INDIA: UltraTech Cement slips after weak Q4 outcome

Byszheng

Updated Mon, 27 Apr 2015 15:05:08 GMT

UltraTech Cement fell 1.01% to Rs 2,679.85 at 9:19 IST on BSE after consolidated net profit declined 24% to Rs 657.20 crore on 5.4% growth in net sales to Rs 6518.18 crore in Q4 March 2015 over Q4 March 2014.

The result was announced on Saturday, 25 April 2015.

Meanwhile, the S&P BSE Sensex was up 40.07 points or 0.15% at 27,478.01

On BSE, so far 956 shares were traded in the counter as against average daily volume of 35,364 shares in the past one quarter.

The stock hit a high of Rs 2,705 and a low of Rs 2,660 so far during the day. The stock had hit a record high of Rs 3,399 on 4 March 2015. The stock had hit a 52-week low of Rs 1,953 on 8 May 2014.

The large-cap cement company has equity capital of Rs 274.40 crore. Face value per share is Rs 10.

Profit before interest, depreciation and tax rose 2.63% to Rs 1364 crore in Q4 March 2015 over Q4 March 2014. UltraTech Cement said that the figures for Q4 March 2015 includes those of the acquired units of Jaypee Cement Corporation (JCCL) in Gujarat with effect from 12 June 2014, and are therefore not strictly comparable with the previous years' figures.

The combined cement and clinker sales of grey cement (for Indian operations) was at 11.81 MMT in Q4 March 2015 compared with 12.18 MMT in Q4 March 2014. Sales of white cement and wall care putty was at 3.52 LMT in Q4 March 2015 compared with 3.28 LMT in Q4 March 2014.

UltraTech Cement' consolidated net profit declined 4.9% to Rs 2098.34 crore on 12.2% growth in net sales to Rs 24064.75 crore in the year ended 31 March 2015 over the year ended 31 March 2014.

With regard to future business outlook, UltraTech Cement said that with the governments' focus on development of the infrastructure and housing sector, the company is positioned across the country to meet the rise in demand and participate in the next phase of growth in the country.

UltraTech Cement's board of directors at its meeting held on 25 April 2015, recommended a dividend of Rs 9 per share for the year ended 31 March 2015.

UltraTech Cement, part of the Aditya Birla Group, is a leading cement manufacturer in India.