Aditya Birla flagship spanning viscose fibre, chlor-alkali chemicals, paints, cement and financial services.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 11,795 | +27.9% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 8.0 | +3.8 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 247 | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. | |
| Return on equity | 5.71 | +1.0 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | -18.88 | +3.8 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 19.51 | +4.8 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Guidance
4 of 9 judged targets kept · 11 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Birla Opus Market Share Exit FY25 | High single-digit market share by March 2025 | Q4 FY24 | Target achieved in prior fiscal year. | Achieved |
| Chemicals Renewable Energy Share | 40% in the next three years | Q2 FY26 | Not mentioned. Management was evasive on details related to the broader AB Renewables venture. | Ghosted |
| Birla Opus Volume Growth | High double-digit growth in FY27 | Q4 FY26 | Management provided more specific guidance of 'over 50% revenue' growth for FY27, an upgrade from 'high double-digit'. | Revised Up |
5 of Grasim Inds's 20 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 17 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: ₹2,841.3 on 24 Oct 2025 → ₹2,900.8. High ₹3,380.5 (10 Aug 2026), low ₹2,531.1 (23 Mar 2026).
Overview
Based on the company's own presentations, annual report and earnings calls.
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
close before → close after
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.
Guidance
4 of 9 judged targets kept · 11 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Birla Opus Market Share Exit FY25 | High single-digit market share by March 2025 | Q4 FY24 | Target achieved in prior fiscal year. | Achieved |
| Chemicals Renewable Energy Share | 40% in the next three years | Q2 FY26 | Not mentioned. Management was evasive on details related to the broader AB Renewables venture. | Ghosted |
| Birla Opus Volume Growth | High double-digit growth in FY27 | Q4 FY26 | Management provided more specific guidance of 'over 50% revenue' growth for FY27, an upgrade from 'high double-digit'. | Revised Up |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 20 tracked commitments, with each call’s wording and source.
Call summaries
Grasim Inds Q1 FY27
Grasim Industries reported a strong Q1 FY27, achieving record revenues and significant standalone EBITDA growth, driven by robust performance across its core businesses and new ventures like Birla Opus Paints and Birla Pivot. Despite raw material cost pressures and market volatility, the company demonstrated consistent growth and improved its leverage profile, while continuing strategic investments and capacity expansions.
Read the full callGrasim Inds Q4 FY26
Grasim Industries reported a landmark Q4 FY26, driven by strong growth in its new businesses, Birla Opus Paints and Birla Pivot B2B e-commerce, which saw revenues double. The company's core businesses like Cement and Cellulosic Fibers also performed robustly, with UltraTech achieving record EBITDA/ton and Cellulosic Fibers doubling Q4 EBITDA. However, significant raw material cost inflation and demand uncertainty in paints pose challenges, which management is addressing through strategic pricing and market share focus.
Read the full callGrasim Inds Q2 FY26
Grasim Industries reported a strong Q2 FY26 with standalone revenue up 26% YoY to ₹9,610 crores, driven by robust performance in Cement and new growth businesses like Birla Opus Paints and Birla Pivot B2B e-commerce. While Cellulosic Fibers and Chemicals faced headwinds from input costs and softening prices, the company maintained its strategic growth trajectory. Net debt reduced by ₹292 crores, and the paints business achieved significant capacity and brand recognition milestones.
Read the full callEvery analysed call
Fundamentals
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
Net profit, year on year: +309% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 7,623 | 8,120 | 8,926 | 9,223 | 9,610 | 10,432 | 11,774 | 11,795 |
| Expenses | 7,298 | 7,850 | 8,705 | 8,839 | 9,244 | 9,953 | 11,234 | 10,845 |
| Operating profit | 325 | 271 | 221 | 385 | 366 | 479 | 540 | 950 |
| Operating margin | 4.3% | 3.3% | 2.5% | 4.2% | 3.8% | 4.6% | 4.6% | 8.0% |
| Other income | 1,244 | 102 | 113 | 144 | 1,419 | 58 | 37 | 144 |
| Interest | 161 | 181 | 201 | 206 | 203 | 239 | 246 | 269 |
| Depreciation | 406 | 421 | 501 | 478 | 502 | 539 | 571 | 527 |
| Profit before tax | 1,002 | -230 | -368 | -156 | 1,081 | -241 | -240 | 298 |
| Tax rate | 28.0% | −27.0% | −22.0% | −24.0% | 26.0% | −27.0% | −32.0% | 17.0% |
| Net profit | 721 | -169 | -288 | -118 | 805 | -174 | -164 | 247 |
| EPS (₹ per share) | 10.95 | -2.56 | -4.23 | -1.74 | 11.82 | -2.56 | -2.40 | 3.62 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 1,17,628 | 25,848 | 31,563 | 41,039 |
