Grasim Industries Ltd. · NSE:GRASIM
Grasim Industries — Investor Presentation (September 2025)
59 slides from Grasim Industries's investor presentation, September 2025
Slide 1: Investor Presentation September 2025
Investor Presentation September 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$ 67 billion* conglomerate Consolidated market cap of US$ 112# billion OUR KEY GROUP COMPANIES Across 6 continents and 41 countries 42% of revenues from outside India operations 340+ state-of-the-art manufacturing units globally 227,500+ employees of over 100 nationalities
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: Stronglomerate: key strengths
STRONGLOMORATE : KEY STRENGTHS 1 2 3 4 A Legacy of Track record of Diversified Sustainable Values and Trust creating large Businesses with Manufacturing growing Stable cashflow Businesses and generation Increasing share of Brands Renewable power Operating history Revenue growth Positive Free of 77+
Slide 6: Stronglomerate: key strengths
STRONGLOMORATE : KEY STRENGTHS 5 6 7 History of Strong Balance Value Creation continuous Sheet with Dividend “AAA/Stable” Distribution rating ~1.9x/~1.6x For outperformance# Consolidated in stock returns vs. >62 years Debt*/Equity benchmark^ over 0.29x 5Yr/10Yr period * Excluding Borrowing related t
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 businesses
LEADERSHIP ACROSS 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 Aditya Birla Leading producer of producer of Indi
Slide 10: Track record of creating large businesses & 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 Services Business acquired on merger of Ad
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) Primary building blocks for Traceability of Pulp source from formulated p
Slide 12: Sustainable business practices and initiatives
SUSTAINABLE BUSINESS PRACTICES AND INITIATIVES Environment Sustainability Ratings ▪ 93% of waste is recycled, reused and recovered 13 ZLD Sites ▪ Committed to achieving net-zero emissions by (incl. 1 under commissioning) 2050 ▪ Sourcing Pulp from sustainably managed forests ▪ Zero liquid discharge (
Slide 13: Capital allocation focus on growth
CAPITAL ALLOCATION FOCUS ON GROWTH Consolidated Capex# (₹ Cr.) ₹13,832 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 over FY21 to FY25
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 improving level automation and lean renewable energy mix systems 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 1,53,986 20,837 21,713 1,30,978 20,023 1,17,627 17,723* FY23 FY24 FY25 TTM FY23 FY24 FY25 TTM Revenue growth led by robust performance of Building Materials, Chemicals and Financial EBITDA growth led by superior performance Se
Slide 17: Consistent growth leading to strong financials
CONSISTENT GROWTH LEADING TO STRONG FINANCIALS CONSOLIDATED As on As on As on Particulars 31st Mar 2024 31st Mar 2025 30th Jun 2025 Net worth (₹ Cr.) 88,652 97,509 99,117 Debt - Equity Ratio 0.97x 1.16x 1.18x Debt* - Equity Ratio 0.19x 0.29x 0.29x Net debt* (₹ Cr.) 15,436 35,402 35,138 Total debts t
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) 82 87 82 1.91 1.72 1.72 1.64 1.60 1.52 20 0.94 12 14 0.90 0.83 Q1FY25 Q4FY25 Q1FY26 Q1FY25 Q4FY25 Q1FY26 China Operating Rates China Plant Inventory CSF - CCF Cotton (Cotlook) PSF China operating
Slide 22: Cellulosic fibres: key operational metrics
