Grasim Industries Q4 Results: Profit down 42% to Rs 2,355 crore
Grasim Industries Limited, a flagship company of the Aditya Birla Group, announced its Q4 results. The company’s profit fell by 42% to Rs 2,355 crore, compared to Rs 4,078 crore during the same period last year. The company’s revenue for the quarter was Rs 24,682 crore, compared to Rs 23,847 crore in Q4 of the previous year.
The company’s gross debt as of March 31, 2023, was Rs 65,898 crore, and the net debt was Rs 54,881 crore. The company’s board of directors has approved the issuance of non-convertible debentures (NCDs) worth Rs 1,000 crore on a private placement basis.
FY23 Revenue Rs. 1 lakh crore crossed
Grasim Industries Limited has crossed Rs. 1 lakh crore in revenue for FY23. The company’s revenue in FY22 was Rs. 84,921 crore, and in FY23, it has grown by 17.9% to Rs. 1,00,065 crore.
The company’s cement segment, UltraTech Cement, has contributed significantly to the revenue growth. It has achieved a 23.2% growth in revenue, from Rs. 45,287 crore in FY22 to Rs. 55,782 crore in FY23.
Grasim Industries aims to continue its growth trajectory in the future with a focus on sustainable and innovative solutions.
Non-core business divestment to reduce debt
Grasim Industries Limited has announced its plan to divest from its non-core businesses to reduce debt. The company is looking to sell its fertilizer business, which will enable it to reduce debt by Rs. 6,500 crore.
The company is also exploring options to divest from its textiles business, with a focus on building materials and chemicals. The company intends to use the proceeds from the divestment to strengthen its core business and reduce debt.
Grasim Industries is committed to actively managing its business portfolio to maximize shareholder value. The company believes that its core businesses of cement, viscose staple fiber, and chemicals have strong growth potential.
Investments in new sustainable solutions
Grasim Industries Limited is investing in new sustainable solutions to drive growth while mitigating the impact on the environment. The company is exploring the use of biomass as a renewable energy source and has set a target to achieve 40% of its energy requirements from renewable sources by 2025.
The company is also working on developing sustainable alternatives to traditional products. For example, it has launched a bio-based viscose fiber, LivaRevive, which uses 50% recycled material and reduces water consumption by 50%.
Grasim Industries’ investments in sustainability are driven by its belief that responsible business practices can create long-term value for all stakeholders.
Outlook
Grasim Industries Limited is committed to maintaining its growth trajectory in the future. The company plans to continue its focus on sustainable innovation and strengthen its core businesses.
The company’s strategic divestments in non-core businesses will enable it to reduce debt and invest in its core businesses. Grasim Industries remains confident in its ability to deliver long-term value to its stakeholders while addressing global challenges such as climate change and resource scarcity.
Conclusion
Grasim Industries Limited, a flagship company of the Aditya Birla Group, has reported its Q4 results. The company’s profit fell by 42% to Rs 2,355 crore, compared to Rs 4,078 crore during the same period last year. However, the company’s revenue for the quarter was Rs 24,682 crore, an increase from Rs 23,847 crore in Q4 of the previous year.
The company has crossed Rs. 1 lakh crore in revenue for FY23, driven by its cement business, UltraTech Cement. Grasim Industries is committed to divesting from its non-core businesses to reduce debt and invest in its core businesses.
The company’s focus on sustainable innovation and responsible business practices is a key driver of its growth strategy. Grasim Industries remains confident about its ability to deliver long-term value to its stakeholders while addressing global challenges.
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