UltraTech Reports Results (unaudited) for the Quarter Ended 31st March, 2006

Mumbai, Maharashtra, India

UltraTech Cement Limited, an Aditya Birla Group Company has reported net sales of Rs.1,022 crores for the quarter ended 31st March,2006 as against Rs.698 crores for the same period, last year, resulting in an effective increase of 31 % (after adjusting the freight and trading sales impact). The operating profit stood at Rs.199 crores (Rs. 113 crores). After providing for interest Rs.22 crores (Rs.26 crores), depreciation Rs.55 crores (Rs. 51 crores), provision for diminution in value of investments Rs.Nil (Rs.77 crores) and tax at Rs.40 crores {Rs.(47)crores}, the Profit after Tax stood at Rs.82 crores (Rs.5 crores).

During the period, the Company produced 3.69 MMT of cement (3.42 MMT) operating at 100% capacity.

Aggregate Sales Volumes at 4.50 MMT (3.86 MMT) was up by 17 %. The Company continued to maintain increased share of cement in its exports mix, which constitutes 60 % of exports.

Power and fuel costs rose by over 8% during the quarter mainly on account of increase in petro products prices.

The Board has approved an incremental capex of around Rs.490 crores towards improvement in productivity and cost efficiencies and Rs.270 crores towards setting up of another captive TPP.

Shareholders of the Company have approved the Scheme of Amalgamation of Narmada Cement Company Limited (NCCL), a subsidiary of the Company, in February 2006. The Scheme is now subject to the approval of BIFR, upon receipt of which shareholders of NCCL will be allotted 1(one) Equity Share of Rs.10/- each credited as fully paid up of the Company, for every 18 (eighteen) Equity Shares of Rs.10/- each credited as fully paid-up of NCCL.

The outlook for the industry is indeed very encouraging and is expected to grow over 8% during the current fiscal. The various initiatives taken by the government towards housing and infrastructure development is expected to generate the demand for cement.

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Dr. Pragnya Ram, Aditya Birla Group, +91 (022) 5652 5000 pragnyaram@adityabirla.com

Source: UltraTech Cement Limited (Business Wire India)

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