Grasim Industries

Grasim net profit up 15%

Grasim net profit up 15%

On Friday, Grasim Industries announced its fourth quarter results. The net profit was up by 15 per cent.

On the consolidated basis, the profit was at Rs. 654 crore against Rs. 569 crore for the last year.

Net revenue on a consolidated basis was up by 11 per cent and was at Rs. 5,475 crore. This is higher than the Rs. 4,942 crore figure that the company achieved last year.

Electrotherm inks JV pact with Grasim Industries

Ahmedabad-based Electrotherm India Ltd has signed a Joint Venture Agreement with Grasim Industries Ltd, for captive mining of coal block of Bhaskarpara in the state of Chhattisgarh as per the letter of allocation of coal block issued by Government of India, Ministry of Coal.

Under the arrangement, the Joint Venture Company will carry out mining operations and allocate the production from mine to Electrotherm (India) Ltd and Grasim Industries Ltd in the proportion of 52.63% and 47.37% respectively.

Grasim sells its sponge iron business to Welspun Power for Rs 1030 crore

Grasim Industries, a flagship company of Aditya Birla Group has informed that it has sold its sponge iron business christened Vikram Ispat to Gujarat-based Welspun Power and Steel for Rs 1,030 crore.

Vikram Ispat, with a capacity of 9,00,000 tpa, is the largest merchant producer of sponge iron in India. The company’s plant situated in the Raigad district of Maharashtra has generated a sales turnover of Rs 950 crore in the financial year ended March 31, 2008.

Grasim Raises Its Annual VSF Capacity To 333,975 MT

Grasim Industries, a flagship company of the Aditya Birla group, has made announcement about the commissioning of line three at Birla Cellulosic Viscose Staple Fibre (VSP) facility at Kharach in Gujarat, which will have VSF capacity of 31,940 MT per annum.

With the above capacity enhancement, the total VSF capacity at company`s Birla Cellulosic unit at Kharach, is 127,750 MT per annum. The company`s overall VSF capacity post above expansion is 333,975 MT per annum.