Grasim reports 4Q and FY results

Grasim Industries Limited, part of the Aditya Birla Group, has announced its results for the fourth quarter of the financial year ending 31 March 2015. Net revenue for the quarter grew 5%, while PBIDT was static at Rs.1658 crore. For the full year, PBIDT was up 4%. Finance and depreciation costs are up 69% and 7%, respectively, on the commissioning/acquisition of new capacities. Net profit was down y/y at Rs.507 crore.

In all, Grasim completed expansion projects amounting to 2 million tpy of clinker and 1.4 million tpy of cement, as well as the acquisition of a 4.8 million tpy cement plant in Gujarat, with acquisitions of two cement plants and a grinding unit also underway. In addition, the group completed a captive power/waste heat recovery system with 72 MW capacity for its cement business.

In the cement business, UltraTech’s net revenue was up 4% y/y at Rs.6597 crore, with PBIDT up 3% at Rs.1435 crore. Profit after tax was lower due to the aforementioned higher finance cost and tax expenses. Higher limestone costs offset the benefits of lower coal prices. The combined cement and clinker sales volume was 12.78 million t (12.98 million t).

Going forward, the group expects cement demand to improve, driven by infrastructure projects and improved demand for housing. 

Adapted from press release by Katherine Guenioui

Read the article online at: https://www.worldcement.com/asia-pacific-rim/05052015/grasim-reports-4q-and-fy-results-786/