UltraTech Cement Ltd., of Adity Birla Group reported fourth quarter consolidated net profit grew 36% Year on Year (YoY) to ₹2258 crore. Consolidated net sales revenue at ₹20,069 crore rose 9% YoY on the back of strong demand and ongoing production expansions across locations to reach 200 mtpa.

For FY24 the company’s consolidated net profit grew 38% to ₹7,005 crore. Consolidated net sales for FY24 rose 12% to ₹69,810 crore, the company said in a filing.

The Board recommended a dividend of ₹70 per equity share of face value ₹10 each, aggregating ₹2,020.84 crore.

 UltraTech reported volume growth of 13% in FY24 backed by 11% volume growth in the fourth quarter.

In the fourth quarter the company achieved capacity utilisation of 98%, and it was 85% for the full year, UltraTech said.

Despite capex spends of more than ₹9400 crore in FY24, the company’s net debt increased only by ₹77 crore, indicating strong cash flows generated by the business.

Currently 23.6% of UltraTech’s power requirements are met through renewables the company said, adding that 156 MW of solar power was added to its capacity taking the total to 612 MW.

During the year, UltraTech added 13.27 mtpa grey cement capacity across several locations.