Grasim Industries Ltd. · NSE:GRASIM
Grasim Industries — Investor Presentation (June 2025)
59 slides from Grasim Industries's investor presentation, June 2025
Slide 1: Investor Presentation June 2025: Grasim, A Play on India Growth Story
Investor Presentation June 2025 GRASIM : A PLAY ON INDIA GROWTH STORY Grasim Industries Limited Investor Presentation 1
Slide 2: Driven by our purpose, led by our values
DRIVEN BY OUR PURPOSE. LED BY OUR VALUES Passion Seamlessness Integrity Commitment Speed OUR TO ENRICH LIVES BY PURPOSE BUILDING DYNAMIC AND RESPONSIBLE BUSINESSES AND INSTITUTIONS, THAT INSPIRE TRUST.
Slide 3: Aditya Birla Group is...
ADITYA BIRLA GROUP IS… A US$ 66 billion* conglomerate Consolidated market cap of US$ 100# billion OUR KEY GROUP COMPANIES Across 6 continents and 41 countries Present across 20+ sectors 180+ state-of-the-art manufacturing units globally 187,000+ employees of over 100 nationalities 300M+ Loyal custom
Slide 4: Grasim's leadership across key components of growing economy
GRASIM’s LEADERSHIP ACROSS KEY COMPONENTS OF GROWING ECONOMY INDIA’s AMRIT KAAL KEY FACTORS Infrastructure & Housing RMC player Cement Producer Producer of White Demand Cement based Putty Strongest and fastest growing Increasing Diversified Financial Services among major economies Financialisation A
Slide 5: Stronglomorate: Key Strengths
STRONGLOMORATE : KEY STRENGTHS 1 2 3 4 A Legacy of Values Track record of Diversified Sustainable and Trust creating large Businesses with Manufacturing growing Businesses Stable cashflow and Brands generation Increasing share of Operating history Revenue growth Positive Free Renewable power of 75+
Slide 6: Stronglomorate: Key Strengths
STRONGLOMORATE : KEY STRENGTHS 5 6 7 History of continuous Strong Balance Sheet Value Creation Dividend Distribution with “AAA/Stable” rating ~1.8x/~2.4x For Consolidated outperformance >61 years Debt*/Equity in stock returns vs. 0.29x benchmark^ over 10Yr/5Yr period * Excluding Borrowing related to
Slide 7: Value Creation Strategy
VALUE CREATION STRATEGY Grasim Industries Limited Investor Presentation 7
Slide 8: Pillars of our strategy
PILLARS OF OUR STRATEGY BUSINESS COST SUSTAINABILITY LEADERSHIP LEADERSHIP INNOVATION Eco-friendly products CAPITAL Attain leadership & responsible ALLOCATION Continuous cost position in all our Focus on innovation manufacturing optimisation businesses in products and Investments in core processes a
Slide 9: Leadership across diversified businesses
LEADERSHIP ACROSS DIVERSIFIED BUSINESSES Building Materials Businesses Other Businesses Cellulosic B2B Financial Chemicals Cement Paints Textiles Renewables Insulators Fibres E-Commerce Services Leading Leading UltraTech: 2nd largest Digital Aditya Birla Premium Presence in Leading producer of produ
Slide 10: Track record of creating large businesses and brands
TRACK RECORD OF CREATING LARGE BUSINESSES & BRANDS Cellulosic Fibres Chemicals Building Materials Financial Services* 81,394 15,897 40,651 8,648 Revenue ( ₹ Cr.) 6,643 24,349 8,953 1,701 FY15 FY25 FY15 FY25 FY15 FY25 FY18 FY25 OUR LEADING BRANDS *Financials considered post-merger of Aditya Birla Nuv
Slide 11: R&D and Innovation
R&D AND INNOVATION WORLD CLASS R&D FACILITIES COMMERCIALISED A VARIETY OF HIGH-VALUE PRODUCTS 1 5 2 1 Cellulosic Fibres Chemicals Corporate R&D R&D Centres R&D Centres R&D Centre Centre (Cellulosic (Chemicals & (Paints) Fibres) Others) Primary building blocks for Traceability of Pulp source from for
