Ultratech Cement Ltd has announced the following Unaudited results for the quarter ended June 30, 2008:
The Company has posted a profit after tax of Rs 2650.10 million for the quarter ended June 30, 2008 as compared to Rs 2593.80 million for the quarter ended June 30, 2007. Total Income has increased from Rs 13846.90 million for the quarter ended June 30, 2007 to Rs 15225.80 million for the quarter ended June 30, 2008.
Ultratech Cement Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 22, 2008, inter alia, has recommended a dividend of Rs 5/- per equity share of Rs 10/- each for the year ended March 31, 2008. The payment is subject to the approval of the shareholders in the ensuing Annual General Meeting of the Company.
Ultratech Cement Ltd has announced the following Outlook:
“Overall, demand is expected to grow by 9%. The Industry will inevitably experience a surplus of supply over demand on account of additional capacity of 118 MMT, during the XIth Plan Period which is expected to have an impact on domestic prices in CY09. Continuous government intervention has resulted in uncertain price environment, which together with significant increase in input costs will have an adverse impact on margins.”
Ultratech Cement Ltd has announced the following Audited results for the quarter & year ended March 31, 2008:
The results for the Quarter ended March 31, 2008
The Company has posted a net profit of Rs 2828.80 million for the quarter ended March 31, 2008 as compared to Rs 2315.40 million for the quarter ended March 31, 2007. Total Income has increased from Rs 14848.20 million for the quarter ended March 31, 2007 to Rs 16286.90 million for the quarter ended March 31, 2008.
The results for the Year ended March 31, 2008
The Company has posted a net profit of Rs 10076.10 million for the year ended March 31, 2008 as compared to Rs 7822.80 million for the year ended March 31, 2007. Total Income has increased from Rs 49719.80 million for the year ended March 31, 2007 to Rs 56090.70 million for the year ended March 31, 2008.
The Consolidated results are as follows:
The consolidated results for the Year ended March 31, 2008
The Group has posted a net profit (after minority interest) of Rs 10100.50 million for the year ended March 31, 2008 as compared to Rs 7849.10 million for the year ended March 31, 2007. Total Income has increased from Rs 50276.10 million for the year ended March 31, 2007 to Rs 57236.10 million for the year ended March 31, 2008.
Ultratech Cement Ltd has informed BSE that the Government of India has vide notification dated April 11, 2008 imposed a ban on the export of cement and clinker from the country with immediate effect.
Around 10% of the Company’s revenues is generated from exports. However, the Company’s on-going focus on increasing the Volume in the domestic market, is expected to mitigate, to a large extent, the effect of the ban on its operations.
Ultratech Cement Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on April 22, 2008, inter alia, to transact the following:
1. To consider and approve the audited financial results for the year ended March 31, 2008.
2. To recommend payment of dividend, if any, on equity shares for the year ended March 31, 2008.