Grasim Industries, the Aditya Birla group flagship, announced the restructuring of its cement business. The company’s board met today to consider a restructuring proposal, which has been widely reported in the media as pertaining to consolidation of its cement business.
Grasim Industries
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Ultratech’s Q1 net profit up 58%, volumes up 24%
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Ultratech Cement’s sales and profits during the June 2009 quarter grew handsomely. The company is a subsidiary of Grasim Industries, a Aditya Birla Group company. Its net sales grew by 31% to Rs 1953 crore, and net profit rose by 58% to Rs 418 crore. Several factors contributed to its good performance: volume growth (partly due to new capacity), firm prices, excise duty reduction, lower coal prices and power costs.