Ultratech Cement Limited · NSE:ULTRACEMCO

Ultratech Cement — Investor Presentation (May 2018)

61 slides from Ultratech Cement's investor presentation, May 14, 2018

  1. Slide 1: Intimation of Investor Meeting and Corporate Dossier

    ADITYA BIRLA 14th May, 2018 BSE Limited The Manager Corporate Relationship Department Listing Department Phiroze Jeejeebhoy Towers, The National Stock Exchange of India Limited Dalal Street "Exchange Plaza", Sandra - Kurla Complex, Mumbai 400 001. Sandra (East), Mumbai 400 051. Tel.: 2272 1233/34 Te

  2. Slide 2: UltraTech Investor Meeting — 14 and 15 May, 2018

    UltraTech Investor Meeting — 14" and 15" May, 2018 Sr. Name No. 1 Fullerton FM 2 Lion Global Investors 3 Government of Singapore 4 Southeastern AM 5 Investec AM 6 UBP AM 7 Broad Peak Investment Advisers 8 AR Capital 9 Balyasny AM 10 __| Wellington Management Group 11 Baillie Gifford 12 __| Dymon Asi

  3. Slide 3: India's Largest Cement Company - Corporate Dossier

    INDIA'S LARGEST CEMENT COMPANY CORPORATE DOSSIER STOCK CODE: BSE: 532538 NSE: ULTRACEMCO REUTERS: UTCL.NS BLOOMBERG: UTCEM IS / UTCEM LX

  4. Slide 4: Contents

    CONTENTS ADITYA BIRLA OPERATIONAL INDIAN CEMENT ULTRATECH GROUP‐ AND FINANCIAL SECTOR LANDSCAPE OVERVIEW PERFORMANCE GLOSSARY Mnt ‐ Million Metric tons Lmt ‐ Lakhs Metric tons MTPA ‐ Million Tons Per Annum MW ‐ Mega Watts Q1 ‐ April‐June Q2 ‐ July – September Q3 ‐ October ‐ December Q4 ‐ January‐Mar

  5. Slide 5: Aditya Birla Group Overview

    ADITYA BIRLA __Ultrafech _ ADITYA BIRLA GROUP OVERVIEW

  6. Slide 6: Aditya Birla Group - Overview

    ADITYA BIRLA GROUP - OVERVIEW  # 1 cement player in  A global metal India powerhouse  # 4 largest cement  ‐ 3rd biggest producers player globally of primary aluminum (ex ‐ China) in Asia PREMIUM GLOBAL CONGLOMERATE  # 1 in VSF globally US$ ~43 billion Corporation  # 1 in carbon black  # 5 lar

  7. Slide 7: UltraTech Cement

    ULTRATECH CEMENT INDIA’S LARGEST CEMENT COMPANY No. 1 RMC player in India’s Largest Cement India with Market Cap of FY18 Consolidated Selling Brand ~ 110 plants ~ US$ 17 Bn Revenue ~ US$ 4.8 Bn Different Products to provide complete No.1 Player of White Building Solutions Cement & Cement ~ 1,200 mil

  8. Slide 8: Building Products Portfolio

    ULTRATECH CEMENT BUILDING PRODUCTS PORTFOLIO Complete Building Solution under one umbrella 6

  9. Slide 9: Our Vision and Mission

    OUR VISION AND MISSION Vision To be The Leader in Building Solutions Mission To deliver superior value to our stakeholders on the four pillars of Sustainability Customer Innovation Team Centricity Empowerment 7

  10. Slide 10: UltraTech's Journey

    ULTRATECH’S JOURNEY 15x 89 mtpa Current (Mkt Cap ~ US$17bn) 7x  Acquired 21.2 mtpa capacity  #4 global cement player by capacity (ex. China) Aug'04 Mar'07 Mar'10 Mar'13 Mar'16 Current 52 mtpa Mkt Cap – US$7bn UTCL Share Price Trend BSE Sensex Trend  Organic Capacity addition:15 mtpa 2018  Group