CELLULOSIC FIBRES : KEY OPERATIONAL METRICS CELLULOSIC STAPLE FIBRE (CSF) SALES (KT) CELLULOSIC FASHION YARN (CFY) SALES (KT) 11.1 212 207 209 10.0 9.5 Q1FY25 Q4FY25 Q1FY26 Q1FY25 Q4FY25 Q1FY26 Domestic CSF sales CFY volume grew by volumes grew by 2% Specialty Fibres 6% YoY, however YoY though overa
Slide 23: Cellulosic fibres: financial performance
CELLULOSIC FIBRES : FINANCIAL PERFORMANCE REVENUE (₹ Cr.) EBITDA (₹ Cr.) 4,051 4,043 405 3,787 322 293 Q1FY25 Q4FY25 Q1FY26 Q1FY25 Q4FY25 Q1FY26 CFY realisations Revenue grew by 7% High input prices remain impacted due YoY led by stable partially absorbed by to weak demand realisation on the company
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 1,530 1,126 25 79 1,505 1,047 246 CHEMICALS CHLORINE DERIVATIVES PORTFOLIO Chlor-Alkali Chlorine Derivatives Specialty Chemicals Existing Capacity (KTPA) Capacity Expansion (KTPA) REVENUE BREAK-UP (%) SPECIALTY CHEMICALS END-
Slide 26: Chemicals: focus areas
CHEMICALS : FOCUS AREAS CHLORINE INTEGRATION* LEVELS (%) 65% 63% 62% 60% 58% Largest producer of Specialty Chemicals SPECIALTY (Epoxy Resins and Curing Agents) in India. CHEMICALS FY22 FY23 FY24 FY25 Q1FY26 Leverage existing Epichlorohydrin (ECH) 50 KTPA Plant capacities of CHLORINE construction at
Slide 27: Specialty chemicals: epoxy resins and curing agents
SPECIALTY CHEMICALS : EPOXY RESINS 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 manufactu
Slide 28: Chlor-alkali: key operational metrics
CHLOR-ALKALI : KEY OPERATIONAL METRICS CAUSTIC SODA SALES (KT) GRASIM – ECU (₹/TON) 35,137 35,911 290 303 32,529 282 Q1FY25 Q4FY25 Q1FY26 Q1FY25 Q4FY25 Q1FY26 Caustic Soda sales Caustic Soda ECU realisation stood volume was up by 8% international average flattish on sequential YoY led by stable spot
Slide 29: Chemicals: financial performance
CHEMICALS : FINANCIAL PERFORMANCE REVENUE (₹ Cr.) EBITDA (₹ Cr.) 422 2,302 2,391 2,066 310 296 Q1FY25 Q4FY25 Q1FY26 Q1FY25 Q4FY25 Q1FY26 Revenue growth led Specialty Chemicals Chemicals EBITDA by higher Caustic sales volumes stood at growth of 36% YoY soda & Specialty record high levels, as led by h
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) 1,340-1,350 1,090-1,100 30.8% 1000-1010 955-965 790-800 51.1% 1.6% 420-470 430-440 1.2% 360-380 360-38
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: Q1FY26 performance update
CEMENT: Q1FY26 PERFORMANCE UPDATE Consolidated volume grew by 9.7% YoY to 36.8 million Green Power Mix has tons (incl. India Cements increased to 39.5% vs. Domestic grey cement Domestic operating and Kesoram) 27.9% in Q1FY25. realization grew by 2.4% YoY EBITDA/ton grew by 37% to ₹5,165/Mt YoY at ₹1
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 (FY26e) 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 8000+ 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: Q1FY26 performance update
Double digit Revenue Market share^, Birla Opus is India’s #3 Decorative Paints Brand^ by revenue Trial Production commenced at Total capex spent stood at 6th plant in Kharagpur, ₹9,555 Cr. as on 30th June commercial launch on track by 2025. Project executed end of Q2FY26. Capacity share without any
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: Q1FY26 performance update
BIRLA PIVOT : Q1FY26 PERFORMANCE UPDATE Enhancement of Revenue grew by high Revenue mix continues logistics platform to Driving digital adoption single digit QoQ. On to improve due to new deliver a B2C-like across user base track to achieve annual product categories fulfillment experience, through i
