Grasim Industries Limited – Investor Presentation Summary

Key Operational Highlights

  • Cellulosic Staple Fibre (CSF) sales volume increased 7% YoY with specialty fibre share at 26% vs 24% in Q2FY26
  • CFY sales volumes stood at 11.6 KT, marginally up 2% YoY amid subdued downstream demand
  • Grey cement capacity expanded by 4.6 MTPA to 210.1 MTPA total capacity (India and Overseas)
  • Total cement sales volume grew 12.9% YoY to 38.2 million tons
  • Ready Mix Concrete (RMC) volume grew 23% YoY to 4.65 million m³ with 485 RMC plants (up 77 plants YoY)
  • Paints business volume growth stood at 20% YoY for Q2FY27 and 33% for H1FY27
  • B2B E-commerce platform crossed ₹11,000 Cr annualized revenue run-rate in Q2FY27
  • Financial Services D2C platform ABCD witnessed over 13.2 million customer acquisitions

Segment-wise Performance

Cellulosic Fibres: Revenue grew 29% YoY to ₹5,344 Cr led by volume growth and favorable product mix

Chemicals: Revenue up 15% YoY to ₹2,759 Cr across Caustic, Chlorine Derivatives and Specialty Chemicals

Cement: Revenue stood at ₹23,295 Cr, up 19% YoY mainly led by volume growth of 12.9% YoY

Paints: Revenue stood at ₹1,337 Cr, up 35% YoY (H1FY27 up 50% YoY)

B2B E-commerce: Revenue at ₹2,785 Cr, up 66% YoY led by Building Materials, Metals and Chemicals

Financial Services: Revenue (Ind-AS) stood at ₹13,990 Cr, up 32% YoY across lending, insurance and asset management

Financial Highlights

Consolidated Q2FY27:

  • Revenue: ₹50,105 Cr (up 26% YoY)
  • EBITDA: ₹6,513 Cr (up 25% YoY)
  • EBITDA Margin: 13%
  • PAT (Owner's Share): ₹(234) Cr (includes exceptional items)
  • Adjusted PAT: ₹536 Cr (down 10% YoY)

Standalone Q2FY27:

  • Revenue: ₹12,747 Cr (all-time high, up 33% YoY)
  • EBITDA: ₹4,615 Cr (up 158% YoY)
  • EBITDA Margin: 27%
  • Adjusted PAT: ₹3,132 Cr

Trailing Twelve Months (TTM):

  • Revenue TTM: ₹1,94,234 crore
  • EBITDA TTM: ₹28,816 crore
  • PAT TTM: ₹5,861 crore

Geographical Revenue Split

Not Specified

Balance Sheet Snapshot

As on 30th September 2026 (Consolidated):

  • Net Worth: ₹1,07,040 crore
  • Debt to Equity Ratio: 1.43 times
  • Total Debt to Total Assets: 0.41 times
  • Net Debt*: ₹45,756 crore
  • Net Debt* to TTM EBITDA: 1.59x

As on 30th September 2026 (Standalone):

  • Net Worth: ₹58,688 crore
  • Net Debt / (Surplus): ₹7,316 crore

Capex & Cash Flow Health

Standalone Capex Plan for FY27:

  • Total Planned: ₹3,157 crore
  • H1FY27 Spent: ₹1,022 crore
  • Cellulosic Fibres: ₹1,603 crore planned (₹573 crore spent in H1)
  • Chemicals: ₹843 crore planned (₹243 crore spent in H1)
  • New High Growth Businesses: ₹425 crore planned (₹174 crore spent in H1)
  • Other Businesses: ₹286 crore planned (₹32 crore spent in H1)

Strategic & R&D Initiatives

  • Lyocell capacity expansion: Phase 1 (55K TPA) - procurement delivery nearing completion, ₹420 Cr spent; Phase 2 (110K TPA) - Environmental Clearance application under advanced stage
  • CPVC Project of 50K TPA at Vilayat commissioned in August 2026
  • Epichlorohydrin (ECH) 50K TPA plant at Vilayat commissioned in October 2026
  • Chlorine Integration to reach ~67% by exit of FY27
  • Renewable power capacity share expected to reach 45% by exit of FY27
  • Paints business launched 11 new products across categories

Industry Trends & Business Environment

  • Non-food bank credit growth averaged ~21.4% YoY in Q2FY27 vs ~18.3% in Q1FY27 and ~10.3% in Q2FY26
  • Specialty Chemicals profitability impacted by elevated input prices and softer demand across end-user industries
  • CFY business performance muted due to subdued downstream demand, elevated sulphur cost and continued low-priced imports from China
  • Paints business impacted by seasonally weak quarter, input-cost inflation from middle east crisis, rupee depreciation and competitive intensity

Management Commentary & Growth Outlook

  • Aim to achieve cement capacity of 242.9 MTPA by exit of March 2028
  • Expect to cross double-digit Revenue Market Share (RMS) in paints in H2FY27 based on October 2026 run-rate
  • B2B E-commerce on track to achieve break-even in H2FY27 and aim to cross ₹120 billion revenue for FY27
  • Paints business building strong cultural connect with festivals across India

ESG Updates

  • Renewable Power Capacity increased (percentage not specified)
  • Recycled & Reuse Water to Freshwater Withdrawal improved (percentage not specified)
  • Greentech Environment & Sustainability Award 2026 - Cellulosic Fibres Business, Harihar Unit
  • Golden Peacock Occupational Health & Safety Award 2026 - Paints Business, Mahad Unit
  • CII National Award for Excellence in Energy Management 2026 - Cellulosic Fibres Business, Harihar Unit
  • Pollution Control Excellence Award Industry Category 2026 - Chemical business, Ganjam Unit