  11. Slide 11: Governance

    GOVERNANCE Board of Directors Non‐Executive Chairman Independent Directors Executive Directors Mr. KM Birla Mr. GM Dave Mr. KK Maheshwari ‐ MD Mr. SB Mathur Mr. Atul Daga ‐ CFO Non‐Executive Directors Mr. Arun Adhikari Mrs. Rajashree Birla Mrs. Renuka Ramnath Mr. DD Rathi Mrs. Sukanya Kripalu Mr. OP

  12. Slide 12: Management Team

    MANAGEMENT TEAM Mr. KK Maheshwari Mr. KC Jhanwar Mr. Atul Daga Mr. Vivek Agrawal Mr. Ramesh Mitragotri Managing Director Chief Manufacturing Executive Director & Chief Marketing Officer Chief Human Resource Officer CFO Officer  He is a Fellow  A bachelor of Chartered Accountant  A Fellow Chartere

  13. Slide 13: Shareholding Pattern

    SHAREHOLDING PATTERN 1.6% 9.3% 5.8% Promoter Group Foreign Portfolio Investors As on Mutual Fund, Institutions 22.3% 31st March, 2018 61.0% Other Public Holding GDRs Promoter Group FII Holdings Name Holding (%) Name Holding (%) Grasim Industries Limited 60.21 Aberdeen 2.79 Oppenheimer Developing Mar

  14. Slide 14: Indian Cement Sector

    ADITYA BIRLA Indian Cement Sector

  15. Slide 15: Indian Cement Industry - Overview

    INDIAN CEMENT INDUSTRY OVERVIEW Global Cement Consumption (%) Second largest market Globally with installed capacity of ~ 455 mtpa after 7% China ~3000 mtpa 17% 2nd fastest‐growing cement market globally: Compounded Average Growth: 8% 57% ~7% (FY 2000 – FY2018) 5% 2% Market Composition 5% 33% India

  16. Slide 16: Indian Cement Industry - Overview (contd)

    INDIAN CEMENT INDUSTRY OVERVIEW (contd…) Per Capita Cement Consumption at 210 kg lowest among the developing PER CAPITA CEMENT COSNUMPTION (KG) countries; World average ~ 580 Kg 1780 China Consolidation in industry at regular intervals Turkey Vietnam 830 World 660 580 Russia Entry of new players 470

  17. Slide 17: GDP Growth vs Cement Demand Growth

    INDIAN CEMENT INDUSTRY GDP GROWTH V/S CEMENT DEMAND GROWTH Long‐term average cement 14 demand growth: 1.2x of GDP 12 +ve co‐relation (‐) ve 10 co‐relation Industry reached to 8 historical GDP multiple in 6 FY18 post slowdown in last 3‐4 years 4 Sustained cement 2 consumption growth ~ 7% in last 17 y

  18. Slide 18: Demand-Supply Trend

    INDIAN CEMENT INDUSTRY DEMAND-SUPPLY TREND In MnT Incremental S ‐ 257 mnt > D ‐ 132 mnt S ‐ 41 mnt < D ‐ 76 mnt 124 Industry capacity more than 159 doubled in last decade 148 488 496 472 455 417 428 402 376 372 363 345 34 310 328 296 319 Around 55 million tons capacity 276 269 272 214 230 243 249 25

  19. Slide 19: Demand Growth Drivers

    DEMAND GROWTH DRIVERS  Strong demand from IT / ITES,  Rural demand rising with the historically ‐ like Chennai, improvement in rural economy Bangalore & Hyderabad  In recent budget proposal  Private sector Capex is slow increase in crop MSP to 1.5x of cost of production Comm. & Ind. Capex  2 ye

