Grasim Industries in focus after minor safety incident leads to suspension of operations at Karwar plant

Grasim Industries shares will be in focus on Monday, January 13, after the company informed the stock exchanges, a day prior, of a “minor process safety incident” at its Karwar plant in Karnataka.

The incident occurred on Saturday, January 11, 2025 due to power tripping led technical malfunction. The affected workers were treated at a local hospital and are expected to make a full recovery, the company said.

“Immediately all the emergency protocol services were initiated. The plant operations have been suspended, pending internal investigation, and expected to resume operations once cleared by the concerned regulatory authorities,” Grasim Industries said.

It added that it does not anticipate any material impact on the financials of the company due to the mentioned incident.

Last month

, the company approved a non-convertible debentures (NCDs) issue to raise ₹2,000 crore on a private placement basis.

The Aditya Birla Group flagship holding firm reported a 45.64% decline in consolidated net profit at ₹1,100.16 crore in the second quarter ended September 2024, impacted by lower profitability by its cement business and higher interest and depreciation charges on account of investments in renewables business.

The company had posted a net profit of ₹2,024.05 crore during the July-September quarter a year ago, according to a regulatory filing by Grasim Industries, which is the holding firm for group companies such as UltraTech, Aditya Birla Capital and Aditya Birla Renewables.

Its revenue from operations was up 11.05% to ₹33,562.85 crore during the quarter under review. It was at ₹30,220.68 crore in the corresponding period of the previous fiscal.

Shares of Grasim Industries ended 2.01% lower at ₹2,362 apiece on Friday, January 10. The stock has fallen 15.75% in the last six months but has gained 12.42% in the past year.

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