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FinShiksha

Ultratech Cement
Balance Sheet
INR Crore FY13 FY14 FY15
EQUITY AND LIABILITIES
Shareholder's Funds
Share capital 274 274 274
Reserves & Surplus 14,961 16,823 18,583
15,235 17,098 18,858
Non - Current Liabilities
Long term Borrowings 3,894 4,494 4,614
Deferred Tax Libilities (Net) 1,906 2,296 2,792
Other Long term liabilities 2 2 1
Long Term Provisions 134 138 163
5,936 6,930 7,570
Current Liabilities
Short Term Borrowings 569 379 1,898
Trade Payables 2,173 2,424 1,553
Other Current Liabilities 2,561 2,088 4,196
Short Term Provisions 935 835 1,140
6,238 5,727 8,787
TOTAL 27,409 29,754 35,215

ASSETS
Non-Current Assets
Fixed Assets
Tangible Assets 13,074 15,781 20,879
Intangible Assets 48 91 69
Capital work-in-progress 3,505 2,038 2,069
Intangible Assets under development 0 3 5
16,628 17,913 23,022

Non-Current Investments 1,982 1,662 2,685


Long term loans and advances 983 1,194 1,690
Other non-current assets 13

Total Non-Current Assets 19,593 20,770 27,411

Current Assets
Current Investments 3,127 3,729 2,523
Inventories 2,350 2,368 2,751
Trade Receivables 1,017 1,281 1,203
Cash and Bank balances 143 278 201
Short term loans and advances 1,173 1,312 1,110
Other current assets 6 16 16
7,816 8,984 7,804
TOTAL 27,409 29,754 35,215

Check - - -
FY16

274
20,462
20,736

2,491
3,227
8
181
5,907

2,339
1,614
6,310
946
11,209
37,852

22,435
98
1,414
1
23,948

3,081
1,618
14

28,661

2,028
2,426
1,415
2,235
1,058
29
9,191
37,852

-
FinShiksha
Profit & Loss Account
INR Crore FY13 FY14 FY15
Income
Revenue from Operations 22,705 22,803 25,710
Less: Excise Duty 2,682 2,725 3,063
Sales net 20,023 20,078 22,648
Other operating revenues 157 202 279
Revenue from Operations (net) 20,180 20,280 22,927
Other Income 305 329 371
Total Revenue 20,485 20,609 23,298
Expenses
Cost of materials consumed 2,792 2,911 3,281
Purchase of Stock-in-trade goods 236 309 389
Changes in Inventories (118) 107 (110)
employee benefit expenses 968 1,015 1,218
power and fuel 4,299 4,135 4,743
freight and forwarding expenses 4,224 4,581 5,393
other expenses 3,149 3,436 3,859
less: captive consumption for cement (45) (32) (42)

Total Expenses 15,504 16,462 18,732


Profit before Exceptional Items & Tax 4,980 4,147 4,566
Exceptional Items
finance costs 210 319 547
Depreciation and Amortization Expenses 945 1,052 1,133
Profit/(Loss) before Tax 3,825 2,776 2,885
Tax Expense:
Current tax 1,006 559 498
MAT Credit utilisation (222) (489)
Deferred tax 168 390 862
Prior Period Tax (4) (96)
Profit/(Loss) after tax before Minority Interest 2,655 2,145 2,014
Share of Profit of Associates
Minority Interest
Profit for the Year 2,655 2,145 2,014
EPS
Basic 97 78 73
Diluted 97 78 73
FY16

27,074
3,233
23,841
266
24,107
235
24,343

3,554
440
(12)
1,342
4,241
5,935
4,029
(36)

19,491
4,851

505
1,289
3,057

623
(177)
435
0
2,175

2,175

79
79
FinShiksha
Balance Sheet
INR Crore FY13 FY14 FY15

Capacity in million tonnes 52.3 55.3 61.5


Growth in Capacity in million tonnes 3.0 6.2

Production in million tonnes 40.1 40.8 43.9


Sales Volume in million tonnes 40.2 41.1 44.1

Utilization % 76.7% 73.8% 71.3%

Industry Capacity in million tonnes 357 368 392


Industry Production in million tonnes 241 247 255
Industry Utilization % 67.5% 67.1% 65.1%

Revenue Drivers
Revenue in INR Crore 22,705 22,803 25,710

Cement Realizations INR Per Tonne (Per 1000 kg) 5,654 5,544 5,827
Cement Realizations INR Per Bag (Per 50 kg) 283 277 291
Cement Realizations Change in % -1.9% 5.1%

Excise Duty as % of Gross Revenue 11.8% 12.0% 11.9%

Other Operating Revenues INR Crore 157 202 279


Other Operating Revenues as % of total revenue 0.7% 0.9% 1.1%

Cost Drivers

Cost of materials consumed INR Crore 2,792 2,911 3,281


Purchase of Stock-in-trade go INR Crore 236 309 389
Changes in Inventories INR Crore (118) 107 (110)
employee benefit expenses INR Crore 968 1,015 1,218
power and fuel INR Crore 4,299 4,135 4,743
freight and forwarding expenseINR Crore 4,224 4,581 5,393
other expenses INR Crore 3,149 3,436 3,859
less: captive consumption for INR Crore (45) (32) (42)

Total RM Cost INR Crore 2,910 3,327 3,560


Total RM Cost INR / Tonne 725 816 811
Change in RM Cost % 13% -1%

Employee Expenses INR Crore 968 1,015 1,218


Employee Expenses INR / Tonne Capacity 185 183 198
Change in Employee Expenses % -1% 8%

Power & Fuel Expenses INR Crore 4,299 4,135 4,743


Power & Fuel Expenses INR / Tonne Production 1,071 1,014 1,081
Change % -5% 7%

Freight and Forwarding INR Crore 4,224 4,581 5,393


Freight and Forwarding INR / Tonne Production 1,053 1,123 1,229
Change % 7% 9%

Other Expenses INR Crore 3,149 3,436 3,859


Other Expenses INR / Tonne Production 785 842 880
Change % 7% 4%

Tax Paid INR Crore 1,170 631 872


Effective Tax Rate % 30.6% 22.7% 30.2%

Working Capital Drivers


Current Liabilities
Short Term Borrowings INR Crore 569 379 1,898
Trade Payables INR Crore 2,173 2,424 1,553
Other Current Liabilities INR Crore 2,561 2,088 4,196
Short Term Provisions INR Crore 935 835 1,140

Current Assets
Inventories INR Crore 2,350 2,368 2,751
Trade Receivables INR Crore 1,017 1,281 1,203
Short term loans and advanceINR Crore 1,173 1,312 1,110
Other current assets INR Crore 6 16 16

Days Sales Outstanding


Current Liabilities
Short Term Borrowings Days 9 6 27
Trade Payables Days 35 39 22
Other Current Liabilities Days 41 33 60
Short Term Provisions Days 15 13 16

Current Assets
Inventories Days 38 38 39
Trade Receivables Days 16 21 17
Short term loans and advanceDays 19 21 16
Other current assets Days 0 0 0
FY16 FY17 FY18 FY19 FY20 FY21

66.3
4.8

47.6
47.7

71.8%

405
267
65.9%

27,074

5,676
284
-2.6%

11.9%

266
1.0%

3,554
440
(12)
1,342
4,241
5,935
4,029
(36)

3,981
836
3%

1,342
202
2%

4,241
891
-18%

5,935
1,247
1%

4,029
846
-4%

882
28.9%

2,339
1,614
6,310
946

2,426
1,415
1,058
29

32
22
85
13

33
19
14
0