Birla plans to exit low-margins business in India, abroad
Ruminates sale of its fertiliser business
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