UltraTech Cement Q4 results: Net profit jumps 10% to Rs 2,482 crore, but realisations sluggish

UltraTech Cement

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26 Aug, 2025 12:21

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India's largest cement maker UltraTech Cement on April 28 reported 10 percent rise in consolidated net profit at Rs 2,482 crore for the quarter ended March 31, 2024, beating Street estimates of Rs 2,399 crore, according to a poll of brokerages by Moneycontrol. The company reported consolidated net profit of Rs 2,258 crore in the year-ago period.

The firm's consolidated revenue from operations increased 13 percent to Rs 23,063 crore in Q4FY25 as against Rs 20,419 crore in Q4FY24. The Q4 revenue was slightly lower than estimates of brokerages, which were at around Rs 23,099 crore. UltraTech's consolidated earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the quarter were Rs 4,721 crore.

This was the first full quarter is which UltraTech is reporting its financial results after formally acquiring India Cements. UltraTech has also completed the acquisition of Kesoram Industries' cement business. Including India Cements and Kesoram, UltraTech's sales volume improved in Q4FY25 by 17 percent year-on-year to 41.02 million tonne, with grey cement capacity utilisation of 89 percent.

UltraTech's domestic EBITDA per tonne, a key metric to measure profitability, increased during FY25 to Rs 1,270, higher by Rs 84 per tonne year-on-year, and by a significant Rs 305 per tonne over the October-December quarter.

However, the company's sales realisations remained on the tepid end, owing to sluggish pricing activity in the sector amid intense competition for market share, especially between UltraTech and its biggest rival Adani Cement (Ambuja Cements and ACC).

According to the company's investor presentation, UltraTech's sales realisation for Q4 was lower by 2.3 percent year-on-year at Rs 5,052 per tonne, even as it increased by 1.6 percent over the quarter ending December 31, 2024. The realisation figures for UltraTech is not including those of India Cements or Kesoram Industries.

UltraTech reported annual and quarterly declines in most of its key expenses, such as logistics, fuel, power, and raw materials, with the company's lead distance - the distance between the cement manufacturing plant and the point of distribution - continued to decline, now at 384 kilometres (km), compared to 400 km at the end of the same quarter last year.

FY25 results, FY26 outlook

For the full financial year, UltraTech's consolidated revenue increased by around 7.3 percent year-on-year to Rs 74,936 crore, while its net profit declined by 13.8 percent to Rs 6,039 crore, which the company attributed to increased interest costs and depreciation.

The company's sales volumes for the full year were 135.83 million tonne, 14 percent higher than that it FY24, although capacity utilisation remained on the softer side at 78 percent. Due to the two major acquisitions, as well as in-house capacity additions, UltraTech reported a significant 42.8 million tonne per annum (MTPA) by way of capacity addition in FY25.

Going ahead, UltraTech expects volume growth in the range of 7 to 8 percent in the cement industry, with the company also scheduled to add a significant 27.1 MTPA in capacity across the current and the following financial years. Most of the capacity addition has been indicated for the eastern and southern markets, indicating strong upcoming competition for market share.

The Aditya Birla Group company declared dividend of Rs 77.5 per share. "The Board of Directors have recommended a dividend off Rs 77.5 per share of face value off 10 each aggregating to Rs 2,284 crore for the year ended 31/03/2025," said the company in a stock exchange filing.

On April 28, UltraTech Cement shares on the National Stock Exchange closed 0.9 percent lower at Rs 12,128 apiece. The company declared its results during market hours.