GRASIM
Grasim Inds share price & financials
- Price
- ₹3,149.5
- Market cap
- ₹2.2L Cr
- Sector
- Construction Materials
- Calls analysed
- 9
Grasim Inds Q1 FY27
What went well
- Consolidated revenues of ₹48,716 crores, up 21% YoY, marking the 24th consecutive quarter of Y-on-Y revenue growth.
- Standalone revenues grew 28% YoY to ₹11,795 crores, with EBITDA more than doubling (107% growth) to ₹1,094 crores.
- Birla Opus Paints achieved ₹1,661 crores in revenue, a 64% YoY increase, and gained 30 basis points in market share sequentially.
What to watch
- Birla Opus absorbed a "genuine and unprecedented raw material cost shock" in Q1 FY27, leading to phased price increases.
- Birla Pivot's revenue growth was affected by the Middle East crisis, causing commodity market volatility and customer inventory optimization.
What Grasim Inds does
Grasim Industries is the flagship company of the Aditya Birla Group and a diversified manufacturer whose own operations centre on cellulosic (viscose) fibres and yarn, and chlor-alkali and specialty chemicals. It also runs the newer Birla Opus decorative-paints business and the Birla Pivot B2B building-materials e-commerce platform, and it earns from large listed subsidiaries UltraTech Cement (cement) and Aditya Birla Capital (financial services), alongside insulators and linen textiles. The company positions itself as a proxy play on India's growth across consumption, infrastructure, chemicals and financialisation.
Segments
- Cellulosic Fibres
- Chemicals
- Building Materials
- Financial Services
- Others
- Grey cement capacity (via UltraTech)
- 200+ MTPA; world's largest cement producer outside China
- Chlor-alkali (caustic soda) capacity
- 1,505 KTPA; market leader in India
- Specialty chemicals capacity
- 246 KTPA; India's largest producer of epoxy polymers & curing agents
- Chlorine derivatives capacity
- 996 KTPA
- Birla Opus paints installed capacity
- 1,332 MLPA (~24% of India's decorative-paints industry capacity)
- Birla Opus dealer & town reach
- 50,000+ dealers billed across 11,500+ towns, served via 146 depots
Guidance record · Q1 FY27
what the last two calls moved 20 tracked 4 delivered 5 missed 11 open- Birla Opus Market Share Exit FY25 delivered said Q4 FY24 Promised: High single-digit market share by March 2025 Q1 FY27: Target achieved in prior fiscal year.
- Chemicals Renewable Energy Share went quiet said Q2 FY26 Promised: 40% in the next three years Q1 FY27: Not mentioned. Management was evasive on details related to the broader AB Renewables venture.
- Birla Opus Volume Growth revised up said Q4 FY26 Promised: High double-digit growth in FY27 Q1 FY27: Management provided more specific guidance of 'over 50% revenue' growth for FY27, an upgrade from 'high double-digit'.
