Grasim Industries reported a 66 percent drop in its consolidated net profit to Rs 390 crore in the second quarter, compared to Rs 1,164 crore in the previous year quarter, due to lower cement sales realisations and planned investments in the paints business under the Birla Opus brand, on November 14. In the quarter ended September 30, the company generated revenue of Rs 33,562.85 crore, up 11.1 percent year on year, owing to the stronger performance of its financial services, cellulosic staple fiber, and specialty chemicals businesses.
Grasim Industries Q2 Results
Consolidated – Revenue increased 11% from Rs 30,220.7 crore to Rs 33,562.9 crore. Compared to Rs 2,024.1 crore, net profit decreased 46% to Rs 1,100.2 crore. Compared to Rs 6,052.7 crore, EBITDA fell 1% to Rs 6,017.1 crore. 17.9% margin as opposed to 20%
Standalone – Revenue increased by 18%, from Rs 6,442 crore to Rs 7,623.3 crore (estimate: Rs 7,489 crore). Compared to Rs 794.7 crore (estimated at Rs 859 crore), net profit decreased 9% to Rs 720.9 crore. Compared to Rs 593.6 crore (estimate: Rs 428 crore), Ebitda fell 45% to Rs 325.2 crore. 4.3% margin as opposed to 9.2% (estimated at 5.7%).
Grasim Industries Share Price Performance
On November 14, 2024, Grasim Industries finished at Rs 2,523.95, up 0.84% during the day. The stock fluctuated between Rs 2,490.05 and Rs 2,539.00 during the day. With a 52-week high of Rs 2,877.75 and a low of Rs 1,932.67, the company has outperformed the S&P BSE SENSEX with a robust year-to-date (YTD) performance of 19.16%. Grasim has produced a return of 31.88% over the course of a year. Despite recent difficulties in its financial performance, this has shown strong gains.
About Grasim Industries
Grasim Industries Limited is an essential component of the $60 billion Aditya Birla Group. Established as a textile business in India in 1947, Grasim Industries has grown over the years to become a significant player in the worldwide viscose staple fiber (VSF) market. In India, it has also made a name for itself as a major manufacturer of fabrics, linen yarn, advanced materials, and chlor-alkali. The corporation has entered the paint industry as part of its portfolio expansion, responding to contemporary markets and demands. It has also created “Birla Pivot,” an online business-to-business marketplace specializing in building supplies. Its reach and range of services will be improved by this growth.
