UltraTech Cement rose 3.69% to Rs 4358.80 at 14:59 IST on BSE after consolidated net profit rose 127.13% to Rs 1013 crore on 17.14% rise in net sales to Rs 10739 crore in Q4 March 2019 over Q4 March 2018.
The result was announced during trading hours today, 24 April 2019.Meanwhile, the S&P BSE Sensex was up 377.37 points, or 0.98% to 38,942.25.
On the BSE, 53,000 shares were traded in the counter so far compared with average daily volumes of 10,000 shares in the past two weeks. The stock had hit a high of Rs 4366.55 and a low of Rs 4116.20 so far during the day. The stock hit a 52-week high of Rs 4,490 on 31 August 2018. The stock hit a 52-week low of Rs 3,263.70 on 23 October 2018.
Consolidated EBITDA rose 30% to Rs 2459 crore in Q4 March 2019 over Q4 March 2018.
The company's consolidated net profit rose 10% to Rs 2435 crore on 20% rise in net sales to Rs 36775 crore in the year ended March 2019 over the year ended March 2018.
Consolidated EBITDA rose 7% to Rs 7227 crore in the year ended March 2019 over the year ended March 2018.
In its outlook, UltraTech Cement said the cement industry started witnessing pick-up in demand since FY2018, achieving double digit growth since the last 2 years, after a period of tepid growth. However, there continues to be relatively low increase in new capacity. Incremental capacity added during the year has been 12 mtpa against incremental demand of around 38 million tons, which resulted in improving industry capacity utilisation and will further help in improving the demand-supply balance.
The Government's thrust on infrastructure development viz. construction of cement concrete roads, metro rail networks, airports, DFC, irrigation projects and increase in the pace of execution under the low cost housing program, supported strong volume off-take. With stabilisation of RERA, pick-up in urban housing is also being witnessed. All of these are expected to result in sustained demand growth for cement going forward. This augurs well for the industry. UltraTech, with its expansions in the last 3 years is very well placed to participate in the growth of the economy.
UltraTech Cement is the largest manufacturer of grey cement, Ready Mix Concrete (RMC) and white cement in India.
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