  20. Slide 20: Sector Guidance

    SECTOR GUIDANCE  Demand will move in line with GDP  Government led spending will continue to be a key growth driver:  Government Housing Plan –  Housing for all: 20 ml Houses for urban areas and 40 ml in Rural areas  Pradhan Mantri Awaas Yozana – Gramin : To construct 5.1 ml units in FY18 and 5

  21. Slide 21: UltraTech Landscape

    ADITYA BIRLA Uratoch UltraTech Landscape

  22. Slide 22: UltraTech - A Snapshot

    ULTRATECH A SNAPSHOT Particulars UOM Current Growth Capacity  Consolidated capacity at 90.8 mtpa Grey Cement (Incl. Overseas) Mtpa 90.8  Proven Capabilities to Grow: Organically White Cement + Wall Care Putty Mtpa 1.5 49 Mtpa and Inorganically 42 Mtpa. RMC Mn. Cub. Mtr. 14.8 Captive Power Plants M

  23. Slide 23: UltraTech - India Footprint

    ULTRATECH - INDIA FOOTPRINT  19 Integrated Units  20 Grinding Units  6 Bulk Packaging Terminals (Sea+Rail)  2 White Cement & Putty Units  5 Jetties  1 IU, 1 GU & 1 putty plant in‐Progress Zones Zonal Capacity (mtpa) Share in Capacity Mix Rank Industry North 17.6 19% 17% II Central 21.1* 23% 35

  24. Slide 24: Operational and Financial Performance

    Operational and Financial Performance

  25. Slide 25: Sectoral Update Q4 FY18 - State-wise Performance

    SECTORAL UPDATE Q4 FY18 STATE-WISE PERFORMANCE State/ Region Vol. Gr. I LCH RH UH C Key Drivers Haryana Infrastructure spends and Rural IHB Delhi + NCR Infrastructure spends Punjab Rural Housing and Commercial Himachal Pradesh Poor water availability Rajasthan Poor sand availability North Infrastruc

  26. Slide 26: Sectoral Update Q4 FY18 - State-wise Performance

    SECTORAL UPDATE Q4 FY18 STATE WISE PERFORMANCE State/ Region Vol. Gr. I LCH RH UH C Key Drivers West Bengal Infrastructure spends and PMAY Bihar Infrastructure spends and IHB Jharkhand PMAY and IHB Odisha Infrastructure spends, PMAY & IHB Chhattisgarh Rural infrastructure and housing East Infrastruc

  27. Slide 27: Acquired Assets - Achieved Target Ahead of Schedule

    ACQUIRED ASSETS ACHIEVED TARGET A QUARTER AHEAD OF SCHEDULE Capacity Achieved Cash Pet coke usage Costs gap with utilization ~ 75% Brake‐even in kilns at 75% existing plants (Debt Funding – narrowing down 80%) Completed integration in < 9 months 25

  28. Slide 28: Acquired Assets - What Next

    ACQUIRED ASSETS WHAT NEXT Bring down costs to Enlarge dealer and Expand UltraTech Ensure synergic UltraTech standards retailer network to Building Solutions existence of (barring structural increase market (‘UBS’) into acquired and differences) share newer markets existing plants PBT Break‐even of a

  29. Slide 29: Q4 - Highlights

    Q4 – HIGHLIGHTS STANDALONE Domestic sales volume (MnT) Turnover (` Crs) 32% growth 37% growth 17.6 8881 13.4 6500 Q4FY17 Q4FY18 Q4FY17 Q4FY18 EBITDA (` Crs) Operating EBITDA (` per ton) 19% growth 2% growth 1809 922 1518 908 Q4FY17 Q4FY18 Q4FY17 Q4FY18 27

  30. Slide 30: Sales Performance

    SALES PERFORMANCE (STANDALONE) Mnt Q4 (January – March) Annual (April – March) Particulars CY LY % CY LY % Capacity (mtpa)* 85.0 66.3 28 85.0 66.3 28 Capacity Utilization 80% 82% (2) 71% 72% (1) Domestic Sales 17.64 13.35 32 57.75 47.62 21 Exports & Others 0.82 0.72 15 2.90 2.56 13 Total 18.47 14.