All 20 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 21.4%, net profit up 38.8% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 34,223 | 35,378 | 44,267 | 40,118 | 39,900 +17% | 44,312 +25% | 51,101 +15% | 48,716 +21% |
| EBITDA | 6,026 | 6,804 | 8,750 | 8,822 | 7,671 +27% | 8,870 +30% | 10,874 +24% | 11,152 +26% |
| Net profit | 983 | 1,734 | 2,973 | 2,771 | 1,498 +52% | 2,233 +29% | 3,684 +24% | 3,846 +39% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +17.8% 1Y
1Y: ₹2,785.8 on 10 Sept 2025 → ₹3,281.9. High ₹3,380.5 (10 Aug 2026), low ₹2,531.1 (23 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- −0.4%
- 12 Aug
- Q4 FY26
- +1.2%
- 20 May
- Q2 FY26
- −2.0%
- 31 Oct
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 14.3% a year over 3 years, FY23 to FY26. Operating margin widened to 20.7%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹117.6k Cr | ₹131.0k Cr | ₹148.5k Cr | ₹175.4k Cr |
| Operating profit | ₹21.6k Cr | ₹27.2k Cr | ₹28.3k Cr | ₹36.2k Cr |
| Operating margin | 18.3% | 20.8% | 19.0% | 20.7% |
| Interest | ₹6.0k Cr | ₹9.3k Cr | ₹12.5k Cr | ₹15.1k Cr |
| Depreciation | ₹4.6k Cr | ₹5.0k Cr | ₹6.5k Cr | ₹7.7k Cr |
| Net profit | ₹11.1k Cr | ₹9.9k Cr | ₹7.8k Cr | ₹10.2k Cr |
| Net margin | 9.4% | 7.6% | 5.2% | 5.8% |
| Cash from operations | ₹-12.7k Cr | ₹-10.7k Cr | ₹-17.2k Cr | ₹-17.8k Cr |
| Free cash flow | ₹-24.6k Cr | ₹-30.0k Cr | ₹-33.7k Cr | ₹-33.1k Cr |
| ROCE | 10.0% | 9.0% | 8.0% | 8.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹132 Cr | ₹132 Cr | ₹132 Cr | ₹133 Cr | ₹136 Cr | ₹136 Cr |
| Reserves | ₹65.4k Cr | ₹75.6k Cr | ₹78.6k Cr | ₹88.5k Cr | ₹99.5k Cr | ₹103.3k Cr |
| Borrowings | ₹79.1k Cr | ₹74.7k Cr | ₹103.0k Cr | ₹137.2k Cr | ₹205.4k Cr | ₹227.9k Cr |
| Other liabilities | ₹122.8k Cr | ₹138.7k Cr | ₹155.0k Cr | ₹186.3k Cr | ₹225.1k Cr | ₹237.8k Cr |
| Total liabilities | ₹267.3k Cr | ₹289.1k Cr | ₹336.8k Cr | ₹412.1k Cr | ₹530.1k Cr | ₹569.1k Cr |
| Fixed assets | ₹85.0k Cr | ₹89.0k Cr | ₹94.9k Cr | ₹100.5k Cr | ₹145.0k Cr | ₹149.5k Cr |
| Capital work in progress | ₹5.8k Cr | ₹6.6k Cr | ₹7.8k Cr | ₹18.4k Cr | ₹14.3k Cr | ₹16.5k Cr |
| Investments | ₹88.0k Cr | ₹96.8k Cr | ₹105.4k Cr | ₹129.3k Cr | ₹107.9k Cr | ₹155.0k Cr |
| Other assets | ₹88.5k Cr | ₹96.8k Cr | ₹128.8k Cr | ₹164.0k Cr | ₹262.8k Cr | ₹248.2k Cr |
| Total assets | ₹267.3k Cr | ₹289.1k Cr | ₹336.8k Cr | ₹412.1k Cr | ₹530.1k Cr | ₹569.1k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, DIIs trimmed −1.78 pp while FIIs added +0.84 pp. The shareholder count shrank 3% to 2,41,017.
