Grasim Industries Ltd. · NSE:GRASIM
Grasim Industries — Q1 FY26 Earnings Presentation
42 slides from Grasim Industries's earnings presentation, August 2025
Slide 1: Earnings Presentation Q1FY26
Earnings Presentation Q1FY26 CREATING AND SCALING GROWTH ENGINES GRASIM INDUSTRIES LIMITED FOR VIKSIT BHARAT August 2025
Slide 2: Index
Index Macro Financial Highlights Cellulosic Chemicals Updates Fibres 05 07 12 17 Building Financial Other Annexure Materials Services Businesses 22 30 32 34 Grasim Industries Limited | Q1FY26
Slide 3: Grasim's leadership across key components of growing economy
Grasim’s leadership across key components of growing economy FOCUS ON FAST GROWING ASPIRATIONAL INFRASTRUCTURE AND GROWING INCREASING MANUFACTURING RENEWABLE ENERGY CONSUMPTION HOUSING DEMAND DIGITAL ECONOMY FINANCIALISATION GROWTH SECTOR PROXY PLAY ON INDIA’S GROWTH STORY Cellulosic Staple Fibre Ch
Slide 4: Track record of consistent growth
Track record of consistent growth Q1FY26 Highlights Revenue (₹ crore) EBITDA (₹ crore) Consolidated Consolidated Standalone Standalone Revenue TTM Standalone % in Consolidated Standalone % in Consolidated ₹1,53,986 Cr. 1,53,986 21,713 1,48,478 20,837 20,023 EBITDA TTM 1,30,978 ₹21,713 Cr. 20% 21% 22
Slide 5: Macro Updates
Earnings Presentation | Q1FY26 Macro Updates
Slide 6: Macro Indicators
Macro Updates Macro Indicators Industrial Production – IIP Growth (% YoY) India Merchandise Exports ($ billion) IIP (% growth YoY) Average (FY25) 120.4 115.3 112.4 4.0 110.1 109.3 103.3 5.2 2.7 3.9 2.6 1.9 1.5 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Manufa
Slide 7: Financial Highlights
Earnings Presentation | Q1FY26 Financial Highlights
Slide 8: Key Highlights of Q1FY26
Financial Highlights Key Highlights of Q1FY26 Consolidated Revenue ₹40,118 Cr. up 16% YoY; EBITDA ₹6,430 Cr. up 36% YoY led by superior performance across key businesses CONSOLIDATED › EBITDA growth mainly due to higher profitability in Cement and Chemicals businesses partially offset by investments
Slide 9: Performance Highlights
Financial Highlights Performance Highlights Consolidated Revenue (₹ crore) EBITDA (₹ crore) PAT* (₹ crore) 44,267 6,548 6,430 1,496 1,419 40,118 34,610 4,740 1,075 Q1FY25^ Q4FY25 Q1FY26 Q1FY25^ Q4FY25 Q1FY26 Q1FY25^ Q4FY25 Q1FY26 Standalone Revenue (₹ crore) EBITDA (₹ crore) PAT (₹ crore) 8,926 9,22
Slide 10: Consolidated Performance Highlights
Financial Highlights Consolidated Performance Highlights Particulars As on 31st Mar 2025 As on 30th Jun 2025 Net Worth (₹ crore) 97,509 99,117 Debt - Equity Ratio 1.16 1.18 Total Debt to Total Assets 0.37 0.37 Debt* - Equity Ratio 0.29 0.29 Net Debt* (₹ crore) 35,402 35,138 *Excluding borrowing rela
Slide 11: Improving Sustainability Performance
Sustainability Highlights Improving Sustainability Performance* Increasing Renewable Capacity Power Share Increasing % of Recycled Water to Freshwater Consumption 50% 48% 46% 45% 23% 11% 11% 8% FY23 FY24 FY25^ Q1FY26^ FY23 FY24 FY25^ Q1FY26^ Awards and Achievements Sustainable Masters of Risk Golden
Slide 12: Cellulosic Fibres
Earnings Presentation | Q1FY26 Cellulosic Fibres Cellulosic Staple Fibre (CSF) Cellulosic Fashion Yarn (CFY)
Slide 13: Cellulosic Fibres: Fastest Growing in the Fibre Basket
Cellulosic Fibres Cellulosic Fibres: Fastest Growing in the Fibre Basket India Cellulosic Fibre growing Global India fastest with CAGR >2x CAGR 3.9% CAGR 9.6% of other fibres (0.2%) (0.4%) 3.5% 5.4% CY15 CY24 CY15 CY24 Cellulosic Fibres Cotton Synthetic Growth 6% share Cellulosic Gap Liva Brand Most
Slide 14: Macro Trends
Cellulosic Fibres Macro Trends China Operating Rate (%) China Inventory (in days) 87 20 82 82 14 12 Q1FY25 Q4FY25 Q1FY26 Q1FY25 Q4FY25 Q1FY26 Global Prices Trend ($/kg) Price Movement YoY QoQ Mar Exit Price CSF - CCF Cotton (Cotlook) PSF Fibres (%) (%) (Δ over Q1FY26) 3.62 International CSF 1.49 $/k
Slide 15: Key Operational Metrics
