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17	17	Through brownfield expansion and debottlenecking initiatives, the company plan to expand VSF capacity to 788 KTPA from 566 KTPA by FY 2020-21.
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	20	+[[image:GRASIM1.jpg]]
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19	19	== Viscose Filament Yarn ==
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21	21	Grasim is one of India’s major Viscose Filament Yarn (VFY) player. Also known as rayon, VFY is a natural fibre which can be made to resemble silk, cotton and wool in its feel and texture.  Known for its versatility, VFY has superior drape, fluidity and lustre which makes it a popular choice for manufacturing fabrics such as georgettes, crepes and chiffons. Manufactured under the brand name, Raysil (formerly RayOne), by Grasim’s Indian Rayon unit, the VFY comes in a wide range of 600 shades with the flexibility of reproducing any shade to suit customer needs.{{footnote}}https://www.grasim.com/about-us/our-businesses/viscose-filament-yarn{{/footnote}}
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71	71	Its insulators have stood the test of quality and reliability under some of the toughest operating conditions. The ceramic insulators last as long as three decades and composite insulators display a superior operational performance in high pollution & coastal areas. This high operational efficiency and a long life cycle makes them one of the most sought-after products in the industry. It is a preferred partner for major power utilities as well as equipment manufacturers globally. Aditya Birla Insulators is one of the largest exporters of ceramic insulators globally, operating across 58 countries.
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73	73	= Business Overview =
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75	75	== Viscose ==
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201	201	Grasim is incurring capex to increase capacities across its key businesses and is potentially well positioned to leverage the next phase of the economic growth.
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	212	+**Grasim Q3 profit jumps 95% to Rs 359.4 crore, revenue misses estimates **{{footnote}}https://www.moneycontrol.com/news/business/earnings/grasim-q3-profit-jumps-95-to-rs-359-4-crore-revenue-misses-estimates-6504151.html{{/footnote}}
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	214	+**February 12, 2021;  **Grasim Industries, the flagship company of the Aditya Birla Group, registered a 94.6 percent year-on-year growth in standalone profit for the quarter ended December 2020, driven by strong operating performance.
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	216	+Profit increased to Rs 359.4 crore in Q3FY21, from Rs 184.7 crore in the corresponding period despite a significant jump in tax cost to Rs 126.2 crore against Rs 22.2 crore in the same period. A CNBC-TV18 poll has estimated profit at Rs 250 crore
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	218	+But standalone revenue from operations fell 4.8 percent year-on-year to Rs 3,671.8 crore in Q3FY21 due to viscose and chemicals businesses, missing estimates. The CNBC-TV18 poll estimate stood at Rs 4,060 crore.
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	220	+Viscose (pulp, viscose staple fibre and filament yarn) business reported a 2.2 percent year-on-year decline in revenue at Rs 2,145.14 crore and chemicals (caustic soda and allied chemicals) segment registered a 6 percent YoY fall in revenue at Rs 1,280.96 crore, but sequentially both businesses grew by 27.8 percent and 13.8 percent respectively.
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	223	+"The VSF demand In India recovered to pre-COVID-19 levels leading to 28 percent revenue growth sequentially. Consequently, the share of domestic sales in the sales mix grew from 82 percent in Q2FY21 to 91 percent in Q3FY21 and the share of value-added product in the overall sales mix improved to 22 percent in Q3FY21 from 15 percent in Q2FY21," said Grasim in its BSE filing.
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	225	+The viscose business performance has steadily improved since Q1FY21 on the back of robust demand growth led by consumer spending picking up with the onset of festive & wedding season, the company added.
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	227	+Grasim said the domestic caustic-soda business witnessed an upsurge in demand during the quarter, driven by higher usage from textile, alumina and paper industries, recording capacity utilisation levels of 89 percent in Q3FY21, an improvement of 9 percent on a sequential basis.
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	229	+Its standalone earnings before interest, tax, depreciation and amortisation (EBITDA) surged 68.2 percent year-on-year to Rs 645.6 crore and margin spiked 770 bps YoY to 17.6 percent in the quarter ended December 2020.
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	231	+The operating numbers were above analysts' expectations. EBITDA was estimated at Rs 570 crore and margin at 14 percent by the CNBC-TV18 poll.
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	233	+Recently, the board of directors approved a foray into the paints business with an initial capital expenditure of Rs 5,000 crore over the next three years.
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203	203	= References =
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