- Promoters
- 43.7%
- FIIs
- 14.6%
- DIIs
- 16.1%
- Public
- 25.1%
- Others
- 0.3%
Since Jun 2025
- DIIs −1.78 pp
- FIIs +0.84 pp
- Promoters +0.62 pp
How it drifted, 12 quarters
Over this window the public fell from 27.8% to 25.1% — −2.6 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 42.8%, FIIs 12.2%, DIIs 16.9%, Public 27.8%, Others 0.3%.Dec '23: Promoters 42.8%, FIIs 12.5%, DIIs 16.7%, Public 27.7%, Others 0.3%.Mar '24: Promoters 43.0%, FIIs 12.7%, DIIs 16.7%, Public 27.2%, Others 0.3%.Jun '24: Promoters 43.0%, FIIs 13.7%, DIIs 16.7%, Public 26.3%, Others 0.3%.Sep '24: Promoters 43.1%, FIIs 13.8%, DIIs 17.8%, Public 25.0%, Others 0.3%.Dec '24: Promoters 43.1%, FIIs 13.5%, DIIs 17.9%, Public 25.2%, Others 0.3%.Mar '25: Promoters 43.1%, FIIs 13.4%, DIIs 18.2%, Public 24.9%, Others 0.3%.Jun '25: Promoters 43.1%, FIIs 13.8%, DIIs 17.9%, Public 24.9%, Others 0.3%.Sep '25: Promoters 43.1%, FIIs 14.4%, DIIs 17.3%, Public 24.9%, Others 0.3%.Dec '25: Promoters 43.2%, FIIs 14.5%, DIIs 17.0%, Public 24.9%, Others 0.4%.Mar '26: Promoters 43.7%, FIIs 14.9%, DIIs 16.3%, Public 24.8%, Others 0.3%.Jun '26: Promoters 43.7%, FIIs 14.6%, DIIs 16.1%, Public 25.1%, Others 0.3%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- NPS Trust A/c UTI Pension Fund Limited-Scheme Stat Pension / PF newly disclosed 1.44% held
- ICICI Prudential Nifty ETF Mutual fund newly disclosed 1.01% held
- Citibank N.A. New York, NYADR Department +0.25 pp 2.53% held
- SBI Nifty 50 ETF Mutual fund +0.11 pp 1.60% held
The same filing shows 1 holder trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Grasim Inds above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Birla Group Holdings Private Limited | 23.18% | unchanged |
| Igh Holdings Private Limited | 6.64% | unchanged |
| Life Insurance Corporation Of India Insurer | 6.59% | unchanged |
| Pilani Investment and Industries | 4.46% | unchanged |
| Hindalco Industries Limited | 4.29% | unchanged |
| PT Indo Bharat Rayon | 2.94% | unchanged |
| Citibank N.A. New York, NYADR Department | 2.53% | +0.25 pp |
| SBI Nifty 50 ETF Mutual fund | 1.60% | +0.11 pp |
| Gagandeep Credit Capital Pvt Ltd | 1.46% | unchanged |
| NPS Trust A/c UTI Pension Fund Limited-Scheme Stat Pension / PF | 1.44% | newly disclosed |
| Shamyak Investment Private Limited | 1.43% | unchanged |
| Theleme Master Fund Limited FPI fund | 1.17% | −0.10 pp |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in GRASIM
Filings to Aug 2026
0 new, 12 added, 9 trimmed, 0 sold out — net −8.18 L shares (−5.1%).
- Held by funds
- ₹5.1k Cr
- 29 schemes
- Biggest holder
- SBI Nifty 50 ETF
- ₹2.5k Cr · 1.1% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Nifty 50 ETF SBI Mutual Fund | ₹2.5k Cr | +0.38 L | Aug '21 |
| Nippon India ETF Nifty 50 BeES Nippon India Mutual Fund | ₹774 Cr | +0.46 L | Jan '19 |
| HDFC Arbitrage Fund HDFC Mutual Fund | ₹424 Cr | −2.32 L | Jul '24 |
| SBI Contra Fund SBI Mutual Fund | ₹376 Cr | held | Jan '24 |
| SBI MultiCap Fund SBI Mutual Fund | ₹236 Cr | held | May '26 |
| SBI Nifty Index Fund SBI Mutual Fund | ₹161 Cr | +0.02 L | Aug '21 |
| SBI Balanced Advantage Fund SBI Mutual Fund | ₹127 Cr | held | Nov '24 |
| SBI Arbitrage Fund SBI Mutual Fund | ₹109 Cr | −0.78 L | Aug '21 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
12 added, 9 trimmed — net −8.18 L shares (−5.1%)
- Funds are sitting on
- +52%
- vs est. average cost
- Held by funds
- ₹5.1k Cr
- 29 schemes · ≈ 2.2% of the company
- Biggest holder
- SBI Nifty 50 ETF
- ₹2.5k Cr · 1.1% of that fund
- Longest holder
- Nippon India Conservative Hybrid Fund
- 9y 11m · since Oct '16
Shares held by these funds +40%
Aug '23 1.58 cr shares Jul '26
All earnings calls (8)
Read the Q1 FY27 call →Learn to analyse Grasim Inds
Guides on how to read this kind of business and the numbers that matter.