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

Grasim Industries Q4 results 2022: Aditya Birla Group firm Grasim Industries Limited on Tuesday reported a 55.56 per cent increase in its consolidated net profit at Rs 4,070.46 crore for the fourth quarter ended March 31, 2022

Grasim Industries Q4 results 2022: company had posted a net profit of Rs 2,616.64 crore during the January-March quarter of 2020-21, Grasim Industries said in a regulatory filing. Source: Reuters

Grasim Industries Q4 results 2022: Aditya Birla Group firm Grasim Industries Limited on Tuesday reported a 55.56 per cent increase in its consolidated net profit at 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 during the January-March quarter of 2020-21, Grasim Industries said in a regulatory filing.

Grasim Industries' revenue from operations was up 18.07 per cent at Rs 28,811.39 crore during the quarter under review, as against Rs 24,401.45 crore in the corresponding period of the previous fiscal.

The Board of Grasim in a meeting held on Tuesday also recommended a dividend of Rs 5 per equity share for the year ended March 31, 2022 and a special dividend of Rs 5 per equity share, taking the total dividend to Rs 10 per equity share, the exchange filing said.

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

Key highlights:

- Grasim Industries' total expenses were at Rs 25,786.54 crore, up 23.45 per cent in Q4/FY 2021-22, as against Rs 20,887.16 crore, a year ago.

- In Q4/FY2021-22 Grasim Industries' revenue from viscose-pulp, viscose staple fibre and filament yarn segment was up 45.79 per cent to Rs 3,766.49 crore, as against Rs 2,583.40 crore a year ago.

- Revenue from its subsidiary and the leading cement maker UltraTech Cement was up 9.45 per cent to Rs 15,767.28 crore, as against Rs 14,405.61 crore in Q4/FY2020-21.

- Its revenue from the chemicals segment was up 68.88 per cent at Rs 2,486.52 crore, as against Rs 1,472.28 crore of Q4/FY 2020-21.

- Revenue from the financial services segment -- Aditya Birla Capital Ltd (ABCL) -- was up 19.01 per cent to Rs 6,622.35 crore, as against Rs 5,564.30 crore a year ago.

- For the fiscal ended March 2022, Grasim Industries' consolidated net profit was up 60.39 per cent to Rs 11,206.29 crore. It had reported a net profit of Rs 6,986.70 crore in the financial year ended March 2021.
Its sales were at Rs 95,701.13 crore in 2021-22. This is 25.25 per cent higher than Rs 76,404.29 crore in the year-ago period.

"The Viscose Filament Yarn (VFY) business recorded a volume growth of 9 per cent YoY. Higher input and fixed cost in Q4FY22 impacted financial performance," Grasim Industries said in an earnings statement.

The recently commissioned 600 TPD brownfield plant at Vilayat, in Gujarat contributed around 32KT of sales volume during the quarter.

The growth in the global demand for textile products in the US and Europe also led to a positive demand environment for viscose staple fibre (VSF), the statement said.

"The rise in the global caustic soda prices was driven by the supply chain disruptions on account of COVID-led restrictions and the ongoing conflict between Russia and Ukraine. The domestic caustic soda prices increased in line with global caustic soda price and improved demand," it said.

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"ABCL remains focused on maximising the value of the active customer base of 31 million, whilst continuing to drive customer acquisition at scale," said Grasim.

"The gross disbursements for NBFC business stood at Rs 9,891 crore in Q4 FY22, up 51 per cent YoY and 49 per cent QoQ, with the focus on growing its portfolio of Retail, SME and HNI segment," it said.
While revenue from other segments was up 28.84 per cent to Rs 705.17 crore, as against Rs 547.31 crore.

"The total outflow on account of the dividend would be Rs 658 crore," it said.

Inputs from PTI

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