Grasim Industries: History, Latest Updates, Milestones, Subsidiaries & Share Price
INTRODUCTION
Grasim Industries Limited, a flagship of the Aditya Birla Group, stands as a top-tier publicly listed Indian company with a 76-year history. Originating as a textiles manufacturer in 1947, Grasim has evolved into a diversified industry leader. It globally excels in Viscose production, diversified chemicals, and is a significant player in India's Linen Yarn and Fabrics market. The company has ventured into the paints sector with 'Birla Opus' and is set to establish six decorative paint manufacturing plants across India. Leveraging group synergies, Grasim has introduced "Birla Pivot," a B2B online marketplace for building materials. Through subsidiaries like UltraTech Cement, Aditya Birla Capital, and Aditya Birla Renewables, Grasim is a prominent cement producer, diversified financial services player, and contributor to clean energy solutions in India. Committed to sustainable value creation, Grasim reported a consolidated net revenue of Rs. 1,17,627 Cr. and EBITDA of Rs. 20,478 Cr. in FY 2023.
GRASIM INDUSTRIES MOVES IN 2024
As of 12th February 2024, Grasim Industries Limited partly paid-up capital raised to 10% for Rs.846.55 . The company's stock was the highest gainer in BSE's A group.
As per Q3FY2024 results, Grasim Industries has reported Revenue of Rs.31965 crore which is increased by 12% year on year , Net income is Rs.1514 crore which is reduced by 40% year on year, profit margin is reduced by 8.8% year on year basis.
On 13th November, 2023, Grasim Industries revealed its financial outcomes for the second quarter of the fiscal year 2024. The consolidated revenue has experienced a noteworthy 10% year-on-year increase, reaching Rs. 30,221 Cr. This growth is primarily attributed to the robust performances of key subsidiaries, namely UltraTech Cement and Aditya Birla Capital.
On 16th October, 2023, Grasim approved to generate Rs. 4,000 Cr through a rights issue.
On 14th September,2023, The Aditya Birla Group is set to introduce its paints venture under the brand name 'Birla Opus.'
On 10th August, 2023, Grasim Industries Limited disclosed its Financial Results for the quarter ending June 30, 2023. The Consolidated Revenue has surged by 11% year-on-year, reaching Rs. 31,065 Cr. This growth is attributed to the robust performance of key subsidiaries, including UltraTech Cement, Aditya Birla Capital, and Aditya Birla Renewables.
On 17th July, 2023, Grasim's SFD-Nagda has been honoured with the 7th CSR Health Impact Awards in the "Water Harvesting Project–Silver" category.
On 12th June, 2023, the introduction of Birla SaFR marks the launch of sustainable flame-retardant fibres.
On 26th May,2023, Grasim Industries Limited disclosed its Financial Results for the quarter and fiscal year ending March 31, 2023. Notably, the consolidated revenue for FY23 achieved a significant milestone, surpassing Rs.1 Lakh Cr. to reach Rs. 1,17,627 Cr. This represents a substantial 23% year-on-year growth, propelled by the robust performance of standalone businesses and the strong contributions from key subsidiaries, including UltraTech Cement, Aditya Birla Capital, and Aditya Birla Renewables.
EVOLUTION OF GRASIM INDUSTRIES: FROM PAST TO PRESENT:
|
Year |
Evolution |
|
25TH August, 1947 |
Incorporated on August 25th in Gwalior, the company produces a diverse range of products, including viscose staple fibre, carbon-di-sulphide, sulfuric acid, sodium sulphate, rayon, cotton fabrics, rayon-grade pulp, and paper. |
|
1963 |
The company acquired a cotton textile mill in Bhiwani (Punjab) with an installed capacity of 18,000 spindles and 286 looms, renaming it as Bhiwani Textile Mills. |
|
1979 |
The company engaged in a joint venture initiative in Bihar to produce 33,000 tonnes of caustic soda annually under the name Bihar Caustic & Chemicals Ltd., was established for this venture. |
|
1980 |
The company collaborated with Tamil Nadu Industrial Development Corporation, Ltd. to establish an aluminium fluoride manufacturing plant in Ramnad, named Tamil Nadu Fluorine & Allied Chemicals Ltd. was formed for this venture. |
|
1985 |
