The acquisition of additional stake of 4.09% by BGHPL has been made under a scheme of amalgamation.According to the company filings, around 2,67,46,262 fully paid equity shares of face value of Rs 2 (3.9% equity) and 10,63,204 partly paid equity shares of Rs 0.50 (0.16% equity) in Grasim Industries held by Umang Commercial Company Private Limited were transferred to BGHPL on May 24, 2024.
The combined promoter/promoter group holding in the company remains unchanged at 43.06%.Grasim Industries share price on Tuesday closed at Rs 2,435.10 on the NSE, up Rs 44.45 or 1.86%.
Aditya Birla Group-owned Grasim on Wednesday reported a 39 percent rise in consolidated net profit excluding special items to Rs 19,080 crore for the fiscal year ending March 2024, from Rs 13,690 crore in the same period last year.
Revenue from operations for the reporting period grew 13% to Rs 37,727 crore from Rs 4,873 crore in the corresponding period last year. EBITDA (Earnings before interest, tax, depreciation and amortisation) for the January quarter was Rs 6,196 crore, up 27% year-on-year. CSF prices in China increased marginally during the quarter, reflecting improving demand conditions and stable utilisation rates (85%). However, export prices remained soft due to global overcapacity and lower raw material prices. Demand in India during the quarter was impacted by amendments in the MSME policy, resulting in lower inventory build-up in the textile value chain. The CFY business continues to be impacted by rising cheap imports from China in an already weak demand market.
Grasim CSF’s production volume grew 8% YoY to 208,000 tonnes. However, revenue for the quarter remained flat at Rs 3,762 crore due to weaker earnings. Segment EBITDA grew 15% QoQ to Rs 462 crore, mainly due to lower input costs.
The chemicals business saw caustic soda sales volumes reach a record high of 308 ktonnes in Q4FY24, up 8% YoY. However, revenues declined 13% YoY to Rs 2,083 crore due to a sharp decline in ECU realisations of 28% YoY.
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