Cellulosic Fibres Key Operational Metrics CSF Sales (KT) CSF Sales Volume Mix (Q1FY26) Export Sales Specialty Fibres 212 207 209 7% 21% 79% 93% Q1FY25 Q4FY25 Q1FY26 Domestic Sales Standard Fibres CFY Sales (KT) Domestic CSF sales volumes grew by 2% YoY though overall CSF 11.1 sales volume de-grew by
Slide 16: Q1FY26 Financial Performance
Cellulosic Fibres Q1FY26 Financial Performance Revenue (₹ crore) EBITDA (₹ crore) 4,051 4,043 405 3,787 322 293 Q1FY25 Q4FY25 Q1FY26 Q1FY25 Q4FY25 Q1FY26 Revenue grew 7% YoY led by stable Higher key input prices which were CFY realisations remain impacted due to realisation on sequential basis passe
Slide 17: Chemicals
Earnings Presentation | Q1FY26 Chemicals Chlor-Alkali Chlorine Derivatives Specialty Chemicals
Slide 18: Diversified Chemicals Portfolio
Chemicals Diversified Chemicals Portfolio Chlor-Alkali Chlorine Derivatives Existing Capacity Expansion Plan Projected Capacity Existing Capacity Expansion Plan Projected Capacity (KTPA) (KTPA) (KTPA) (KTPA) (KTPA) (KTPA) 1,505 25 1,530 1,047 79 1,126 › Maintaining Market leadership position in Chlo
Slide 19: Focus on Specialty Chemicals
Chemicals Focus on Specialty Chemicals Major End-Use Applications Chlorine Integration Levels (%) Integration includes chlorine consumption for HCL and pipeline sales for dedicated customers Specialty Chemicals* 65% CONSTRUCTION 63% 62% 60% 58% RENEWABLES FY22 FY23 FY24 FY25 Q1FY26 Chlorine Derivati
Slide 20: Key Operational Metrics
Chemicals Key Operational Metrics CFR SEA Caustic Soda Prices* ($/ton) Grasim – ECU (₹/ton) 525 35,137 35,911 32,529 469 468 Q1FY25 Q4FY25 Q1FY26 Q1FY25 Q4FY25 Q1FY26 Caustic Soda Sales (KT) Revenue Breakup of Chemicals Business (%) Chlorine Derivatives Specialty Chemicals Chlor-Alkali 290 303 282 2
Slide 21: Q1FY26 Financial Performance
Chemicals Q1FY26 Financial Performance Revenue (₹ crore) EBITDA (₹ crore) 2,391 422 2,302 2,066 310 296 Q1FY25 Q4FY25 Q1FY26 Q1FY25 Q4FY25 Q1FY26 Revenue grew by 16% YoY Specialty Chemicals sales EBITDA grew by 36% YoY at ₹2,391 Cr. led by higher sales volume and improved led by higher profitability
Slide 22: Building Materials
Earnings Presentation | Q1FY26 Building Materials Cement Paints B2B E-commerce
Slide 23: India Cement Industry
Building Materials India Cement Industry India is the second largest cement producer in the world, but remains a highly underpenetrated market Global Cement Production Per Capita Consumption (kg/annum) 1,340-1,350 1,090-1,100 1000-1010 955-965 30.8% 790-800 420-470 430-440 51.1% 360-380 360-380 310-
Slide 24: Q1FY26 Performance Update – Cement (UltraTech)
Building Materials Q1FY26 Performance Update – Cement (UltraTech) Consolidated Domestic grey Operating EBITDA/mt Ready Mix Concrete volumes grew by cement realisation grew by 37% YoY at (RMC) volume grew ₹1,248/mt, compared to ₹911 in 9.7% YoY (incl. India Cements grew by 2.4% YoY to Q1FY25 by 20% Y
Slide 25: Growing India Decorative Paints Market
Building Materials Growing India Decorative Paints Market Current Scenario Estimated CAGR of >10% Industry Size (FY26e) over the next decade ₹72,000 Cr. 2nd Largest Player* Unorganised Market HOUSING DEMAND in Indian Decorative Paints Industry ~25% MANUFACTURING PROWESS URBANISATION Per Capita Consu
Slide 26: Q1FY26 Performance Update – Paints (Birla Opus)
Building Materials Q1FY26 Performance Update – Paints (Birla Opus) Double digit Revenue Market Capacity share to reach ~24% New Product Packaging introduced of Organized Decorative Paints industry share^, incl. Birla Opus & Birla White Putty › Expanded portfolio to 179 products and 1,460+ SKUs › Tri
Slide 27: Comprehensive B2B E-commerce Platform
Building Materials Comprehensive B2B E-commerce Platform 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 SANITARY WARE ASSURED QUAL
Slide 28: Q1FY26 Performance Update – B2B E-commerce (Birla Pivot)