The company collaborated with LVD Company N.V., Belgium, to manufacture advanced balers for the man-made fibre industry. Additionally, the company became a co-promoter in Indo-Gulf Fertilisers and Chemicals Corporation, Ltd. (INDOGULF). INDOGULF initiated a project to produce 1,350 tonnes per day of ammonia and 2,200 tonnes per day of urea. |
|
1986 |
The company collaborated with Nevmag of West Germany to manufacture a diverse range of equipment for various fibre machinery. Introduced stable bleaching powder (SBP) as "Vikram SBP," the company ventured into exports. Furthermore, the company underwent a name change from Gwalior Rayond Silk Mfg. (Wvg.) Co., Ltd. to its current name on July 22nd. |
|
1987 |
The company proposed a 12% participation in the Mangalore Refinery and Petrochemicals Ltd., a joint venture with Indian Rayon & Industries Ltd. and Hindustan Petroleum Corporation Ltd. The venture aimed to establish a petrochemical complex with a 3 million tonnes per annum capacity, producing a minimum of 2,50,000 tonnes per annum of ethylene. |
|
1988 |
Subsidiaries include Kerala Spinners, Ltd., Gwalior Properties & Estates Ltd. (GPEL), and Seshasayee Properties Ltd. (SPL). During the year, Turquoise Investments & Finance Ltd. and Trapti Trading & Investments Ltd. became subsidiaries of GPEL and SPL, respectively. |
|
1989 |
The Engineering Division entered a technical agreement with Thai Acrylic Fibres, Ltd., and Andhra Pradesh Rayons collaborated for a turnkey 45-tonne/day viscose staple fibre plant. Grasim successfully launched "MASTERWEAR" readymade shirts and trousers. There was a proposal for a hydrogen peroxide project with a 6,000-tonne annual capacity at Nagda in collaboration with a reputable U.S.A. company. |
|
1991 |
It explored providing know-how and consultancy services, along with machinery, to rayon manufacturers in China. |
|
1994 |
The cotton textile mill unit committed to establishing a new unit named "Elegant Spinners" with 14,000 spindles. |
|
1995 |
Introduced the ADONIS fabric range. Established Birla Capital International AMC Ltd., a joint venture with Capital Group International Inc., launching the Birla Advantage Fund. Committed to joint venture power projects in U.P. & M.P. with Powergen Plc., U.K., for the Rosa (1000 MW) and Bina (1000 MW) projects, conducting detailed studies. |
|
1996 |
A new synthetic denim with a universal blend of polyester, viscose, and cotton was introduced, branded as SUMO. |
|
1997 |
The Cotton Textile division launched the `Jusilk' denim brand, featuring a blend of polyester and jute, along with a unique water-repellent denim. To establish viscose fibre spinning facilities, a three-year agreement was made with Eastern Spinning Mills & Industries, Ltd., Calcutta, with a capacity of approximately 25,000 spindles. A new division, Vikram Premium RMC, was formed for Ready Mixed Concrete production. Grasim Industries Ltd. signed agreements with National Securities Depository Ltd. (NSDL) and MCS Ltd. to dematerialize its shares, while concurrently initiating a new radial tire production plant in Pondicherry. |
|
1998 |
Grasim Industries (GIL) developed the country's first synthetic suiting. Vikram Ispat, a Grasim unit, earned the Maharashtra Government's award for the highest export of hot briquetted iron (HBI) in the steel sector. |
|
2000 |
Grasim Industries Ltd., an Aditya Birla group company, initiated market-seeding for its new micro-grade viscose staple fibre, Grasi Soft. |
|
2002 |
Birla Technologies is no longer a Grasim Industries subsidiary. Grasim and Pantaloon form a technical tie-up for Viscose Staple Fibre (VSF) manufacturing. |
|
2003 |
Grasim Industries acquires L&T's cement business. Grasim divests its holding in Indo Gulf Fertilisers Ltd (IGFL), reducing its stake from 12.6% to nil. |
|
2004 |
Grasim Industries acquires a majority stake in Ultra Tech CemCo Ltd, the demerged Cement business of L&T. Grasim's textile and apparel unit introduces the 'Venetia' range of fabric, providing international-class suiting at an 'affordable' Rs 5,000. |
|
2005 |
Grasim acquires St. Anne Nackawic Pulp Mill in Canada from Tembec Inc. |
