Ultratech Cement Limited Q1 Results FY18-19: KEY HIGHLIGHTS
UltraTech Cement, one of the largest cement makers in India, has reported a whopping 22.63% jump in standalone profit at INR 598.39 Cr for the April-June 2018 quarter, compared to INR 487.95 Cr in previous quarter. Key highlights for the Q1 FY 2018-19 is as below –
The revenue of the company (standalone basis) for the quarter ended June 2018 was stood at INR 8728.13 as compared to INR 9108.4 Cr for the previous quarter, showing a 4.17% decline.
The revenues of the company were INR 7685.45 Cr for the period ended 30 JUNE 2017.
The profits of the company stood at INR 890.62 Cr for the period ended June 30 2017 showing a 32.81% decline on YOY basis.
During the quarter, the Board of Directors approved a scheme of arrangement amongst Century Textile and Industries Limited (Century), the company and their respective shareholders and creditors. In terms of the scheme, Century will demerge its cement business into the company.
In terms of the scheme, the company will issue 1 (ONE) equity share of face value RS 10/- each for every 8 (EIGHT) equity shares of Century of face value RS 10/- each to the shareholder of Century.
Commissioned A New Mill:
The Company has commissioned the second cement mill of 1.75 mtpa capacity at Manavar Dist, MP in June 2018.
About the Company: UltraTech Cement
UltraTech Cement Limited is the largest manufacturer of White Cement, Ready Mix Concrete (RMC) and Grey Cement in India. It is also one of the leading cement producers globally. UltraTech as a brand embodies ‘strength’, ‘reliability’ and ‘innovation’
The Company has 19 integrated plants, 1 clinkerisation plant, 25 grinding units and 7 bulk terminals. Its operations span across India, UAE, Bahrain, Bangladesh and Sri Lanka. UltraTech Cement is also India’s largest exporter of cement reaching out to meet the demand in countries around the Indian Ocean and the Middle East.
Stock Price Movement
The stock closed down by 1.18% at INR 3849 when the market closed! During the quarter ended June 2018, the share price plunged by more than 3%
The management of the company is of the view that the cement industry now in its up-cycle and the demand is expected to be healthy. The key drivers being higher government budget allocation for infrastructure and rural development.
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