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Grasim VSF Biz records positive performance for Q3
22
Jan '08
Grasim Industries Limited has posted good results for the 3rd quarter ended 31st December, 2007. The improved performance was propelled by its core businesses, viz, Cement and Viscose Staple Fibre (VSF). The Company's Chemical and Sponge Iron businesses too aided the performance.

Revenues increased by 19% y-o-y to Rs.4,358 crores (Rs.3,668 crores). Gross Profit rose by 26% at Rs.1,420 crores (Rs.1,128 crores). Net Profit was higher by 29% at Rs.722 crores (Rs.559 crores).

Viscose Staple Fibre (VSF) Business:
VSF business recorded a positive performance during the quarter. The Company plans to expand its capacity by 94,875 tons, through capacity additions of 63,875 tons at Kharach (Gujarat) and 31,000 tons at Harihar (Karnataka), at an estimated outlay of Rs.606 crores. Upon completion, the Company's VSF capacity will be 364,975 tons.

Alongside, a greenfield 88,000 tons plant is being set up at Vilayat (Gujarat) at an estimated capital cost of Rs.840 crores. The plant is expected to be commissioned in about 2-3 years' time. The Company plans to foray into the consumer product segment with a test launch of non-woven products.

Chemical Plant:
The Chemical plant's performance improved during the quarter. Production of caustic soda was higher by 68% at 50,452 tons. During the corresponding quarter, production was lower owing to the shut down of a captive power plant. Sales volumes rose by 70% at 49,978 tons.

Outlook:
Grasim's outlook continues to be positive. The major expansion of capacity in cement and fibre businesses, relentless efforts towards cost optimization and improved productivity, coupled with effective financial management, portend well for the Company in the years to come.

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Grasim Industries Limited

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