  31. Slide 31: Logistics Cost Trends

    LOGISTICS COST TRENDS (GREY CEMENT) Logistics cost (`/t) ‐ % of total costs: 34% Sequentially costs increased : 4% 1166 1127  Increased diesel prices 8% 1104  Poor rail network in Eastern India YoY costs increased: 6%  More FOR sales [Impact ~ 3%] Q4 FY17 Q3 FY18 Q4 FY18  Road freight rates incr

  32. Slide 32: Energy Cost Trends

    ENERGY COST TRENDS (GREY CEMENT) Energy Cost (`/t) ‐ % of total costs: 29% YoY costs escalated: 17% 987 949  Pet coke prices soared 20% at $104/t 4%  Pet coke banned in TPPs 840  Savings from efficiency improvement program:  Efficiency gain in WHRS operations  Lower power consumption : 3% Q4 FY

  33. Slide 33: Income Statement (Standalone)

    INCOME STATEMENT (STANDALONE) ` crs Q4 Annual CY LY Particulars CY LY % % 8881 6500 37 Revenues (net of taxes) 29363 23616 24 1809 1518 19 EBITDA 6478 5629 15 20% 23% (3) Margin (%) 22% 24% (2) 335 153 Finance costs 1186 571 481 349 (38) Depreciation 1764 1282 (38) 993 1016 (2) PBT 3528 3776 (7) 3

  34. Slide 34: Income Statement (Consolidated)

    INCOME STATEMENT (CONSOLIDATED) ` crs Q4 FY Particulars CY LY % CY LY % 9298 6922 34 Revenues (net of taxes) 30973 25092 23 1887 1577 20 EBITDA 6729 5861 15 20% 23% (2) Margin (%) 22% 23% (2) 344 167 Finance costs 1233 640 501 356 (41) Depreciation 1848 1348 (37) 1042 1054 (1) PBT 3648 3872 (6) 31

  35. Slide 35: Financial Position

    FINANCIAL POSITION ` crs Consolidated Standalone Particulars 31.03.18 31.03.17 31.03.18 31.03.17 26397 24402 Shareholders Funds 25923 23941 19480 8474 Loans 17420 6240 3173 2773 Deferred Tax Liabilities 3174 2774 49051 35649 Sources of Funds 46517 32955 42296 26039 Fixed Assets 40782 24387 1036 1085

  36. Slide 36: Cash Flow Statement (Standalone)

    CASH FLOW STATEMENT (STANDALONE) ` crs Particulars FY18 FY17 Operating Cash Profit (Net of Tax) 5684 4890 Change in Working Capital (608) 289 Cash Flow from Operations (I) 5076 5180 Capex for Expansion & Maintenance (II) (1935)* (1191) Dividend Paid (III) (330) (311) Cash Surplus (I+II+III) 2811 367

  37. Slide 37: Financial Indicators

    FINANCIAL INDICATORS Consolidated Standalone Indicators 31.03.18 31.03.17 31.03.18 31.03.17 0.53 (0.01) Net Debt: Equity 0.46 (0.10) 2.09 (0.04) Net Debt / EBITDA 1.85 (0.43) 4.0 7.2 Interest Cover 4.0 7.5 9.7% 12.8% ROCE 9.9% 13.4% 5.1% 7.7% ROIC 4.7% 8.1% 961 889 Book Value (`/Share) 944 872 80.9

  38. Slide 38: Historical Performance Trend

    Historical Performance Trend

  39. Slide 39: EBITDA: Rs per Ton

    EBITDA: ` PER TON (INDIA) 1308 1191 1187 125 1156 1122 113 1079 154 1051 1036 1032 128 992 132 979 98 83 171 98 81 1183 57 1078 833 * 1033 1028 990 939 949 32 953 911 908 922 801 FY15 FY16 Q1FY17 Q2FY17 Q3FY17 Q4FY17 FY17 Q1FY18 Q2FY18 Q3FY18 Q4FY18 FY18 Operating Profit Other Income Total EBITDA *

