Cement News tagged under: Grasim Industries

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Grasim Industries announces 2% fall in net profit

16 November 2022, Published under Cement News

Grasim Industries, which has a 57 per cent stake in UltraTech Cement Ltd , has reported standalone net profit of INR9643m (US$118.8m) in the quarter ended 30 September 2022, down 1.5 per cent YoY.  Revenue from operations over the same period advanced almost 37 per cent to INR67,450m, while EBITDA expanded 19.4 per cent to INR9566m. Margins, however, contracted by 206 basis points to 14.18 per cent, according to The Economic Times, driven by a sharp hike in input costs and other expenses...

Grasim Industries announces US$392m capex

30 August 2022, Published under Cement News

India’s Grasim Industries, part of the Aditya Birla Group , is planning capex of INR31,170m (US$391.9m) in its existing lines of business this fiscal year, primarily for the creation of new capacity and modernisation of existing plants. This compares to INR19,580m in the previous fiscal. According to Kumar Mangalam Birla, chairman of Grasim Industries, the investment does not include the group’s paints and B2B e-commerce businesses. In January 2021 Grasim announced plans to enter the pai...

Grasim Industries sees 41% YoY rise in revenue in 1QFY23

15 August 2022, Published under Cement News

Grasim Industries has reported a 41 per cent YoY increase in consolidated revenue in the 1QFY23. The three-month period saw revenue of INR280,420m (US$3518m), compared to INR199,190m in the 1QFY22. EBITDA advanced by 10 per cent YoY from INR47,360m to INR52,330m, while profit after tax saw a 19 per cent YoY rise from INR16,670m to INR19,330m on a consolidated basis. Despite inflationary cost pressures, the company also reported its best-ever standalone financial performance with revenue and ...

Margins squeezed for Indian cement producers

12 August 2022, Published under Cement News

India remains one the fastest-growing economies at 7.4 per cent GDP growth in 2022, according to the IMF. Cement demand has also risen and is forecast to rise by 7-8 per cent in the FY22-23 to around 388Mt, says ICRA Corporate Ratings. This would seem positive for investment in the Indian cement sector, but cement producers have been announcing tighter margins, and raw material and energy costs are expected to further impact margins going forward. Reporting on operating margins for ceme...

Grasim Industries to set up building materials e-commerce platform

21 July 2022, Published under Cement News

Grasim Industries, the flagship company of the  Aditya Birla Group , is investing INR20,000m (US$250m) in a B2B e-commerce platform for building materials.  The platform will primarily focus on micro-, small- and medium-sized enterprises in the building materials segment with the potential to extend into other relevant categories, reports the Financial Express.  The key value proposition would be an integrated procurement solution, including on-time delivery and a superior product range at ‘...

Grasim Industries's net profits rise by 28% in 1QFY19

15 August 2019, Published under Cement News

Grasim Industries (Aditya Birla Group) recorded a consolidated net profit rise of INR17,860m (US$250.4m) for the June quarter, up by 27.86 per cent, with strong performances from its subsidiaries UltraTech Cement and Aditya Birla Capital. The company’s total income increased by 12.72 per cent to INR19,091bn during April-June 2019, up from INR16,937bn. Revenues form the cement business during the quarter stood at INR10,177bn, a rise of 14.35 per cent on the corresponding quarter of last year.

Grasim looks to invest INR59bn in modernising its cement plants

25 May 2018, Published under Cement News

India’s Grasim Industries will invest over INR130bn (US$1.9bn) in its cement and textiles businesses over the next 24-36 months, as the company looks to increase capacity and modernise production, according to a senior official of the group. The company, including its subsidiary, UltraTech, will invest INR59bn in modernising its existing cement plants, while also carrying out environmental upgrades and increasing the capacity of the assets acquired from Jaiprakash Associates. Business res...

India: Grasim Industries' 3Q net profit rises 14 per cent

31 January 2017, Published under Cement News

Grasim Industries reported a net profit of INR728,200m for the December quarter, up 14 per cent from INR640,470m on a YoY basis, helped by better realisations at its viscose staple fibre business. Net sales for the company rose one per cent to INR9470,950m. Analysts, on an average, were expecting a profit of INR819,400m on revenue of INR8806.850m, according to a Bloomberg poll.

 The consolidated results of the Aditya Birla Group company include the performance of UltraTech Cement, vis...

India: Grasim and UltraTech well positioned for growth

09 May 2016, Published under Cement News

Grasim Industries, a subsidiary of UltraTech, has announced impressive results and signs of a recovery in cement demand growth, which is estimated at ~11.5 per cent for the current quarter. Meanwhile, UltraTech outpaced the industry with domestic volume growth of 15 per cent. Revenue for the quarter was INR69.2bn (US$bn1.04bn) vis-à-vis INR65.95bn (US$991m) in 4Q15. EBITDA was up by three per cent at INR14.78bn. helped by enhanced volumes and lower fuel prices. Net profit was INR7.23bn co...

JP Morgan downgrades UltraTech Cement, India

24 July 2012, Published under Cement News

JP Morgan downgrades UltraTech stock to "underweight" from "neutral" citing "stretched" valuations. JP Morgan says Ultratech, India's leading cement producer, is trading at 10 times enterprise value/EBITDA and at 18 times P/E. The U.S. investment bank also lowers its target price to INR1400 from INR1250. Ultratech Cement on Friday reported a 14 per cent net profit for the April-June quarter. JP Morgan says prefers to invest in the Indian cement sector via Ultratech parent Grasim Industri...