Slide 12: Sustainable business practices and initiatives
SUSTAINABLE BUSINESS PRACTICES AND INITIATIVES Environment Sustainability Ratings ▪ 93% of total waste is recycled, reused and 13* ZLD Sites recovered (incl. 1 under commissioning) ▪ Committed to achieving net-zero emissions by 2050 ▪ Sourcing Pulp from sustainably managed forests ▪ Zero liquid disc
Slide 13: Capital allocation focus on growth businesses
CAPITAL ALLOCATION FOCUS ON GROWTH BUSINESSES Total Consolidated ₹13,832 Cr. Capex# (₹ Cr.) 20,199 22% 16,929 ₹62,246* 12,147 Cr. 9,017 78% 3,954 ₹48,415 Cr. Growth Capex Maintenance Capex FY21 FY22 FY23 FY24 FY25 #Calculation based on the movement in Gross block, CWIP and Capital advances. * Capex
Slide 14: Cost leadership
COST LEADERSHIP CELLULOSIC FIBRES CHEMICALS PAINTS Strong Backward Integration Power Cost Efficient Manufacturing Caustic, pulp, power and Diversified sources (captive Right size plants with high steam + grid) of power with level automation and lean improving renewable energy systems mix Cost effici
Slide 15: Financial Highlights
FINANCIAL HIGHLIGHTS Grasim Industries Limited Investor Presentation 15
Slide 16: Track record of consistent growth
TRACK RECORD OF CONSISTENT GROWTH REVENUE (₹ Cr.) EBITDA (₹ Cr.) 1,48,478 20,837 20,023 1,30,978 1,17,627 17,772 17,723 * 15,766 95,701 76,404 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 Revenue growth led by robust performance of EBITDA growth constrained by increased key input Building Mater
Slide 17: Consistent growth leading to strong financials
CONSISTENT GROWTH LEADING TO STRONG FINANCIALS CONSOLIDATED As on As on As on Particulars 31st Mar 2023 31st Mar 2024 31st Mar 2025 Net worth (₹ Cr.) 78,742 88,652 97,509 Debt - Equity Ratio 0.82x 0.97x 1.16x Debt* - Equity Ratio 0.15x 0.19x 0.29x Net debt* (₹ Cr.) 6,978 15,436 35,402 Total debts to
Slide 18: Cellulosic Fibres Business
CELLULOSIC FIBRES BUSINESS Grasim Industries Limited Investor Presentation 18
Slide 19: Cellulosic Fibres: Fastest growing fibre
CELLULOSIC FIBRES : FASTEST GROWING FIBRE GLOBAL INDIA 9.6% CAGR 3.9% CAGR (0.2%) CAGR INDIA CELLULOSIC (0.4%) CAGR FIBRE GROWING FASTEST WITH CAGR 3.5% CAGR 5.4% CAGR >2x CY15 CY24 CY15 CY24 OF OTHER FIBRES Synthetic Cotton Cellulosic Fibres Synthetic Cotton Cellulosic Fibres ~6% CELLULOSIC LIVA MO
Slide 20: Cellulosic Fibres: Innovation
CELLULOSIC FIBRES : INNOVATION Scan here Circular Fashion Traceability: Forest to Fashion to know more CANOPY HOT BUTTON - HIGHEST RATING 5 YEAR IN A ROW 2020 2021 2022 2023 2024 Grasim Industries Limited Investor Presentation 20
Slide 21: Cellulosic Fibres: Key macro trends
CELLULOSIC FIBRES : KEY MACRO TRENDS CHINA OPERATING RATE AND INVENTORY DAYS GLOBAL PRICES TREND ($/KG) 85 86 2.65 69 2.09 1.80 1.77 1.64 1.58 22 13 11 1.05 0.93 0.93 FY23 FY24 FY25 FY23 FY24 FY25 China Operating Rates China Plant Inventory CSF - CCF Cotton (Cotlook) PSF Globally demand for Stable d
Slide 22: Cellulosic Fibres: Key operational metrics
CELLULOSIC FIBRES : KEY OPERATIONAL METRICS CELLULOSIC STAPLE FIBRE (CSF) SALES (KT) CELLULOSIC FASHION YARN (CFY) SALES (KT) 844 43.7 43.0 41.4 810 711 FY23 FY24 FY25 FY23 FY24 FY25 CFY volume Highest-ever CSF Specialty volumes improved marginally sales volume at share improved to by 4% YoY, howeve
Slide 23: Cellulosic Fibres: Financial performance
