Grasim Industries stock under pressure post Q4 earnings

Other capex includes Grasim’s plans to invest towards increasing its Advanced Materials (Epoxy) business capacity by ~125 KTPA through a brownfield expansion at the existing location of Vilayat, Gujarat.

May 25, 2021 10:05 IST India Infoline News Service

Grasim Industries
Shares of Grasim Industries is under pressure on the stock exchange. The company posted a net profit which rose by 13.52% to Rs1715.49cr in the quarter ended March 2021 as against Rs1511.18cr during the previous quarter ended March 2020.

The sales rose 26.10% to Rs2,4398.92cr in the quarter ended March 2021 as against Rs1,9349.54cr during the previous quarter ended March 2020.

The total capex spends for FY21 stood at Rs1,508cr. The capex plan for FY22 (excluding paints and fertiliser) is Rs2,604cr which includes the VSF expansion project at Vilayat with Line-1 scheduled to be commissioned in Q2FY22 and Line-2 in Q3FY22.

Other capex includes Grasim’s plans to invest towards increasing its Advanced Materials (Epoxy) business capacity by ~125 KTPA through a brown field expansion at the existing location of Vilayat, Gujarat. This will include standard & specialty epoxy products along with curing agents. Being an industry leader, Grasim will continue to play a proactive role in growing & supporting the demand growth.

The stock is currently trading at Rs1,377.15, up by Rs6.05 or 0.44% from its previous closing of Rs1,371.10 on the BSE.

The scrip opened at Rs1,380 and has touched a high and low of Rs1,398.95 and Rs1,372.35 respectively.

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