|
2006 |
Grasim establishes a joint venture, Birla Jingwei Fibres Company Limited, and acquires a VSF plant in China. |
|
2007 |
Grasim inaugurated eighteen ready-mix concrete plants. |
|
2008 |
Grasim completes a brownfield expansion at Aditya Cement in Shambhupura, Rajasthan. |
|
2009 |
Grasim divests its sponge iron business through a slump sale. |
|
2010 |
Grasim consolidates its cement operations within UltraTech Cement Limited. |
|
2011 |
Grasim acquires a stake in Domsjö Fabriker AB. Grasim's Staple Fibre Division in Nagda receives the CII - Leadership and Excellence Award in Safety, Health, and Environment. |
|
2012 |
Grasim Industries, through AV Terrace Bay Inc., Canada, signs an agreement to acquire Terrace Bay Pulp Inc.'s assets, holding a 40% interest in the proposed SPV. In another partnership, Grasim Industries collaborates with Japan's Omikenshi to develop global markets for functional rayon products. |
|
2014 |
Grasim Industries begins commercial production at the Viscose Staple Fibre Plant in Vilayat, Gujarat. |
|
2015 |
Grasim Industries completes the last phase of its Greenfield Viscose Staple Fibre (VSF) Plant in Vilayat, Gujarat, with the commissioning of the fourth line. |
|
2016 |
Grasim Industries Ltd completes the merger with Aditya Birla Chemicals (India) Ltd. |
|
2017 |
Grasim Industries receives the USDA certified biobased product label for its dope dyed fibers, Birla Spunshades. |
|
Company Information |
|
|
Name |
|
|
Founded year |
25th August, 1947 |
|
Founding Company |
Aditya Birla Group |
|
Headquarters |
Mumbai, Maharashtra, India |
|
Industry |
Fibre, Paints, Chemicals, Agrochemicals, Textiles, Insulator |
|
Current chairman |
Mr. Kumar Mangalam Birla |
|
Major subsidiaries |
UltraTech Cement Aditya Birla Capital |
|
Revenue |
Rs. 121,239 crore (US$15 billion) (2023) |
|
Geographical presence |
India |
|
NSE code |
NSE: GRASIM NSE NIFTY 50 Constituent |
|
BSE code |
BSE: 500300 |
TIMELINE OF GRASIM INDUSTRIES:
|
Year |
Fact |
Description |
|
1947 |
Incorporation |
Grasim Industries was incorporated on 25th August,1947 at Gwalior. |
|
1963 |
Acquisition |
Bhiwani Textile Mills |
|
1980 |
Formation |
Tamil Nadu Fluorine & Allied Chemicals Ltd |
|
1985 |
Collaboration |
Indo-Gulf Fertilisers and Chemicals Corporation, Ltd. |
|
1987 |
Venture |
Petrochemical complex |
|
1989 |
Launch |
Grasim successfully launched "MASTERWEAR" readymade shirts and trousers. |
|
1994 |
Established |
"Elegant Spinners" with 14,000 spindles. |
|
1997 |
Launch |
The Cotton Textile division launched the `Jusilk' denim brand |
|
1998 |
Developed |
Country's first synthetic suiting. |
|
2007 |
Inaugurated |
Grasim inaugurated eighteen ready-mix concrete plants. |
|
2010 |
Consolidation |
Grasim consolidates its cement operations within UltraTech Cement Limited. |
|
2016 |
Merger |
Grasim Industries Ltd completes the merger with Aditya Birla Chemicals (India) Ltd. |
INSIDE GRASIM INDUSTRIES: EXPLORING SUBSIDIARY VENTURES:
Grasim Industries
Corporate Actions/ Main News
-
In the second quarter of fiscal year 2024, Grasim Industries witnessed a YoY revenue growth of 9.95%, accompanied by a YoY profit increase of 15.32%.
-
Grasim Industries Limited, a leading company under the Aditya Birla Group, has officially revealed the brand name for its paints business as 'Birla Opus'.
-
Ms. Ananya Birla and Mr. Aryaman Vikram Birla have been appointed as directors at Grasim Industries Limited.
Ultratech Cement
Corporate Actions/ Main News
-
UltraTech Cement Ltd. the acquisition of the cement grinding assets of Burnpur Cement Ltd in Jharkhand.
-
UltraTech, India's largest cement producer, is considering taking over Kesoram Industries.
Aditya Birla Capital
Corporate Actions/ Main News
-
BITS Pilani and Aditya Birla Capital Foundation join hands with NITI Aayog to provide support to women-led startups in India.
-
Aditya Birla Capital shares surged by 3% following the announcement of a Rs 750 crore investment in its subsidiary.
-
Aditya Birla Capital's (NSE: ABCAPITAL) impressive 30% Compound Annual Growth Rate (CAGR) outpaced the company's earnings growth during the corresponding three-year period.
