grasim industries share price: Grasim promoter Birla Group raises stake in the company from 4.09% to 23.18%.

Birla Group Holdings Private Limited (BGHPL), the promoter of Grasim Industries, increased its stake in the company by 4.09 per cent, according to an exchange filing by the company on Tuesday. BGHPL’s stake in the company has increased from Rs 19.10 per cent at the end of the March quarter to 23.18 per cent now.

The purchase of additional 4.09 per cent stake in BGHPL was effected under the merger plan. Umang Commercial Company Private Limited holds 2,67,46,262 par value shares of Grasim Industries (Rs 2 each or 3.9% stake) and 10,63,204 partially paid-up shares of Grasim Industries (0.16% stake) of Rs 0.50. It was transferred to BGHPL on May 24, 2024, according to company filings.

There is no change in the total shareholding ratio of our promoters/promoter groups and remains the same at 43.06%. Shares of Grasim Industries on Tuesday closed at Rs 2,435.10 on the NSE, up Rs 44.45 or 1.86 per cent.

Grasim, part of the Aditya Birla Group, on Wednesday reported a 39% rise in consolidated net profit, excluding exceptional items, at Rs 1,908 crore for the quarter ended March 2024. The same amount was Rs 1,369 crore in the last year’s quarter.

Operating revenue rose 13 per cent year-on-year to Rs 37,727 crore in the reporting period, compared to Rs 4,873 crore in the corresponding period last year. Earnings before interest, taxes, depreciation and amortization (EBITDA) for the March quarter stood at Rs 6,196 crore, up 27% year-on-year. CSF prices improved slightly in China during the quarter, reflecting an improving demand scenario and stable utilization rates (85%). However, export prices weakened due to global overcapacity and falling raw material prices. Material prices. During the quarter, demand in India was impacted by MSME policy revisions, which resulted in lower inventory build-up in the textile value chain. CFY’s business remains impacted by increased cheap imports from China in an already weak demand market.

Grasim CSF trading volume increased 8% year-on-year to 208KT. However, due to poor performance, quarterly revenue stagnated at Rs 3,762 crore. Segment EBITDA grew 15% sequentially to Rs 462 crore, primarily driven by lower input costs.

The Chemical Business Division achieved its highest ever caustic soda sales volume of 308KT in the 4th quarter of FY24, an 8% increase over the same period last year. However, revenue declined 13% year-on-year to Rs 2,083 billion as ECU implementations plunged 28% year-on-year.

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