Slide 44: Building materials: financial performance
BUILDING MATERIALS : FINANCIAL PERFORMANCE REVENUE (₹ Cr.) EBITDA (₹ Cr.) 25,232 4,406 4,291 23,733 19,450 2,889 Q1FY25 Q4FY25 Q1FY26 Q1FY25 Q4FY25 Q1FY26 Cement revenue EBIDTA grew by 48% YoY Revenue grew by 22% grew by 13% YoY YoY led by all-round led by Cement business with incremental partially
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 ₹ 1,65,832 Cr. ₹ 5,53,504 Cr. ₹ 4,951Cr. Total Lending Portfolio1 Total AUM2 Gross Premium3 ₹ 84,879 Cr. ₹ 4,03,479 Cr. 5.1%/5.1% Retail SME
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 1006 co-located branches Dedicated customer service locations across 258 locations managers for cross sell On
Slide 48: ABCD D2C platform: 6.4 Mn customers
ABCD D2C PLATFORM : 6.4 Mn Customers ABCD APP & WEBSITE PROVIDES COMPLETE OMNICHANNEL EXPERIENCE TO CUSTOMERS Everything Finance As Simple As ABCD What New on ABCD App Forex 6.4Mn Customers* 25+ Product categories Forex Card, Currency SimplInvest Single SIP to manage all asset classes PPI Gift Card
Slide 49: Aditya Birla Capital: financial performance
ADITYA BIRLA CAPITAL : FINANCIAL PERFORMANCE TOTAL LENDING BOOK* (₹ Cr.) ASSET QUALITY TREND# (₹ Cr.) 1,65,832 1,57,404 107,292 1,24,118 1,27,948 1,27,705 2.54% 2.24% 2.27% 1.54% 1.43% 1.91% 95.55% 96.22% 96.30% Q1FY25 Q4FY25 Q1FY26 Q1FY25 Q4FY25 Q1FY26 Gross Stage 1 Gross Stage 2 Gross Stage 3 TOTA
Slide 50: Aditya Birla Capital: financial performance
ADITYA BIRLA CAPITAL : FINANCIAL PERFORMANCE REVENUE# (₹ Cr.) PAT*^ (₹ Cr.) 833 803 12,197 715 9,488 8,807 Q1FY25 Q4FY25 Q1FY26 Q1FY25 Q4FY25 Q1FY26 Revenue grew by 8% YoY led by growth across all business segments: NBFC up by PAT^ grew by 12% YoY with focus on 13% YoY, Housing Finance grew by 65% c
Slide 51: Others
OTHERS Grasim Industries Limited Investor Presentation 51
Slide 52: Other businesses: financial performance
OTHER BUSINESSES* : FINANCIAL PERFORMANCE REVENUE* (₹ Cr.) EBITDA* (₹ Cr.) 898 865 154 798 139 109 Q1FY25 Q4FY25 Q1FY26 Q1FY25 Q4FY25 Q1FY26 Renewable business Other business segment EBITDA grew by 66% YoY Insulator business Textiles business revenue grew by 8% to ₹146 Cr. (incl. treasury revenue gr
Slide 53: Appendix
APPENDIX
Slide 54: Consolidated income statement
CONSOLIDATED INCOME STATEMENT Particulars (₹ Cr.) 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 25 1,831 -
Slide 55: Standalone income statement
STANDALONE INCOME STATEMENT Particulars (₹ Cr.) 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) (70) (254) A
Slide 56: Standalone capex plan
STANDALONE CAPEX PLAN Capex Spent Planned Capex Particulars (₹ Cr.) Q1FY26 FY26 Cellulosic Fibres Business 85 839 Capacity Expansion (including debottlenecking) 11 447 Modernisation and Maintenance Capex 75 392 Chemicals Business (A+B+C) 183 668 (A) Capacity Expansion - Chlor-Alkali & Chlorine Deriv
Slide 57: Balance sheet
Standalone (₹ Cr.) BALANCE SHEET Consolidated (₹ Cr.) 30th June'25 31st Mar'25 EQUITY & LIABILITIES 30th June'25 31st Mar'25 54,340 54,398 Net Worth 99,117 97,509 - - Non Controlling Interest 61,830 60,304 - - Borrowings related to Financial Services 1,43,365 1,37,648 11,413 11,121 Other Borrowings
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
Grasim Industries — Investor Presentation (September 2025) on 6ix