Grasim Industries Ltd
Grasim Industries Limited is the flagship company of the Aditya Birla group, it ranks amongst India's largest private sector companies. On standalone basis, GIL’s core businesses comprise of viscose Staple fibre (VSF), caustic soda, speciality chemicals, rayon-grade wood pulp (RGWP) with plants at multiple locations. It also has certain other businesses such as fertiliser, textile, etc. [1]
- Market Cap ₹ 1,74,493 Cr.
- Current Price ₹ 2,564
- High / Low ₹ 2,980 / 2,465
- Stock P/E 453
- Book Value ₹ 808
- Dividend Yield 0.39 %
- ROCE 1.52 %
- ROE 0.35 %
- Face Value ₹ 2.00
Pros
- Company has been maintaining a healthy dividend payout of 141%
Cons
- Stock is trading at 3.17 times its book value
- Company has low interest coverage ratio.
- Company has a low return on equity of 2.37% over last 3 years.
- Earnings include an other income of Rs.1,734 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Commodities Construction Materials Cement & Cement Products Cement & Cement Products
Part of Nifty 50 BSE 500 BSE 100 BSE 200 BSE Dollex 200
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 5,567 | 6,300 | 8,969 | 10,346 | 15,786 | 20,550 | 16,082 | 12,386 | 20,857 | 26,840 | 25,847 | 31,563 | 38,191 | |
| 4,706 | 5,635 | 7,473 | 8,189 | 12,696 | 16,479 | 13,946 | 10,822 | 17,641 | 23,649 | 23,531 | 30,402 | 36,740 | |
| Operating Profit | 861 | 665 | 1,496 | 2,157 | 3,090 | 4,071 | 2,135 | 1,564 | 3,216 | 3,190 | 2,316 | 1,161 | 1,451 |
| OPM % | 15% | 11% | 17% | 21% | 20% | 20% | 13% | 13% | 15% | 12% | 9% | 4% | 4% |
| 385 | 322 | 326 | 472 | 179 | -1,800 | 270 | 527 | 1,182 | 920 | 541 | 1,531 | 1,734 | |
| Interest | 42 | 39 | 147 | 58 | 128 | 199 | 238 | 236 | 247 | 368 | 440 | 684 | 850 |
| Depreciation | 220 | 263 | 445 | 446 | 628 | 760 | 814 | 828 | 914 | 1,097 | 1,215 | 1,676 | 2,020 |
| Profit before tax | 985 | 685 | 1,230 | 2,125 | 2,513 | 1,312 | 1,354 | 1,027 | 3,237 | 2,645 | 1,202 | 333 | 316 |
| Tax % | 9% | 23% | 21% | 27% | 30% | 61% | 5% | 12% | 6% | 20% | 21% | 36% | |
| 896 | 530 | 971 | 1,560 | 1,769 | 515 | 1,288 | 905 | 3,051 | 2,124 | 945 | 212 | 224 | |
| EPS in Rs | 18.88 | 11.17 | 20.12 | 32.33 | 26.03 | 7.58 | 18.95 | 13.31 | 44.85 | 31.21 | 14.36 | 3.12 | 3.29 |
| Dividend Payout % | 22% | 31% | 22% | 16% | 23% | 89% | 20% | 65% | 22% | 31% | 70% | 321% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 17% |
| 5 Years: | 14% |
| 3 Years: | 15% |
| TTM: | 30% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | -9% |
| 5 Years: | -34% |
| 3 Years: | -60% |
| TTM: | -49% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 15% |
| 5 Years: | 12% |
| 3 Years: | 17% |
| 1 Year: | -3% |
| Return on Equity | |
|---|---|
| 10 Years: | 4% |
| 5 Years: | 3% |
| 3 Years: | 2% |
| Last Year: | 0% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 92 | 92 | 93 | 93 | 131 | 132 | 132 | 132 | 132 | 132 | 133 | 136 | 136 |
| Reserves | 10,736 | 11,091 | 13,778 | 16,138 | 44,658 | 41,828 | 37,560 | 42,816 | 48,484 | 46,823 | 51,982 | 54,262 | 54,878 |
| 1,302 | 1,115 | 1,839 | 701 | 2,969 | 3,311 | 5,158 | 4,223 | 4,384 | 5,352 | 9,729 | 11,863 | 12,946 | |
| 1,748 | 2,067 | 2,085 | 2,919 | 5,959 | 6,524 | 6,729 | 7,529 | 9,636 | 9,871 | 12,294 | 11,720 | 12,290 | |
| Total Liabilities | 13,878 | 14,365 | 17,796 | 19,851 | 53,718 | 51,794 | 49,579 | 54,700 | 62,636 | 62,177 | 74,138 | 77,981 | 80,251 |
| 3,548 | 5,188 | 6,963 | 6,887 | 10,817 | 11,232 | 12,234 | 10,966 | 14,858 | 16,220 | 17,105 | 23,730 | 23,527 | |
| CWIP | 1,807 | 450 | 318 | 375 | 745 | 1,567 | 2,793 | 4,033 | 1,743 | 2,926 | 7,131 | 2,785 | 3,116 |
| Investments | 5,604 | 5,350 | 7,100 | 8,996 | 35,547 | 31,128 | 27,542 | 33,640 | 38,691 | 33,897 | 39,212 | 39,635 | 41,665 |
| 2,919 | 3,377 | 3,416 | 3,592 | 6,609 | 7,867 | 7,009 | 6,060 | 7,345 | 9,135 | 10,689 | 11,830 | 11,943 | |
| Total Assets | 13,878 | 14,365 | 17,796 | 19,851 | 53,718 | 51,794 | 49,579 | 54,700 | 62,636 | 62,177 | 74,138 | 77,981 | 80,251 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 62 | 448 | 1,341 | 2,259 | 2,353 | 2,556 | 3,315 | 2,402 | 2,656 | 2,319 | 1,778 | -25 | |
| 221 | 27 | -697 | -844 | -1,910 | -2,263 | -4,277 | -875 | -1,896 | -2,190 | -5,586 | -2,883 | |
| -274 | -448 | -663 | -1,404 | -451 | -299 | 993 | -1,509 | -777 | -165 | 3,840 | 2,896 | |
