UltraTech Cement Ltd, part of Aditya Birla Group, has reported consolidated net sales of INR178,790m (US$2.14bn) in the first quarter of FY24-25 (ended 30 June 2024). This compares to INR175,190m in the same period a year earlier. Profit before interest, depreciation and tax fell from INR32,230m 1QFY24-25 to INR32,050m in the same period a year later, while profit after tax advanced slightly from INR16,880m to INR16,970m.
According to the company, the quarter under review saw a six per cent YoY advance in domestic sales volumes. In terms of costs, energy costs were down by 17 per cent YoY, mainly driven by lower fuel prices, while raw material costs increased by one per cent on the back of higher fly ash and slag prices.
The three-month period saw UltraTech install 23MW of waste heat recovery system (WHRS) capacity taking its full WRHS capacity to 301MW. The combination of WHRS and renewable energy power now accounts for 29.4 per cent of the company’s power mix.
Its expansion programme is reportedly progressing on schedule. Following the successful commissioning of 13.3Mta of grey cement capacity in FY23-24, the company added a further 8.7Mta of capacity in the 1QFY24-25, including Karur, Tamil Nadu (2.7Mta), Kukurdih, Chhattisgarh (2.7Mta), Tadipatri, Andhra Pradesh (1.8Mta), Parli, Maharashtra (1.1Mta) and 0.4Mta through debottlenecking at Jharsuguda, Odisha.
The remaining 22.6Mta of new capacity announced in June 2022 is due to come onstream in FY25-26. For the third phase of growth announced in October 2023, major orders to key technology suppliers have already been placed and civil works have commenced at some locations.
“With the ongoing expansions across locations and the proposed acquisition of the cement business of Kesoram Industries, UltraTech’s grey cement capacity will stand augmented at 199.6Mta, including its overseas capacity of 5.4Mta,” said the company in a statement.
