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    Grasim Industries Q1 results | Profit rises 68% to Rs 809 crore YoY

    Grasim Industries Q1 results | Profit rises 68% to Rs 809 crore YoY

    Grasim Industries Q1 results | Profit rises 68% to Rs 809 crore YoY
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    By CNBCTV18.com  IST (Published)

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    Grasim Q1 result: Grasim Industries' revenue rose nearly 93 percent YoY to Rs 7,253 crore against Rs 3,763 crore, while EBITDA improved 78.4 percent to Rs 1,320 crore in the first quarter from Rs 740 crore in April-June 2021. Margin came in at 18.2 percent against 19.7 percent on a YoY basis.

    Aditya Birla Group major Grasim Industries standalone profit in the April-June quarter jumped nearly 68 percent to Rs 808.6 crore year-on-year (YoY). Grasim had reported a standalone profit of Rs 481.6 crore in the year-ago period.
    Grasim revenue rose nearly 93 percent YoY to Rs 7,253 crore against Rs 3,763 crore, while EBITDA improved 78.4 percent to Rs 1,320 crore in the first quarter from Rs 740 crore in April-June 2021. Margin came in at 18.2 percent against 19.7 percent on a YoY basis.
    Grasim said its paints business is focused on project execution and is on track to achieving the plant commissioning timelines.
    "The business has obtained land possession at all its six sites. The civil construction has commenced at four of its sites- Panipat, Ludhiana, Cheyyar and Chamarajanagar. The project work at other sites will start soon after all the statutory approvals are received," Grasim said in a BSE filing.
    The total capex budgeted to be spent during FY23 stood at Rs 6,720 crore, including Rs 3,542 crore for the paints business.
    On its foray into B2B e-commerce platform for the Building Materials segment with an investment of around Rs 2,000 Crore over the next 5 years, Grasim said, "The platform will primarily focus on MSMEs in the Building Materials segment with the potential to further extend to other relevant categories. The key value proposition would be an integrated procurement solution, including on-time delivery and a superior product range at competitive pricing."
    Among subsidiaries, UltraTech Cement's consolidated revenue came in at Rs 15,164 crore, up 29 percent YoY in FY22. UltraTech Cement EBITDA was at Rs 3,204 crore and sales volume stood at around 25 MTPA.
    UltraTech’s capacity expansion program is on track and after completion of the ongoing expansion, the total grey cement capacity in India will be 131.25MTPA (FY23), and in the subsequent phase of expansion the India capacity will increase to 153.85MTPA (FY25), it said in the exchange filing.
    Shares of Grasim Industries closed at Rs 1,620.80, up 1.31 percent on. The stock touched an intra-day high of Rs 1653.75, rising 3.37 percent and is trading higher than its five-day, 20-day, 50-day, 100-day and 200-day moving averages. In the last one month, the stock has surged more than 17 percent.
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