| Net Cash Flow | 10 | 27 | -19 | 12 | -9 | -7 | 31 | 18 | -17 | -36 | 32 | -13 |
| Free Cash Flow | -847 | -21 | 700 | 1,838 | 1,301 | 517 | 645 | 1,219 | 125 | -1,692 | -3,728 | -3,852 |
| CFO/OP | 29% | 87% | 111% | 115% | 93% | 75% | 165% | 165% | 103% | 85% | 79% | -31% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 40 | 40 | 40 | 42 | 60 | 62 | 66 | 39 | 30 | 22 | 28 | 30 |
| Inventory Days | 149 | 146 | 132 | 131 | 129 | 110 | 131 | 143 | 153 | 127 | 141 | 121 |
| Days Payable | 55 | 49 | 49 | 84 | 113 | 89 | 132 | 174 | 180 | 133 | 148 | 97 |
| Cash Conversion Cycle | 134 | 137 | 124 | 89 | 77 | 83 | 65 | 8 | 2 | 16 | 21 | 54 |
| Working Capital Days | 58 | 68 | 16 | 27 | -1 | 10 | -25 | -65 | -42 | -28 | -37 | -11 |
| ROCE % | 8% | 5% | 10% | 13% | 9% | 8% | 4% | 2% | 6% | 6% | 4% | 2% |
Insights
In beta| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Caustic Soda Initial Capacity KTPA |
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| Caustic Soda Sales Volume KT |
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| Cellulosic Staple Fibre (CSF) Sales Volume KT |
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| Cement Sales Volume (Consolidated) Million Tonnes |
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| Cement Capacity (Grey Cement) MTPA |
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| Financial Services Lending Book (NBFC & HFC) ₹ Crore |
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| Paints Installed Capacity MLPA |
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| Paints Reach (Towns) Number |
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| R&D Expenditure (Percentage of Turnover) % |
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Documents
Announcements
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Change In Senior Management Personnel Of The Company
2d - Jayant Dua ceases as Business Head—Renewables & Textiles effective 31 Mar 2026; appointed MD (Designate) UltraTech from 1 Apr 2026.
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Shareholder Meeting / Postal Ballot-Scrutinizer"s Report
28 Mar - Members approved re-appointment of V. Chandrasekaran and Adesh Kumar Gupta, 24 May 2026 to 23 May 2031.
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Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot
28 Mar - Members approved re-appointment of V. Chandrasekaran and Adesh K. Gupta as independent directors (24 May 2026–23 May 2031).
- Closure of Trading Window 23 Mar
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Intimation of Repayment of Commercial Paper (CP)
18 Mar - Full repayment of 10,000 CPs (ISIN INE047A14AS8) ₹500 crore on 18/03/2026; outstanding nil.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
from nse
Concalls
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Feb 2026Transcript PPT
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Nov 2025Transcript PPT REC
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May 2025TranscriptAI SummaryPPT
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Feb 2025Transcript PPT REC
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Mar 2024TranscriptAI SummaryPPT
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Nov 2023TranscriptAI SummaryPPT
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Nov 2019Transcript PPT
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May 2019Transcript PPT
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Apr 2019TranscriptAI SummaryPPT
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Nov 2018Transcript PPT
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Nov 2018TranscriptAI SummaryPPT
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May 2018TranscriptAI SummaryPPT
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Nov 2017Transcript PPT
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May 2017TranscriptAI SummaryPPT
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Aug 2016TranscriptAI SummaryPPT
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Oct 2015TranscriptAI SummaryPPT
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Aug 2015TranscriptAI SummaryPPT
Business Segments
Grasim, the flagship company of the Aditya Birla Group, ranks amongst the top publicly listed companies in India, with a presence across various businesses: [1]