UltraTech Cement Q3 Results: PAT falls 17% YoY to Rs 1,469 crore but beats estimates

UltraTech Cement on Thursday reported a 17% year-on-year (YoY) decline in its net profit at Rs 1,469.50 crore (attributable to shareholders), while revenue from operations rose by a marginal 3% YoY to Rs 17,193 crore.

Despite the profit decline, it was comfortably above the Street estimate of Rs 1,195 crore. Revenues, too, beat the expectations of Rs 16,854 crore.

EBITDA for the third quarter fell 8% YoY to Rs 3,131 crore and margins, too, declined to 17% in the same period.


UltraTech achieved a capacity utilisation of 73% during the quarter. Domestic sales volume for the reporting grew 10% YoY. Energy costs were lower by 13% YoY, mainly on account of a decrease in fuel costs.

Grey cement domestic sales volume during the quarter increased 10% YoY and 9% QoQ, while that of white cement rose 6% YoY and 12% YoY. Cement exports in the reporting period increased 41% YoY, but fell 9% QoQ.

Revenues from the grey cement segment fell marginally to Rs 13,969 crore and that of the white cement also declined 1% YoY to Rs 641 crore. Exports revenue rose 37% YoY to Rs 76 crore in the December quarter.

Realisation during the quarter declined 9.6% YoY, but improved 1.4% QoQ to Rs 4,970 per mt.

Blended imported fuel consumption came in at $125 per ton in the third quarter, 6% lower QoQ and 17% lower YoY.

The green power mix has increased to 33.4% in the reporting quarter versus 24.1% in Q3FY24. The clinker conversion ratio, meanwhile, was at 1.45.

As part of its ongoing expansion programme, UltraTech commissioned an additional 1.8 mtpa capacity. With the acquisition of India Cements, UltraTech’s cement capacity increased to 171.11 mtpa, on a consolidated basis.

Upon the completion of the ongoing expansion projects and the acquisition of Kesoram Cement (10.75 MTPA), UltraTech will achieve the milestone of more than 200 mtpa cement capacity in the country by the end of FY27.

On Thursday, Ultratech shares were trading 6% higher at Rs 11,343 on NSE.