  40. Slide 40: Key Performance Trends (Consolidated)

    KEY PERFORMANCE TRENDS (CONSOLIDATED) Grey Cement production (Million tons) Grey Cement sales volume (Million tons) 63.28 60.79 52.40 50.57 51.00 51.33 46.71 48.18 43.60 44.66 42.59 43.63 FY 13 FY 14 FY 15 FY 16 FY17 FY18 FY 13 FY 14 FY 15 FY 16 FY17 FY18 38

  41. Slide 41: Key Performance Trends (Consolidated)

    KEY PERFORMANCE TRENDS (CONSOLIDATED) Revenue * (` Cr) EBIDTA * (` Cr) 30793 6729 5861 24880 25092 24056 21161 21443 5365 5143 4776 4358 FY 13 FY 14 FY 15 FY 16 FY17 FY18 FY 13 FY 14 FY 15 FY 16 FY17 FY18 Note: Figures of FY15 & prior are reported nos. as per previous Indian Accounting Standards 39

  42. Slide 42: Grey Cement Costs Trends - Energy

    GREY CEMENT COSTS TRENDS (STANDALONE) Energy Cost (` / Mt) Comparative Cost (Trend TPP / WHRS ) TPP Rate WHRS Rate 989 979 951 938 824 763 FY 13 FY 14 FY 15 FY16 FY17 FY18 FY 13 FY 14 FY 15 FY16 FY17 FY18 Fuel Mix FY13 FY14 FY15 FY16 FY17 FY18 Power Mix FY13 FY14 FY15 FY16 FY17 FY18 Imported Coal 35

  43. Slide 43: Grey Cement Costs Trends - Raw Materials and Logistics

    GREY CEMENT COSTS TRENDS (STANDALONE) Raw Materials Cost (` / Mt) Logistics Cost (` / Mt) 1124 473 1099 464 467 1074 1075 444 419 976 399 925 FY 13 FY 14 FY 15 FY 16 FY17 FY18 FY 13 FY 14 FY 15 FY16 FY17 FY18 Mix FY13 FY14 FY15 FY 16 FY17 FY18 Rail 34% 34% 29% 28% 25% 24% Inflationary costs trends R

  44. Slide 44: One step ahead...

    ADITYA BIRLA Ultratech One step ahead... > et

  45. Slide 45: Quarterly Performance Trends (Standalone)

    QUARTERLY PERFORMANCE TRENDS (STANDALONE) ` crs Particulars Q4FY18 Q3FY18 Q2FY18 Q1FY18 Q4FY17 Q3FY17 Q2FY17 Q1FY17 Grey Sales Volume (MnT) 18.07 15.52 12.84 12.90 13.69 11.40 10.86 12.92 Net Sales 8881 7471 6478 6533 6500 5540 5397 6179 Realisation (`/mt) 4808 4713 4929 4954 4619 4721 4828 4681 EBI

  46. Slide 46: Quarterly Performance Trends (Standalone) contd

    QUARTERLY PERFORMANCE TRENDS (STANDALONE) CONTD… ` crs Particulars Mar’18 Dec’17 Sep’17 Jun’17 Mar’17 Dec’16 Sep’16 Jun’16 FINANCIAL POSITION Net Fixed Assets incl. CWIP 40782 40705 40531 40550 24387 24397 24455 24462 NWC + Derivative Assets (428) 3 268 (709) (840) (481) (317) (667) Shareholders Fun

