Cement News tagged under: Grasim Industries

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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...

Grasim appoints managing director, India

08 March 2012, Published under Cement News

The Aditya Birla Group of India on Tuesday appointed KK Maheshwari as managing director of Grasim Industries as the company prepares to grow its businesses in India and overseas. Maheshwari, who has been whole-time director of Grasim until now will assume charge as MD immediately, a post created for the first time in the history of the 65 year old company. "The Grasim board decided to have a managing director to assist the chairman in implementing growth plans for the company," Maheshwari ...

Jefferies starts India cement coverage

24 February 2012, Published under Cement News

Jefferies has initiated coverage on the Indian cement industry with a buy rating on ACC, Grasim Industries, India Cements, UltraTech Cement, and hold rating on Ambuja Cements. "We believe India Cements has the highest earnings upside from both volume and price surprises.... Among the large caps, Ultratech looks the best positioned without a significant exposure to south," said Jefferies in a report on Thursday. The house says that it expects the next few years to be good for the cement...