Godrej Inds board approves raising Rs 750 cr

Godrej Industries on Monday (13 July) said its board approved raising Rs 750 crore via non-convertible debentures on a private placement basis.

The board of Godrej Industries on Monday (13 July) approved issuing upto 7,500 rated, listed, unsecured, redeemable, non-convertible debentures having face value of Rs 10,00,000 each, aggregating to Rs 750 crore on private placement basis.

Shares of Godrej Industries were up 0.66% to Rs 366.75. The stock lost 8% in the past four sessions.

Godrej Industries' consolidated net profit slumped 91.3% to Rs 25.90 crore on a 6.4% rise in net sales to Rs 3,120.67 in Q4 March 2020 over Q4 March 2019. Profit before tax (PBT) stood at Rs 208.51 crore in Q4 FY20, down by 60.5% from Rs 528.49 crore in Q4 FY19.

Godrej Industries, a Godrej Group Company, is a conglomerate with a significant presence in home and personal care, animal feeds, dairy and agri-products, poultry, oil palm plantation, real estate development, oleo-chemicals and vegetable oils, both directly and through subsidiaries/associate companies.

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