Grasim Consolidated Sales at All-Time High in Q3, Retail News, Retail ET

Mumbai: Grasim . Industry Co., Ltdon Friday, reported strong 16% year-on-year growth in consolidated revenue for the third quarter at ₹33,462 crore – an all-time high – supported by strong performance by the main subsidiaries.

The Group company Aditya BirlaHowever, consolidated income before interest, tax, depreciation and amortization increased by just 5% y/y at ₹4,873 crore, influenced by weaker performance in several business activities. company’s independent business. unified management margin down 200 basis points for the year to 14%.

adjust net profit, on a consolidated basis, fell 4% year-on-year to ₹1,369 crore. Adjusted profits are net of specials, decommissioning and tax breaks for a similar comparison.

Industry Grasim containing viscose staple fibers and viscose filaments, chlor-alkali, epoxy polymersand textile niche among its independent businesses. It also has 57.27% in UltraTech Cement54.15% stake in The capital city of Aditya Birla and 100% stake in Aditya Birla Renewables.

In 2022-23 (April-March), the stand-alone business contributes up to 23% of total consolidated revenue, while operating profit from the stand-alone business is 24% of operating profit unify.

Independent business revenue rose 4% year-on-year in the third quarter to $6,646, but operating profit fell 35% year-on-year to $542. Operating margin in the independent business sector fell 500 basis points for the year to 8%.

Adjusted profit from independent operations fell 74% year-on-year to 94 crore.

Net profit in the independent business sector has been affected by weaker performance in the chemicals business and continued global weakness in the viscose fiber business.

The company spent a total of ₹4,307 crore on capital expenditure for the period 2022-23 (April-March), of which ₹1,734 crore was spent in the March quarter.

For its paint business, the company spent a total of ₹2,592 crore, about a quarter of the planned capital expenditure on the business. Construction of the six plants is progressing as planned and the company plans to commercially launch the coatings business in phases from Q3 2023-24 (April-March).

weed Industries has announced a dividend of 10 rupees per share.

Its shares closed at ₹1,685.10 on the National Stock Exchange, down 1% from the previous close. The company announced its earnings during market hours.

  • Published on May 27, 2023 at 08:21 AM IST

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