June 22, 2024
Financial Results

Grasim Industries Achieves Highest-Ever Revenue And EBITDA In FY24

Grasim Industries Ltd has reported its highest-ever consolidated revenue of Rs 1,30,978 crore for the financial year ending March 31, 2024, marking an 11% year-on-year increase. This achievement is attributed to the robust performance across its diversified business portfolio, particularly in building materials and financial services. The company’s consolidated EBITDA also reached a record high of Rs 20,837 crore, while consolidated PAT stood at Rs 6,163 crore, a 14% increase excluding exceptional items of Rs 538 crore.

Q4 FY24 Highlights
In the fourth quarter of FY24, Grasim Industries posted consolidated revenue of Rs 37,727 crore, reflecting a 13% growth year-on-year. The consolidated EBITDA for the quarter hit an all-time high of Rs 6,196 crore, a 27% increase from the previous year. Excluding exceptional items, the consolidated PAT rose by 39% to Rs 1,908 crore.

Segment Performance
Cellulosic fibres (CSF and CFY): Grasim’s CSF volumes increased by 8% YoY to 208 KT, although revenue remained flat at Rs 3,762 crore due to subdued market realizations. Segment EBITDA grew by 15% sequentially to Rs 462 crore, driven by lower input costs. Chemicals (chlor-alkali, chlorine derivatives and speciality chemicals): The chemicals business recorded its highest-ever caustic soda sales volume of 308 KT in Q4FY24, up 8% YoY. Despite this, revenue decreased by 13% YoY to Rs 2,083 crore due to a 28% drop in ECU realization.

Dividend
Grasim’s board of directors has recommended a dividend of Rs 10 per equity share for the year ended March 31, 2024, amounting to a total outflow of Rs 664 crore.

Sustainability Initiatives
Grasim remains committed to enhancing its sustainability efforts. In FY24, the share of renewable power in its standalone businesses rose to 11% from 8% in FY23. Additionally, recycled water consumption improved to 50% from 46% in FY23. The company’s ESG rating improved by 9.6 points, resulting in an upgrade from Sustainalytics, a global rating agency.

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