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Grasim Industries (GRASIM) investor relations material

Grasim Industries Q2 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 25/26 earnings summary5 Nov, 2025

Executive summary

  • Trailing 12-month consolidated revenues reached INR 1,59,663 crore, up 8% year-over-year, with Q2FY26 consolidated revenue at ₹39,900 crore, up 17% YoY, and standalone revenue at a record INR 9,610 crore, up 26% YoY.

  • PAT (owner's share) for Q2FY26 was ₹553 crore, up 76% YoY; consolidated net profit for Q2FY26 was ₹1,498.04 crore, up from ₹982.94 crore in Q2FY25.

  • Multi-segment growth driven by strong performance in paints, B2B e-commerce, cement, chemicals, and financial services.

  • Decorative paints business (Birla Opus) achieved double-digit market share and became the second-largest by capacity in India.

  • Strategic focus areas include sustainability, capital allocation, and cost leadership, with significant progress in renewables and digital initiatives.

Financial highlights

  • Standalone revenue for Q2FY26 was ₹9,610 crore, up 26% YoY; standalone net profit was ₹804.55 crore.

  • Q2FY26 consolidated revenue: ₹39,900 crore (+17% YoY); EBITDA: ₹5,217 crore (+29% YoY); PAT: ₹553 crore (+76% YoY).

  • Cellulosic fiber segment revenue up 1% YoY to INR 4,149 crore; EBITDA down 29% due to high input costs.

  • Cement sales volume up 6.9% YoY to 33.85 million MT; operating EBITDA/MT up 32% to INR 966.

  • Financial services lending portfolio at INR 1,78,000 crore, up 29% YoY; AUM at INR 5,50,000 crore, up 10%.

Outlook and guidance

  • Decorative paints business targets number two revenue market share and profitability within three years of full-scale operations.

  • B2B e-commerce expected to reach INR 8,500 crore revenue by FY 2027, with potential to achieve this milestone sooner.

  • Cement business targets over 240 million MT capacity by March 2028.

  • All six greenfield paint plants have commenced commercial production, with installed capacity for decorative paints reaching 1,332 MLPA as of October 2025.

Birla Opus CEO exit: impact on growth strategy
Strategy to align paint volume share with capacity?
Birla Pivot: revise FY27 revenue target sooner?
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Frequently asked questions

Grasim Industries Ltd. operates in the business of manufacturing and marketing of fiber (polyester, cotton, and specialty yarns), yarn, pulp, chemicals, textile, fertilizers and insulators. The company also engages in development and application of technology in fields such as biotechnology, petrochemistry etc. Grasim Industries Limited was incorporated in 1947 and is based in Mumbai, India.

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