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Home STOCKS Grasim Industries: Lockdown to effect Q1 performance, examining capex options: Grasim Industries

Grasim Industries: Lockdown to effect Q1 performance, examining capex options: Grasim Industries

New Delhi: Grasim Industries, the flagship company of the USD 48 billion Aditya Birla Group, reported its money functionality in the April-June quarter will be substantially impacted thanks to the coronavirus lockdown and it is examining its capital expenditure plans.
Nevertheless, Grasim Industries, whose subsidiaries include UltraTech Cement and Aditya Birla Capital, stated it would be complicated to offer an estimate on the comprehensive-12 months general performance of the firm.
As for each the existing assessment, there is no important impression on the company’s capital and economic resources and other assets, it stated.
“The operational and economical efficiency of the organization will be substantially impacted through the Q1FY21 on account of lockdown led demand slowdown.
“Given the latest condition of affairs, it would be complicated to give an estimate on the entire-calendar year effectiveness of the corporation for FY21,” it claimed in a filing to the exchanges on the influence of the COVID-19 pandemic.
The company also mentioned it has preserved a “snug liquidity position”, each in conditions of liquid investments as perfectly as credit accessible.
On the other hand, it is examining the capital expenditure (capex) designs for this fiscal.
“We will get a selection on timeline for these capex primarily based on general financial and demand outlook,” it included.
The company further more stated its economical position is “strong ample to support all money owed” and consider treatment of the working capital necessity.
Regarding the supply chain, it stated the first disruptions have eased now.
“The corporation maintains an optimum degree of inventory which will aid restart and scale-up of our crops. With the freshly declared suggestions of Might 31, 2020, the supply chain circumstance is predicted to strengthen with material relaxation in lockdown,” it said.
Grasim Industries, a big worldwide producer of viscose staple fibre and the major chlor-alkali, linen and insulators participant in India, stated solution despatches to clients have been resumed across all running crops.
The firm last week noted a 45.61 for each cent enhance in consolidated net profit to Rs 2,305.19 crore for the March quarter.

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