Ultratech Cement Limited Q1FY22 Results – DECLARED – PAT up 114% YoY to Rs 1703 cr; “Cautiously Optimistic” on projections of 3rd wave

Ultratech Cement Limited Q1FY22 Results - Ultratech Cement today posted a consolidated net profit of Rs 1703 cr for the quarter ended June 30 2021, which was up 114 per cent year-on-year. The cement company reported a PAT (Profit After Tax) of Rs 794 during the corresponding quarter in Q1FY21. On the standalone basis, the net profit stood at Rs 1681 cr in Q2FY22 versus Rs 806 cr in Q1FY21.  

Net sales for the reporting quarter stood at Rs 11,698 cr versus Rs 7600 cr in Q1FY21. The net sales were up over 53 per cent. 

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The Profits Before Tax (PBT) stood at Rs 2527 for Q1FY22 versus the Q1FY21 PBT at Rs 1153. On the standalone basis, the PBT for June FY22 quarter stood at Rs 2,515 versus Rs 1172 in Q1FY21. 

The Q1FY22 earnings results announcements were made by Ultratech Cement in its filing to the stock exchanges.  

The Ultratech Cement stocks were down 0.9 per cent on the NSE and were trading at Rs 7357.90.  

The results were announced during the market hours.  

The company has further informed that the production cost during the reporting quarter went up by 11 per cent YoY mainly on account of higher fuel prices. “The company continues to maintain a tight control on costs and cash flow with focus on operational efficiencies,” the company said in its filing.  

The company said that the capacity utilisation during the reporting quarter was at 73 per cent against 43 per cent in Q1FY21. 

Ultratech Cement Guidance – The company said that it is “cautiously optimistic” about company’s outlook and was monitoring the pandemic situation closely amid the projection of a third wave.  

The company further said that the expansion programme of Ultratech Cement was on track and is expected to be completed by FY23. After the completion the overall capacity will be augmented to 136 mt. The company also mentioned about Covid-19 related disruptions leading to labour shortages and lockdowns.