Grasim Industries

Grasim Industries Limited is an Indian manufacturing company based in Mumbai. Since its inception in 1947 as a textile manufacturer, Grasim has diversified into textile raw materials like viscose staple fiber (VSF) and viscose filament yarn, chemicals[2] and insulators, along with cement and financial services through its subsidiaries UltraTech Cement and Aditya Birla Capital respectively. The company is a part of the Aditya Birla Group.

Grasim Industries Limited
TypePublic
ISININE047A01021
IndustryFibre
Chemicals
Agrochemicals
Textiles
Insulator
Founded1947 (1947) in Gwalior
Headquarters
Mumbai, Maharashtra
,
India
Area served
Worldwide
Key people
Kumar Mangalam Birla
(Chairman)
H K Agarwal
(MD)
Revenue ₹77,449 crore (US$10 billion) (2021)[1]
₹9,582 crore (US$1.3 billion) (2021)[1]
₹6,797 crore (US$890 million) (2021)[1]
Total assets ₹267,056 crore (US$35 billion) (2021)[1]
Total equity ₹65,491 crore (US$8.6 billion) (2021)[1]
Number of employees
24,123 (March 2021) [1]
ParentAditya Birla Group
SubsidiariesUltraTech Cement
Aditya Birla Capital
Websitegrasim.com

Grasim is the world's largest producer of viscose rayon fiber with about 24% market share.[3] Textile and related products contribute to 15% of the group's turnover.

History

Grasim Industries Limited was incorporated in 1947.

Indo-Thai Synthetics Company Ltd was incorporated in 1969 in Thailand, started operations in 1970, this was Aditya Birla Group's first foray into international venture. Aditya Birla Group incorporated P.T. Elegant Textiles in 1973 in Indonesia. Thai Rayon incorporated in 1974, this was the second company in Thailand, operating in Viscose Rayon Staple Fiber. Century Textiles Co. Ltd. is taken over by Aditya Birla Group in 1974; this company is a weaving and dyeing plant manufacturing and exporting variety of synthetic fabrics. PT Sunrise Bumi Textiles incorporated in 1979, it produces yarn exported over 30 countries in 6 continents. P.T Indo Bharat Rayon incorporated in 1980 produces Viscose Staple Fiber in Indonesia. Thai Polyphosphates and Chemicals was started in 1984 in Thailand to produce Sodium Phosphates, and has merged with Thai Epoxy and Allied Products Company Limited (1992), Thai Sulphites and Chemicals Company Limited (1995) to form Aditya Birla Chemicals Ltd. This company supplies to sectors such as food, textiles, electrical and electronics, composites, leather, plastics and automobiles. PT Indo Liberty Textiles was incorporated in 1995 to manufacture synthetic spun yarn.

In 1985, the firm's activities in its Mavoor facility ran into controversies after it shut down, first temporarily and later on, permanently.

In late 1990s and later, the focus was the textile business following the end of Multi-Fiber Arrangement (MFA).

AV Cell Inc., a joint venture between Aditya Birla Group and Tembec, Canada, established operations in 1998 to produce softwood and hardwood pulp for the purpose of internal consumption among different units of the Group.

In 2012, Grasim Industries Ltd. and Tembec, Canada acquired AV Nackawic Inc., which produces dissolving pulp.

Listed subsidiaries

In 2010, Grasim demerged its cement business, which contributed 76% of the company's turnover in the previous financial year, into a separate entity, now known as UltraTech Cement.[4]

In 2017, it demerged Aditya Birla Capital, its financial services arm, which included consumer finance, insurance and asset management divisions among others,[5]

Operations

Grasim is the largest exporter of Viscose Rayon Fiber in the country, with exports to over 50 countries. Grasim is headquartered in Mumbai and also has plants at Nagda (Madhya Pradesh), Kharach (Kosamba, Gujarat), Bharuch (Vilayat GIDC, Gujarat) and Harihar, (Davangere, Karnataka).

Grasim Industries Ltd. supplies Viscose Staple Fiber (VSF). The Group's VSF business operates through its three companies – Grasim Industries in India, Thai Rayon Corporation in Thailand and Indo Bharat Rayon in Indonesia, which also oversees its Chinese operations at Birla Jingwei Fibres, China.

Former businesses

Recognition

Grasim Industries was ranked 154th in a list of the world's best regarded firms compiled by Forbes.[10]

In 2003, its Chemical Division was awarded the "Best of all" Rajiv Gandhi National Quality Award.[11]

Grasim sponsored Grasim Mr. India event from 1994 to 2012 that sent the winner to compete in international events like Mister International and Mister World.

It ranked 24th in the Fortune India 500 list in 2020.[12]

Other mentions

Grasim Industries operates Private Harihar Airport In Harihar, Karnataka. The airport served as an air strip for private charter service.

Footnotes
  1. "BalSheet 31.03.2020".
  2. "Business overview". Archived from the original on 25 June 2013. Retrieved 9 April 2008.
  3. "With India, Grasim Industries will celebrate its 70th anniversary". India Today. Retrieved 21 October 2018.
  4. "Grasim tumbles on demerger of cement business". NDTV.com.
  5. "Grasim Industries cracks 22% after demerger of Aditya Birla Capital". Moneycontrol.
  6. "Grasim quits sponge iron". www.telegraphindia.com.
  7. "Grasim sells consumer products business to Future Group - ET Retail". ETRetail.com.
  8. sundarajan, Priya. "Grasim Ind divests Grasim Bhiwani Textiles to Donear group". www.thehindubusinessline.com.
  9. Thomas, Tanya (12 November 2020). "Grasim sells fertiliser business to Indorama for ₹2,649 crore". mint.
  10. "12 Indian firms feature in Forbes' list of world's best companies". Hindustan Times. 2 October 2018. Retrieved 3 October 2018.
  11. SHRAWAN (29 May 2013). "ANNEX IV: LIST OF AWARD WINNERS OF RAJIV GANDHI NATIONAL QUALITY AWARDS" (PDF). bis.org.in. New Delhi: Bureau of Indian Standards. Retrieved 15 May 2014.
  12. "Grasim Industries - Fortune 500 List 2020 - Fortune India". www.fortuneindia.com. Retrieved 12 January 2021.
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