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Grasim Industries commissions CMS project in Gujarat

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The company said it commissioned Chloromethane (CMS) project at Vilayat Unit in Gujarat on 4 November 2021.

Grasim Industries said the project has a capacity of 150 ton per day (TPD) / 50,000 ton per annum (TPA). It will cater to both domestic and international market. This will result into an additional annualised revenue of about Rs 400 crore, the company said in a statement.

CMS, also called methyl chloride, is an organic compound.

On a consolidated basis, Grasim Industries' net profit jumped 296.80% to Rs 2,447.97 crore on 52.7% rise in net sales to Rs 19,919.40 crore in Q1 FY22 over Q1 FY21. The company's board will consider Q2 result on 12 November 2021.

Grasim Industries is a leading global producer of Viscose Staple Fibre, the largest Chlor-Alkali, Linen and Insulators player in India. Through its subsidiaries, UltraTech Cement and Aditya Birla Capital, it is also India's largest cement producer and a leading diversified financial services player.

Shares of Grasim Industries rose 0.28% to Rs 1791.15 in the special one-hour Muhurat trading session on Thursday, 4 November 2021.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Sat, November 06 2021. 09:42 IST