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Analysts positive on Grasim's prospects due to launch of paints division

Management guidance was that the VSF margin is stable. Even though caustic soda price is down, global prices are likely to bottom soon

Grasim, Paint biz, Paint business
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Devangshu Datta Mumbai

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Although Grasim’s Q3FY24 results were not exceptional, analysts are interested in the stock due to the imminent launch of the paints division. Grasim’s Q3FY24 operating profit was lower than estimates due to higher losses (up Rs 47 crore quarter-on-quarter or Q-o-Q to Rs 90 crore) in the new segments of Birla Pivot and Paints. 

The operating profit for the viscose staple fibre (VSF) and chemical segments was in line. The VSF segment posted an operating profit per kg of Rs 18.7, while the chemical segment had an operating profit margin of 13.2 per cent. A lower tax rate resulted in 47

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