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

  • Volvo CE posts optimistic results
    February 7, 2014
    Volvo Construction Equipment is posting optimistic financial results that show an increase in deliveries in the fourth quarter of 2013. The firm reports deliveries climbing by 9% as global markets show sign of improvement. A slowly recovering global market helped Volvo Construction Equipment round off 2013 with sales up 3% in the fourth quarter and improved market share, especially in compact equipment. When adjusted for currency movements net sales increased further – to 6%. These improved figures are due
    Read More
  • A game changer for the Balkans – road safety & innovation forum
    July 10, 2019
    IRF Expands Operations in South East Europe Close to 300 delegates, including representatives from key Bulgarian road agencies, took part in the 2nd Road Safety & Innovation Forum on May 15th at the joint invitation of the International Road Federation, EuroRAP and the Bulgarian Branch Association for Road Safety. “We had designed this event with the idea that countries such as Bulgaria, currently lagging behind in meeting their traffic injury reduction targets, could seize technological enablers that
    Read More
  • Serbia’s pan-European Corridor X is in the slow lane
    October 23, 2017
    It’s been slow progress on Serbia’s Corridor X project. Gordon Feller reports. Back in the early 2000’s, the European Union undertook an ambitious programme to link the main cities of its south-eastern region. This involved connecting five key seaports – the Greek cities of Patras, Igoumenitsa, Piraeus and Thessaloniki as well as Romania’s Black Sea city of Constanta. Initially the plan involved two motorways across Greece. The first was a new 780km route including a branch to Ormenio on Greece’s north-eas
    Read More
  • Wacker Neuson’s record-breaking quarter revenue
    May 10, 2012
    Wacker Neuson Group (WN) achieved its higher ever revenue quarter in the first three months of 2012. The €274million revenue recorded in Q1 2012 was a 29.3% rise on the €211.8million posted over the same period of 2011. “The compact equipment segment and the Americas region were our two strongest growth drivers, reporting revenue gains of 51% and 34% respectively relative to the previous year’s quarter,” said Cem Peksaglam, chief executive of WN. “Our expansion strategies are gaining traction. Despite gene
    Read More

Highlighted Content