GRASIM INDUSTRIES-Expansion Programme

EPW Research Foundation GRASIM INDUSTRIES Expansion Programme PLAGUED by intermittent power cuts and a fire that threatened production, performance of Grasim Industries, the flagship company of the Kumaramangalam Birla group for the year ended March 1996 was less than satisfactory. Grasim Industries has diversified interests ranging from textiles and chemicals to viscose staple fibre (VSF) and cement. Turnover for the year ended March 1996 rose from Rs 2,061 crore to Rs 2,742 crore in the previous year, a rise of 33 per cent. Other income was up by 95 per cent. Interest costs moved up by 62 per cent. Provision for depreciation was up by 65 per cent while that for tax moved up by 174 per cent. Profits were up by 8 per cent from Rs 309 crore to Rs 332 crore. The company stepped up dividend payment from 57.50 per cent paid last year to 62.50 per cent.