On 1 September 2022, Birla Corporation permanently closed the manufacturing establishment at its unit named Auto Trim Division, Gurgaon. Per the company’s statement, there is no binding agreement entered for the sale of the Unit-Auto Trim Division, Gurgaon. During the financial year 2021-22, the unit had contributed Rs 6 lakhs income amounting to 0.06 per cent of the total income. Also, the unit contributed Rs 18.32 lakh to the overall net worth.

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“No production activity has been carried out in the said Unit since November 2007. Hence it has been decided to close the same. The said closure does not have any material adverse effect on the company’s operations, Birla Corporation said in a statement.

BMP Birla Group has interests in cement and jute. The consolidated net profit of Birla Group has declined 56.24 per cent to Rs 61.92 crore. Net sales of the company rose 25.99 per cent to Rs 2,203.76 crore in the first quarter of FY23 over the first quarter of FY22. On Thursday, the scrip had advanced at 0.44 per cent to end at Rs 975.60 on BSE.