Grasim Industries has incorporated a Joint Venture Company viz. ‘Birla Advanced Knits’ on July 14, 2021 for undertaking Knits manufacturing business in partnership with Century Textiles and Industries (CTIL). The company has also executed a Joint Venture Agreement with CTIL. The company will hold 50% of the paid up equity share capital of the aforesaid Joint Venture Company.
Grasim Industries is the flagship company of the Aditya Birla Group. The company’s businesses comprise viscose staple fibre, cement, chemicals and textiles. Its core businesses are VSF and cement, which contribute to over 90% of its revenues and operating profits.