Grasim Industries reports 34% rise in Q2 FY24 net profit

14 Nov 2023 CW Team

Grasim Industries, a component of the Aditya Birla Group, announced a significant increase of 34.11% in its net consolidated profit for the quarter concluding on September 30, 2023. The profit after tax for Q2 FY24 reached Rs 20.24 billion, contrasting with the Rs 15.09 billion reported in the corresponding quarter of the previous fiscal.

As stated by the company, its net consolidated total income for Q2 FY24 reached Rs 305.05 billion, marking a growth of 9.98% compared to the Rs 277.37 billion recorded in the corresponding quarter of the preceding year.

On October 16, 2023, the board of directors of the company deliberated and sanctioned the proposal to raise funds through a Rights Issue of Equity Shares with a face value of Rs 2 each. This initiative is targeted at eligible equity shareholders, with the intention to generate an amount not surpassing Rs 40 billion.

In the course of the quarter, the company executed the transfer of 78,582 equity shares to the option grantees from the Grasim Employee Welfare Trust. This action was taken in response to applications received under the Employee Stock Option Scheme — 2018.

Equipment

12 Dec 2025

Escorts Kubota Unveils BS V Next-gen Construction Range at Excon 2025

Escorts Kubota (EKL), one of India’s major engineering groups in the agricultural and construction equipment sectors, unveiled its latest BS V–compliant construction machinery line-up at Excon 2025. The refreshed portfolio underscores the company’s push toward application-driven, high-productivity solutions that reduce ownership costs and meet the needs of India’s expanding infrastructure landscape. With demand rising across urban development, industrial logistics and mining, the new range aims to deliver higher performance, durability and operator comfort.In the earthmoving segment, E..

ACE and Kotak Mahindra Bank Join Hands to Boost Backhoe Loader Financing

Action Construction Equipment (ACE), the world’s largest Pick-n-Carry crane maker and a leading manufacturer of material handling and construction equipment in India, has entered into a Memorandum of Understanding with Kotak Mahindra Bank to enhance the availability of flexible financing options for backhoe loader customers across the country.The collaboration aims to support contractors, infrastructure companies, entrepreneurs, SMEs, and emerging businesses by offering smoother access to credit through customised loan schemes, quicker turnaround times, and the extensive footprint of Kotak M..

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..