Aditya Birla Group agency Grasim Industries on Friday reported 42.1% decline in consolidated web profit at ₹2,355.67 crore for March quarter 2022-23 on account of tax write-backs and different one-off gadgets.
In final monetary 12 months, Grasim crossed the ₹1 lakh crore revenue mark, becoming a member of a choose membership of corporations in India. Its revenue from operation was at ₹1.17 lakh crore.
The firm had posted a web profit of ₹4,070.46 crore throughout January-March 2021-22, Grasim Industries mentioned in a regulatory submitting.
Revenue from operations was up at ₹33,462.14 crore in the course of the quarter underneath overview from ₹28,811.39 crore within the corresponding interval of the earlier fiscal.
“Grasim’s consolidated revenue for Q4FY23 stood at its highest levels of ₹33,462 crore, reflecting a growth of 16% YoY mainly contributed by the strong performance of key subsidiaries,” mentioned an incomes assertion from Grasim Industries.
Total bills have been at ₹30,354.70 crore as towards ₹25,786.54 crore a 12 months in the past.
Total revenue within the March quarter was at ₹33,682.49 crore, up 16.1%.
During January-March, revenue from viscose-pulp, viscose staple fibre (VSF) and filament yarn section was marginally down to ₹3,764.06 crore from ₹3,766.49 crore a 12 months in the past.
“The company’s sales volume of VSF increased by 25% on a QoQ basis to 192KT for Q4FY23. The VSF EBITDA turned positive in Q4FY23 and VFY margins have improved on the back of better realisations and lower raw materials prices,” it mentioned. Revenue from its subsidiary and main cement maker UltraTech Cement was up 18.3% to ₹18,662.38 crore as towards ₹15,767.28 crore of Q4/FY22.
In the March quarter, UltraTech’s “cement sales volume (in FY23) stood at 105.7 MTPA (million tonnes per annum), up 12% YoY achieving a historical milestone of 100 MTPA, the first for any cement company in India”.
Its capability utilisation for the quarter stood at 95%, in contrast to 90% in Q4FY22.
However, its revenue from the chemical substances section was down 3.58% at ₹2,397.47 crore compared with ₹2,486.52 crore within the fourth quarter of FY22.
According to the corporate, although gross sales volumes of caustic soda was up 5% YoY, the worldwide caustic soda market remained oversupplied with flat demand.
Demand for the speciality chemical substances enterprise noticed normalisation of realisations.
Revenue from the monetary providers section — Aditya Birla Capital Ltd (ABCL) — was up 22.2% to ₹8,094.51 crore as towards ₹6,622.35 crore a 12 months in the past.
“The company had a strong customer base of 38 million as of March 31, 2023. The company opened 247 branches during the year taking the total branch count to 1,295 as of March 31, 2023,” it mentioned.
Revenue from different segments was up 25.65% to ₹886.08 crore in January-March FY23 as towards ₹705.17 crore.
For the fiscal ended March 2023, Grasim’s web profit was down 1.14% to ₹11,078.20 crore. It reported a web profit of ₹11,206.29 crore in FY22.
However, its consolidated revenue from operations was up 23% to ₹1,17,627.08 crore in FY23, crossing the ₹1 lakh crore mark. It was at ₹95,701.13 crore in FY22.
The new milestone was led by “the robust performance of its key subsidiaries: UltraTech Cement, Aditya Birla Capital and Aditya Birla Renewables.” Updating concerning the paints enterprise, wherein the Aditya Birla group agency is making a foray, Grasim mentioned development exercise on all six vegetation is on observe and the R&D facility is absolutely operational.
All the marketing strategy actions are progressing in keeping with the plans, main to the industrial launch as scheduled, starting Q4FY24 in phases, it mentioned including go-to-market technique and outreach plan have been finalised.
On whole capex for FY23, Grasim mentioned it stood at ₹4,307 crore together with ₹1,979 crore in direction of the paints enterprise.
The board of Grasim Industries has really useful a dividend of ₹10 per fairness share for 2022-23.
Shares of Grasim Industries on Friday settled at ₹16,87.25 apiece on BSE, down 0.93% from the earlier shut.
