Net sales

Grasim Industries Q4 2022 results: PAT up 55% YoY, net sales up 18%; the company recommends a dividend of Rs 5

Grasim Industries Fourth Quarter 2022 Results: Aditya Birla Group company, Grasim Industries Limited on Tuesday announced a 55.56% increase in its consolidated net profit to Rs 4,070.46 crore for the fourth quarter ended March 31, 2022 The company had posted a net profit of Rs 2,616.64 crore in the January to March quarter of 2020-21, Grasim Industries said in a regulatory filing.

Grasim Industries’ operating revenue increased by 18.07% to Rs 28,811.39 crore in the quarter under review, compared to Rs 24,401.45 crore in the corresponding period of the previous financial year.

Grasim’s board at a meeting on Tuesday also recommended a dividend of Rs5 per capital share for the year to 31 March 2022 and a special dividend of Rs5 per capital share, bringing the dividend total at Rs 10 per share of capital, says the exchange file.

Grasim Industries shares settled at Rs 1,402.65 on BSE on Tuesday, down 3.72% from the previous closing price on Monday.

Highlights:

– Grasim Industries’ total expenditure was Rs 25,786.54 crore, up 23.45% in Q4/FY 2021-22, from Rs 20,887.16 crore a year ago.

– In the fourth quarter/fiscal year 2021-22, Grasim Industries revenue from Viscose Pulp, Viscose Staple Fiber and Filament Yarn segment increased by 45.79% to Rs 3,766.49 Crore , up from Rs 2,583.40 crore a year ago.

– Revenues of its subsidiary and leading cement maker UltraTech Cement increased by 9.45% to Rs 15,767.28 crore, from Rs 14,405.61 crore in Q4/FY2020-21.

– Its Chemicals segment revenue grew by 68.88% to Rs 2,486.52 crore from Rs 1,472.28 crore in Q4/FY 2020-21.

– Revenue from the financial services segment – Aditya Birla Capital Ltd (ABCL) – increased by 19.01% to Rs 6,622.35 crore from Rs 5,564.30 crore a year ago.

– For the year ended March 2022, the consolidated net profit of Grasim Industries increased by 60.39% to Rs 11,206.29 crore. It had reported a net profit of Rs 6,986.70 crore in the financial year ending March 2021.
Its sales were Rs 95,701.13 crore in 2021-22. This is 25.25% more than Rs 76,404.29 crore during the prior year period.

“The Viscose Filaments (VFY) business recorded volume growth of 9% year-on-year. Higher inputs and fixed costs in Q4FY22 impacted financial performance,” Grasim Industries said in a statement.

The recently commissioned 600 TPD brownfield plant in Vilayat, Gujarat contributed approximately 32,000 tonnes of sales volume during the quarter.

Growing global demand for textile products in the United States and Europe has also led to a positive demand environment for viscose staple fiber (VSF), according to the release.

“Rising global caustic soda prices were driven by supply chain disruptions due to COVID-related restrictions and the ongoing conflict between Russia and Ukraine. Domestic caustic soda prices increased in line with the world caustic soda price and improving demand. It said.

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“ABCL remains focused on maximizing the value of the 31 million active customer base, while continuing to drive customer acquisition at scale,” Grasim said.

“Gross disbursements for NBFC activities amounted to Rs 9,891 Crore in the fourth quarter of FY22, up 51% YoY and 49% QoQ, with focus on growing its portfolio of retail, SME and HNI segments,” he said.
While revenue from other segments increased by 28.84% to Rs 705.17 crore from Rs 547.31 crore.

“The total dividend outflow would be Rs 658 crore,” he said.

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