Share price of a leading global producer of Cellulosic Fibres, Diversified Chemicals, Fashion Yarn and Fabrics producer in India, moved up by 0.74 percent to hit an intraday high at Rs. 2,459 on Wednesday, after one of the key promoters increased its stake from 19.1 percent to 23.18 percent in the company.
With a market capitalisation of Rs. 1.66 lakh crore, at 12:12 p.m., the shares of Grasim Industries Limited were trading in the green at Rs. 2,454.35 on BSE, up by 0.6 percent.
According to the latest regulatory filings with the stock exchanges, Birla Group Holdings Private Limited (BGHPL), a Promoter of Grasim Industries Limited, increased its shareholding in the company.
BGHPL increased its stake from 12.99 crore equity shares (equivalent to 19.1 percent) to 15.77 crore equity shares (equivalent to 23.18 percent) in Grasim Industries.
The increase in stake follows the amalgamation of Umang Commercial Company Private Limited and certain other entities with BGHPL, as sanctioned by the National Company Law Tribunal (NCLT).
NCLT has sanctioned the amalgamation of Birla Family Investments Private Limited, Birla TMT Holdings Private Limited, Umang Commercial Company Private Limited, Aditya Birla Online Fashion Private Limited, Infocyber India Private Limited, and Sunbeam Trading and Investments Private Limited with BGHPL.
In terms of financials, the company’s revenue from operations grew by nearly 12.7 percent YoY from Rs. 33,462 crore in Q4 FY22-23 to Rs. 37,727 crore in Q4 FY23-24, accompanied by an increase in net profit of 15.5 percent YoY, from Rs. 2,355.7 crore in Q4 FY22-23 to Rs. 2,721.81 crore in Q4 FY23-24.
Grasim Industries reported the highest-ever consolidated EBITDA of Rs. 20,837 crore in FY23-24, increasing by 18 percent YoY.
The company’s consolidated capex for FY23-24 stood at Rs. 20,199 crore of which growth capex stood at Rs. 16,817 crore, 83 percent of the total capex. The growth capex was largely focused on capacity expansion in the Building Materials businesses.
Incorporated in 1947, Grasim Industries Limited, a flagship company of the Aditya Birla Group, is a leading global producer of Cellulosic Fibres, Diversified Chemicals, Fashion Yarn and Fabrics producer in India.
Through its subsidiaries, UltraTech Cement, Aditya Birla Capital and Aditya Birla Renewables, the company is also India’s prominent cement producer, leading diversified financial services player and clean energy solutions player.
Written by Shivani Singh
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