Grasim Industries approves ₹2,000 crore non-convertible debenture issue – CNBC TV18
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“The Finance Committee of the Board of Directors of the Company at its meeting held today, inter-alia, has approved the issuance of Non-Convertible Debentures on private placement basis, for an amount not exceeding ₹2,000 crore, in one or more tranches,” the company said in its filing to the stock exchanges.
This update comes as Grasim continues to strengthen its position across various sectors, including textiles, chemicals, and cement.
The Aditya Birla Group flagship holding firm reported a 45.64% decline in consolidated net profit at ₹1,100.16 crore in the second quarter ended September 2024, impacted by lower profitability by its cement business and higher interest and depreciation charges on account of investments in renewables business.
The company had posted a net profit of ₹2,024.05 crore during the July-September quarter a year ago, according to a regulatory filing by Grasim Industries, which is the holding firm for group companies such as UltraTech, Aditya Birla Capital and Aditya Birla Renewables.
Its revenue from operations was up 11.05% to ₹33,562.85 crore during the quarter under review. It was at ₹30,220.68 crore in the corresponding period of the previous fiscal.
Share of Grasim Ltd on Wednesday settled at ₹2,670.6 on BSE, up 0.6% from the previous close. The stock has, however, fallen 1.7% so far this week.
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