Grasim Industries Ltd logo

Grasim Industries Ltd

GRASIM NSE

Key Fundamentals

LargecapCementConstruction
Market Cap
2.2L Cr
Volatility
Moderate
P/E Ratio
39.26
EBITDA
₹37,476 Cr
Return on Equity
6.06%
Debt to Equity
2.2
Book Value
₹1,530.51
EPS
₹85.43
52W High
₹3,411.1
52W Low
₹2,502.5

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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48 extracted metrics + investor summaries across FY12–FY27.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Weaknesses

2
  • Company has a low return on equity of 5.21% over last 3 years.
  • Dividend payout has been low at 14.6% of profits over last 3 years

Growth Rate

Revenue Growth
17.79% ↗
Net Income Growth
32.80% ↗
Cash Flow Change
-3.73% ↘
ROE
23.42% ↗
ROCE
10.77% ↗
EBITDA Margin (Avg.)
7.06% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 1h ago
AI opinion · based on fundamentals
Risk medium

Grasim Industries, an Aditya Birla Group flagship with a market cap of ₹2.21 lakh crore, trades at a PE of 19.7x with TTM sales growth of 20% and profit growth of 40%, but carries a low 3-year ROE of approximately 5% and a dividend payout of just 14.6% of profits.

Bull Case 8
  • Strong TTM revenue growth of 20%, indicating robust demand across its diversified business segments including cement (via UltraTech), chemicals, and the new paints vertical
  • TTM profit growth of 40% signals significant operating leverage and margin expansion in the most recent period
  • 10-year compounded sales CAGR of 18% demonstrates consistent long-term revenue scaling ability
  • Stock price CAGR of 22% over 3 years and 17% over 5 years reflects sustained investor confidence and value creation
  • PE ratio of 19.7x is moderate for a diversified conglomerate with exposure to high-growth construction and building materials sectors
  • Price-to-book of 2.13x suggests the market is not excessively pricing in future growth relative to the asset base
  • Entry into the decorative paints business opens a large addressable market estimated at ₹70,000+ crore, diversifying revenue streams beyond legacy businesses
  • 5-year compounded sales growth of 18% aligns with the 10-year trend, showing no deceleration in topline momentum
Bear Case 8
  • 3-year ROE of only 5% is notably low for a company of this scale, indicating suboptimal capital efficiency
  • 3-year compounded profit CAGR of -10% shows earnings actually contracted over this period despite revenue growth, pointing to margin pressure or heavy investment costs
  • Dividend payout of just 14.6% of profits over 3 years and a yield of 0.31% offers minimal income return to shareholders
  • 5-year compounded profit growth of only 2% versus 18% sales growth suggests persistent cost headwinds or dilutive capital allocation
  • Last year ROE of 5% shows no improvement over the 3-year average of 5%, indicating capital efficiency has not recovered
  • Heavy capex for the new paints business (estimated ₹10,000+ crore investment) is yet to generate meaningful returns and weighs on near-term profitability metrics
  • 10-year profit CAGR of 8% significantly lags the 10-year sales CAGR of 18%, highlighting a long-term pattern of revenue growth not fully translating to bottom-line
  • 1-year stock price CAGR of 18% already prices in much of the recent operational improvement, leaving limited margin of safety if growth disappoints

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 1h ago
Positives 4
  • Q1FY27 profit surges 51% YoY Aug 13

    Standalone net profit rose 51% YoY to ₹2,146 crore on 21% revenue growth to ₹48,716 crore. Consolidated profit hit ₹3,846 crore, up 39% YoY, driven by building materials and financial services.

  • CPVC resin plant goes live Aug 11

    Grasim commenced commercial production at its 50,000 MT CPVC resin plant in Gujarat with Lubrizol, strengthening domestic chlor-alkali integration.

  • Supreme Court nullifies ₹3B CCI fine Jul 31

    The Supreme Court upheld NCLAT's order setting aside CCI's Rs 3 billion penalty against Grasim, eliminating a significant contingent liability.

