Analysis of 3rd Quarter Result Gujarat Ambuja Cements Ltd'

1
Analysis of 3rd Quarter Result Gujarat Ambuja
Cements Ltd.
April 10, 2003
2
Clinker Production
Lac Tonnes

• 3Q2003 3Q2002 Increase 9M2003 9M2002
  Increase
• Gujarat 11.19 11.46 (2) 32.38
  30.62 6
• Himachal 6.07 5.29 15 16.73
  13.39 25
• Maratha 4.02 -- -- 13.97
  -- --
• Total 21.28 16.75 27 63.08 44.01
  43

3
Clinker Production ( January - March 2003)
mn tonnes

• LT 3.28
• Grasim 2.87
• ACC 2.87
• Ambuja Group 2.79

4
Cement Production
Lac Tonnes

• 3Q2003 3Q2002 Increase 9M2003 9M2002 Increas
  e
• Gujarat 13.93 13.08 6
  34.44 32.51 6
• Himachal/Punjab 7.65 7.09 8
  22.53 20.34 11
• Maharashtra 5.72 -- -- 14.77
  -- --
• Total 27.30 20.17 35 71.74 52.85
  36

5
Cement Production ( January - March 2003)
mn tonnes

• ACC 3.67
• Ambuja Group 3.58
• Grasim 3.14
• LT 2.99

6
Highlights of March 2003

• Highest Production in March - 1mn tonne
• Highest production in Gujarat 5 lac tonnes
• ( Highest by any single location in the
  country)
• Clinker Production - Maratha - 2.25 lac tonnes
• Cement Production -Maratha - 2.17 lac tonnes
• Ambuja Group Despatches - 1.31 mn tonnes

7
Highlights for the Quarter Ended March 2003

• Sales Volume up - 36
• Sales Value up - 27
• Exports up - 61
• Exports 25 of Sales v/s 21
• Change in Sales Mix due to Higher Exports
• Sales Realisations Lower by - 5
• Fuel Prices higher due to high Oil prices
• Excise Duty up from Rs.350 to 400 per tonne from
  March

8
Highlights Contd.

• Despite Low Realisations ,Higher Fuel Cost
  ,Increase in Excise Duty - O/P Margin 31 as
  against 32
• Interest Costs lower by 13 despite higher level
  of Debt due to Maratha Plant
• Highest Quarterly Profits - Before Tax Rs.82.56
  Crores - Up
  by 27
  - After Tax Rs.66.56 Crores
  - Up by 22

9
Sales - Volume
Lac Tonnes

• 3Q 2003 3Q2002 Increase 9M2003 9M2002
  Increase
• Gujarat 6.92 8.70 (20) 20.42
  22.52 (9)
• Himachal/Punjab 7.59 7.11 7
  22.60 20.28 11
• Maharashtra 5.89 -- -- 14.84
  -- --
• Domestic 20.40 15.81 29 57.86
  42.80 35
• Export 6.78 4.20 61 13.70
  9.81 40
• Total 27.18 20.01 36 71.56 52.61
  36

10
Gross Sales Realisation
Rs./ tonne

• Jan-March Oct -Dec
• 2003 2002 Increase / 2002 (Decrease)
• Domestic 2284 2408 (5) 2313
• Export 1193 1180 1 1164
• Total 2012 2151 (6) 2115

11
Gujarat Ambuja Cements Limited (January - March)
Rs. Crores

• 2003 2002 Variance
• Sales -Volume (mn tonnes) 2.72 2.00
  36
• - Value 547 430 27
• Operating Profit 145 121 20
  
• Interest 19 22 (14)
• Cash Profit 126 99 27
  
• Depreciation 43 34 26
• Profit Before Tax 83 65
  28
• Current Tax 7 4 39
  
• Profit after Current Tax 76 61
  25
• Deferred Tax 9 6 59
  
• Profit After Tax 67 55 22
  
• Net Operating Margin 31 32
  --

12
Gujarat Ambuja Cements Limited
Rs. Crores

• 2 0 0 3
• 1Q 2Q 3Q 9M03 9M02
• Sales -Volume (mn tonnes) 2.14 2.30 2.72
  7.16 5.26
• - Value 434 487 547 1468
  1170
• Operating Profit 89 136 145
  370 356
• Interest 22 26 19 67
  73
• Cash Profit 67 110 126 303 283
• Depreciation 43 44 43
  130 101
• Profit Before Tax 24 66 83 172
  182
• Current Tax 2 5 7 13
  13
• Profit after Current Tax 22 61 76
  159 169
• Deferred Tax 5 4 9
  18 17
• Profit After Tax 17 57 67
  141 152
• Net Operating Margin 24 32 31 29
  35

13
Power Cost

• Jan-March Oct -Dec.
  
• 2003
  2002 2002
• Units consumed 86 83 86
• Cost (Rs./Ton) 182 166 187

14
Fuel Cost

• Jan-March
  Oct-Dec
• 2003
  2002 2002
• K. Cal/ Kg of Clinker 728 742
  729
• Cost (Rs./Ton) 218 251 224

15
Cost Of Production
Rs./ tonne

• Jan-March Oct-Dec
• 2003
  2002 2002
• Power 182 166 187
• Fuel 218 251 224
• Raw material 132 124 134
  
• Consumables 29 58 56
• Direct cost 561 599 601

16
Performance of OurSubsidiary Associate Company
17
Ambuja Cement Eastern Limited
Rs. Crores

• 3Q2003 3Q2002 9M2003 9M2002
• Sales - Volume-Lac tonnes 4.43 3.74
  10.04 10.61
• - Value 125.2 94.4
  285.9 260.0
• Operating Profit 30.0 18.9
  61.9 29.8
• Interest 3.9 5.5 13.4
  16.9
• Depreciation 6.1 6.6 18.6
  20.0
• Profit after tax 20.0 6.8
  29.9 (7.1)
• Net Operating Margin 28 23
  25 13

18
Ambuja Cement Rajasthan Limited
Rs. Crores

• 3Q2003 3Q2002 9M2003 9M2002
• Sales - Volume Lac tonnes 4.18 3.45
  10.89 9.55
• - Value 84.3 76.2 234.3
  218.5
• Operating Profit 9.4 11.9 36.0
  31.2
• Interest 9.4 11.2 30.5
  35.5
• Depreciation 6.2 6.1 18.9
  18.6
• Loss
  6.2 5.4 13.4 22.9
• Net Operating Margin 14 19
  19 17

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