UltraTech Cement lost 0.3% to Rs 2164 at 9:51 IST on BSE after net profit rose 15.42% to Rs 838 crore on 8.18% growth in net sales to Rs 5832 crore in Q4 March 2014 over Q4 March 2013.
The Q4 result was announced after market hours on Wednesday, 23 April 2014.
Meanwhile, the S&P BSE Sensex was down 39.20 points or 0.17% at 22,837.34.
On BSE, so far 3,297 shares were traded in the counter as against average daily volume of 6,451 shares in the past two weeks.
The stock was volatile. The stock lost as much as 0.76% at the day's low of Rs 2153.85 so far during the day. The stock rose as much as 1.2% at the day's high of Rs 2196.75 so far during the day.
The profit after tax (PAT) of Rs 838 crore in Q4 March 2014 includes tax provision reversal of Rs 95.56 crore related to earlier years.
UltraTech Cement's net profit fell 19.24% to Rs 2144 crore on 0.27% growth in net sales to Rs 20078 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).
The PAT of Rs 2144 crore in FY 2014 includes tax provision reversal of Rs 95.56 crore related to earlier years.
On consolidated basis, UltraTech Cement's net profit declined 17.61% to Rs 2206.03 crore on 1.6% growth in total income to Rs 21974.92 crore in FY 2014 over FY 2013.
UltraTech Cement said that FY 2014 witnessed continuing pressure on input and logistics costs, given the increase in railway freight and a continuous hike in diesel prices. Although there was some relief on account of softening in prices of imported coal, the impact was negated by the depreciation of rupee, the company said in a statement.
Optimization of fuel mix and other initiatives helped in maintaining costs almost at the previous year levels, UltraTech Cement said in a statement. UltraTech Cement said its cement capacity currently stands at 53.95 MTPA with commissioning of new units during FY 2014.
UltraTech Cement said that the company has earmarked around Rs 10000 crore to be incurred in setting up the remaining grinding units, clinkerisation plants, cement terminals and other capex in the current round of expansion. These are likely to be commissioned in a phased manner by 2015, the company said. A judicious mix of internal accruals and borrowings has been used for funding the projects, UltraTech Cement said in a statement.
UltraTech Cement said that the long term cement demand is likely to grow over 8% in line with GDP growth. The value drivers for growth will continue to be housing demand and infrastructure development, the company said in a statement.
UltraTech Cement's board of directors at its meeting held on Wednesday, 23 April 2014, recommended dividend of Rs 9 per share for FY 2014.
UltraTech Cement, part of the Aditya Birla Group, is a leading cement manufacturer in India.
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