Home / Companies / News / Grasim approves Rs 1,615-cr capex plans for FY21 to tackle Covid-19 crisis

Grasim approves Rs 1,615-cr capex plans for FY21 to tackle Covid-19 crisis

In its earnings statement, the company specifies cost rationalisation, demand creation, working capital management and innovation, among others, as key focus areas

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The capex includes raising capacities in VSF (viscose staple fibre) in FY22, apart from ongoing modernisation capex at various plants, the company said

Press Trust of India New Delhi

2 min read Last Updated : Aug 13 2020 | 10:00 PM IST

Aditya Birla Group firm Grasim Industries Ltd on Thursday announced a capex plan of Rs 1,615 crore for the ongoing fiscal in view of business disruptions caused by the Covid-19 pandemic.

In its earnings statement, the company specifies cost rationalisation, demand creation, working capital management and innovation, among others, as key focus areas.

"For the current year, the board has approved a capex plan for Rs 1,615 crore keeping in mind the temporary disruption in the company's earnings," Grasim Industries said.

The capex includes raising capacities in VSF (viscose staple fibre) in FY22, apart from ongoing modernisation capex at various plants, it added.

According

Topics : Coronavirus Capital Expenditure Lockdown Grasim Industries Indian companies Indian Economy

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