Grasim Q4 profit rises 62%, board recommends ₹10 per share in dividends
The Hindu
Company cites ‘robust quarterly performance’
Grasim Industries Ltd. of the Aditya Birla Group said consolidated fourth-quarter net profit after exceptional items grew 62% year-on-year to ₹2,777 crore following “a robust quarterly performance”, the company said in a press release.
Revenue climbed 18% to ₹28,811 crore.
For the financial year 2022, Grasim reported a 75% increase in net profit to ₹7,550 crore. Revenue rose 25% to ₹95,701 crore, the company said.
Grasim said it had turned zero net debt with net cash at ₹553 crore as on March 31.
The board of directors recommended a dividend of ₹5 per equity share for the year ended March 31, and a special dividend of ₹5 per share.
The total outflow on account of the dividend would be ₹658 crore.
The company said total capital expenditure came to ₹2,537 crore during FY22, of which ₹579 crore was spent in the paints business.
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