CELLULOSIC FIBRES : FINANCIAL PERFORMANCE REVENUE (₹ Cr.) EBITDA (₹ Cr.) 15,897 1,722 15,149 1,524 14,949 1,031 FY23 FY24 FY25 FY23 FY24 FY25 Higher key input costs that were absorbed CFY realisations Revenue grew 6% YoY by the company and continue to remain led by volume growth not fully offset by
Slide 24: Chemicals Business
CHEMICALS BUSINESS Grasim Industries Limited Investor Presentation 24
Slide 25: Diversified chemicals portfolio
DIVERSIFIED CHEMICALS PORTFOLIO CHEMICALS’ CAPACITIES (KTPA) CHLOR- ALKALI FY26 1,155 Q1FY27 1,530 126 25 2% 12% 1,029 246 1,505 CHEMICALS CHLORINE DERIVATIVES PORTFOLIO Chlor-Alkali Chlorine Derivatives Speciality Chemicals Existing Capacity (KTPA) Capacity Expansion (KTPA) REVENUE BREAK-UP (%) SPE
Slide 26: Chemicals: Focus areas
CHEMICALS : FOCUS AREAS CHLORINE INTEGRATION* LEVELS (%) 65 62 60 58 Doubled Capacity of Epoxy polymers and SPECIALITY curing agents to 246 KTPA, in December CHEMICALS 2023. FY22 FY23 FY24 FY25 Leverage existing Epichlorohydrin (ECH) 50 KTPA plant capacities of CHLORINE construction at Vilayat progr
Slide 27: Speciality chemicals: Epoxy polymers and curing agents
SPECIALITY CHEMICALS : EPOXY POLYMERS AND CURING AGENTS EPOXY GROWTH DRIVERS PROTECTIVE COATING CONSTRUCTION RENEWABLES AUTOMOTIVE OTHERS India Industry 26% 22% 19% 18% 9% 6% Demand Mix (%) Market Share of Grasim's epoxy resin used in Total Patents filed >50% 2 out of 3 cars 8 GRASIM In India manufa
Slide 28: Chlor-Alkali: Key operational metrics
CHLOR-ALKALI : KEY OPERATIONAL METRICS CAUSTIC SODA SALES (KT) GRASIM – ECU (₹/TON) 47,951 1,145 1,205 1,168 32,109 33,092 FY23 FY24 FY25 FY23 FY24 FY25 International average Caustic Soda sales Caustic soda prices Continued oversupply of volume was down by 3% (CFR-SEA) improved by Chlorine leading t
Slide 29: Chemicals: Financial performance
CHEMICALS : FINANCIAL PERFORMANCE REVENUE (₹ Cr.) EBITDA (₹ Cr.) 2,271 10,422 8,213 8,648 1,208 1,054 FY23 FY24 FY25 FY23 FY24 FY25 Improved EBITDA up by 15% Revenue grew by 5% profitability in YoY driven by YoY led by higher ECU Chlorine Derivatives improvement in ECU realisations with segment led
Slide 30: Building Materials Business
BUILDING MATERIALS BUSINESS Grasim Industries Limited Investor Presentation 30
Slide 31: Cement Business
CEMENT BUSINESS Grasim Industries Limited Investor Presentation 31
Slide 32: India cement industry growth drivers
INDIA CEMENT INDUSTRY GROWTH DRIVERS India is the second largest cement but remains a highly underpenetrated market producer in the world, Global Cement Production Per capita Consumption (kg/annum) 1,410-1,420 1,110-1,130 32.2% 950-970 750-770 51.1% 1.6% 420-470 420-430 1.2% 1.6% 300-330 ~295 9.6% 2
Slide 33: UltraTech: India's largest selling cement brand
ULTRATECH : INDIA’S LARGEST SELLING CEMENT BRAND OUR STRENGTHS Leading Player of White One-stop building solution Scientifically engineered India’s Largest Largest manufacturer of Cement and Cement- 250 RMC plants in for the retail customer products to cater to Grey Cement Capacity RMC^ in India 116
Slide 34: Cement: Performance update
CEMENT: PERFORMANCE UPDATE During the year, UltraTech added 42.6 mt* (Including 26.3 mt* of Kesoram and Domestic Sales volume Green Power Mix for Q4FY25 India Cements) of grey (organic + inorganic) grew by Domestic operating stood at 35.7% (vs. 25.7 in cement capacity taking 14% YoY to 135.83 millio
Slide 35: Decorative Paints Business
DECORATIVE PAINTS BUSINESS Grasim Industries Limited Investor Presentation 35
Slide 36: Decorative Paints: Growth drivers
