Grasim Industries Reports Strong Q2FY26 Consolidated Performance, Driven by Cement and Chemicals
Grasim Industries reported strong Q2FY26 consolidated revenue up 17% and EBITDA up 29%, driven by Cement and Chemicals. The company is expanding capacities in Paints and B2B E-commerce, showing positive growth across segments.
This announcement is a comprehensive investor presentation detailing the company's financial results for Q2FY26 and H1FY26, segment-wise performance, strategic initiatives, and future capex plans. Such detailed operational and financial updates are highly material for investors, influencing valuation and sentiment.
The company reported strong consolidated revenue and EBITDA growth, significant PAT increase, and positive performance across key segments like Cement, Chemicals, Paints, and B2B E-commerce. Strategic capacity expansions and market share gains indicate a positive outlook despite some temporary segment-specific challenges.
* Grasim Industries Limited reported robust consolidated financial results for the quarter and half year ended 30th September 2025 (Q2FY26). * Consolidated Performance (Q2FY26 vs Q2FY25): * Revenue from Operations: ₹39,900 crore, a 17% Year-on-Year (YoY) increase. * EBITDA: ₹5,217 crore, a 29% YoY increase, primarily driven by superior performance in the Cement and Chemicals businesses, partially offset by investments in the Paints business. * PAT (Owner’s Share): ₹553 crore, a significant 76% YoY growth. * Standalone Performance (Q2FY26 vs Q2FY25): * Revenue from Operations: ₹9,610 crore, up 26% YoY. * EBITDA: ₹1,786 crore, up 10% YoY. * PAT: ₹805 crore, up 12% YoY. * Segment Highlights: * Cellulosic Fibres: Revenue increased by 1% YoY. EBITDA declined by 29% YoY due to higher key input prices and temporary logistics issues at a key plant, which have now normalized. Specialty Fibres volume mix increased to 24%, and Cellulosic Fashion Yarn (CFY) volumes grew by 3% YoY. * Chemicals: Revenue rose by 17% YoY to ₹2,399 crore. EBITDA increased by 34% YoY to ₹365 crore, boosted by higher ECU realization and volume growth in Chlorine Derivatives. Specialty Chemicals sales volume grew by 34% YoY. The Lubrizol CPVC Resin Project (Phase 1 of 50 KTPA) and Epichlorohydrin (ECH) 50 KTPA Plant are progressing with mechanical completion targeted by Q3FY26. * Building Materials (Cement - UltraTech): Total grey cement capacity reached 192.3 Mn TPA, with an expansion plan aiming for 240.8 mtpa by March 2028. Consolidated sales volume grew by 6.9% YoY to 33.85 mtpa. Operating EBITDA/ton of UltraTech's existing operations increased by 32% YoY to ₹966. * Building Materials (Paints - Birla Opus): Achieved the second-largest Decorative Paints industry capacity share of approximately 24% with the commissioning of the 6th plant at Kharagpur in October 2025. Birla Opus continues to gain market share, expanding its distribution network to over 10,000 towns. Total capex spent for the Paints business stood at ₹9,727 crore as of 30th September 2025. * Building Materials (B2B E-commerce - Birla Pivot): Revenue grew by 15% Quarter-on-Quarter (QoQ), on track to achieve a ₹8,500 crore ($1 billion) revenue target by FY27. The platform has expanded its product portfolio to over 40,000 SKUs and 300+ brands, delivering to more than 375 cities. * Financial Services (Aditya Birla Capital): Total Lending portfolio increased by 29% YoY to ₹1,77,855 crore. Total Assets Under Management (AUM) grew by 10% YoY to ₹5,50,240 crore. The D2C platform, Aditya Birla Capital Digital (ABCD), recorded over 7.6 million customer acquisitions. Revenue grew by 3% YoY to ₹10,569 crore, and PAT increased by 8% YoY to ₹823 crore. * Other Businesses: Revenue grew by 28% YoY to ₹996 crore, with EBITDA at ₹249 crore, largely driven by the Renewables business. Renewables cumulative installed capacity increased to 1.93 GWp. Textiles business revenue grew by 6% YoY. * Sustainability Highlights: The company received the highest rating ('Dark Green Shirt') in Canopy's Hot Button Report 2025 for its Cellulosic Fibre Business and various awards for operational health, safety, and environmental management. Renewable capacity power share increased to 24% in H1FY26, and recycled water usage to 49% in H1FY26. * Capex Plan: Standalone Capex for FY26 is planned at ₹2,263 crore, with significant allocations for Cellulosic Fibres, Chemicals, and New High Growth Businesses (Paints and B2B E-commerce).
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