Grasim net profit up 13 pc in Q4 to Rs 2,617 crore
May 24, 2021
Mumbai (Maharashtra) [India], May 24 : Aditya Birla-led Grasim Industries on Monday posted a consolidated net profit of Rs 2,617 crore for the March quarter, up 13 per cent from Rs 2,309 crore in the same quarter of previous fiscal.
Total revenue from operations jumped to Rs 24,399 crore from Rs 19,350 crore, marking an increase of 26 per cent. Earnings before interest, tax, depreciation and amortisation (EBITDA) in Q4 FY21 jumped by 62 per cent to Rs 5,142 crore from Rs 3,180 crore in Q4 FY20.
The board of directors has recommended a dividend of Rs 5 per equity share and a special dividend of Rs 4 per share for FY21, taking the total dividend to Rs 9 per share. The total outflow on account of dividend will be Rs 592 crore.
"While the signs of economic recovery picking up momentum was visible during the Q4 FY21, the impact of second wave of Covid-19 on economic activity needs to be assessed," the company said.
For viscose business, the buoyancy in domestic demand was reflected in 9 per cent growth in Grasim's domestic sales.
Its chemical business sales volume growth was driven by demand across segments, especially from the wind and auto segment.
"The sector witnessed demand outstripping the supply due to raw material constraint, coupled with disruption at certain global manufacturers," said Grasim.
The company said its paint business is making brisk progress in line with the plans. Senior professionals and specialists are being hired for the business.
Grasim said the total capex spend stood at Rs 1,508 crore in FY21. The capex plan for FY22 excluding paints and fertiliser totals Rs 2,604 crore.