DECORATIVE PAINTS : GROWTH DRIVERS DECORATIVE PAINTS MARKET OPPORTUINITY Decorative Paints market is estimated to INDUSTRY SIZE UN-ORGANISED MARKET PER-CAPITA CONSUMPTION grow at CAGR of >10% over the next decade ₹ ~72,000 Cr. ~25% ~3.5 kg (Global average of 10 (FY25e) kg/annum) Urbanisation Housing
Slide 37: Road to ₹10,000 Cr. revenue and profitable player
ROAD TO ₹ 10,000 Cr. REVENUE AND PROFITABLE PLAYER DESIGN DISTRIBUTE DELIGHT Industry first wide scale Building launch, offering Superior Pan India complete and distribution network Customer superior product across 6600 towns Industry leading experience portfolio across six 6 serviced by 150 depots
Slide 38: Birla Opus: Set to become 2nd largest paints brand
BIRLA OPUS : SET TO BECOME 2nd LARGEST PAINTS BRAND Biggest Launch in the Indian Decorative Paints Market MANUFACTURING 6 1,332 MLPA 120 500 MLPA Fully backward integrated plants with Greater than combined current scientists at state-of-the-art R&D center Option of adding at lower capital cost PROWE
Slide 39: New growth business performance update
India’s #3 Decorative Paints Brand (internal estimates), in 6 months of pan-India operations, based on exit run rate of Q4FY25. Revenue Market Share crosses 10% in Decorative Paints market^, including Birla White Putty revenues Reached capacity share of 21% Total capex spent stood of Indian Organise
Slide 40: B2B E-Commerce Business
B2B E-COMMERCE BUSINESS Grasim Industries Limited Investor Presentation 40
Slide 41: B2B e-commerce for construction materials
B2B E-COMMERCE FOR CONSTRUCTION MATERIALS INDUSTRY OPPORTUNITY Market $100 bn <2% >10% MSME Demand Market Size of Digital 3-YR CAGR across enabling efficient Opportunity Penetration building material procurement and Drivers Construction Materials Industry categories wide reach VALUE PROPOSITION PROD
Slide 42: Birla Pivot: Strategy for scale up
BIRLA PIVOT: STRATEGY FOR SCALE UP ASPIRATION OF $1 BILLION REVENUE IN THREE YEARS BUILD FRONTLINE PRIVATE FINANCIAL UNASSISTED SUPPLY SALES LABELS CREDIT JOURNEYS Deep expertise Focus on good Scale up “Birla Pivot” Scale up Financial Increase ease of and partnerships, customer experience brand acro
Slide 43: Birla Pivot: Performance update
BIRLA PIVOT : PERFORMANCE UPDATE ARR* crossed milestone Enhancement of our Building strategic of ₹5,000 Cr., one of the logistics platform to partnerships with Driving digital adoption fastest growing B2B E- deliver a B2C-like brands and OEMs and across our user base commerce ventures in fulfillment
Slide 44: Building Materials: Financial performance
BUILDING MATERIALS : FINANCIAL PERFORMANCE REVENUE (₹ Cr.) EBITDA (₹ Cr.) 81,394 13,164 12,012 71,953 10,919 63,381 FY23 FY24 FY25 FY23 FY24 FY25 EBITDA declined due Revenue grew by 13% Cement business to lower profitability in YoY to ₹81,394 Cr. led revenue stood at Cement business and by superior
Slide 45: Financial Services Business
FINANCIAL SERVICES BUSINESS Grasim Industries Limited Investor Presentation 45
Slide 46: Financial Services: Our strengths
FINANCIAL SERVICES : OUR STRENGTHS ADITYA BIRLA CAPITAL : DIVERSIFIED FINANCIAL SERVICES PLATFORM NBFC Housing Asset Management Life Health Insurance Insurance ₹ 1,57,404 Cr. ₹ 5,11,260 Cr. ₹ 25,579 Cr. Total Lending Portfolio1 Total AUM2 Gross Premium3 ₹ 81,306 Cr. ₹ 3,75,371 Cr. 4.8%/8.4% Retail S
Slide 47: Aditya Birla Capital: Omni channel architecture
ADITYA BIRLA CAPITAL : OMNI CHANNEL ARCHITECTURE ABCD*-D2C platform for customers Udyog Plus-B2B Robust & agile digital platforms platform for MSMEs B2D platform for channel partners One ABC 956 co-located branches Dedicated customer service locations across 253 locations managers for cross sell One
