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Aditya Birla Group firm Grasim Industries, a leading producer of viscose staple fibre, has sought a "fibre neutral" policy from the government by removing 12.3 percent excise duty levied on viscose fibre as its rival cotton industry is exempted from such levy.
Competition Commission has ordered a detailed probe against Aditya Birla group firm Grasim Industries for alleged discriminatory pricing ways in the sale of viscose staple fibre, a raw material used for making fabric.
In an interview to CNBC-TV18, SP Tulsian of sptulsian.com shared his reading and outlook on the market.
For the full year, consolidated revenue was higher by 12 percent to Rs 36,637 crore and net profit increased to Rs 2,387 crore as compared to Rs 1,753 crore last year.
The existing anti-dumping duties, imposed in 2010, are up for review shortly and a section of the textile industry is calling for ending duty protection, citing rising input cost.
Profit may be supported by higher other income via dividend. Topline may be aided by higher viscose staple fibre (VSF) volumes that may increase on commissioning of new capacity at Vilayat plant. Realisations could see some improvement sequentially.
On a standalone basis, Q1 net profit was flat at Rs 105.7 crore from Rs 105.84 crore in year-agop period. Total income jumped 15.1 percent to Rs 1,657 crore against Rs 1,439.5 crore (Y-o-Y). EBITDA was up 53 percent at Rs 215 crore versus Rs 141 crore while EBITDA margin stood at 13 percent against 9.8 percent (Y-o-Y).
Total income from operations grew by 12.6 percent to Rs 1,600 crore in the quarter ended September 2014 compared to Rs 1,421 crore in same quarter last year.
