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Mumbai: Grasim Industries Friday reported a consolidated net profit of Rs 2,032 crore in the September quarter, up 27 per cent year-on-year from Rs 1,595 crore in the same period last year on the back of higher realisations and a pick-up in demand.

“The demand momentum picked up in Q2FY22 and has continued thereafter across all businesses.

Backed by strong demand, realisation and volumes have improved in key businesses, offsetting the cost increase,” the company said in a media statement.

Grasim’s consolidated revenue for Q2FY22 was up 26 per cent at Rs 22,564 crore. EBITDA was up 19 per cent at Rs 4,282 crore.

The company’s standalone revenue for Q2 FY22 jumped 67 per cent to Rs 4,933 crore and EBITDA more than doubled to Rs 1,504 crore. Its PAT was at Rs 979 crore up 180 per cent, on a YoY basis.

The company said that the Fertiliser Business pestment process is expected to be completed by Q3FY22.

Grasim has businesses ranging from Viscose Staple Fibre and Viscose Filament Yarn, Chlor-Alkali and Linen Yarn and Fabrics.

Grasim announced in January its entry into the paints business with an investment of Rs 5,000 crore over the next 3 years. The company has acquired land at 5 locations as part of its pan-India footprint for paints manufacturing.

“These locations have been identified in different regions, basis proximity to key consumption hubs across India. The process of environmental clearance is also underway for various project sites,” the company said in the media statement.

The contracts for basic engineering and detailed engineering have been awarded. The civil work at various sites shall commence post receipt of the environmental clearance, the statement said.

In its VSF business, the company said that the planned brownfield expansion at Vilayat (300 TPD) has been commissioned in November-21, while the second line of 300 TPD will be ready for commissioning in Q3FY22 as planned.

Viscose business reported a revenue of Rs 3,005.17 crore.

“The VSF business recorded the highest ever total sales volume with domestic sales volume, back to the pre-pandemic level in Q2FY22,” the company said, adding that the share of value-added products in the overall sales mix almost doubled YoY to 27 per cent.

The company’s chemical business reported a revenue of Rs 1,628 crore.

In the Chlor-alkali business, Caustic Soda expansion of 170 TPD at Rehal (Jharkhand) and Chloromethane plant of 150 TPD at Vilayat (Gujarat) has also been commissioned in Q3FY22. Additionally, Caustic Soda capacities at BB Puram (200 TPD) and Vilayat Phase I (200 TPD) will be commissioned in H2FY22.

Grasim’s cement subsidiary UltraTech Ltd, reported a Consolidated Revenue at Rs 12,017 Cr. up 16 per cent YoY, with EBITDA at Rs 2,855 crore.