Grasim Industries Ltd. · NSE:GRASIM
Grasim Industries — Q4 2026 Earnings Presentation
43 slides from Grasim Industries's earnings presentation, May 2026
Slide 1: Earnings Presentation Q4FY26
Earnings Presentation Q4FY26 CREATING AND SCALING GROWTH ENGINES GRASIM INDUSTRIES LIMITED FOR VIKSIT BHARAT May 2026
Slide 2: Index
Index Macro Financial Cellulosic Chemicals Updates Highlights Fibres 05 07 13 18 Building Financial Other Annexure Materials Services Businesses 23 31 33 35 Grasim Industries Limited | Q4FY26
Slide 3: Grasim's leadership across key components of growing economy
Grasim’s leadership across key components of growing economy FOCUS ON INFRASTRUCTURE GROWING ASPIRATIONAL GROWING INCREASING MANUFACTURING AND HOUSING RENEWABLE CONSUMPTION DIGITAL ECONOMY FINANCIALISATION GROWTH DEMAND ENERGY SECTOR PROXY PLAY ON INDIA’S GROWTH STORY Cellulosic Staple Fibre Chlor-A
Slide 4: Track record of consistent growth
Track record of consistent growth FY26 Highlights Revenue (₹ crore) EBITDA (₹ crore) Consolidated Consolidated Standalone Standalone Revenue Standalone % in Consolidated Standalone % in Consolidated ₹1,75,431 Cr. 1,75,431 25,872 EBITDA 1,48,478 20,837 20,023 1,30,978 ₹25,872 Cr. 20% 21% 23% 17% 14%
Slide 5: Macro Updates
Earnings Presentation | Q4FY26 Macro Updates
Slide 6: Macro indicators – Q4FY26
Macro Updates Macro indicators – Q4FY26 Index of Industrial Production - IIP (% YoY) India Merchandise Exports ($ billion) Non-Food Bank Credit Growth (%) 115.3 16.9 110.2 112.1 5.3 14.4 4.8 4.0 11.0 10.8 9.3 Q4FY25 Q3FY26 Q4FY26 Q4FY25 Q3FY26 Q4FY26 MAR-25 JUN-25 SEP-25 DEC-25 MAR-26 In IIP, Manufa
Slide 7: Financial Highlights
Earnings Presentation | Q4FY26 Financial Highlights
Slide 8: Q4FY26 Key Highlights
Financial Highlights Q4FY26 Key Highlights Highest-ever revenue at ₹51,101 Cr. up 15% YoY led by robust performance across businesses CONSOLIDATED › EBITDA stood highest-ever at ₹8,011 Cr., up 22% YoY led by scale, efficiency gains and improved profitability across all business segments PERFORMANCE
Slide 9: Q4FY26 Performance Highlights
Financial Highlights Q4FY26 Performance Highlights Consolidated Revenue (₹ crore) EBITDA (₹ crore) Adjusted PAT#* (₹ crore) 51,101 8,011 2,041 6,548 1,559 44,267 44,312 6,215 1,168 Q4FY25 Q3FY26 Q4FY26 Q4FY25 Q3FY26 Q4FY26 Q4FY25 Q3FY26 Q4FY26 Standalone Revenue (₹ crore) EBITDA (₹ crore) Adjusted P
Slide 10: FY26 Performance Highlights
Financial Highlights FY26 Performance Highlights Consolidated Revenue (₹ crore) EBITDA (₹ crore) Adjusted PAT#* (₹ crore) 1,75,431 25,872 6,163 1,48,478 1,30,978 20,837 20,023 5,203 3,902 FY24 FY25 FY26 FY24 FY25 FY26 FY24 FY25 FY26 Standalone Revenue (₹ crore) EBITDA (₹ crore) Adjusted PAT# (₹ cror
Slide 11: Consolidated Financial Position
Financial Highlights Consolidated Financial Position Particulars As on 31st Mar 2025 As on 31st Dec 2025 As on 31st Mar 2026 Net Worth (₹ crore) 97,509 1,02,157 1,03,470 Debt - Equity Ratio 1.16 1.26 1.32 Total Debt to Total Assets 0.37 0.38 0.39 Debt* - Equity Ratio 0.29 0.29 0.28 Net Debt* (₹ cror
Slide 12: Improving Sustainability Performance
Sustainability Highlights Improving Sustainability Performance* Increasing % of Renewable Capacity Power Share Increasing % of Recycled Water to Freshwater Consumption 50% 50% 45% 24% 11% 11% FY24 FY25^ FY26^ FY24 FY25^ FY26^ Awards and Achievements CII – ITC Centre CII National Launch of BW Sustain
Slide 13: Cellulosic Fibres
Earnings Presentation | Q4FY26 Cellulosic Fibres Cellulosic Staple Fibre (CSF) Cellulosic Fashion Yarn (CFY)
Slide 14: Cellulosic Fibres: Fastest Growing in the Fibre Basket
Cellulosic Fibres Cellulosic Fibres: Fastest Growing in the Fibre Basket Global India India Cellulosic Fibre CAGR CAGR growing fastest with CAGR 3.8% 9.0% 0.0% (0.1%) ~2x 4.1% 5.4% of other fibres CY15 CY25e CY15 CY25e Synthetic Cotton Cellulosic Fibres Synthetic Cotton Cellulosic Fibres Cellulosic
Slide 15: Macro Trends
Cellulosic Fibres Macro Trends China Operating Rate (%) China Inventory (in days) 94 92 14 14 87 86 89 12 11 11 Q4FY25 Q3FY26 Q4FY26 FY25 FY26 Q4FY25 Q3FY26 Q4FY26 FY25 FY26 Global Prices Trend ($/kg) Price Movement YoY QoQ Mar-26\Exit Price 1.72 1.65 1.66 Fibres (%) (%) (Δ over Q4FY26) 1.60 1.52 1.
