UltraTech prepares to invest close to Rs 6,500 crore on an expansion plan to increase capacities by 19.8 million tons MT in FY 22 and FY 23, declared its chairman Kumar Mangalam Birla.
On Wednesday, Birla stated at the annual basic assembly, “These expansions, once commissioned, would further strengthen your company’s market share and financial performance,” to tackle the corporation's shareholders.
Upon fulfillment of the newest global growth, UltraTech’s capacity will develop to 136.25 MTPA, strengthening its place as the third-largest cement firm on this planet, outside of China, Birla added.
The firm can also boost its capital construction and has long-term pay-as-you-go loans amounting to Rs 5,000 crores in July 2021.
Birla added, “During FY21, your company repaid long-term debt amounting to Rs. 5,227 crores and also repaid short-term loans as per due dates”.
Regardless of the difficult conditions and extreme enterprise interruptions throughout Q1FY21, the repayments were transferred out by generating working money flows.
All of those increased internet debt: fairness ratio and Net Debt / EBITDA ratio, Birla asserted.
In FY21, UltraTech recorded internet revenues of US$ 6.0 billion (Rs. 44,726 crores) and an EBITDA of US$ 1.66 billion (Rs.12,302 crores).
Birla stated that the financial system is growing again to pre-pandemic ranges and foresees the financial system to improve a bit beneath 10% in FY 22.
“The fiscal stance clearly seems to be poised for an acceleration of government capex in the coming years, especially with the national infrastructure pipeline projects,” Birla stated, including there are very resolute alerts of a pick-up within the non-public sector Capex cycle, pushed by firms like UltraTech.
“The three factors of cyclical upswing, conducive policy impulses and an improving global backdrop are likely to align themselves to position India for a virtuous cycle of growth and investments in the medium-term,” Birla declared.
In FY21, UltraTech adopted science-based targets as a part of its local weather dedication to scale back CO2 emission/ MT cement. “The goal is to reduce emissions by 27% till 2032 over the base of 2017. Plans have been articulated to achieve this target,” Birla said.