Indian textile manufacturer Grasim posts Q4 FY21 revenue of ₹24,399 cr

26 May '21

2 min read

Pic: Grasim Industries/ Linen Club

Grasim Industries, an Indian textile manufacturer, has reported 26 per cent revenue growth to ₹24,398.9 crore in its fourth quarter (Q4) FY21, ended on March 31, 2021, compared to revenue of ₹19,349.5 crore in the corresponding quarter of previous fiscal. The company’s net profit for the quarter jumped to ₹2,616.6 crore (Q4 FY20: ₹2,309.4 crore).

EBITDA for Q4 FY21 grew 62 per cent to ₹5,142 crore (₹3,180 crore), while total expenses were ₹20,887.1 crore (₹18,053.4 crore).

According to the company, revenue of its Viscose segment which includes pulp, viscose staple fibre and filament yarn rose to ₹2,583.4 crore (₹2,101.8 crore). Whereas chemical segment’s revenue was ₹1,472.2 crore (₹1,290.1 crore) in the reported period.

“The global textile fibre demand witnessed a sharp recovery in H2FY21 led by a spurt in the consumer demand and restocking of the pipeline. The growing consumer preference for comfortable, casual & value for money clothing has spurred demand for cellulosic fibre and VSF has been a key beneficiary of this shift,” the company stated in a press release.

“The VSF prices in China surged steeply in Q4 FY21 to attain a multiyear high. China VSF prices rose from 12,800 RMB in January 2021 to 15,800 RMB in March 2021 driven by strong consumer demand, restocking, and rise in cotton prices during the last 12 months. China’s VSF inventory at plants declined significantly from 45 days (April 2020) to 13 days (March 2021),” the company added.

Fibre2Fashion News Desk (JL)

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