Slide 16: Key Operational Metrics
Cellulosic Fibres Key Operational Metrics CSF Sales (KT) CSF Sales Volume Mix (Q4FY26) Export Sales Specialty Fibres 844 869 232 16% 219 26% 207 74% 84% Q4FY25 Q3FY26 Q4FY26 FY25 FY26 Domestic Sales Standard Fibres CFY Sales (KT) CSF total sales volumes stood highest-ever at 232 KT, up 12% YoY, driv
Slide 17: Q4FY26 Financial Performance
Cellulosic Fibres Q4FY26 Financial Performance Revenue (₹ crore) EBITDA (₹ crore) 17,104 1,751 15,897 1,524 4,614 588 4,298 491 4,051 293 Q4FY25 Q3FY26 Q4FY26 FY25 FY26 Q4FY25 Q3FY26 Q4FY26 FY25 FY26 Revenue grew by 14% YoY led EBITDA grew 2x YoY led by volume CFY business performance by volume grow
Slide 18: Chemicals
Earnings Presentation | Q4FY26 Chemicals Chlor-Alkali Chlorine Derivatives Specialty Chemicals
Slide 19: Diversified Chemicals Portfolio
Chemicals Diversified Chemicals Portfolio Chlor-Alkali Chlorine Derivatives Existing Capacity Expansion Projected Capacity Existing Capacity Expansion Plan Projected Capacity (KTPA) Plan (KTPA) (KTPA) (KTPA) (KTPA) (KTPA) 1,505 25 1,530 996* 79 1,075* *Capacities written-off Phosphoric Acid and CaCl
Slide 20: Focus on Specialty Chemicals
Chemicals Focus on Specialty Chemicals Major End-Use Applications Chlorine Integration Levels (%) Captive Consumption Chlorine Integration Levels (incl. Pipeline sales) Specialty Chemicals* 65% 64% 67% 60% 62% 58% CONSTRUCTION 53% 56% 49% 51% 44% 47% RENEWABLES FY22 FY23 FY24 FY25 FY26 FY27e Chlorin
Slide 21: Key Operational Metrics
Chemicals Key Operational Metrics CFR SEA Caustic Soda Prices* ($/ton) Grasim – ECU (₹/ton) 525 495 35,137 443 446 452 32,079 32,413 33,092 33,325 Q4FY25 Q3FY26 Q4FY26 FY25 FY26 Q4FY25 Q3FY26 Q4FY26 FY25 FY26 Caustic Soda Sales (KT) Revenue Breakup of Chemicals Business (%) Specialty Chemicals Chlor
Slide 22: Q4FY26 Financial Performance
Chemicals Q4FY26 Financial Performance Revenue (₹ crore) EBITDA (₹ crore) 9,592 1,406 8,648 1,208 2,345 2,458 2,302 315 304 296 Q4FY25 Q3FY26 Q4FY26 FY25 FY26 Q4FY25 Q3FY26 Q4FY26 FY25 FY26 Chemicals segment revenue EBITDA grew by 3% YoY, led by higher Specialty Chemicals revenue profitability in Ca
Slide 23: Building Materials
Earnings Presentation | Q4FY26 Building Materials Cement Paints B2B E-commerce
Slide 24: India's Cement Industry
Building Materials India’s Cement Industry India is the second largest cement producer in the world, but remains a highly underpenetrated market Global Cement Production Per Capita Cement Consumption (kg/annum) 1,340-1,350 1,090-1,100 1000-1010 955-965 30.8% 790-800 World average: 470-520 kg 420-470
Slide 25: Q4FY26 Performance Update – Cement (UltraTech)
Building Materials Q4FY26 Performance Update – Cement (UltraTech) Total grey cement capacity Consolidated sales volume Total Operating EBITDA/t crosses milestone of 200 mtpa grew by 9% YoY at 44.71 MnT, stood at ₹1,253/t, cumulative highest-ever quarterly volumes efficiency gains over FY25 and FY26
Slide 26: 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 ~₹76,000 Cr. 2nd Largest Player* Unorganised Market HOUSING DEMAND in Indian Decorative Paints Industry ~24% MANUFACTURING PROWESS URBANISATION Per Capita Cons
Slide 27: Q4FY26 Performance Update – Paints (Birla Opus)
Building Materials Q4FY26 Performance Update – Paints (Birla Opus) Birla Opus delivers sequential Price hikes to reduce gap and Capacity utilization steadily revenue growth of 19% & mitigate input cost escalation ramping up volume growth at 17% QoQ › Price increase implemented in multiple phases: ›
Slide 28: 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 STEEL & ALLIED SANITARY WARE ASSURED QUALI