Building Materials Q1FY26 Performance Update – B2B E-commerce (Birla Pivot) Revenue grew by high single- Revenue mix continues to improve due to new newer geographies & Expanded into digit QoQ product categories like Non-ferrous, territories › On track to achieve revenue of ₹8,500 crores Bitumen, Ch
Slide 29: Q1FY26 Financial Performance
Building Materials Q1FY26 Financial Performance Revenue (₹ crore) EBITDA (₹ crore) 25,232 4,406 4,291 23,733 19,450 2,889 Q1FY25 Q4FY25 Q1FY26 Q1FY25 Q4FY25 Q1FY26 Revenue grew by 22% YoY to Cement revenue grew by 13% EBIDTA grew by 48% YoY to ₹4,291 Cr. ₹23,733 Cr. led by all-round performance acro
Slide 30: Financial Services
Earnings Presentation | Q1FY26 Financial Services Aditya Birla Capital Limited NBFC Housing Finance Investing and Insurance
Slide 31: Q1FY26 Financial Performance - Aditya Birla Capital
Financial Services Q1FY26 Financial Performance - Aditya Birla Capital Revenue# (₹ crore) Total Lending Book* (₹ crore) 1,65,832 12,197 1,57,404 9,488 1,27,705 8,807 Q1FY25 Q4FY25 Q1FY26 Q1FY25 Q4FY25 Q1FY26 Revenue grew by 8% YoY PAT^ grew by 12% YoY Total Lending Portfolio* 6.4 million+ App at ₹9,
Slide 32: Other Businesses
Earnings Presentation | Q1FY26 Other Businesses Textiles Renewables Insulators
Slide 33: Q1FY26 Financial Performance
Other Businesses Q1FY26 Financial Performance Revenue (₹ crore) EBITDA (₹ crore) 898 865 154 798 139 109 Q1FY25 Q4FY25 Q1FY26 Q1FY25 Q4FY25 Q1FY26 Revenue grew by 8% YoY to ₹865 Cr., Renewables business revenue Textiles business revenue stood while EBITDA grew by 41% YoY to grew by 54% YoY to ₹192 C
Slide 34: Annexure
Earnings Presentation | Q1FY26 Annexure
Slide 35: Consolidated Income Statement
Annexure Consolidated Income Statement Particulars (₹ crore) Q1FY26 Q1FY25 % Change Q4FY25 % Change Revenue from Operations 40,118 34,610 16 44,267 -9 Other Income 342 303 13 383 -11 EBITDA* 6,430 4,740 36 6,548 -2 EBITDA Margin (%) 16% 14% 15% Finance Cost 816 551 48 821 -1 Depreciation 1,810 1,443
Slide 36: Standalone Income Statement
Annexure Standalone Income Statement Particulars (₹ crore) Q1FY26 Q1FY25 % Change Q4FY25 % Change Revenue from Operations 9,223 6,894 34 8,926 3 Other Income 144 93 54 227 -37 EBITDA 528 418 26 447 18 EBITDA Margin (%) 6% 6% 5% Finance Cost 206 140 47 201 3 Depreciation 478 349 37 501 -4 PBT (156) (
Slide 37: Standalone Capex Plan
Annexure Standalone Capex Plan Capex Spent Planned Capex Particulars (₹ crore) Q1FY26 FY26 Cellulosic Fibres 85 839 Capacity Expansion (including debottlenecking) 11 447 Modernisation and Maintenance Capex 75 392 Chemicals (A + B + C) 183 668 (A) Capacity Expansion: Chlor-Alkali & Chlorine Derivativ
Slide 38: Balance Sheet
Annexure Balance Sheet EQUITY AND LIABILITIES Standalone (₹ crore) Consolidated (₹ crore) 30th June 2025 31st March 2025 30th June 2025 31st March 2025 Net Worth 54,340 54,398 99,117 97,509 Non-Controlling Interest - - 61,830 60,304 Borrowings related to Financial Services - - 1,43,365 1,37,648 Othe
Slide 39: Balance Sheet
Annexure Balance Sheet ASSETS Standalone (₹ crore) Consolidated (₹ crore) 30th June 2025 31st March 2025 30th June 2025 31st March 2025 Net Fixed Assets 22,198 22,373 1,18,805 1,16,649 Capital WIP & Advances 3,281 3,042 18,308 17,825 Right of Use – Lease (including Leasehold Land) 1,330 1,355 3,096
Slide 40: Grasim Group Structure
Annexure Grasim Group Structure GRASIM INDUSTRIES LIMITED CELLULOSIC FIBRES CHEMICALS BUILDING MATERIALS OTHER BUSINESSES OVERSEAS PULP & CSF JVs SUBSIDIARIES CSF Chemicals Paints Textiles AV Group NB Inc. UltraTech Cement (56.11%)** (Canada) (45%)* Vilayat Vilayat Panipat Rishra Domsjo Grey Cement
Slide 41: Safe Harbor
Safe Harbor By attending this presentation or reading these materials, you agree to be bound by the following limitations and restrictions. This presentation is issued by Grasim Industries Limited (the “Company”) for general information purposes only, without regard to any specific objectives, suita
Slide 42: Thank You
Thank You Investor Relations grasim.ir@adityabirla.com +91 22 2499 5657