  • ₹235 crore renewables infusion Jul 28

    Board approved preferential equity infusion of up to ₹234.99 crore in Aditya Birla Renewables, raising Grasim's stake to 73.76%.

Neutral 7
  • Targets net debt-to-EBITDA below 2 Aug 13

    Management guided for consolidated net debt-to-EBITDA below 2x for FY27. Birla Opus targets ₹10,000 crore revenue by FY28; Birla Pivot aims for EBITDA breakeven by FY27-end.

  • Chlorine derivatives capacity expansion Aug 12

    Plans to expand chlorine derivatives to 1,130 Ktpa and caustic soda to 1,530 KTPA by FY27-end, targeting 68% chlorine integration and 45% renewable power share.

  • ₹1,500 crore CP repayments completed Aug 6

    Grasim fully repaid commercial papers totalling ₹1,500 crore across two tranches maturing on Jul 28 and Aug 6, 2026.

  • Block trade at ₹3,362/share Aug 10

    Approximately 50,611 shares changed hands at ₹3,362 per share in a ₹17.02 crore institutional block deal on the NSE.

  • Domsjo Fabriker awareness letter issued Aug 6

    Grasim issued a letter of awareness for JV subsidiary Domsjo Fabriker AB regarding USD 39 million credit facilities, with no financial guarantee from Grasim.

  • Q1FY27 earnings call and investor meets Aug 12

    Earnings call held on Aug 12 at 5 PM IST; additional analyst and institutional investor meetings scheduled throughout August 2026.

  • BRSR filed for FY 2025-26 Jul 19

    Grasim filed its Business Responsibility and Sustainability Report for FY 2025-26, detailing ESG performance across operations.