| Expenses | 96,060 | 23,531 | 30,422 | 39,270 |
| Operating profit | 21,568 | 2,316 | 1,142 | 1,770 |
| Other income | 3,755 | 541 | 1,552 | 1,658 |
| Interest | 6,043 | 441 | 683 | 894 |
| Depreciation | 4,551 | 1,215 | 1,677 | 2,090 |
| Profit before tax | 14,727 | 1,202 | 334 | 444 |
| Net profit | 11,079 | 945 | 212 | 349 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 132 | 132 | 133 | 136 | 136 | 136 |
| Reserves | 48,484 | 46,823 | 51,982 | 54,262 | 99,482 | 55,141 |
| Borrowings | 4,384 | 5,352 | 9,729 | 11,863 | 2,05,403 | 12,490 |
| Other liabilities | 9,636 | 9,871 | 12,294 | 11,720 | 2,25,081 | 13,265 |
| Total liabilities | 62,636 | 62,177 | 74,138 | 77,981 | 5,30,102 | 81,032 |
| Fixed assets | 14,858 | 16,220 | 17,105 | 23,730 | 1,45,019 | 24,702 |
| Capital work in progress | 1,743 | 2,926 | 7,131 | 2,785 | 14,333 | 1,795 |
| Investments | 38,691 | 33,897 | 39,212 | 39,635 | 1,07,901 | 42,114 |
| Other assets | 7,345 | 9,135 | 10,689 | 11,830 | 2,62,848 | 12,421 |
| Total assets | 62,636 | 62,177 | 74,138 | 77,981 | 5,30,102 | 81,032 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 2,402 | 2,656 | 2,319 | 1,778 | -25 | 2,681 |
| Cash from investing | -875 | -1,896 | -2,190 | -5,586 | -2,883 | -1,524 |
| Cash from financing | -1,509 | -777 | -165 | 3,840 | 2,896 | -1,179 |
| Net cash flow | 18 | -17 | -36 | 32 | -13 | -22 |
| Free cash flow | 1,219 | 125 | -1,693 | -3,728 | -3,852 | 605 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 39 | 30 | 22 | 28 | 30 | 29 |
| Inventory days | 143 | 153 | 127 | 141 | 121 | 80 |
| Days payable | 174 | 180 | 133 | 148 | 97 | 84 |
| Cash conversion cycle | 8 | 2 | 16 | 21 | 54 | 24 |
| Working capital days | -65 | -42 | -28 | -37 | -11 | -10 |
| Return on capital employed | 2.0% | 6.0% | 6.0% | 4.0% | 2.0% | 2.0% |
| Dividend payout | 65.0% | 22.0% | 31.0% | 70.0% | 321.0% | 195.0% |
The businesses behind the company’s reported revenue.
Building Material contributes 58.5% of reported segment revenue.
Quarter ended 30 Jun 2026 · Consolidated
₹28,835.40 crore
₹12,154.67 crore
₹4,530.25 crore
₹2,639.92 crore
₹1,126.15 crore
| Business segment | Revenue · ₹ crore | Share |
|---|---|---|
| Building Material | 28,835.40 | 58.5% |
| Financial Services | 12,154.67 | 24.7% |
| Cellulosic Fibres | 4,530.25 | 9.2% |
| Chemicals | 2,639.92 | 5.4% |
| Others | 1,126.15 | 2.3% |
Share = segment revenue ÷ total segment revenue, before intersegment adjustments.
Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.
Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.
Building Material grew from 49% to 59% of revenue over the last two years.
| Segment | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Building Material | 49% | 53% | 56% | 59% | 55% | 56% | 58% | 59% | +21.5% |
| Financial Services | 30% | 27% | 27% | 23% | 26% | 27% | 26% | 25% | +28.1% |
| Cellulosic Fibres | 12% | 11% | 9% | 10% | 10% | 10% | 9% | 9% | +12.0% |
| Chemicals | 6% | 6% | 5% | 6% | 6% | 5% | 5% | 5% | +10.4% |
| Others | 2% | 2% | 2% | 2% | 2% | 2% | — | 2% | +30.2% |
Share of reported segment revenue by quarter, consolidated basis, as filed. A quarter the company did not report is left blank, never carried forward.
See how segments are shifting across companies → Segment Shift
Ownership
Promoters hold 45.20% as of Sept 2026; institutions cut 1.01 pts since Jun 2026.
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
The same filing shows 4 holders trimming and 2 off the list — both are in the register beside this.
Named in the Sep 2026 filing
Every holder of Grasim Inds above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 23.18% | unchanged | |
| 6.64% | unchanged | |
| Insurer | 6.53% | −0.06 pp |
| 5.92% | +1.46 pp | |
| 4.29% | unchanged | |
| 2.94% | unchanged | |
| 2.58% | +0.05 pp | |
| 1.49% | newly disclosed | |
| Pension / PF | 1.47% | unchanged |
| 1.41% | −0.05 pp | |
| 1.32% | −0.11 pp | |
| FPI fund | 1.05% | −0.12 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.
Filings to Sep 2026
1 new, 7 added, 16 trimmed, 1 sold out — net −10.25 L shares (−7.0%).
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Nifty 50 ETF SBI Mutual Fund | ₹2.2k Cr | +0.01 L | Aug '21 |
| Nippon India ETF Nifty 50 BeES Nippon India Mutual Fund | ₹719 Cr | +0.53 L | Jan '19 |
| SBI Contra Fund SBI Mutual Fund | ₹342 Cr | held | Jan '24 |
| SBI MultiCap Fund SBI Mutual Fund | ₹214 Cr | held | May '26 |
| SBI Nifty Index Fund SBI Mutual Fund | ₹146 Cr | −0.00 L | Aug '21 |
| SBI Balanced Advantage Fund SBI Mutual Fund | ₹116 Cr | held | Nov '24 |
| Nippon India Value Fund Nippon India Mutual Fund | ₹73 Cr | held | Sep '23 |
| Nippon India Multi Asset Allocation Fund Nippon India Mutual Fund | ₹55 Cr | held | Dec '23 |
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 Sep 2026
7 added, 16 trimmed — net −10.25 L shares (−7.0%)
Shares held by these funds +15%
Oct '23 1.37 cr shares Sep '26
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