Grasim Industries share rises for second consecutive session post Q4 earnings

Grasim Industries share rose for the second consecutive session after the Aditya Birla Group firm reported its Q4 earnings. The stock touched an intraday high of Rs 1,432 rising 4.2% on BSE. The share opened higher at Rs 1,390 on BSE today.

Grasim Industries share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock has gained 164% in one year and risen 52% since the beginning of this year Market cap of the firm rose to Rs 92,405 crore on BSE.

The stock has gained 2.87% in the last 2 days.

Total 1.80 lakh shares changed hands amounting to turnover of Rs 25.46 crore. The stock hit 52 week high of Rs 1474 on May 10, 2021 and 52 week low of Rs 528.15 on May 26, 2020.

Grasim Industries reported a 13.3 per cent rise in its consolidated net profit to Rs 2,616.64 crore in Q4 against net profit of Rs 2,309.41 crore during the January-March quarter of the previous financial year. Revenue from operations jumped 26.1 per cent to Rs 24,398.92 crore compared with Rs 19,349.54 crore in the year-ago period.

There was a "strong operational and financial performance by all the businesses in Q4FY21", said Grasim Industries in a post-earning statement.

However, it also added, "While the signs of economic recovery picking up momentum were visible during the fourth quarter of 2020-21, the impact of the second wave of COVID-19 on the economic activity needs to be assessed." Total expenses in Q4 stood at Rs 20,887.16 crore, up 15.7 per cent as against Rs 18,053.40 crore a year ago. Revenue of Grasim Industries from the viscose-pulp, viscose staple fibre and filament yarn segment jumped 22.91 per cent to Rs 2,583.40 crore in the fourth quarter of 2020-21 as against Rs 2,101.82 crore a year ago.

"The net revenue for the viscose segment stood at Rs 2,583 crore and Ebitda at Rs 625 crore, driven by higher sales volumes, better product mix, significant cost savings and improved realisation. During the quarter, the pulp prices and input costs have, however, started firming up in line with commodities," it said. EBITDA stands for earnings before interest, tax, depreciation and amortisation.