TL;DR: Grasim delivered a strong Q1FY27 with 51% standalone profit growth and improving debt metrics, while new capacity (CPVC resin, chlorine derivatives) strengthens its chemicals value chain. The CCI fine elimination removes a key overhang. No material headwinds emerged in the recent news cycle. The trend is clearly improving, with multiple growth levers — paints (Birla Opus), chemicals expansion, and renewables — set to scale through FY27-28.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
31,065
30,221
31,965
37,727
34,610
34,223
35,378
44,267
40,118
39,900
44,312
51,101
48,716
Expenses
24,708
24,173
25,073
29,835
27,927
28,197
28,575
35,517
31,296
32,228
35,442
40,227
37,565
Operating Profit
6,357
6,048
6,893
7,892
6,682
6,026
6,804
8,750
8,822
7,671
8,870
10,874
11,152
OPM %
20%
20%
22%
21%
19%
18%
19%
20%
22%
19%
20%
21%
23%
Other Income
296
285
256
-48
247
403
382
485
376
406
65
143
318
Interest
2,032
2,226
2,433
2,586
2,795
3,027
3,270
3,407
3,551
3,669
3,909
4,015
4,298
Depreciation
1,183
1,245
1,244
1,329
1,443
1,572
1,608
1,831
1,810
1,899
1,975
2,042
1,988
PBT
3,438
2,862
3,472
3,928
2,691
1,830
2,308
3,996
3,837
2,510
3,051
4,960
5,183
Tax %
25%
29%
25%
31%
23%
46%
25%
26%
28%
40%
27%
26%
26%
Net Profit
2,576
2,024
2,603
2,722
2,066
983
1,734
2,973
2,771
1,498
2,233
3,684
3,846
EPS in Rs
23.17
17.1
22.25
20.8
16.33
4.78
12.45
21.98
20.87
8.13
15.23
27.86
31.53
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
31,734
34,487
36,068
55,894
77,200
68,252
76,404
95,701
1,17,627
1,30,978
1,48,478
1,75,431
1,84,029
Expenses
26,590
28,576
28,682
44,281
60,560
57,880
57,769
75,270
96,038
1,03,783
1,20,216
1,39,135
1,45,462
Operating Profit
5,144
5,911
7,387
11,612
16,640
10,373
18,635
20,431
21,589
27,195
28,262
36,296
38,567
OPM %
16%
17%
20%
21%
22%
15%
24%
21%
18%
21%
19%
21%
21%
Other Income
530
1,320
1,076
410
-1,846
7,076
1,130
1,648
3,733
783
1,517
1,047
932
Interest
667
718
702
3,663
6,060
6,890
5,723
4,776
6,044
9,277
12,500
15,144
15,891
Depreciation
1,563
1,834
1,808
2,724
3,571
4,004
4,033
4,161
4,552
5,001
6,454
7,726
7,904
PBT
3,443
4,679
5,952
5,635
5,163
6,554
10,009
13,143
14,727
13,700
10,825
14,473
15,704
Tax %
30%
26%
29%
35%
47%
-1%
30%
15%
25%
28%
28%
29%
—
Net Profit
2,582
3,455
4,246
3,688
2,745
6,639
6,987
11,206
11,078
9,926
7,756
10,300
11,261
EPS in Rs
36.75
51.15
65.64
39.43
24.91
64.9
63.3
111
100
85.42
54.46
72.98
82.75
Div. Payout %
9%
9%
8%
15%
27%
6%
14%
9%
10%
12%
18%
14%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
92
93
93
131
132
132
132
132
132
133
136
136
Reserves
23,048
27,336
31,294
57,230
57,888
56,501
65,362
75,567
78,610
88,520
97,373
1,03,334
Borrowings
11,930
12,505
9,213
67,070
84,487
84,777
79,078
74,744
1,03,039
1,37,155
1,86,326
2,27,853
Other Liabilities
18,963
19,642
22,147
83,467
98,620
1,02,772
1,22,777
1,38,706
1,55,042
1,86,309
2,16,206
2,37,811
Total Liabilities
54,033
59,576
62,747
2,07,899
2,41,127
2,44,181
2,67,349
2,89,149
3,36,823
4,12,116
5,00,040
5,69,134
Fixed Assets
31,828
34,271
34,786
69,257
87,129
87,736
85,023
88,996
94,896
1,00,494
1,41,148
1,49,452
CWIP
2,755
1,788
1,297
2,290
2,766
3,904
5,769
6,615
7,778
18,358
14,765
16,465
Investments
7,255
10,601
14,200
65,995
62,747
66,337
88,017
96,766
1,05,355
1,29,306
1,40,496
1,54,982
Other Assets
12,194
12,916
12,464
70,356
88,484
86,204
88,540
96,771
1,28,793
1,63,959
2,03,632
2,48,236
Total Assets
54,033
59,576
62,747
2,07,899
2,41,127
2,44,181
2,67,349
2,89,149
3,36,823
4,12,116
5,00,040
5,69,134
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
4,594
5,868
7,288
-4,140
-1,659
16,620
15,075
7,038
-12,685
-10,719
-17,170
-17,810
Investing
-2,359
-4,515
-3,509
1,546
-2,212
-11,364
-7,146
-1,053
-13,712
-23,114
-23,313
-17,798
Financing
-2,278
-1,365
-3,799
3,449
4,158
-3,418
-8,003
-6,733
26,469
33,908
42,978
33,523
Net Cash Flow
-42
-11
-20
856
287
1,838
-75
-748
72
75
2,495
-2,085
Free Cash Flow
1,315
3,120
5,495
-7,186
-5,667
11,638
11,525
-1,467
-24,610
-30,042
-33,688
-33,130
CFO/OP
95
119
112
-21
1
177
91
49
-49
-30
-52
-42
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
30
32
30
34
32
31
21
21
18
19
23
23
Inventory Days
207
168
163
170
154
179
179
200
180
194
179
130
Days Payable
102
97
117
146
133
172
229
239
216
221
177
152
Cash Conversion Cycle
136
103
76
58
53
38
-29
-18
-17
-7
25
1
Working Capital Days
-44
-56
-19
-95
-47
-84
-103
-88
-75
-91
-105
-81
ROCE %
9%
11%
13%
10%
8%
8%
9%
9%
10%
9%
8%
8%

