Grasim Industries Ltd. reported a standalone net loss during the third quarter of financial year 2024-25.
The cement manufacturing company posted a loss of Rs 169 crore in the three months ended Dec. 31, 2024, according to an exchange filing on Monday.
Grasim Industries Q3 Highlights (Standalone, YoY)
Revenue up 27% to Rs 8,120.3 crore versus Rs 6,400.3 crore.
Ebitda down 48% to Rs 270.6 crore versus Rs 522.5 crore.
Margin narrows to 3.3% versus 8.2%.
Net loss of Rs 169 crore versus profit of Rs 236 crore.
Harikrishna Agarwal took an early retirement from his position as managing director of the company, according to an exchange filing from the company on Monday.
Agarwal will also retire from the positions of key managerial personnel as well as member of the board of directors with effect from the close of business hours of March 31.
The board of directors also approved the appointment of Himanshu Kapania as an additional director with effect from April 1, 2025; and the managing director and key managerial personnel of the company, for a period of three years and one month with effect from April 1, 2025, to April 30, 2028.
The appointments are subject to the approval of members of the company.
Shares of Grasim Industries closed 0.14% higher at Rs 2,491 apiece on the NSE, compared to a 0.76% decline in the benchmark Nifty. It has risen by 15.18% in the last 12 months.
Five out of the nine analysts tracking the company have a 'buy' rating on the stock, three recommend 'hold' and one suggests 'sell', according to Bloomberg data. The average of 12-month analysts' consensus price targets implies a potential upside of 18.1%.
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