GRASIM INDUSTRIES SUBSIDIARIES NSE/BSE: CURRENT SHARE PRICES
|
COMPANY NAME |
SECTOR |
SHARE PRICE LINK |
|
Grasim Industries |
Chemicals |
|
|
UltraTech Cement |
Construction materials |
|
|
Aditya Birla Capital |
Finance |
ACHIEVEMENTS & MILESTONE:
|
Year |
Milestones |
|
2023 |
In July 2023, Grasim's B2B e-commerce platform for building materials, "Birla Pivot," becomes operational, serving customers in Madhya Pradesh, Maharashtra, and Delhi. |
|
2022 |
Vilayat VSF plant undergoes a brownfield expansion, adding a capacity of 600 TPD. Liva introduces "Navyasa," a contemporary saree brand. Grasim announces an INR 2000 crore investment over the next 5 years for its entry into the B2B e-commerce platform for building materials. |
|
2021 |
Grasim enters the paints business with a Pan India presence. Chloromethane plant commissioned at Vilayat, Gujarat, with a capacity of 55 HPTA. Caustic soda brownfield expansion at Rehla and BB Puram, with a cumulative capacity of 142 KTPA. |
|
2020 |
Grasim commissions a third-generation 16KTPA specialty fibre plant using in-house green technology at Kharach, Gujarat. |
|
2019 |
Grasim Industries acquires 100% equity shareholding of Soktas India Private Limited for INR 165 crores. 'Livaeco' is launched by Birla Cellulose, aiming for sustainable fashion. |
|
2017 |
Aditya Birla Nuvo merges with Grasim. Ultratech completes the acquisition of cement plants from JaiPrakash Associates Ltd. and Jaypee Cement Corporations Ltd. Aditya Birla Nuvo Ltd. merges with Grasim; financial services business demerged and listed as Aditya Birla Capital Limited. |
|
2015 |
ABCIL merges with Grasim. |
|
2014 |
Grasim commissions a state-of-the-art VSF plant at Vilayat, Gujarat. |
|
2013 |
Caustic soda and epoxy plant commissioned at Vilayat, Gujarat. |
|
2012 |
Grasim acquires AV Terrace Bay Inc. in Canada in a joint venture with Thai Rayon. Key stake in Domsjo Fabriker AB, Sweden, is acquired. |
|
2009 |
Grasim divests its sponge iron business through a slump sale. |
|
2006 |
Joint venture company Birla Jingwei Fibres Company Limited is formed, acquiring a VSF plant in China. |
|
2005 |
AV Nackawic Pulp Mill, Canada, is acquired in a joint venture with other group companies and Tembec Inc. |
|
2002 |
Gwalior textiles unit is divested; textile operations consolidated at Bhiwani to manufacture 'Grasim' and 'Graviera' brands. Consultancy and software services spun off into a separate entity, Birla Technologies Limited. Grasim acquires a 10% stake in L&T. |
|
1996 |
First phase of VSF plant commissioned at Kharach. |
|
1985 |
Vikram Cement, Grasim's first cement plant, goes on stream in Madhya Pradesh. |
|
1947 |
Grasim Industries is incorporated. |
Year |
Achievements |
|
2023 |
Grasim achieves recognition as an ET Sustainable Organization for the year 2023. The Great Place to Work Institute certifies Grasim's Domestic Textile Business as a great workplace. |
|
2022 |
Grasim secures two gold shields at The ICAI awards ceremony. |
|
2021 |
Grasim receives recognition as India's Top Company for sustainability and CSR at the ETSDGs Impact Summit. In the Economic Times - Futurescape 8th Sustainability Index Report 2021, Grasim attains the 7th position on the Responsible Business Ranking. |
|
2018 |
Grasim is honoured with the Dun & Bradstreet CORPORATE award in 2018 for stellar performance in the textile sector. |
CONCLUSION
Grasim Industries Limited, a flagship of the USD $60 billion Aditya Birla Group, established in 1947, has become a global leader in VSF and diversified industries. Recent ventures include paints and a B2B online marketplace for building materials, showcasing a commitment to innovation. With 76 years of transformative success, Grasim holds a 57% stake in UltraTech Cement, a key player in construction, and is a significant force in India's financial sector through subsidiaries UltraTech Cement and Aditya Birla Capital, contributing to a $10 billion conglomerate.
FREQUENTLY ASKED QUESTIONS:
What are Grasim Industries Limited?
Established in 1947, Grasim Industries Limited, the flagship of the Aditya Birla Group, diversified from textiles into VSF, Chlor-Alkali, Advanced Material, Linen Yarn, Fabrics, paints, and cement.
In which industries does Grasim operate?
Grasim operates in diverse industries such as VSF (Viscose Staple Fibre), Chlor-Alkali, Advanced Material, Linen Yarn, Fabrics, paints, cement, and financial services.
What is Grasim's role in the cement industry?
Grasim is a major player in the cement industry and holds a significant 57% stake in UltraTech Cement, which is India's No.1 cement producer.
What are the recent ventures of Grasim Industries?
Grasim has recently ventured into the paints business and set up a B2B online marketplace for building materials, showcasing its commitment to diversification and innovation.
How does Grasim contribute to the building materials sector?
Grasim has set up a B2B online marketplace for building materials, reflecting its commitment to the construction and infrastructure sector.
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