For the fourth quarter Grasim’s consolidated net profit dropped 20 per cent. It had posted a net profit of Rs 1,064 crores during the same period of the previous fiscal.
The viscose staple fiber business reported its highest ever sales volume, led by growth in the domestic market with intense market development efforts. The share of domestic sales in overall sales rose to 75 per cent in fiscal ’18 from 69 per cent in fiscal ’17.
The number of Liva tagged garments witnessed a tenfold increase in the last three years. More than 3000 stores across the country are making Liva tagged garments available to customers.
Grasim Industries belongs to the Aditya Birla Group. Grasim has a strong presence in polyester viscose and polyester wool fabric. The domestic over the counter division operates in the formal menswear fabric market by offering ready-to-stitch suiting and shirting.
The VSF business will continue to focus on expanding the market in India by partnering with the textile value chain, achieving better customer connect through the brand Liva and enriching the product mix through a larger share of specialty fiber.
However, the new capacities likely to come on stream in China may impact global VSF prices in the near term.
