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Grasim net up 13% in Q4 on better realisation May 24, 2021 Plans ₹2,600-cr capex this fiscal Grasim Industries, an Aditya Birla Group company, has reported 13 per cent increase in March quarter consolidated net profit at ₹2,617 crore, against ₹2,309 crore logged in the same period last year, largely due to better realisation. Revenue was up 26 per cent at ₹24,399 crore (₹19,350 crore) while Ebitda was up 56 per cent at ₹5,142 crore. The company declared a dividend of ₹9 per equity share. Revenue from the discontinued fertilizer business was down at ₹561 crore (₹623 crore) while Ebitda almost halved to ₹33 crore (₹68 crore). The financial performance of the fertilizer business was not included in this quarter as the company expects to divest the business by Q2 of FY22. ....
- As per Trend report, the share of cotton yarn in Uzbekistanâs textile exports have increased to 50.7 per cent. The report refers to the State Statistics Committee of Uzbekistan for data. Uzbekistanâs textile exports increased 21.2 per cent to $1.86 billion in 2020. These exports accounted for 12.3 percent of the total volume of exports last year ($15.1 billion). The main share in the exports accounted for cotton yarn (50.7 per cent) followed by finished knitwear and garments (36.3 per cent). These products were exported to 70 countries across the world. Russia held the largest share in exports, with products worth $655.5 million. China was second and Kyrgyzstan followed at third position. In fact, the value of exports to Kyrgyzstan increased three times during the period. ....
- The yet to recover apparel business and fresh lockdowns in EU and US has led to a 40 per cent increase in Bangladeshâ yarn prices, says Md Fazlul Hoque, Managing Director, Plummy Fashions. As per Textile Today, prices are expected to stabilize in coming months with an increase in production. Demand is likely to rebound on recovery from the pandemic leading to a decline in cotton stocks, says an ICRA report. However, absolute cotton stocks, as well as cotton stock-to-use ratio, are expected to remain high. The rise in local yarn prices can be attributed to growing international cotton prices that also affected Bangladeshâs garment shipments, especially of knitwear, during the ongoing pandemic, says Monsoor Ahmed, Secretary, Bangladesh Textile Mills Association (BTMA). ....
- MEG futures EG2105 contract broke 5,900yuan/mt and spot price stood around 6,400yuan/mt, leaving spot/futures spread at quite high level. With the rapid increase in MEG price, coal-based MEG cash flow also improved. After the China market returned from Chinese New Year holidays on February 18, coal chemical producers were active to run at high rate. Coal-based MEG cash flow improved despite rising coal prices. For a 200kt/year unit, the cash flow would reach around 1,700-1,750yuan/mt recently. (The cost here includes freight rate and discount, excludes depreciation and financial expenses.) Inner Mongolia Tongliao GEM Chemical shut its 300kt/year coal-based MEG unit on February 26 for around one week maintenance. Xinhang Energy has restarted its 100kt/year line of its 400kt/year coal-based unit days earlier than original plan. Operating rate of coal-based MEG units was around 64.9% on Feb 25, up 6.1% from the pre-holiday level of 58.8%. ....
After short cooling before Spring Festival, forward imported cotton yarn price surged quickly during and after Spring Festival with some varieties exceeding . ....