Shareholding Pattern

As of Jun 2026
Promoters 43.74%
FIIs 17.17%
DIIs 16.13%
Others 12.51%
Public 10.45%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Feb 2024Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
41.83%
42.09%
42.26%
42.54%
42.76%
42.76%
42.75%
42.75%
42.75%
42.75%
42.75%
42.75%
43.06%
43.06%
43.06%
43.11%
43.11%
43.11%
43.11%
43.11%
43.22%
43.74%
43.74%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
16.09%
0.00%
0.00%
16.49%
16.70%
15.83%
15.55%
15.55%
15.94%
16.56%
16.79%
17.18%
17.17%
DIIs
16.76%
15.84%
15.13%
14.46%
14.16%
15.30%
14.86%
16.48%
16.82%
16.84%
16.92%
14.64%
14.70%
16.69%
16.66%
17.75%
17.90%
18.24%
17.91%
17.28%
16.99%
16.28%
16.13%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
11.72%
11.96%
12.13%
12.14%
12.25%
12.31%
11.55%
11.42%
11.40%
11.30%
11.19%
11.14%
11.08%
11.05%
10.89%
10.83%
10.88%
10.68%
10.60%
10.62%
10.54%
10.57%
10.45%
Others
29.69%
30.11%
30.48%
30.86%
30.83%
29.63%
30.85%
29.35%
29.03%
29.11%
13.05%
31.47%
31.16%
12.71%
12.69%
12.48%
12.55%
12.41%
12.44%
12.43%
12.46%
12.23%
12.51%
No. of Shareholders
2,22,901
2,36,831
2,40,282
2,51,422
2,62,650
2,79,520
2,57,355
2,47,065
2,47,265
2,43,265
2,39,780
2,34,446
2,41,375
2,52,317
2,53,671
2,65,202
2,58,955
2,55,169
2,47,628
2,44,718
2,38,208
2,43,799
2,41,017

Documents

1
Concall - May 2017 May 2017
2
Concall - Aug 2017 Aug 2017
3
Concall - Aug 2017 Aug 2017
4
Concall - May 2018 May 2018
5
Concall - Nov 2018 Nov 2018

Frequently Asked Questions about Grasim Industries Ltd

What does Grasim Industries Ltd do?
Grasim Industries Limited is the flagship company of the Aditya Birla group, it ranks amongst India's largest private sector companies. On standalone basis, GIL’s core businesses comprise of viscose Staple fibre (VSF), caustic soda, speciality chemicals, rayon-grade wood pulp (RGWP) with plants a...
Where is Grasim Industries Ltd (GRASIM) listed?
Grasim Industries Ltd is listed on the Indian stock exchanges. It is listed on NSE: GRASIM and BSE: 500300. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Grasim Industries Ltd belong to?
Grasim Industries Ltd operates in the Construction sector within the Cement industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Grasim Industries Ltd?
Grasim Industries Ltd has a market capitalisation of approximately ₹220775.82 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Grasim Industries Ltd?
The Price-to-Earnings (PE) ratio of Grasim Industries Ltd is 39.26. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Grasim Industries Ltd?
Over the past 52 weeks, Grasim Industries Ltd has traded between a low of ₹2,502.5 and a high of ₹3,411.1. This range helps investors understand the stock's price volatility and recent trading levels.
Does Grasim Industries Ltd pay dividends?
Yes, Grasim Industries Ltd has a dividend yield of 0.31%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Grasim Industries Ltd?
Grasim Industries Ltd has a Return on Equity (ROE) of 6.06%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Grasim Industries Ltd on Tapetide?
On Tapetide, you can view Grasim Industries Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Grasim Industries Limited is the flagship company of the Aditya Birla group, it ranks amongst India's largest private sector companies. On standalone basis, GIL’s core businesses comprise of viscose Staple fibre (VSF), caustic soda, speciality chemicals, rayon-grade wood pulp (RGWP) with plants at multiple locations. It also has certain other businesses such as fertiliser, textile, etc. [1]

Website grasim.com
CEO Mr. Himanshu Kapania
Employees 27,327
Listed 1995-05-10
Face Value ₹ 2
Issued Size 68,05,21,734

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