Grasim Industries Limited (GRASIM) share price
₹2856.80 on NSE as of 2026-10-08. -2.20% on the day. market cap ₹194,428 Cr. P/E 34.0. 52-week range ₹2531.10 to ₹3380.50. Construction Materials.
Grasim Industries Q1 FY27: ₹48,716 Cr of Cement, Fibre, Chlorine, Paint and Loans, Up 21%
At a glance
Grasim Industries reported consolidated revenue of ₹48,716 crore for the three months to June 2026. That is 21.4% above the ₹40,118 crore booked in the same quarter a year earlier. It sits 4.7% below the ₹51,101 crore of the three months to March 2026. Operating profit reached ₹11,152 crore, a rise of 26.4% on the year. That is the highest such figure in the last ten quarters of data. Profit attributable to Grasim's own shareholders was ₹2,146 crore, up 51.1%.
In one quarter the group poured cement, spun fibre, tinted paint and wrote home loans. It wrangled chlorine as well. That is close to a full syllabus of Indian industrial economics under one ticker. Management called it the 24th consecutive quarter of growth against the year before, which covers six years.
Total consolidated net profit was ₹3,846 crore. Of that, ₹1,700 crore belongs to minority shareholders of subsidiaries. Minority shareholders own the slices of subsidiaries that the parent company does not. Grasim throws the party, and a large piece of cake leaves with guests from UltraTech's and Aditya Birla Capital's own registers.
Interest for the quarter was ₹4,298 crore. Per the filing, ₹3,379 crore of that was the finance cost of the lending businesses. For a lender, borrowed money is the raw material, as limestone is for a cement kiln. Grasim operates both kinds of factory. Total assets stood at ₹5,69,134 crore at March 2026.
Introduction
The corporate identity number printed on every Grasim letterhead ends in MP1947PLC000410. It marks a public company incorporated in Madhya Pradesh in 1947, the year of independence. The registered office is still in Birlagram, Nagda, and the corporate office sits in Worli, Mumbai. Every results letter goes to the BSE, the NSE, the Luxembourg Stock Exchange and Citibank's depositary desk in New York. It is a disclosure list carrying more stamps than most passports.
The company is the flagship of the Aditya Birla Group. The structure works like a set of Russian dolls with a cement mixer in the middle. Grasim owns 56.11% of UltraTech Cement, on the company's own figure. Per the filing it owns 52.30% of Aditya Birla Capital on a fully diluted basis. Fully diluted counts shares that could still be created from instruments already issued. The same filing puts the holding in Aditya Birla Renewables at 70.15%. Grasim itself also runs fibres, chemicals, paints and textiles. Insulators and a business-to-business e-commerce platform sit beside them.
Recent history, per the filings. In January 2025 the company raised ₹4,000 crore through a rights issue of 2.2 crore shares. A rights issue offers new shares to the holders a company already has. Birla Pivot, the business-to-business arm, launched in 2023. Birla Opus is the paints business, which management says reached its current position in about two years.
Revenue for the year to March 2026 was ₹1,75,431 crore. The company recommended a dividend of ₹10, and UltraTech's cement capacity crossed 200 million tonnes a year. On 31 March 2026 Jayant Dua ceased to be Business Head for Renewables and Textiles. Per the company's disclosure, he was appointed Managing Director (Designate) of UltraTech from 1 April 2026.
Two assessments landed in late August, both scoring environmental, social and governance conduct. Crisil, a ratings agency, assigned a score of 65 for the year to March 2026, up from 61. An independent agency assigned 66, up from 59.
In September the company issued a corporate dossier. The word dossier suggests espionage and turns out to mean the year's highlights with charts. The group had 2,41,017 shareholders at June 2026.
Business model
The short answer is everything a city needs except the people. Building materials brought in ₹28,835 crore in the three months to June 2026. Financial services added ₹12,155 crore. Cellulosic fibres brought ₹4,530 crore and chemicals ₹2,640 crore. Everything else came to ₹1,126 crore.
Building materials has three parts. Cement comes through UltraTech, whose grey cement capacity reached 205.5 million tonnes a year in India and overseas. Some 8.7 million tonnes of that was added during the quarter, and volumes were 41.3 million tonnes. UltraTech also runs 477 ready-mix concrete plants and 5,802 UltraTech Building Solutions outlets. That is a retail chain for a product nobody has ever bought on impulse.
Birla Opus is the paints arm, running six plants with capacity of 1,332 million litres a year. The range covers 228 products across 1,945 stock lines, meaning separately ordered items. That is more shades of off-white than the human eye was designed to separate. Opus sells across more than 12,100 towns, through 147 depots and over 1,450 franchise outlets. Management says it is India's third-largest decorative paints brand by revenue and second-largest by installed capacity. It advertises 10% free paint, which sounds generous until somebody does the arithmetic on a 20-litre bucket.
Birla Pivot carries more than 50,000 stock lines from over 1,000 brands. The range runs from steel and tiles to bitumen and sanitaryware, and it sells cement too. Per management, UltraTech Building Solutions outlets supply 70 to 75% of Pivot's retail revenue. One sibling runs a shop that mostly stocks the other sibling's aisle.
Financial services is Aditya Birla Capital. Its lending book is ₹2,19,289 crore across non-bank finance and housing finance. Assets under management, meaning client money run for a fee, total ₹7,52,745 crore across asset management and insurance. The ABCD app has 12 million customers, and the business has 1,474 branches.
Cellulosic fibres turn wood pulp into textile fibre. Capacity is 842 thousand tonnes a year of staple fibre and 51 thousand tonnes of fashion yarn. Brands include Liva, Birla Modal and Birla Excel, which is lyocell. Volume was 202 thousand tonnes in the quarter, and 85% of it was sold in India. Specialty fibre was 27% of the total.
Quarterly results, balance sheet, cash flow, ratios, shareholding and the filings themselves are on the full page for Grasim Industries Limited.
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