Grasim, the Viscose major from the Aditya Birla stable has just announced its results for the quarter that ended September 30, 2017. Commencing July 1 when Aditya Birla Nuvo Limited was merged, the consolidated account has been released.
The consolidated revenue for Q2 of FY18 grew 63% at INR 13,646 crore and EBITDAA was up by 34% at INR 2805 crore compared to INR 2,098 crore in the previous Q2. . The previous year financial results, does not include the erstwhile ABNL numbers hence not comparable.
During the quarter, VSF prices remained firm globally driven by tighter supply ex-China on account of output curtailment due to environmental factors.
The Domestic VSF market saw restocking of the inventory leading to increase in sales volume by 5% YoY. EBITDA for the quarter was at INR 468 Cr. on the back of higher realisation and improved operational efficiencies. Results for the quarter also include revenue of INR 200 Cr. and EBITDA of INR 61 Cr. of VFY business, now part of Grasim post ABNL merger.
Chemicals and Financial Services
Meanwhile, the EBITDA for chemicals, ending Q2 2018 registered a 34% YoY increase to INR 285 crores. ABCL, formerly known as Aditya Birla Financial Services reported a robust financial performance for Q2FY18 with consolidated revenue of INR 2,677 Crores., EBT of INR 373 Crores. and PAT of INR 217 Crores.
The VSF business will continue to focus on expanding the market in India by partnering with the textile value chain, achieving better customer connect through Brand Liva and enriching the product mix through a larger share of specialty fibre.