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Grasim Industries reports Q1 FY21 revenue of ₹13,621 cr
18 Aug 20 1 min read
Grasim Industries, a textiles manufacturer in India, has reported revenue decline to ₹13,621 crore in its first quarter (Q1) fiscal 2021 ended on June 30, 2020 compared to revenue of ₹20,103 in same period last year. EBITDA (earnings before interest, taxes, depreciation, and amortisation) during the quarter fell to ₹2,613 crore (Q1 FY20: ₹4,461 crore).
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Revenue for the viscose segment (including VFY) stood at ₹558 crore with a drop in the sales volume for both VSF and VFY. The performance of the viscose business was subdued for the months of April and May 2020 due to lockdown but witnessed steady improvement in June and thereafter.
VSF business during the quarter collaborated with other global viscose players in formulating the ZDHC man-made cellulosic (MMCF) guidelines covering responsible production and wastewater/air emission standards. Grasim is committed to implement the ZDHC MMCF standards at all the fibre manufacturing units.
Whereas, revenue for chemical business stood at ₹704 crore during Q1 FY21. The chlorine derivatives products demand remained strong driven by demand from disinfectant and hygiene products. UltraTech’s revenue was ₹7,634 crore. The ABCL (Aditya Birla Capital Limited) segment reported rise in revenue of approximately 11 per cent year-over-year to ₹4,035 crore.
Fibre2Fashion News Desk (JL)
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