Grasim Industries Ltd. · NSE:GRASIM
Grasim Industries — Q3 FY25 Earnings Presentation
42 slides from Grasim Industries's earnings presentation, Feb 10, 2025
Slide 1: Exchange filing cover letter for results presentation
ADITYA BIRLA INA GRASIM Ref No. GIL/CFD/SEC/25/321/SE 10th February 2025 BSE Limited National Stock Exchange of India Limited Scrip Code: 500300 Symbol: GRASIM Dear Sir/Madam, Sub: Presentation on Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter and nine month
Slide 2: Grasim Industries Limited Earnings Presentation Q3FY25
ADITYA BIRLA .sT A FORCE FOR GOOD GRASIM GRASIM INDUSTRIES LIMITED I II 111 .L11111111111MI111111111111 gE • m== _ Earnings Presentation Q3FY25 February 2025 IMP CREATING AND SCALING GROWTH ENGINES FOR GROWING ECONOMY
Slide 3: Grasim's leadership across key components of growing economy
ADITYA BIRLA G9T8, GRASIM’s LEADERSHIP ACROSS KEY COMPONENTS OF GROWING ECONOMY GRASIM UltraTech • Cellulosic Staple Fibre • Grey Cement The Engineer's Choice • Cellulosic Fashion Yarn Birla Cellulose • White Cement • Linen Textiles • Raystl Infrastructure • Ready Mix Concrete BIRLA • 7. • Premium C
Slide 4: Track record of consistent growth
ADITYA BIRLA TRACK RECORD OF CONSISTENT GROWTH GRASUIA TTM Revenue TTM EBITDA TTM PAT^ ₹ 1,39,944 Cr. ₹ 19,666 Cr. ₹ 3,867 Cr. Consolidated Revenue (₹ Cr.) Consolidated EBITDA (₹ Cr.) 1,39,944 1,30,978 1,17,627 20,837 19,666 17,723 * 26,840 25,847 29,405 4,198 3,573 3,196 I----I :----: L 23% 1 :----
Slide 5: Macro updates
ADITYA BIRLA e6, GRASIM MACRO UPDATES
Slide 6: Macro indicators
ADITYA BIRLA MACRO INDICATORS PI; 1 1 GRASIM Industrial Production – IIP Growth (% YoY) India Merchandise Exports ($bn) IIP (% growth YoY) 11•11.1•11.1•11 Average (FY24) 125 120.0 5.9 120 115 5.2 4.7 108.3 109.3 110 105.9 3.7 105 103.3 3.1 100 95 -0.1 90 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Q3FY24 Q4F
Slide 7: Financial highlights
ADITYA BIRLA e6, GRASIM FINANCIAL HIGHLIGHTS
Slide 8: Key highlights – Q3FY25
ADITYA BIRLA KEY HIGHLIGHTS – Q3FY25 GRASIM Consolidated Revenue ₹34,793 Cr. up 9% YoY; EBITDA at ₹4,668 Cr. down 9% YoY ti • Consolidated EBITDA was down due to lower margins in cement business and initial investments for building consumer facing Paints business Cellulosic Fibres: Board approves se
Slide 9: Performance highlights – Q3FY25
ADITYA BIRLA PERFORMANCE HIGHLIGHTS – Q3FY25 GRASIM Consolidated J.- Revenue (₹ Cr.) EBITDA (₹ Cr.) PAT^@ (₹ Cr.) 33,563 34,793 31,965 5,150 4,668 4,042 1,514 899 473 Q3FY24 Q2FY25 Q3FY25 Q3FY24 Q2FY25 Q3FY25 Q3FY24 Q2FY25 Q3FY25 A- Standalone Revenue (₹ Cr.) EBITDA (₹ Cr.) F PAT ^ (₹ Cr.) 7,623 8,1
Slide 10: Performance highlights – 9MFY25
ADITYA BIRLA PERFORMANCE HIGHLIGHTS – 9MFY25 -1 1 Consolidated GRASIM Revenue (₹ Cr.) EBITDA (₹ Cr.) PAT^@ (₹ Cr.) 1,02,216 93,251 14,640 13,470 4,255 2,562 9MFY24 9MFY25 9MFY24 9MFY25 9MFY24 9MFY25 Standalone Revenue (₹ Cr.) EBITDA (₹ Cr.) PAT ^ (₹ Cr.) 22,637 2,786 19,080 2,409 655* 1,386 1,189**
Slide 11: Strong balance sheet
