Grasim Industries Limited is an Indian manufacturing company based in Mumbai. Since its inception in 1947 as a textile manufacturer, Grasim has diversified into textile raw materials like viscose staple fiber (VSF) and viscose filament yarn, chemicals[2] and insulators, along with cement and financial services through its subsidiaries UltraTech Cement and Aditya Birla Capital respectively. The company is a part of the Aditya Birla Group.
 | |
| Company type | Public |
|---|---|
| ISIN | INE047A01021 |
| Industry | Fibre Paints Chemicals Agrochemicals Textiles Insulator |
| Founded | 1947 in Gwalior |
| Headquarters | , India |
Area served | Worldwide |
Key people | Kumar Mangalam Birla (Chairman) H K Agarwal (MD) |
| Revenue |  ₹132,243 crore (US$16 billion) (2024)[1] |
| ₹14,181 crore (US$1.7 billion) (2024)[1] | |
 ₹9,926 crore (US$1.2 billion) (2024)[1] | |
| Total assets | ₹412,539 crore (US$49 billion) (2024)[1] |
| Total equity | ₹138,938 crore (US$17 billion) (2024)[1] |
Number of employees | 45,929 (including 20,000 non-permanent employees) (March 2024)[1] |
| Parent | Aditya Birla Group |
| Subsidiaries | UltraTech Cement Aditya Birla Capital |
| Website | www |
History
editGrasim Industries Limited was incorporated in 1947.
Indo-Thai Synthetics Company Ltd was incorporated in 1969 in Thailand, started operations in 1970, this was Aditya Birla Group's first foray into international venture. Aditya Birla Group incorporated P.T. Elegant Textiles in 1973 in Indonesia. Thai Rayon incorporated in 1974, this was the second company in Thailand, operating in Viscose Rayon Staple Fiber. Century Textiles Co. Ltd. is taken over by Aditya Birla Group in 1974; this company is a weaving and dyeing plant manufacturing and exporting variety of synthetic fabrics. PT Sunrise Bumi Textiles incorporated in 1979, it produces yarn exported over 30 countries in 6 continents. P.T Indo Bharat Rayon incorporated in 1980 produces Viscose Staple Fiber in Indonesia. Thai Polyphosphates and Chemicals was started in 1984 in Thailand to produce Sodium Phosphates, and has merged with Thai Epoxy and Allied Products Company Limited (1992), Thai Sulphites and Chemicals Company Limited (1995) to form Aditya Birla Chemicals Ltd. This company supplies to sectors such as food, textiles, electrical and electronics, composites, leather, plastics and automobiles. PT Indo Liberty Textiles was incorporated in 1995 to manufacture synthetic spun yarn.
In 1985, the firm's activities in its Mavoor facility ran into controversies after it shut down, first temporarily and later on, permanently.
In late 1990s and later, the focus was the textile business following the end of Multi-Fiber Arrangement (MFA).
AV Cell Inc., a joint venture between Aditya Birla Group and Tembec, Canada, established operations in 1998 to produce softwood and hardwood pulp for the purpose of internal consumption among different units of the Group.
In 2012, Grasim Industries Ltd. and Tembec, Canada acquired AV Nackawic Inc., which produces dissolving pulp.
Listed subsidiaries
editIn 2004, Grasim acquired UltraTech Cement from Larsen & Toubro.[3] In 2010, Grasim demerged its cement subsidiary, Samruddhi Cement, which contributed 76% of the company's turnover in the previous financial year.[4] Later that year, Samruddhi Cement was merged into UltraTech Cement.[5]
In 2017, it demerged Aditya Birla Capital, its financial services arm, which included consumer finance, insurance and asset management divisions among others. After the demerger, Grasim continued to hold a 55% stake in Aditya Birla Capital.[6]
Operations
editGrasim is the largest exporter of Viscose Rayon Fiber in the country, with exports to over 50 countries. Grasim is headquartered in Mumbai and also has plants at Nagda (Madhya Pradesh), Kharach (Kosamba, Gujarat), Veraval (Gujarat), Bharuch (Vilayat GIDC, Gujarat) and Harihar, (Davangere, Karnataka).
Grasim Industries Ltd. supplies Viscose Staple Fiber (VSF). The Group's VSF business operates through its three companies – Grasim Industries in India, Indo Bharat rayon in Indonesia, Thai Rayon Corporation in Thailand, which also oversees its Chinese operations at Birla Jingwei Fibres, China.
By 2021, Grasim industries, the flagship company of the global conglomerate Aditya Birla Group, entered the paints business with an investment of INR 5,000 crore over three years. Which was later increased to a capex of INR 10,000 crore over the same period of time thus trying to disrupt the market.
Former businesses
edit- In 2008, Grasim sold its sponge iron business to the Welspun Group for ₹1030 crore.[7]
- In 2015, it sold its consumer products business to Future Group.[8]
- In 2017, Grasim sold its wholly-owned subsidiary Grasim Bhiwani Textiles to Donear Group.[9]
- In 2020, Grasim sold its entire stake in Indo Gulf Fertilisers to Indorama Corporation for ₹2649 crore.[10]
Recognition
editGrasim Industries was ranked 154th in a list of the world's best regarded firms compiled by Forbes.[11]
In 2003, its Chemical Division was awarded the "Best of all" Rajiv Gandhi National Quality Award.[12]
It ranked 24th in the Fortune India 500 list in 2020.[13]
Other mentions
editGrasim Industries operates Private Harihar Airport In Harihar, Karnataka. The airport served as an air strip for private charter service.
Footnotes
edit- ^ a b c d e f "Outcome of Board Meeting pursuant to Regulations 30, 33, 52 and other applicable Regulations of SEBI" (PDF). BSE. 22 May 2024.
- ^ "Business overview". Archived from the original on 25 June 2013. Retrieved 9 April 2008.
- ^ Kapur, Mansi (28 May 2004). "Grasim to get control of L&T cement business on July 1". Business Standard India. Retrieved 21 July 2022.
- ^ "Grasim tumbles on demerger of cement business". NDTV.com.
- ^ "Ultratech-Samruddhi merger: August 25 fixed as record date". The Economic Times. Retrieved 21 July 2022.
- ^ "Grasim Industries cracks 22% after demerger of Aditya Birla Capital". Moneycontrol. 19 July 2017.
- ^ "Grasim quits sponge iron". www.telegraphindia.com.
- ^ "Grasim sells consumer products business to Future Group - ET Retail". ETRetail.com.
- ^ sundarajan, Priya (10 July 2017). "Grasim Ind divests Grasim Bhiwani Textiles to Donear group". www.thehindubusinessline.com.
- ^ Thomas, Tanya (12 November 2020). "Grasim sells fertiliser business to Indorama for ₹2,649 crore". mint.
- ^ "12 Indian firms feature in Forbes' list of world's best companies". Hindustan Times. 2 October 2018. Retrieved 3 October 2018.
- ^ SHRAWAN (29 May 2013). "ANNEX IV: LIST OF AWARD WINNERS OF RAJIV GANDHI NATIONAL QUALITY AWARDS" (PDF). bis.org.in. New Delhi: Bureau of Indian Standards. Retrieved 15 May 2014.
- ^ "Grasim Industries - Fortune 500 List 2020 - Fortune India". www.fortuneindia.com. Archived from the original on 14 January 2021. Retrieved 12 January 2021.
