Grasim Industries Witnesses Growth In First Quarter Sales

Sales figures for the first quarter (Q1) at Grasim Industries went up by a handsome 182% to touch Rs. 3,763 crore as compared to Rs. 1,336 crore in the same period in the earlier financial year. The company posted net losses of Rs. 283 crore in the first quarter of FY2020-2021 and this surged to Rs. 482 crore in profits for the quarter reported, ending on 30th June, 2021. The EBITDA of the company went up considerably to stand at Rs. 805 crore. The company stated that the impact on overall demand for textiles owing to the coronavirus second wave was not as devastating as compared to the very first wave. India implemented stringent limitations for business activities for a major part of the first quarter of FY2021-22 and this affected textile product sales, leading to a major inventory accumulation throughout the entire value chain. 

VSF (Viscose Staple Fibre) prices came to RMB 12,871 in June, 2021 (China) and remains stable at the present level as per Grasim Industries, the parent entity of Grasim Premium Fabrics Private Ltd or GPFPL. Sales of the viscose division were affected with total business surpassing Rs. 2,103 crore. However, sales figures went up for the chemicals segment with sales figures touching Rs. 1,436 crore. Demand was higher for advanced materials throughout India and also global markets. Demand majorly came from the automotive and wind categories as per reports. 

Grasim Industries has also integrated its JV entity named Birla Advanced Knits on 14th July, 2021, for implementing the knit manufacturing division as a partnership with CTIL or Century Textiles and Industries Limited. The two entities will have 50% each in the JV Company and it will produce man-made fibre knit fabrics. Both companies will have rights for nominating three directors each on the JV Company’s board. Grasim Industries is one of India’s and the world’s biggest producers of Chlor-alkali, viscose staple fibre, insulators and linen and has subsidiaries like Aditya Birla Capital and UltraTech Cement, making it the country’s biggest producer of cement and a highly diversified player in financial services. 

Comments

Post a Comment

Popular posts from this blog

The Plethora of Opportunities with Hotel Management Course

Image
Hotel management is considered to be a day to day kind of a business based on the needs and activities of the customers. However, to be a part of the industry you can well get into the realm of hospitality education for a promising and prosperous career. You have fastest growth in the field with perfect job training and the kind of career development options which are real reasons why most people want a placement here. With the attempt to handle Hotel Management Course you can be a responsible hotel manager to look after the day to day aspects of the property. As a hotel manager you can well handle the front house departments like concierge services and reception to things like maintenance, house-keeping and catering. As a manager of the hotel you also have to tackle behind the scene responsibilities like hiring of the staffs, managing the budgets, dealing with public relations and setting the sales target. To be the holder of the post you need to have the best hospitality mark and you
Read more

Best Food Distributors in Oman for Your Perusal

Image
Looking for cutting-edge and pioneering food distributors in Oman? Al Maya Group is the answer to all your problems or questions. The Group specializes in being one of the top food distribution companies in the United Arab Emirates (UAE) throughout both food and non-food categories. The Group has its subsidiary entity named Al Maya Distribution and also Al Maya Trading which help it conduct its logistics and distribution businesses in the B2B (business to business) segment. It has more than 1 million sq. ft. of distribution and warehousing space which helps clients spread throughout the world including the UAE, Oman, Jordan and several other countries in the Middle East. Food Distributors in Oman As one of the leading food distributors in Oman , Al Maya Group has more than 100 vehicles for transportation and logistics along with a solid distribution setup with its very own cutting-edge warehouse management software (WMS) and other technological tools. Everything is executed to perfect
Read more

Specific Requirements For Obtaining PMP Certification Vancouver

Image
PMP Certification Vancouver | Image Resource : cdn.educba.com Project Management Professional or in short, PMP is a vocational course for people who want to hone their talents and experience as a professional project manager. All industries need efficient project managers for fulfilling their various important projects and leading their teams. Hence, PMP is a worthy certification course that is considered with high regard all over the world. PMP certified employees have a huge demand in the job market. So lots of ambitious people want to join the course of PMP certification Vancouver and they need to know about the eligibility of joining it. Eligibility criteria for joining PMP certification Vancouver According to the latest rules of the Project Management Institute, a person needs to hold a Bachelor’s degree in any educational stream for appearing in the PMP examination. Moreover, he/she needs to have at least 3 years of continuous experience in project management in a
Read more