UltraTech Cement’s production capacity to hit 200 MT: KM Birla at AGM

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₹1,688 crore, up 7% YoY, and net revenues of ₹17,737 crore were up 16.97% YoY. The company also recorded over 100 MT sales volume in the fiscal year.

“Despite weaker global growth in the current year, there is room for cautious optimism about a subsequent recovery, as global financial markets have held up reasonably well," he added. The company has recommended a dividend of ₹38 per share for the fiscal year ending 31 March 2023.

This entailed a cash outgo of ₹1,097 crore. Believing in the strength of the company’s operations, Birla said, “It has generated positive cash flow even after meeting all ongoing capex, working capital, and dividend payment requirements, and has still been able to deleverage a bit." The company has also taken strides in continuously decarbonizing its operations across the value chain.

“In FY23, the Scope 1 net carbon intensity decreased by 12% with the base year of 2017, which is in line with the target to reduce carbon intensity by 27% by 2032. Your Company’s green energy share is planned to be increased threefold to 60% of its total energy requirements by FY26," Birla added.