BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Grasim Industries Ltd.’s Q2 FY21 result exhibits a strong recovery from the Covid-19 pandemic.
Both the viscose and chemicals businesses have seen near normalisation of volumes and bottoming out of prices/margins.
While Ebitda declined 40% YoY to Rs 4 billion in Q2, it is now expected to grow YoY in Q3 FY21.
Sale of low return on capital employed fertiliser business for approximately $350 million has been carried out at a good valuation (12 times FY20 enterprise /Ebitda) and would help the company substantially deleverage.
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