Grasim Industries Q4 Review - Better VSF Outlook: ICICI Securities
A worker working in Warping section making beam in a textile mill. (Photographer: Asad Zaidi/Bloomberg)

Grasim Industries Q4 Review - Better VSF Outlook: ICICI Securities

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.

ICICI Securities Report

Grasim Industries Ltd.’s Q4 FY21 standalone Ebitda at Rs 8.1 billion (up 2.5 times YoY) was broadly in-line with our/consensus estimates led by sharp improvement in viscose staple fibre profitability.

VSF Ebitda improved to Rs 37/kilogram from Rs 27/kg QoQ as realisation improved from Rs 120/kg to Rs 144/kg QoQ.

However, the spread between VSF and pulp is expected to normalise with increasing pulp prices and some softness in VSF prices.

Click on the attachment to read the full report:

ICICI Securities Grasim Q4FY21 Result Update.pdf

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