The Hindu Business Line : Grasim Q4 net rises 81%

Mumbai April 25 Grasim Industries said its standalone fourth quarter net profit rose 81 per cent, driven by higher capacity utilisation, increased realisation and operational efficiencies.

Net profit for the quarter was reported at Rs 474 crore, up from Rs 263 crore in same year-ago period.

Net revenues, at Rs 2,494 crore (Rs 1,830 crore) rose 36 per cent.

EBITDA rose 66 per cent, to Rs 772 crore from Rs 465 crore.

For the fiscal ended March 31, the company's net profit grew 78 per cent, being recorded at Rs 1,536 crore (Rs 863 crore).

Net revenues for the year rose 29 per cent, to Rs 8,676 crore, from Rs 6,703 crore a year ago.

The company's cement business which accounts for around 70 per cent of its revenues reported a capacity utilisation of 110 per cent and a volume growth of 4 per cent, with sales at 14.52 million tonnes.

"Realisation grew 40 per cent, and, coupled with an increase in the blended cement ratio, drove up operating profits," said Mr D.D. Rathi, Chief Financial Officer, Grasim Industries.

(On a sequential basis, however, realisations from cement were flat, said a statement from the company).

Some of the gains from increased realisation were neutralised to a large extent by the steep rise in fuel and freight costs, said Mr Rathi.

Viscose staple

The viscose staple fibre business which contributes to 21 per cent of the company's business, reported a capacity utilisation of 93 per cent (90 per cent last year) during the year and a sales volumes increase of 3 per cent. Realisations were up 16 per cent.

On a consolidated basis Grasim's net profit for the fiscal was 89 per cent higher, at Rs 1,968 crore (Rs 1,041 crore). Net revenues rose 38 per cent, to Rs 14,167 crore (Rs 10,275 crore). The company has earmarked Rs 2,345 crore over the next two years as capital expenditure for modernisation and expansion of its cement business and Rs 712 crore for augmenting its VSF business.

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