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Birla plans to exit low-margins business in India, abroad

Ruminates sale of its fertiliser business

Dev Chatterjee  |  Mumbai 

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The Aditya Birla Group is planning to exit low margins business in India and abroad, as part of its plan to reorganise its activities, post-merger of its two holding companies - Grasim and Aditya Birla Nuvo. As part of its strategem, the group has identified the sale of its fertiliser business that had earned it ~2,498-crore of revenue in FY16.

The business is currently operated by Indo Gulf Fertilisers, a subsidiary of Aditya Birla Nuvo. According to a banking source, the process to sell the fertiliser business has been initiated; the sale would be complete by the next ...

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First Published: Tue, August 30 2016. 00:45 IST