STRONG BALANCE SHEET GRASUVI Consolidated As on As on Particulars 31st Mar 2024 31st Dec 2024 Net worth (₹ Cr.) 88,652 91,363 Debt - Equity Ratio 0.97 1.15 Debt* - Equity Ratio 0.19 0.31 Net debt* (₹ Cr.) 15,436 32,321 Total debts to Total assets 0.33 0.37 Consolidated Net debt* to TTM EBITDA stood
Slide 12: Improving sustainability performance
ADITYA BIRLA IMPROVING SUSTAINABILITY PERFORMANCE* GRASIM M 11% 11% 50% 51% 1 8% 46% Increasing 44% Increasing 5% proportion of Renewable Mr recycled water Power Share to freshwater consumption L FY22 FY23 FY24 9MFY25 ^ FY22 FY23 FY24 9MFY25 ^ Awards & Achievements: ➢ Grasim Industries was honored w
Slide 13: Cellulosic fibres
ADITYA BIRLA e6, GRASIM CELLULOSIC FIBRES (CSF & CFY)
Slide 14: Cellulosic fibres: fastest growing in the fibre basket
ADITYA BIRLA CELLULOSIC FIBRES: FASTEST GROWING IN THE FIBRE BASKET GRASIM The Board has approved setting up of 110K TPA capacity of Lyocell, the fastest growing Specialty Cellulosic Fibres, at Harihar, Karnataka. The first phase of 55K TPA will be executed by mid-2027 at an investment of ₹1,350 Cr.
Slide 15: Macro trends - cellulosic fibres
ADITYA BIRLA MACRO TRENDS - CELLULOSIC FIBRES 1•I China Operating Rate (in Percentage) China Inventory (in Days) GRASIM 13 88 89 86 85 85 10 9 8 8 Q3FY24 Q2FY25 Q3FY25 9MFY24 9MFY25 Q3FY24 Q2FY25 Q3FY25 9MFY24 9MFY25 J Global Prices Trend ($/Kg) Price Movement 3.62 YoY QoQ Dec Exit Price Fibres (%)
Slide 16: Key operational metrics
ADITYA BIRLA KEY OPERATIONAL METRICS GRASIM CSF Sales (KT) Sales Volume Mix (CSF) Export Sales Standard Fibre 636 602 3% 79% 219 205 205 Q3FY25 Q3FY25 97% 21% Q3FY24 Q2FY25 Q3FY25 9MFY24 9MFY25 Domestic Sales Speciality Fibre .'4**....._. -.111k. W CFY Sales (KT) CSF sales volume flat YoY due to pro
Slide 17: Financial performance Q3FY25 - cellulosic fibres
ADITYA BIRLA FINANCIAL PERFORMANCE Q3FY25 - CELLULOSIC FIBRES GRASIM Revenue (₹ Cr.) EBITDA (₹ Cr.) 11,187 11,847 1,260 1,230 4,125 494 El 3,715 3,934 402 331 Q3FY24 Q2FY25 Q3FY25 9MFY24 9MFY25 J Q3FY24 Q2FY25 Q3FY25 9MFY24 9MFY25 Revenue grew 6% YoY led by improved realisation globally and higher s
Slide 18: Chemicals
ADITYA BIRLA e6, GRASIM CHEMICALS (CHLOR-ALKALI, CHLORINE DERIVATIVES & SPECIALITY CHEMICALS)
Slide 19: Diversified chemicals portfolio
ADITYA BIRLA DIVERSIFIED CHEMICALS PORTFOLIO GRAMM 1,530 FY26 ,,1 L___,___ 1,168 Q1FY27 CHLOR-ALKALI I 25 139 I 4 -1 2% 1 14% I ➢ Largest Chlor-Alkali producer in India. Market growing at a steady pace with L J L demand from Alumina, Organic & Inorganic Chemicals, Textiles & FMCG industries. 1,029 2
Slide 20: Focus on speciality chemicals
ADITYA BIRLA 12 h i FOCUS ON SPECIALITY CHEMICALS GRASIM MAJOR END-USE APPLICATIONS CHLORINE INTEGRATION LEVELS (%) Integration includes chlorine SPECIALITY CHEMICALS* consumption for HCL and pipeline 65% CONSTRUCTION sales for dedicated customers 62% 60% RENEWABLES 58% FY22 FY23 FY24 9MFY25 se CHEM
Slide 21: Key operational metrics - chemicals
ADITYA BIRLA KEY OPERATIONAL METRICS - CHEMICALS GRASIM CFR SEA Caustic Soda Prices ($/Ton)# Grasim – ECU (₹/Ton) 34,041 32,686 32,419 516 31,383 30,650 471 485 444 425 Q3FY24 Q2FY25 Q3FY25 9MFY24 9MFY25 Q3FY24 Q2FY25 Q3FY25 9MFY24 9MFY25 J Caustic Soda Sales (KT) Revenue Break-up of Chemicals Busin
