Grasim Invests Record Rs 20,000 Crore in FY24

21 Aug 2024 , 11:19 AM

In the fiscal year 2023–24, Grasim Industries spent around ₹20,000 crore on capital projects, the highest amount ever, according to chairman Kumar Mangalam Birla.

During the business’s annual general meeting on Tuesday, he informed shareholders that the company had invested nearly ₹50,000 crore in capital expenditures over the last five years. According to him, growth initiatives accounted for more than three-fourths of this.

Given the surge in India’s housing and infrastructure sectors, Birla is hopeful about the company’s building materials segment experiencing significant growth over the coming years. The areas of this increase are expected to be cement and decorative paints.

“With our cement business, UltraTech, our decorative paints business, Birla Opus, and our B2B ecommerce platform for building materials, Birla Pivot, we are well-equipped to lead the charge in meeting the rising needs of India’s construction sector,” he stated.

Grasim’s subsidiary UltraTech has achieved a production capacity of over 150 million tonnes annually, making it the world’s third-largest cement maker outside of China. Birla reaffirmed that the company is on pace to reach 200 million tonnes of capacity by 2026–2027. He added that within three years of starting full-scale operations, the paints company, which was introduced earlier this year, will generate ₹10,000 crore in sales.

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