Grasim looks to invest INR59bn in modernising its cement plants

India’s Grasim Industries will invest over INR130bn (US$1.9bn) in its cement and textiles businesses over the next 24-36 months, as the company looks to increase capacity and modernise production, according to a senior official of the group.

The company, including its subsidiary, UltraTech, will invest INR59bn in modernising its existing cement plants, while also carrying out environmental upgrades and increasing the capacity of the assets acquired from Jaiprakash Associates.

Business results
Grasim reported an 18 per cent YoY increase in standalone net profit to INR3.73bn for the quarter ending 31 March 2018. Revenue from operations saw a significant increase of 48 per cent to finish at INR46.06bn, while EBITDA grew 70 per cent to INR9.47bn.