UltraTech Cement - April 2016
UltraTech saw its profits rise by 10 per cent YoY in 4QFY16, outperforming industry estimates. Consolidated net profit over the period came in at INR7230m (US$108.52m), compared to INR6750m in the same period last year. The advance is being attributed to a strong operational performance, namely operational efficiencies, a “judicious” fuel mix and a fall in fuel prices. Net sales over the same period rose by five per cent to INR68.5bn with total cement demand expanding by 15 per cent. The company expects this to continue to grow at 7-8 per cent over the next fiscal year on the back of infrastructure development, housing and smart cities.