Ultratech Cement's bottomline shines in Q3FY16

Ultratech Cement (UTCL) declared its Q3FY16 results. The company's revenue increased by 4.05 per cent to Rs 6188 crore in Q3FY16 as compared to same period in previous financial year. Its domestic cement sales volume stands at 11.26 million metric tons (mmt) registering 7.7 growth on a yearly basis. UTCL's total expenditure increased by 1.47 per cent to Rs 4955 crore in Q3FY16 on a yearly basis.

UTCL's EBITDA increased by 16.43 per cent to Rs 1192 crore in Q3FY16 as compared to same period in previous fiscal year. The company's EBITDA margin expanded by 205 basis points to 19.27 per cent in Q3FY16 on a yearly basis. Its interest expense declined by 15.05 per cent to Rs 139 crore, and other income increased by 56.54 per cent to Rs 53 core in Q3FY16 on a yearly basis. UTCL has delivered 34.69 per cent growth in bottomline and stands at Rs 546 crore in Q3FY16 as compared to same period in previous fiscal year. The company's net profit margin expanded by 209 basis points to 8.82 per cent in Q3FY16 on yearly basis.

UTCL's capacity increased by 7 per cent and stands at 67.7 million tons per annum (mtpa) as of December, 2015 on a yearly basis. The company's grey cement sales stands at 12.4 mmt in Q3FY16 and 36.8 mmt in 9MFY16. Its white cement & putty sales stood at 3.4 Lakhs metric tons (Lmt) in Q3FY16 and 9.3 Lmt in 9MFY16.

Considering nine months result, UTCL's revenue increased by 5 per cent to Rs 17405 crore in 9MFY16 as compared to same period in previous financial year. The company's EBITDA too increased by 8 per cent to Rs 3461 crore in 9MFY16 on yearly basis. Its PAT also rose by 7 per cent to Rs 1493 crore in 9MFY16 as compared to same period in previous fiscal year. UTCL's net debt to equity ratio stood at 0.88 as of December 2015 against 1.09 as of March 2015.

The share price of UTCL declined by 2.37 per cent on bourses in early trades and is trading at Rs 2600.25 on an intraday basis.

UTCL is in the business of cement and cement related products. The company manufactures a range of products that cater to construction needs, which include Ordinary Portland Cement (OPC); Portland blast furnace Slag Cement (PSC); Portland Pozzolana Cement (PPC); white cement and white cement based products; ready mix concrete; building products and jointing mortars; as well as a host of others in retail formats. It has around 12 integrated cement units; 12 grinding units; 1 white cement unit; 5 bulk terminals; and over 100 ready mix concrete units. UTCL has presence in the United Arab Emirates (UAE); Sri Lanka; Bahrain; and Bangladesh.