Grassim Industries on Monday recorded a decline of 41 percent year-to-year in its consolidated net profit, which was standing 899 crores for the third quarter. Meanwhile, its revenue increased by 9 percent. 34,793 crore during the same period.
Increased profit increase was affected by increased interest and depreciation expenses, which was operated by investment in the construction material area.
EBITDA integrated for quarter declined by 9% year-on-year 4,668 crores, mainly due to initial investment aimed at the purpose of setting up a strong consumer-focused paints business.
Block-wise growth
Cellulocic fiber reported 6 percent to revenue growth from year to year 3,934 crores, while Ebitda fell 18 percent 331 crores, mainly due to high major input costs.
A stable demand environment in China kept CSF prices stable in Q3Fy24 at $ 1.65/kg. However, CSF sales remained unchanged at 205 kT due to disruption in production at Excel plant in Kharach and seasonal weakened demand towards the end of the quarter.
The CFY business saw an increase in 10% yoy volume on a low basis, but the feeling of cheap imports from China faced pressure.
Revenue from chemical business increased to 12% yoy 2,226 crore, while Ebitda 25% yoy increased 329 crores, inspired by better caustic soda feeling and high profitability in the chlorine derivative segment.
An oversuply of chlorine continued negative feelings, resulting in a minor 8% yoy development in the reality of ECU 34,041/ton. The amount of sales of caustic soda increased only by 1% yoy, as low power availability disrupts production in the merged plant.
Building material segment reported 10% yoy revenue increase 18,784 crores, mainly operated by new businesses, Birla Ops and Birla Pivot.
The initial investment in the establishment of the ‘Birla Opus’ as a low feeling in UltraTech cement and the brand of ‘Birla Opus’ as a consumer-supported brand in India’s decorative paints market led a lower segment EBITDA. 2,806 crores.
The board has approved the 110k Tpa Lyocell capacity extension in Harihar, Karnataka, with the first phase of 55k Tpa to be fulfilled on an investment for an investment by mid -2012 with the first phase of TPA. 1,350 crores.
This expansion will increase the company’s environmentally friendly characteristic fiber portfolio. With this investment, Grasim’s total LeiCel capacity, ‘Birla Excel’ will be marketed under the brand, will reach 153K TPA, which further strengthens its market status.
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