Grasim Industries Q2 Results 2024:Grasim Industries declared their Q2 results on 14 Nov, 2024, revealing a challenging quarter for the company. The topline increased by 11.06% year-on-year, yet profit took a significant hit, decreasing by 66.5% compared to the previous year. The company’s profit stood at ₹389.9 crore with revenue reported at ₹33,562.85 crore.
In comparison to the previous quarter, Grasim faced a slight decline in revenue by 0.88% and a more substantial drop in profit by 67.72%. This downturn raised concerns among analysts and investors alike, particularly in light of the ongoing economic pressures.
The company’s selling, general, and administrative expenses saw a decline of 5.96% quarter-on-quarter, although they increased by 7.34% year-on-year. This contradiction highlights the challenges Grasim faces in managing costs effectively amidst fluctuating revenue.
Operating income for the quarter was down by 17.35% quarter-on-quarter and decreased by 7.69% year-on-year, indicating a trend that may necessitate strategic adjustments in the company’s operations.
The earnings per share (EPS) for Q2 was reported at ₹6.54, reflecting a significant decrease of 62.93% year-on-year. This drop in EPS could further dampen investor sentiment and affect share performance in the near term.
In the last week, Grasim Industries has delivered a -1.51% return, while the stock has seen a 6.38% return over the past six months and an 18.7% return year-to-date. This performance suggests volatility in the stock’s price, which may concern potential investors.
Currently, Grasim Industries boasts a market capitalization of ₹169,191.7 crore, with a 52-week high of ₹2877.75 and a low of ₹1906.27. These figures indicate the stock’s range over the past year but may also reflect the volatility in market conditions.
Among the eight analysts covering Grasim, the outlook is mixed: 1 analyst has issued a Sell rating, 3 have given a Hold rating, and 4 analysts have assigned a Strong Buy rating. This range of assessments underscores the uncertainty surrounding the company’s future performance amidst the recent financial results.
Grasim Industries Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 33562.85 | 33860.75 | -0.88% | 30220.68 | +11.06% |
| Selling/ General/ Admin Expenses Total | 8150.31 | 8667.11 | -5.96% | 7593.28 | +7.34% |
| Depreciation/ Amortization | 1495.8 | 1367.73 | +9.36% | 1245.15 | +20.13% |
| Total Operating Expense | 29125.05 | 28491.45 | +2.22% | 25413.15 | +14.61% |
| Operating Income | 4437.8 | 5369.3 | -17.35% | 4807.53 | -7.69% |
| Net Income Before Taxes | 1967.63 | 2976.17 | -33.89% | 2861.72 | -31.24% |
| Net Income | 389.9 | 1207.93 | -67.72% | 1163.75 | -66.5% |
| Diluted Normalized EPS | 6.54 | 17.76 | -63.18% | 17.64 | -62.93% |
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