Flagship entities of groups such as L&T, Vedanta, Grasim & Adani reported double-digit employee turnover in FY24
Speaking at the company's 77th Annual General Meeting, Kumar Mangalam Birla said that Grasim Industries invested Rs 7,000 crore in its paints business
For FY24, Aditya Birla Group's flagship company, Grasim Industries' board of directors has proposed a dividend of Rs 10 per equity share, amounting to a total cash outflow of Rs 669 crore
Grasim Industries to invest Rs 4,553 crore in FY25
On the domestic front, investor attention is focused on forthcoming manufacturing data and the Q4 results of major players such as ITC, IndiGo, and Fortis Healthcare
Aditya Birla Group flagship holding firm Grasim Industries Ltd has reported an increase of 15.54 per cent in consolidated net profit at Rs 2,721.81 crore for the fourth quarter ended March 2024, led by strong performance by its cement and financial services business. The company had posted a net profit of Rs 2,355.67 crore during the January-March quarter a year ago, according to a late night regulatory filing by Grasim Industries on Wednesday. Its revenue from operations was up 12.74 per cent to Rs 37,727.13 crore during the quarter under review. It was at Rs 33,462.14 crore in the corresponding period of the previous fiscal. The consolidated revenue was "at its highest levels," said an earning statement from Grasim Industries. Grasim has an exceptional items charge of Rs 538 crore in the March quarter. Its consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) for the quarter stood "at an all-time high" of Rs 6,196 crore, recording a growth of 27 pe
Company Results Q4 FY24: Jubilant, Ramco Cements, NIIT Learning also anticipated to release fourth quarter earnings on May 22
Grasim Industries on Tuesday said the International Finance Corporation (IFC) has subscribed to its first sustainability-linked non-convertible debentures (NCDs) worth Rs 1,250 crore. The NCDs will support the company's investment in paint manufacturing, and help accelerate its decarbonisation drive through increased adoption of renewable energy and water recycling in the paint manufacturing process, the AB Birla group company said in a statement. The IFC has subscribed to the first sustainability-linked NCDs worth Rs 1,250 crore issued by Grasim Industries, as per a statement. Recently, the Aditya Birla group entered the decorative paints segment with Birla Opus, and had set a target of becoming a Rs 10,000-crore company within three years of full-scale operations. Grasim will work collaboratively with the IFC to "further enhance our sustainability footprints as it transitions to a low-carbon economy through renewable projects and energy-efficient products", thus aligning its ...
The investment by IFC, World Bank's private sector arm, will be in the form of a subscription to non-convertible debentures (NCD) issued by Grasim
Management guidance was that the VSF margin is stable. Even though caustic soda price is down, global prices are likely to bottom soon
Further, it aims to become the second-biggest player in the Rs 80,000 crore Indian decorative paints market, which is currently dominated by Asian Paints
Closing Bell on November 13, 2023: SBI Life, Bajaj Finance, Grasim, Infosys, Nestle India, Apollo Hospitals, Tech M, ICICI Bank, and HDFC Bank were the top laggards
Caustic soda prices may have bottomed out and started to improve from lows and should be higher in Q3FY24
Stocks to watch on Oct 17, 2023: HDFC Bank reported a 50 per cent jump in net in its first results after merger with HDFC; Jio Financial posted 100 per cent growth in net post demerger from Reliance.
The fund raise comes a month after of the textile-to-chemicals maker announced plans to enter the paint business under the brand name 'Birla Opus' in the fourth-quarter of fiscal 2024
Stocks to watch on September 11, 2023: Balrampur, Delta Corp, India Cements, Manappuram, PNB and SAIL among nine stocks in F&O ban on Monday.
The textile division of Grasim Industries is planning to expand its footprint in smaller cities and towns by opening around 100-120 retail stores over the next couple of years, a senior official of the company said. It also hopes for a surge in demand for textile products in the upcoming festive season. "We are optimistic about the growth story of India. We plan to expand in both retail and wholesale businesses. Over the next two years, we plan to open 100-120 Linen Club retail stores in smaller cities and towns," Satyaki Ghosh, CEO, (Domestic Textiles), told PTI in an interview. Linen Club is Grasim Textiles' premium brand of linen products. Linen comprises about one-third of the company's textile business of around Rs 3,000 crore. Currently, Grasim Textiles has around 217 brand stores across the country. Ghosh, who was in Kolkata to inaugurate a Linen Club store, said the company also plans to expand its reach to 12,000 multi-brand retailers in these markets, from about 8,500 at
Aditya Birla group firm Grasim Industries aims to become the second largest player in the paints sector which it considers a "high-potential" growth engine along with its new B2B e-commerce business for construction materials, its Chairman Kumar Mangalam Birla said at the company's AGM on Friday. The Aditya Birla group flagship firm is now shifting focus to the new businesses and has embarked on a transformational growth phase with the incubation of two new high-potential growth enginesPaints and B2B e-commerce for building materials, he said. Grasim last year doubled its planned investment to Rs 10,000 crore in setting up the paints business, where it has plans to compete with the existing makers including Asian Paints, Berger Paints, Kansai Nerolac Paints, and Akzo Nobel India, among others. In the Paints business, the project work is progressing as per plans at all the six sites, and commissioning of plants will start in phases from Q4FY24. The state-of-the-art R&D facility is .
On October 30, 2020, the two companies announced the plans to launch the initial phase of the plant in 2022, but it was postponed due to the coronavirus pandemic
Grasim Industries, the flagship company of the Aditya Birla Group, on Tuesday announced entering into three term loan agreements totalling Rs 5,000 crore to finance capital expenditure and repayment of existing loans. It has executed agreements for a secured loan of Rs 4,850 crore and two unsecured loans of Rs 70 crore and Rs 80 crore, Grasim Industries said in an exchange filing. "The company has entered into three Term Loan Agreements on April 3, 2023, to avail the Rupee Term Loan facility aggregating to Rs 5,000 crore from Axis Bank Limited in terms of the approval by the Finance Committee of the Company," it said. The rupee term loans "are of 10 years tenor", it added. It will utilise Rs 4,850 crore loan for capital expenditure, reimbursement of capital expenditure already incurred in the last 12 months or re-payment of existing borrowings. While the other two unsecured term loans worth Rs 150 crore "shall be utilised for capital expenditure of identified projects," it ...