Slide 22: Financial performance Q3FY25 - chemicals
ADITYA BIRLA FINANCIAL PERFORMANCE Q3FY25 - CHEMICALS GRASIM Revenue (₹ Cr.) EBITDA (₹ Cr.) 6,130 6,346 912 859 p 2,226 1,996 2,054 329 264 273 Q3FY24 Q2FY25 Q3FY25 9MFY24 9MFY25 Q3FY24 Q2FY25 Q3FY25 9MFY24 9MFY25 04 1 r International average Caustic soda prices (CFR-SEA) improved by 16% YoY to $516
Slide 23: Building materials
ADITYA BIRLA e6, GRASIM BUILDING MATERIALS (CEMENT, PAINTS & B2B E-COMMERCE)
Slide 24: India cement industry
ADITYA BIRLA INDIA CEMENT INDUSTRY GRASIM India is the second largest cement producer in the world, but remains a highly underpenetrated market Global Cement Production Per capita Consumption (kg/annum) 1,410-1,420 1,110-1,130 11 32.2% 950-970 750-770 51.1% 1.2% • 1.6% 420-470 420-430 300-330 ~295 2
Slide 25: Performance update Q3FY25 - cement (UltraTech)
ADITYA BIRLA PERFORMANCE UPDATE Q3FY25 - CEMENT (ULTRATECH) GRASIM The India Cements Limited (ICEM) has become a subsidiary of UltraTech with effect from 24th December 2024 • The total India grey cement capacity is expected to reach 182.8* MTPA by FY25 • Additionally, the overseas capacity stands at
Slide 26: Growing India decorative paints market
ADITYA BIRLA GROWING INDIA DECORATIVE PAINTS MARKET GRASIM I I INDUSTRY SIZE – FY25e Estimated CAGR of UN-ORGANISED MARKET PER-CAPITA CONSUMPTION ~₹76,000 Cr. ~25% ~3.5 kg (Global average of 10 kg/annum) >10% over the next decade BIRLA opus4 Housing Urbanisation PAINTS Demand 2nd Largest Player* in
Slide 27: Performance update Q3FY25 - paints (Birla Opus)
ADITYA BIRLA PERFORMANCE UPDATE Q3FY25 - PAINTS (BIRLA OPUS) GRASIM Commercial production started at Chamarajanagar (Nov-24), out of total six plants four already operational with capacity of 866 MLPA 0 • Mahad trial production commenced, and commercial production expected in Q4FY25 • Kharagpur tria
Slide 28: Comprehensive B2B ecommerce platform
ADITYA BIRLA COMPREHENSIVE B2B ECOMMERCE PLATFORM GRASIM E-commerce platform for Building Materials with end-to-end solutions (Demand prediction, Product assortment, Sourcing, Logistics and Financing) VALUE PROPOSITION PRODUCT CATEGORIES COMPETITIVE PRICING CEMENT & ALLIED SANITARYWARE ASSURED QUALI
Slide 29: Performance update Q3FY25 - B2B ecommerce (Birla Pivot)
ADITYA BIRLA PERFORMANCE UPDATE Q3FY25 - B2B ECOMMERCE (BIRLA PIVOT) GRASIM Revenue in-line with expectations led by new product categories and healthy customer additions 0 • On track to achieve FY27 revenue aspirations of USD $1 bn Launched customised self-serve tools driving digital adoption acros
Slide 30: Financial performance Q3FY25 - building materials
ADITYA BIRLA FINANCIAL PERFORMANCE Q3FY25 - BUILDING MATERIALS GRASIM Revenue (₹ Cr.) EBITDA (₹ Cr.) 54,168 9,014 51,034 7,600 17,011 16,683 18,784 3,261 W 2,806 1,886 I Q3FY24 Q2FY25 Q3FY25 9MFY24 9MFY25 Q3FY24 Q2FY25 Q3FY25 9MFY24 9MFY25 10 Revenue grew by 10% YoY to ₹18,784 Cr. led by growth in C
Slide 31: Financial services
