COVID-19
The unexpectedly virulent second wave of COVID-19, looks to be receding almost as quickly as it was rising. Nevertheless, UltraTech continues to closely monitor the situation and the impact on its operations, while according utmost primacy to the safety and well-being of its employees and business partners.
FINANCIALS
Consolidated
OPERATIONS
Coal and pet coke prices nearly doubled in Q2FY22 resulting in energy cost rising 17 per cent per cent YoY. The resulting impact on the Company's operations were partly offset by reduction in power consumption and continuing focus on operational efficiencies. The Company expects to commence mining operations at its Bicharpur coal block situated in
During the quarter the Company has commissioned 12MW of WHRS and 21MW of solar power. With this expansion the Company's green energy share has gone up to 15 per cent.
CAPEX
UltraTech commissioned cement capacity of 1.2 mtpa in
Dankuni Cement Works,
This additional capacity will help UltraTech to service the fast-growing cement demand in the Eastern markets.
UltraTech's total cement manufacturing capacity in
SUSTAINABILITY
UltraTech announced its commitment to
In the last two years, UltraTech has scaled up its contracted renewable energy capacity by 2.5 times. It has already set a target to scale up its green energy mix to 34 per cent of its total power requirement by 2024, from the current levels of 13 per cent. The commitment to move to 100 per cent renewable energy to meet its electrical energy requirements by 2050 is both a reflection of its confidence on the progress made, as well as its resolve to overcome the challenges ahead. The RE100 announcement is in line with UltraTech's focus to institutionalise its carbon reduction initiatives through measurable targets and commitments.
OUTLOOK
Recovery in rural housing, higher MSP (minimum support price) for kharif crop; improved food grain production in rabi harvest; a third consecutive normal monsoon and pick-up in infrastructure-led construction activity are likely to drive cement demand off-take. Continuous increases in input costs like coal, pet coke and diesel pose a challenge for the industry.
UltraTech is confident of weathering the storm of increase in prices of coal, diesel and other inputs, with its sustainable efficiency improvement programs, accompanied by increase in selling prices to absorb the increase in costs.
Contact:
Mr.
Tel: +91-22-6652-5000
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