UltraTech eyes 200 mt production capacity
NEW DELHI : UltraTech Cement Ltd will work towards achieving a production capacity of 200 million tonnes (mt), chairman Kumar Mangalam Birla said on Friday, up from its existing commissioned capacity of nearly 138 mt. “This scorching pace of expansion is unprecedented in the sector. Completion of all the capacity expansion projects currently underway will take your company’s cement production capacity to 160-plus mtpa (million tonnes per annum).
Your company is now targeting an ambitious goal of achieving a production capacity of 200 mt," Birla said at UltraTech Cement’s 23rd annual general meeting. Ultratech doubled its grey cement production capacity from 66.3 mtpa in FY16 to 132.4 mtpa in FY23. It commissioned an additional 5.5 mtpa of capacity in FY24, raising the total capacity to 137.85 mtpa.
“Work has already commenced on our next growth phase of 22.6 mtpa additional capacity," he added. UltraTech recorded a profit of ₹1,688 crore in the June quarter, up 7% from a year earlier. It reported net revenue of ₹17,737 crore during the quarter, up 17%, and earnings before interest, tax, depreciation, and amortization (Ebitda) of ₹3,223 crore.
The company recorded more than 100 mt sales volume in FY23. “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," Birla added. UltraTech has recommended a dividend of ₹38 per share for FY23, entailing a cash outgo of ₹1,097 crore.
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