Slide 29: Q4FY26 Performance Update – B2B E-commerce (Birla Pivot)
Building Materials Q4FY26 Performance Update – B2B E-commerce (Birla Pivot) Revenue more than doubled Expanding buyer base with Enhancing accessibility and on YoY basis strong repeat momentum choice for customers pan- › Revenue growth driven by new and active buyers, healthy repeat orders, increasin
Slide 30: Q4FY26 Financial Performance - Building Materials
Building Materials Q4FY26 Financial Performance - Building Materials Revenue (₹ crore) EBITDA (₹ crore) 1,01,202 16,364 81,394 30,042 12,012 25,232 25,173 5,386 4,406 3,737 Q4FY25 Q3FY26 Q4FY26 FY25 FY26 Q4FY25 Q3FY26 Q4FY26 FY25 FY26 Revenue grew by 19% YoY to Cement revenue grew by 12% EBIDTA grew
Slide 31: Financial Services
Earnings Presentation | Q4FY26 Financial Services Aditya Birla Capital Limited NBFC Housing Finance Investing and Insurance
Slide 32: Q4FY26 Financial Performance - Aditya Birla Capital
Financial Services Q4FY26 Financial Performance - Aditya Birla Capital Revenue# (₹ crore) Total Lending Book* (₹ crore) 45,427 13,422 40,651 2,07,368 12,197 11,948 1,90,386 1,57,404 Q4FY25 Q3FY26 Q4FY26 FY25 FY26 Q4FY25 Q3FY26 Q4FY26 Revenue# grew by 10% PAT^ grew by 32% YoY Total Lending* Portfolio
Slide 33: Other Businesses
Earnings Presentation | Q4FY26 Other Businesses Textiles Renewables Insulators
Slide 34: Q4FY26 Financial Performance - Other Businesses
Other Businesses Q4FY26 Financial Performance - Other Businesses Revenue (₹ crore) EBITDA (₹ crore) 3,892 879 3,288 1,010 1,021 234 242 898 419 139 Q4FY25 Q3FY26 Q4FY26 FY25 FY26 Q4FY25 Q3FY26 Q4FY26 FY25 FY26 Revenue grew by 14% YoY to Renewables business revenue Textiles business revenue grew ₹1,0
Slide 35: Annexure
Earnings Presentation | Q4FY26 Annexure
Slide 36: Consolidated Income Statement
Annexure Consolidated Income Statement Particulars (₹ crore) Q4FY26 Q4Y25 % Change FY26 FY25 % Change Revenue from Operations 51,101 44,267 15 1,75,431 1,48,478 18 Other Income 228 383 -41 1,180 1,459 -19 EBITDA* 8,011 6,548 22 25,872 20,023 29 EBITDA Margin (%) 16% 15% 15% 13% Finance Cost 922 821
Slide 37: Standalone Income Statement
Annexure Standalone Income Statement Particulars (₹ crore) Q4FY26 Q4FY25 % Change FY26 FY25 % Change Revenue from Operations 11,774 8,926 32 41,039 31,563 30 Other Income 119 227 -48 1,788 1.715 4 EBITDA 659 447 47 3,558 2,857 25 EBITDA Margin (%) 6% 5% 8% 9% Finance Cost 246 201 22 895 684 31 Depre
Slide 38: Standalone Capex Plan
Annexure Standalone Capex Plan Planned Capex Capex Spent Particulars (₹ crore) FY26 FY26 Cellulosic Fibres 839 729 Capacity Expansion (including debottlenecking) 424 397 Modernisation and Maintenance Capex 415 332 Chemicals (A + B + C) 668 636 (A) Capacity Expansion: Chlor-Alkali & Chlorine Derivati
Slide 39: Balance Sheet (1/2)
Annexure Balance Sheet (1/2) EQUITY AND LIABILITIES Standalone (₹ crore) Consolidated (₹ crore) 31st Mar 2026 31st Mar 2025 31st Mar 2026 31st Mar 2025 Net Worth 55,277 54,398 1,03,470 97,509 Non-Controlling Interest - - 66,395 60,304 Borrowings related to Financial Services - - 1,76,764 1,37,648 Ot
Slide 40: Balance Sheet (2/2)
Annexure Balance Sheet (2/2) ASSETS Standalone (₹ crore) Consolidated (₹ crore) 31st Mar 2026 31st Mar 2025 31st Mar 2026 31st Mar 2025 Net Fixed Assets 23,348 22,373 1,24,429 1,16,649 Capital WIP & Advances 2,066 3,042 18,860 17,825 Right of Use – Lease (including Leasehold Land) 1,351 1,355 3,427
Slide 41: 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 AGAB (Domsjo) Grey
Slide 42: 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 43: Thank You
Thank You Investor Relations grasim.ir@adityabirla.com +91 22 2499 5657