UltraTech Cement Ltd, flagship organization of Aditya Birla Group, described a reduce-than-envisioned consolidated net income of Rs one,775 crore in March quarter, down 45 per cent from the corresponding interval previous yr even as net product sales jumped. The organization described consolidated net income of Rs 3,243 crore in March 2020.
Net product sales of the Aditya Birla Group organization stood at Rs fourteen,405 crore in the last quarter of FY21, up 33 per cent from exact same interval previous yr on powerful need for the commodity.
As per Bloomberg estimates, the company’s topline was envisioned to be at Rs thirteen,460 crore, even though the bottomline is believed to be at Rs one,644 crore in the interval less than assessment.
Tax fees worth Rs 865 crore ate into the organization earnings in the interval less than assessment, in switch dragging the bottomline.
In the corresponding interval previous yr, the practically Rs two,000-crore deferred tax credit score provided agency assist to the firm’s bottomline taking the earnings to in excess of Rs 3,000 crore.
UltraTech, during the quarter, reduced net Credit card debt/EBITDA ratio to .55x from one.72x as on March 31, 2020, which is in line with its endeavour to manage exceptional cash construction. EBITDA is earnings ahead of interest, taxes, depreciation and ammortisation.
The mortgage repayments have been produced via cost-free income flows that the organization has produced during the yr, inspite of the demanding conditions and serious small business interruptions during Q1FY21, informed the organization through release.
Meanwhile, the organization elevated $four hundred million (somewhere around Rs two,900 crore) by way of issuance of unconditional, unsubordinated and unsecured USD denominated notes (in the kind of “Sustainability Linked Bonds”), because of 16th February, 2031 at two.8 per cent per annum, payable semi-annually on August sixteen and February sixteen of every single yr, commencing from August sixteen, 2021 as per applicable regulations. The Bonds are listed on the Singapore Exchange Securities Trading Restricted.
On capability enlargement, the firm’s Board had before sanctioned capability enlargement strategies of 19.5 million tonne via a blend of brown field and environmentally friendly field enlargement masking 5 built-in cement vegetation and 12 grinding models.
“Most of the orders for equipment have been placed and civil work has also commenced at these destinations,” informed the organization.
Commercial output from these capacities is envisioned to go on stream in a phased way, during FY22 and FY23.
Heading ahead, the organization said, even though rural and semi-city housing carry on to drive advancement, pick-up in government led infrastructure aided incremental cement need. Pent-up city need is also envisioned to strengthen.
Meanwhile, the organization is closely checking the impression of the 2nd wave of the pandemic on its functions. With its concentrate on operational efficiencies and price management, UltraTech is far better prepared for any ensuing slowdown in the economy, it said nowadays.