UltraTech Chairman sets new capacity goal at AGM

UltraTech Chairman sets new capacity goal at AGM
14 August 2023

In FY22-23 UltraTech Cement recorded net revenues of US$7.9bn (INR632,400m) and an EBITDA of US$1.4bn (INR111,230m).  FY22-23 marked significant milestones for UltraTech as the first Indian cement company to record over 100Mt sales volume in a fiscal year. 

UltraTech has doubled its grey cement production capacity from 66.3Mta production capacity in FY15-16 to 132.4Mta in FY22-23. The company commissioned an additional 12.4Mta during FY22-23 and another 5.5Mta in FY23-24, elevating UltraTech’s total cement production capacity to 137.85Mta. 

“Work has already commenced on our next growth phase of 22.6Mta additional capacity,” added Kunas Mangalam. “This scorching pace of expansion is unprecedented in the sector. Completion of all the capacity expansion projects currently underway will take your Company’s cement production capacity to +160Mta. 

“But we aren’t content with just that. Your company is now targeting an ambitious goal of achieving a production capacity of 200Mt.”

UltraTech Cement continued to deliver strong growth, quarter after quarter, achieving a 20 per cent volume growth during 1QFY23-24, reflecting its strong position in the domestic market. Net revenue was INR177,370m versus INR151,640m over the corresponding period of the previous year. Profit before interest, depreciation and tax was INR32,230m compared to INR32,040m. Profit before tax was INR22,670m, and profit after tax was INR16,880m compared to INR22,930m and INR15,840m, respectively. 

Published under Cement News