Grasim reports strong Q2FY26 results with 17% revenue growth; paints and cement businesses drive expansion
Grasim Industries reported strong Q2FY26 consolidated revenue of ₹39,900 Cr (up 17% YoY) and PAT of ₹553 Cr (up 76% YoY), driven by Building Materials and Chemicals growth, and new business expansion.
The announcement highlights strong financial performance across key metrics, significant capacity expansion plans for Cement and Paints, and positive strategic developments in new and existing businesses, indicating substantial potential for increased shareholder value and market position.
The company reported significant year-on-year growth in consolidated revenue (17%), EBITDA (29%), and PAT (76%). New businesses like Paints and B2B E-commerce are showing robust growth, and core businesses like Cement and Chemicals are performing well, supported by strategic capacity expansions and a positive outlook for future growth.
* Grasim Industries Limited announced its unaudited financial results (Standalone and Consolidated) for the quarter and half year ended 30th September 2025. * Consolidated Financial Highlights (Q2FY26 vs Q2FY25): * Revenue increased by 17% YoY to ₹39,900 crore. * EBITDA grew by 29% YoY to ₹5,217 crore, primarily led by higher profitability in the Cement and Chemicals businesses. * PAT grew by 76% YoY to ₹553 crore. * Standalone Financial Highlights (Q2FY26): * Revenue reached an all-time high of ₹9,610 crore, up 26% YoY, driven by robust growth from new businesses: Paints and B2B E-commerce, coupled with stable core businesses: Cellulosic Fibres and Chemicals. * Key Business Highlights: * Cellulosic Fibres: Revenue stood at ₹4,149 crore, up 1% YoY. Specialty sales volumes were up 53% YoY. EBITDA declined by 29% YoY to ₹350 crore due to higher input prices. * Chemicals: Overall Chemicals business revenue stood at ₹2,399 crore, up 17% YoY. EBITDA increased by 34% YoY to ₹365 crore, driven by higher volumes in Chlorine Derivatives and better ECU realisations. * Building Materials: Segment revenue of ₹22,253 crore, up 28% YoY. EBITDA stood at ₹2,950 crore, up 55% YoY. * Cement (UltraTech): Announced capacity expansion plans aiming for a total grey cement capacity (India + Overseas) of 240.8 mtpa by March 2028. Consolidated sales volumes for Q2FY26 were 33.85 MT, up 6.9% YoY. Operating EBITDA/Mt grew by 32% YoY at ₹966. * Birla Opus (Paints): Achieved the 2nd largest Decorative Paints industry capacity share of ~24% with the commissioning of its 6th plant at Kharagpur in October 2025, reaching a total capacity of 1,332 MLPA. Distribution network expanded to over 10,000 towns. Cumulative capex for paints business stood at ₹9,727 crore till September 2025. * Birla Pivot (B2B E-commerce): Revenue grew by 15% QoQ. The business remains on track to achieve revenue of ₹8,500 crore ($1 billion) by FY27. * Financial Services (Aditya Birla Capital): The overall lending portfolio (NBFC + HFC) increased by 29% YoY to ₹1,77,855 crore. Total AUM grew by 10% YoY to ₹5,50,240 crore. * Other Businesses: Revenue stood at ₹996 crore and EBITDA at ₹249 crore, led by robust performance in the Renewables business. Renewable cumulative installed capacity stood at 1.93 GWp, nearly double the capacity in Q2FY25. * Capital Expenditure: Capital expenditure for Q2FY26 stood at ₹461 crore. In Cellulosic Fibres, Phase-1 of 55 KTPA (out of total 110 KTPA) is progressing well, with commissioning targeted by mid-2027. * Sustainability: Grasim’s Cellulosic Fibres business achieved the highest rating of 'Dark Green Shirt' for the sixth consecutive year in Canopy’s Hot Button Report 2025. * Outlook: Grasim Industries is well-positioned to gain considerably from India’s broad-based economic momentum, with its diversified portfolio and strategic capital deployment aligning with the Government’s agenda for a Viksit Bharat.
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