  47. Slide 47: Quarterly Performance Trends (Consolidated)

    QUARTERLY PERFORMANCE TRENDS (CONSOLIDATED) ` crs Particulars Q4FY18 Q3FY18 Q2FY18 Q1FY18 Q4FY17 Q3FY17 Q2FY17 Q1FY17 Grey Sales Volume (MnT) 19.05 16.56 13.72 13.95 14.73 12.32 11.57 13.78 Net Sales 9298 7897 6840 6938 6922 5927 5708 6535 Realisation (`/mt) 4781 4676 4878 4874 4579 4683 4805 4646 E

  48. Slide 48: Quarterly Performance Trends (Consolidated) contd

    QUARTERLY PERFORMANCE TRENDS (CONSOLIDATED) CONTD… ` crs Particulars Mar’18 Dec’17 Sep’17 Jun’17 Mar’17 Dec’16 Sep’16 Jun’16 FINANCIAL POSITION Net Fixed Assets incl. CWIP 42296 42298 42172 42178 26039 26129 26134 26130 NWC + Derivative Assets 265 700 924 (8) (188) 216 325 (39) Shareholders Fund (In

  49. Slide 49: Historical Performance Trends (Standalone)

    HISTORICAL PERFORMANCE TRENDS (STANDALONE) ` crs Particulars FY18 FY17 FY16 FY15 FY14 FY13 FY12 FY11 FY10 FY09 FY08 Grey Cement Volume (MnT) 59.3 48.9 48.0 44.8 41.5 40.7 40.7 34.8 20.2 18.2 17.1 Net Sales 29363 23616 23440 22648 20078 20023 18158 13206 7050 6383 5509 Realisation (`/mt) 4841 4706 47

  50. Slide 50: Historical Performance Trends (Standalone) contd

    HISTORICAL PERFORMANCE TRENDS (STANDALONE) CONTD… ` crs Particulars Mar’18 Mar’17 Mar’16 Mar’15 Mar’14 Mar’13 Mar’12 Mar’11 Mar’10 Mar’09 FINANCIAL POSITION Net Fixed Assets incl. CWIP 40782 24387 24499 23632 18650 17415 14798 12506 5201 5313 NWC + Derivative Assets (428) (840) 21 223 551 25 164 305

  51. Slide 51: Free Cash Flow Statement

    FREE CASH FLOW STATEMENT STANDALONE ` crs Particulars FY18 FY17 FY16 FY15 FY14 FY13 FY12 FY11 FY10 FY09 Operating Cash Profit (Net of Tax) 5684 4890 4279 4427 3497 4266 3797 2311 1705 1601 Change in Working Capital (608) 289 914 236 21 (229) (143) (118) (87) (87) Cash Flow from Operations (I) 5076 5

  52. Slide 52: Historical Performance Trends (Consolidated)

    HISTORICAL PERFORMANCE TRENDS (CONSOLIDATED) ` crs Particulars FY18 FY17 FY16 FY15 FY14 FY13 FY12 FY11 FY10 FY09 Grey Cement Volume (MnT) 63.3 52.4 51.3 48.2 44.7 43.6 44.0 36.9 20.3 18.5 Net Sales 30973 25092 24880 24056 21443 21161 19077 13687 7175 6564 Realisation (`/Mt) 4895 4789 4847 4993 4801

  53. Slide 53: Historical Performance Trends (Consolidated) contd

    HISTORICAL PERFORMANCE TRENDS (CONSOLIDATED) CONTD… ` crs Particulars Mar’18 Mar’17 Mar’16 Mar’15 Mar’14 Mar’13 Mar’12 Mar’11 Mar’10 Mar’09 FINANCIAL POSITION Net Fixed Assets incl. CWIP 42296 26039 26127 25186 20090 18733 15999 13505 5218 5334 NWC + Derivative Assets 265 (188) 667 780 902 376 420 4

  54. Slide 54: Income Statement (Standalone) US$ Mn

    INCOME STATEMENT (STANDALONE) US$ Mn Q4 FY CY LY Particulars CY LY % % 1380 1010 37 Revenues (net of taxes) 4563 3670 24 281 236 19 EBITDA 1007 875 15 20% 23% (3) Margin (%) 22% 24% (2) 52 24 Finance costs 184 89 75 54 (38) Depreciation 274 199 (38) 154 158 (2) PBT 548 587 (7) 49 51 3 Tax Expenses

