UltraTech operating near full capacity but will add more for growth; sees shorter demand slowdown

The management noted that all of their organic expansions are on track. "We have started this year with a fully available capacity of 146.16 million tonnes. The Indian market will continue to grow and we have more capacity coming this year and the next," he added.

On a full-year basis too, UltraTech Cement’s capacity utilisation was at around 85 percent. That was much higher than the all-India capacity utilisation, which increased by about 200 basis points to 71 percent.

During the year, in terms of regions, the East remained the fastest growing market and saw the most in terms of capacity expansion, the management noted.

While there could be some moderation in demand during FY 2024-25, the management expects the slowdown to last shorter than earlier years. This is because the private sector housing is picking up momentum. "The industry could see a high single-digit growth this year as well. UltraTech should surely be doing better," the management said.

The cement manufacturer reported a 35 percent YoY increase in net profit in Q4FY24 to Rs 2,259 crore, up from Rs 1,670 crore. Revenue for the quarter grew 9.4 percent YoY to Rs 20,419 crore.

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