Grasim Industries Limited, a flagship company of the Aditya Birla Group, has come up with enthusiastic financial results.
The company announced the highest-ever revenue of Rs. 1,17,627 crore for FY ‘23 which is up by 23 per cent on Y-o-Y basis. The company also noticed the highest-ever sales for viscose volume at 711KT (kiloton) for FY ’23, which is 18 per cent up on Y-o-Y basis.
The company is into the business of Viscose, chemical, cement and paint.
The company’s Viscose Staple Fibre (VSF) sales volume of increased by 25 per cent on a Q-o-Q basis to 192KT for Q4 FY ’23. The VSF EBITDA turned positive in Q4 FY ’23 and VFY margins have improved on the back of better realisations and lower raw materials prices.
Globally, the VSF industry witnessed a sharp recovery in Q4 FY ’23 following an exceptionally subdued environment in Q3 FY ’23. The reopening of the Chinese markets has aided the overall pickup of demand. China VSF average operating rates increased to 69 per cent for Q4 FY ’23 compared to 66 per cent in Q3 FY ’23 with an exit at 80 per cent.
The increase in demand has reduced the average inventory levels to an average of 23 days, down from a peak of 27 days in Q3 FY ’23.
