Grasim Industries Q4 results | Net profit plunge 88% to Rs 94 crore, declares dividend of Rs 10

In the March quarter, total revenue stood at Rs 6,645.8 crore during the period under review, up 4.2 percent against Rs 6,376 crore in the corresponding period of the preceding fiscal. CNBC-TV18 Polls had predicted revenue of Rs 6,589 crore for the quarter under review.

At the operating level, EBITDA declined 43.4 percent to Rs 426 crore in the fourth quarter of this fiscal over Rs 752.6 crore in the corresponding period in the previous fiscal.

EBITDA margin stood at 6.4 percent in the reporting quarter as compared to 11.8 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The cement sales volume stood at 105.7 million tonne per annum (MTPA), up 12 percent year-on-year achieving a historical milestone of 100 MTPA, the first for any cement company in India.

Capacity utilisation for the quarter stood at 95 percent compared to 90 percent in Q4FY22. Consolidated revenue was at Rs 63,240 crore, up 20 percent year-on-year and EBITDA stood at Rs 11,123 crore for FY23.

During the year, the company commissioned 12.4 MTPA additional capacity of grey cement. It has further commissioned a 3 MTPA brownfield cement capacity since March’23, taking the total capacity in India to 130 MTPA.

The consolidated revenue for FY23 was up 23 percent year-on-year to Rs 27,416 crore. The company reported PAT (excluding fair value and stake sale gains) growth of 33 percent year-on-year to Rs 2,057 crore.

It had a strong customer base of 38 million as of March 31, 2023. The company opened 247 branches during the year taking the total branch count to 1,295 as of March 31, 2023.

The board of directors has recommended a dividend of Rs 10 per equity share for the year ended March 31, 2023. The total outflow on account of the dividend would be Rs 658 crore.