Grasim Industries Q4 results: Net profit rises 13% YoY to Rs 2,617 cr; firm to pay dividend of Rs 9 per share

NEW DELHI: on Monday said its consolidated net profit for the March quarter rose 13.30 per cent to Rs 2,616.64 crore from Rs 2,309.41 crore in the same quarter last year.

The total revenue from operations jumped to Rs 24,398.92 crore from Rs 19,349.54 crore in the corresponding quarter last year, registering a gain of 26 per cent. Ebitda for the quarter surged 62% YoY to Rs 5,142 crore.

On a standalone basis, revenue of the company stood at Rs 4,394 crore, up 18 per cent YoY and Ebitda advanced 121 per cent to Rs 880 crore.

The board of Directors of Grasim has recommended a dividend of Rs 5 per equity share and a special dividend of Rs 4 per share for the year ended March 2021, taking the total dividend to Rs 9 per share. The total outflow on account of the dividend would be Rs 592 crore.

“While the signs of economic recovery picking up momentum was visible during the Q4FY21, the impact of the second wave of Covid-19 on economic activity needs to be assessed,” the company said.

Grasim said for its viscose business, the buoyancy in the domestic demand was reflected in 9% YoY growth in the domestic sales, while its chemical business, especially the advanced material (epoxy) 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,” the firm said.

The company added that its paint business is making brisk progress in line with the plans. The company is in the process of hiring senior professionals and specialists for the business. It is also actively engaged in shortlisting/acquiring land for plant locations and is progressing with the engineering planning for the project.

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