The Standalone cash profit for the quarter was `1,041 Cr. up by 29% YoY.
The Standalone PAT (after exceptional item) was (-) `1,187 Cr. after considering a onetime non-cash exceptional item of `2,003 Cr. The Consolidated PAT (after exceptional items) was (-) `1,446 Cr.
The Net Revenue for Q2FY19 at `2,606 Cr. is up by 23% and EBITDA at `576 Cr., rose by 23% vis-à-vis the comparable quarter of the earlier year.
The VSF business reported quarterly production and sales volume of 137KT and 136KT respectively. The share of the domestic sales in the overall sales rose to 84% in Q2FY19 from 70% in Q2FY18, led by a robust demand.
The Company continues to focus on operational excellence and achieving global standards in sustainability. The industry leading reduction in water consumption at its plants and benchmark product quality are steps in this direction.
The Brownfield capacity expansion plan of 219 KTPA at Vilayat is progressing well. Significant ordering of the long lead items has been done. Work at site has commenced with the ground breaking ceremony in October 2018.
Caustic soda prices softened sequentially led by capacity restarts in China and Europe. The overall demand for caustic soda is expected to remain stable going forward.
The Net Revenue for the quarter rose by 38% YoY to `1,612 Cr. and EBITDA by 60% YoY to `456 Cr. driven by better realization and higher sales volume. The management focus on increasing the volume of speciality products (chlorine based value added products continues.
The phosphoric acid plant of 29KTPA at Vilayat (Gujarat) has been commissioned, taking the total capacity of the Company to 54KTPA.
The total capex plan of ~`7,500 Cr. (at standalone level) is under execution for raising capacities in both the VSF and Chemical businesses, apart from maintenance capex at various plants. This capital expenditure will be incurred over FY19-FY21 and will be majorly funded by internal accruals. The cash profit generated in H1FY19 is over `1,900 Cr.
The VSF business continues to focus on expanding the market in India by partnering with the textile value chain, achieving better customer connect through brand LIVA and intensive research work in enriching the product mix through a larger share of specialty fibre. To cater to the expanding market, the Company has commenced brown field capacity expansion at Vilayat as mentioned
The Chemical business is witnessing a healthy growth with a good demand momentum in the down stream industries for both caustic soda and specialty products. To meet the increasing customer demand, the Company has initiated a brown field capacity expansion for caustic soda as well as specialty chemicals, taking the total caustic soda capacity to 1,310 KTPA by FY22.
In Cement, demand is witnessing an upward movement with higher spends on infrastructure and government sponsored programs. With the additional capacities acquired through the organic and inorganic route and its rapid ramp-up. UltraTech is very well placed to participate in the growth of the economy.
In Financial Services, ABCL has built a leadership position in a number of businesses. It is in the unique position of being able to provide Universal Financial Solutions to meet customers’ money needs for life. ABCL’s focused customer-centric approach under a single brand “Aditya Birla Capital” enables it to chart a differentiated and disciplined path to growth.