  55. Slide 55: Income Statement (Consolidated) US$ Mn

    INCOME STATEMENT (CONSOLIDATED) US$ Mn Q4 FY Particulars CY LY % CY LY % 1445 1076 34 Revenues (net of taxes) 4813 3899 23 293 245 20 EBITDA 1046 911 15 20% 23% (2) Margin (%) 22% 23% (2) 54 26 Finance costs 192 99 78 55 (41) Depreciation 287 210 (37) 162 164 (1) PBT 567 602 (6) 49 51 3 Tax Expens

  56. Slide 56: Financial Position US$ Mn

    FINANCIAL POSITION US$ Mn Consolidated Standalone Indicators 31.03.18 31.03.17 31.03.18 31.03.17 4102 3792 Shareholders Funds 4028 3720 3027 1317 Loans 2707 970 493 431 Deferred Tax Liabilities 493 431 7622 5540 Total Sources of Funds 7229 5121 6573 4046 Fixed Assets 6338 3790 161 169 Goodwill ‐ ‐ 8

  57. Slide 57: Historical Performance Trends (Standalone) US$ Mn

    HISTORICAL PERFORMANCE TRENDS (STANDALONE) US$ Mn Particulars FY18 FY17 FY16 FY15 FY14 FY13 FY12 FY11 FY10 FY09 Grey Cement Volume (MnT) 59.3 48.9 48.0 44.8 41.5 40.7 40.7 34.8 20.2 18.2 Net Sales 4563 3670 3643 3519 3120 3112 2822 2052 1096 992 Realisation(US$/mt) 75 73 74 76 73 75 68 58 54 55 EBIT

  58. Slide 58: Historical Performance Trends (Standalone) contd US$ Mn

    HISTORICAL PERFORMANCE TRENDS (STANDALONE) CONTD… US$ Mn Particulars Mar’18 Mar’17 Mar’16 Mar’15 Mar’14 Mar’13 Mar’12 Mar’11 Mar’10 Mar’09 FINANCIAL POSITION Net Fixed Assets incl. CWIP 6338 3790 3807 3672 2898 2706 2300 1943 808 826 NWC + Derivative Assets (67) (131) 3 35 86 4 25 47 27 18 Sharehold

  59. Slide 59: Historical Performance Trends (Consolidated) US$ Mn

    HISTORICAL PERFORMANCE TRENDS (CONSOLIDATED) US$ Mn Particulars FY18 FY17 FY16 FY15 FY14 FY13 FY12 FY11 FY10 FY09 Grey Cement Volume (MnT) 63.3 52.4 51.3 48.2 44.7 43.6 44.0 36.9 20.3 18.50 Net Sales 4813 3899 3866 3738 3332 3288 2965 2127 1115 1020 Realisation (US$/mt) 76 74 75 78 75 75 67 58 55 55

  60. Slide 60: Historical Performance Trends (Consolidated) contd US$ Mn

    HISTORICAL PERFORMANCE TRENDS (CONSOLIDATED) CONTD… US$ Mn Particulars Mar’18 Mar’17 Mar’16 Mar’15 Mar’14 Mar’13 Mar’12 Mar’11 Mar’10 Mar’09 FINANCIAL POSITION Net Fixed Assets incl. CWIP 6573 4046 4060 3914 3122 2911 2486 2099 811 829 NWC + Derivative Assets 41 (29) 104 121 140 58 65 77 32 22 Share

  61. Slide 61: Disclaimer

    Disclaimer Statements in this “Presentation” describing the Company’s objectives, estimates, expectations or predictions may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Impor

UltraTech Cement — Investor Presentation (May 2018) on 6ix