Grasim Industries of India welcomes income rise

India-based cement, textiles and chemicals firm Grasim Industries (Aditya Birla Group) saw its year-on-year income rise 12.72% to INR 19.09 trillion (US$257.9bn) in the 1 April to 30 June 2019 period. The company achieved a consolidated net profit of INR 17.86bn ($249.43mn) , up by 27.86%. UltraTech, Grasim Industries’ cement subsidiary, contributed INR 10.18tn ($143.15bn) in revenues, up by 14.35%. A Scheme of Arrangement amongst Century Textiles and Industries Limited (Century), UltraTech and their
August 16, 2019 Read time: 2 mins

India-based cement, textiles and chemicals firm Grasim Industries (Aditya Birla Group) saw its year-on-year income rise 12.72% to INR 19.09 trillion (US$257.9bn) in the 1 April to 30 June 2019 period.

The company achieved a consolidated net profit of INR 17.86bn ($249.43mn) , up by 27.86%. UltraTech, Grasim Industries’ cement subsidiary, contributed INR 10.18tn ($143.15bn) in revenues, up by 14.35%.

A Scheme of Arrangement amongst Century Textiles and Industries Limited (Century), UltraTech and their respective shareholders and creditors has been approved by the National Company Law Tribunal and likely to become effective in Q2 financial year 2020/21 upon receipt of remaining regulatory approvals.

Post completion of this acquisition and with the on-going capacity expansions, UltraTech’s cement manufacturing capacity will stand at 117.35 million tonnes per year, inclusive of overseas operations.

A Grasim Industries’ statement accompanying the company’s trading results said that cement demand growth is expected to be in line with GDP growth. “The key long-term demand drivers are the (Indian) government’s pro-growth stance and thrust on infrastructure development, increased plan outlay for social housing program in phase -2 and pick up in rural/urban housing demand with reduction in the interest rates,” the statement summarised.

Related Content

  • Deutz announces strong results with interim management statement
    May 12, 2017
    German engine maker Deutz reports a strong performance with its interim management statement for the first quarter of 2017 today. New orders rose significantly to reach €403.2 million, a 23.2% increase over the same period in the first three months of last year when orders hit €327.3 million. The figures also showed a 23.6% growth over the figures for the previous quarter when new orders reached €326.1 million. The firm sold 37,153 engines, an increase in unit sales of 15.7% over the same period for 2016 wh
    Read More
  • Hexagon buys SCCS, a supplier of Leica Geosystems in the UK
    January 13, 2016
    Hexagon has acquired Paul MacArthur Limited, SCCS – a UK supplier of surveying equipment to the engineering and infrastructure market and a Leica Geosystems distributor for over 20 years. SCCS, based in Cambridge, England, provides surveying solutions across the country, offering customers rent, purchase and service options in the road, rail and construction projects. “As the UK continues to fund major infrastructure projects with more stringent processes related to Building Information Modelling (BIM
    Read More
  • Rural Roads for Development: a chat with Dr Michael Burrow
    October 8, 2019
    For the last seven years the University of Birmingham has been organising – together with IRF (Geneva) the Rural Roads for Development course in Birmingham. The week-long course is very much a hands-on course delivered by experts from around the world on a topic of relevance to the sustainable provision of rural roads. Ahead of this year course edition which will be hosted on 9-13 September, Dr Michael Burrow from Birmingham University answered key questions about rural transport. Q: How can improved rur
    Read More
  • IAM says more action needed to cut UK road casualty numbers
    November 1, 2012
    IAM (Institute of Advanced Motorists) director Neil Greig said “much more” needed to be done to sustain an encouraging drop in the latest published quarterly road casualty statistics for the UK. The latest Department for Transport figures revealed 400 people were killed in road accidents in Britain between April-June 2012 – down 18% than the 487 killed over the same period of 2011. The total number of casualties was 47,880 between April-June 2012, a fall of 7% on the 51,580 in Q2 2011.
    Read More

Highlighted Content