[ad_1]
Grasim Industries Limited, a flagship company of the Aditya Birla Group, has reported that its consolidated revenue for third quarter (Q3) of fiscal 2022 (FY22) was up 16 per cent at ₹24,402 crore, EBITDA stood at ₹4,107 crore and PAT at ₹1,746 crore was up 26 per cent, on a YoY basis. Its standalone revenue for Q3 FY22 jumped 56 per cent to ₹5,785 crore.
The growth in the global demand for textile products in the US and Europe led to a positive demand environment for VSF. Chinese fibre and yarn manufacturers witnessed a sharp uptick in the operating rates (OR) in January 2022 after a brief dip in Q3 FY22. The OR for VSF improved to a 12-month high of 83 per cent, and for yarn, it improved to 55 per cent in January 2022. The VSF prices averaged higher in Q3 FY22 compared to the previous quarter. Though towards the end of December 2021, the realisation started to trend downwards due to COVID concerns, the company said in a media release.
The strong operational performance of VSF has been induced by strong demand for textile products in India during Q3 FY22, despite the curbs imposed by various state governments. The domestic textile value chain has been operating close to its peak capacity, which is led by the demand uptick.
Grasim Industries Limited, a flagship company of the Aditya Birla Group, has reported that its consolidated revenue for third quarter (Q3) of fiscal 2022 (FY22) was up 16 per cent at ₹24,402 crore, EBITDA stood at ₹4,107 crore and PAT at ₹1,746 crore was up 26 per cent, on a YoY basis. Its standalone revenue for Q3 FY22 jumped 56 per cent to ₹5,785 crore.
The VSF sales volume for Q3 FY22 were further boosted by the commissioning of brownfield expansion (300 TPD) at Vilayat. The share of value-added products in the overall sales mix increased to 29 per cent. The VFY business reported strong operational and financial performance on a sequential basis driven by strong demand and improvement in realisation despite cost pressure.
The 300 TPD line of the VSF brownfield expansion (out of total 600 TPD) at Vilayat commissioned in November 2021 is operating at full capacity, the balance 300 TPD has also been successfully commissioned on 12th February, 2022.
The company also said that its VSF business has taken the target to achieve Net Zero Carbon emissions across all its operations by 2040. The company participated for the first time in CDP (Carbon Disclosure Project) in 2021 and has received a management band score B-. The VSF unit at Kharach has been bestowed with the CII-ITC Sustainability Award 2021 for Excellence in Environment Management.
Besides VSF, the consolidated revenue includes the company’s other verticals like its chemical business, paint business, cement subsidiary UltraTech Cement Limited and financial services subsidiary Aditya Birla Capital Limited (ABCL).
Fibre2Fashion News Desk (KD)
[ad_2]
Source link