Slide 48: ABCD D2C platform: 5.5 Mn customers
ABCD D2C PLATFORM : 5.5 Mn Customers ABCD APP & WEBSITE PROVIDES COMPLETE OMNICHANNEL2 EXPERIENCE TO CUSTOMERS Everything Finance As Simple As ABCD Launch of Vehicle Track 5.5Mn 2.3Mn 25+ Add and track all vehicle information in one Customers3 VPAs Product place Created3 categories3 Key Highlights i
Slide 49: Aditya Birla Capital: Financial performance
ADITYA BIRLA CAPITAL : FINANCIAL PERFORMANCE TOTAL LENDING BOOK* (₹ Cr.) ASSET QUALITY TREND# (₹ Cr.) 1,57,404 80,452 1,05,686 1,24,118 1,24,059 3.12% 2.51% 2.24% 94,364 1.98% 1.54% 2.72% 95.51% 96.22% 94.16% FY23 FY24 FY25 FY23 FY24 FY25 Gross Stage 1 Gross Stage 2 Gross Stage 3 TOTAL ASSET UNDER M
Slide 50: Aditya Birla Capital: Financial performance
ADITYA BIRLA CAPITAL : FINANCIAL PERFORMANCE REVENUE# (₹ Cr.) PAT*^ (₹ Cr.) 40,651 34,008 2,981 2,768 27,365 1,921 * FY23 FY24 FY25 FY23 FY24 FY25 Consolidated Revenue grew by 20% YoY Focus on credit quality of NBFC business driven by robust growth reported across segment continues to strengthen. PA
Slide 51: Others
OTHERS Grasim Industries Limited Investor Presentation 51
Slide 52: Other businesses: Financial performance
OTHER BUSINESSES* : FINANCIAL PERFORMANCE REVENUE* (₹ Cr.) EBITDA* (₹ Cr.) 3,288 494 3,092 3,087 445 419 FY23 FY24 FY25 FY23 FY24 FY25 Renewable business Revenue from other EBITDA stood at ₹400 Textiles business businesses was up 7% Cr. (including treasury Insulator business revenue stood flat at Yo
Slide 53: Appendix
APPENDIX
Slide 54: Consolidated income statement
CONSOLIDATED INCOME STATEMENT Particulars (₹ Cr.) Q4FY25 Q4FY24 % Change FY25 FY24 % Change Revenue from Operations 44,267 37,727 17 1,48,478 1,30,978 13 Other Income 383 427 -10 1,459 1,264 15 EBITDA* 6,548 6,196 6 20,023 20,837 -4 EBITDA Margin (%) 15% 16% 13% 16% Finance Cost 821 463 77 2,802 1,6
Slide 55: Standalone income statement
STANDALONE INCOME STATEMENT Particulars (₹ Cr.) Q4FY25 Q4FY24 % Change FY25 FY24 % Change Revenue from Operations 8,926 6,768 32 31,563 25,847 22 Other Income 227 260 -13 1,715 1,257 36 EBITDA 447 787 -43 2,857 3,573 -20 EBITDA Margin (%) 5% 11% 9% 13% Finance Cost 201 121 66 684 440 55 Depreciation
Slide 56: Standalone capex plan
STANDALONE CAPEX PLAN Planned Capex Capex Spent Particulars (₹ Cr.) FY25 FY25 Cellulosic Fibres Business 828 453 Capacity Expansion (including debottlenecking) 218 87 Modernisation and Maintenance Capex 610 366 Chemicals Business (A+B+C) 800 700 (A) Capacity Expansion - Chlor-Alkali & Chlorine Deriv
Slide 57: Balance sheet
Standalone (₹ Cr.) BALANCE SHEET Consolidated (₹ Cr.) 31st Mar'25 31st Mar'24 EQUITY & LIABILITIES 31st Mar'25 31st Mar'24 (Audited) (Audited) (Audited) (Audited) 54,398 52,115 Net Worth 97,509 88,652 - - Non Controlling Interest 60,304 50,286 - - Borrowings related to Financial Services 1,37,648 1,
Slide 58: Grasim group structure
GRASIM GROUP STRUCTURE Grasim Industries Limited Cellulosic Fibres Chemicals New Businesses Textiles Overseas Pulp & Fibre Subsidiaries JVs Staple Fibre Vilayat Paints Rishra UltraTech Cement (56.11%)** AV Group NB Inc. Grey Cement Vilayat Nagda Panipat Malanpur (Canada) (45.0%)* o India Operations
Slide 59: Thank you
THANK YOU Investor Relations Team grasim.ir@adityabirla.com +91 22 2499 5657
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