ADITYA BIRLA e6, GRASIM FINANCIAL SERVICES
Slide 32: Financial performance Q3FY25 - financial services (Aditya Birla Capital)
ADITYA BIRLA FINANCIAL PERFORMANCE Q3FY25 - FINANCIAL SERVICES (ADITYA BIRLA CAPITAL) GRASIM Revenue# (₹ Cr.) Total Lending Book (₹ Cr.)* 1,46,151 1,37,946 10,252 9,396 1,15,139 8,786 Q3FY24 Q2FY25 Q3FY25 Q3FY24 Q2FY25 Q3FY25 Consolidated Revenue stood at ₹9,396 Cr. up 7% YoY • All segments reported
Slide 33: Other businesses
ADITYA BIRLA e6, GRASIM OTHER BUSINESSES (TEXTILES, INSULATORS & RENEWABLES)
Slide 34: Financial performance Q3FY25 - other businesses
ADITYA BIRLA FINANCIAL PERFORMANCE Q3FY25 - OTHER BUSINESSES GRASUVI Revenue (₹ Cr.) EBITDA (₹ Cr.) a 340 2,297 2,390 279 782 778 815 125 99 45 Q3FY24 Q2FY25 Q3FY25 9MFY24 9MFY25 Q3FY24 Q2FY25 Q3FY25 9MFY24 9MFY25 o Revenue from other businesses was up 4% YoY, EBITDA up by 26% YoY led by capacity in
Slide 35: Appendix
ADITYA BIRLA e6, GRASIM APPENDIX
Slide 36: Consolidated income statement
ADITYA BIRLA CONSOLIDATED INCOME STATEMENT GRASUVI Particulars (₹ Cr.) Q3FY25 Q3FY24 % Change Q2FY25 % Change Revenue from Operations 34,793 31,965 9 33,563 4 Other Income 369 256 44 395 -7 EBITDA* 4,668 5,150 -9 4,042 15 EBITDA Margin (%) 13% 16% 12% Finance Cost 699 433 61 581 20 Depreciation 1,53
Slide 37: Standalone income statement
ADITYA BIRLA STANDALONE INCOME STATEMENT GRASIM Particulars (₹ Cr.) Q3FY25 Q3FY24 % Change Q2FY25 % Change Revenue from Operations 8,120 6,400 27 7,623 7 Other Income 102 120 - 1,294* - EBITDA 372 643 -42 1,619 - EBITDA Margin (%) 5% 10% 18% Finance Cost 181 107 69 161 12 Depreciation 421 296 42 406
Slide 38: Capex plan - standalone
ADITYA BIRLA CAPEX PLAN - STANDALONE GRASIM Planned Capex Capex Spent Particulars (₹ Cr.) FY25 9MFY25 Cellulosic Fibres Business ■ 826 319 Capacity Expansion (including debottlenecking) 218 50 Modernisation and Maintenance Capex 608 269 Chemicals Business (A+B+C) 800 462 (A) Capacity Expansion - Chl
Slide 39: Balance sheet
ADITYA BIRLA BALANCE SHEET GRASIM Standalone (₹ Cr.) 31st Dec'24 (Unaudited) 31st Mar'24 (Audited) EQUITY & LIABILITIES Consolidated (₹ Cr.) 31st Dec'24 (Unaudited) 31st Mar'24 (Audited) in 52,434 52,115 Net Worth 91,363 88,652 - - Non Controlling Interest 58,748 50,286 - - Borrowings related to Fin
Slide 40: Grasim group structure
ADITYA BIRLA GRASIM GROUP STRUCTURE GRASIM Grasim Industries Limited Cellulosic Fibres Chemicals New Businesses Textiles Overseas Pulp & CSF JVs Subsidiaries AV Group NB Inc. (Canada) CSF Vilayat Paints Rishra UltraTech Cement (57.27%)** (45.0%)* Domsjo (Sweden) Grey Cement Vilayat Nagda Panipat Mal
Slide 41: Forward looking and cautionary statement
FORWARD LOOKING AND CAUTIONARY STATEMENT GRASUIA This presentation is issued by Grasim Industries Limited (the “Company”) for general information purposes only, without regard to any specific objectives, suitability, financial situations and needs of any particular person. This presentation does not
Slide 42: Thank you
ADITYA BIRLA e6, GRASIM THANK YOU Investor Relations Team grasim.ir@adityabirla.com +91 22 2499 5657