Grasim Industries (GRASIM) Q4 25/26 earnings summary

Executive summary

• FY26 marked a transformative year with record consolidated revenue of ₹1,75,431 crore, an 18% CAGR since FY21, and highest-ever quarterly revenue of ₹51,101 crore in Q4FY26, up 15% YoY, driven by robust performance across all business segments.

• EBITDA reached an all-time high of ₹25,872 crore for FY26, up 29% YoY, with Q4FY26 EBITDA at ₹8,011 crore, up 22% YoY, reflecting scale, efficiency gains, and improved profitability.

• Adjusted PAT for FY26 stood at ₹5,203 crore, up 33% YoY; Q4FY26 Adjusted PAT was ₹2,041 crore, up 31% YoY.

• Audited standalone and consolidated financial results for FY26 were approved, with a recommended dividend of ₹10 per equity share, subject to shareholder approval at the AGM.

• Strategic focus on leadership in manufacturing, consumer, digital, and financial services, with strong expansion in paints and B2B e-commerce.

Financial highlights

• Standalone revenue for FY26 was ₹41,039 crore, up 30% YoY; standalone EBITDA at ₹3,558 crore, up 25% YoY.

• Consolidated net profit for FY26 was ₹10,300.29 crore, up from ₹7,756.33 crore in FY25.

• Birla Opus (paints) revenue doubled YoY, with 100% growth in FY26 vs FY25.

• B2B e-commerce revenue more than doubled YoY in Q4FY26, nearing INR 8,500 crore annual guidance.

• Cellulosic Fibre segment Q4 revenue at ₹4,614 crore, up 14% YoY; full-year revenue at ₹17,104 crore, up 8%.

Outlook and guidance

• Paints industry expected to shift from single-digit to double-digit growth in FY27.

• Birla Opus targets ₹10,000 crore profitable revenue in its third year of full-scale operations.

• Birla Pivot aims for EBITDA breakeven by FY27, possibly sooner.

• Cement capacity to reach 240+ MTPA by March 2028; ongoing expansions in cellulosic fibres, chemicals, and paints, with Lyocell phase 1 commissioning by mid-2027.

• Dividend of ₹10 per share recommended for FY26, subject to AGM approval.