Grasim Industries Ltd

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Grasim Industries Ltd

₹ 2,270 1.98%
19 Apr 11:47 a.m.
grasim.com BSE: 500300 NSE : GRASIM
About

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]

Key Points

Strong Parentage[1]
Grasim is a part of Aditya Birla Group which is one of the largest business groups of India. Group's key companies include Grasim, Hindalco, Ultratech, Aditya Birla Capital, Century, Fashion and Retail, Vodafone etc.

Website BSE NSE
  • Market Cap ₹ 1,51,683 Cr.
  • Current Price ₹ 2,270
  • High / Low ₹ 2,324 / 1,649
  • Stock P/E 103
  • Book Value ₹ 732
  • Dividend Yield 0.46 %
  • ROCE 5.58 %
  • ROE 4.32 %
  • Face Value ₹ 2.00
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Pros

  • Company has been maintaining a healthy dividend payout of 39.3%
  • Debtor days have improved from 30.0 to 21.7 days.

Cons

  • Stock is trading at 3.05 times its book value
  • Company has a low return on equity of 4.39% over last 3 years.
  • Earnings include an other income of Rs.1,113 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

Sector: Textiles Industry: Textiles - Manmade

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
4,394 3,763 4,933 5,785 6,376 7,253 6,745 6,196 6,646 6,238 6,442 6,400
3,583 3,022 4,132 4,863 5,624 5,933 5,789 5,719 6,220 5,564 5,848 5,878
Operating Profit 811 740 801 922 753 1,320 957 477 426 673 594 522
OPM % 18% 20% 16% 16% 12% 18% 14% 8% 6% 11% 9% 8%
63 101 735 74 273 44 667 103 116 116 760 120
Interest 54 58 55 53 81 87 85 89 107 106 107 107
Depreciation 215 202 207 222 283 255 266 276 300 288 292 296
Profit before tax 606 581 1,273 721 662 1,022 1,273 215 135 396 955 239
Tax % 21% 17% 23% 28% -61% 21% 24% -20% 31% 10% 17% 1%
480 482 979 522 1,068 809 964 257 94 355 795 236
EPS in Rs 7.06 7.08 14.39 7.68 15.70 11.88 14.17 3.78 1.37 5.22 11.68 3.47
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
4,974 5,255 5,567 6,300 8,969 10,346 15,786 20,550 16,082 12,386 20,857 26,840 25,726
3,715 4,167 4,706 5,635 7,473 8,189 12,696 16,479 13,946 10,822 17,641 23,660 23,510
Operating Profit 1,258 1,088 861 665 1,496 2,157 3,090 4,071 2,135 1,564 3,216 3,180 2,216
OPM % 25% 21% 15% 11% 17% 21% 20% 20% 13% 13% 15% 12% 9%
463 639 385 322 326 472 179 -1,800 270 527 1,182 930 1,113
Interest 36 39 42 39 147 58 128 199 238 236 247 368 426
Depreciation 144 159 220 263 445 446 628 760 814 828 914 1,097 1,176
Profit before tax 1,542 1,529 985 685 1,230 2,125 2,513 1,312 1,354 1,027 3,237 2,645 1,725
Tax % 24% 20% 9% 23% 21% 27% 30% 61% 5% 12% 6% 20%
1,177 1,226 896 530 971 1,560 1,769 515 1,288 905 3,051 2,124 1,480
EPS in Rs 24.83 25.84 18.88 11.17 20.12 32.33 26.03 7.58 18.95 13.31 44.85 31.21 21.74
Dividend Payout % 18% 17% 22% 31% 22% 16% 23% 89% 20% 65% 22% 31%
Compounded Sales Growth
10 Years: 18%
5 Years: 11%
3 Years: 19%
TTM: -3%
Compounded Profit Growth
10 Years: 8%
5 Years: 1%
3 Years: 11%
TTM: -50%
Stock Price CAGR
10 Years: 17%
5 Years: 21%
3 Years: 20%
1 Year: 32%
Return on Equity
10 Years: 5%
5 Years: 4%
3 Years: 4%
Last Year: 4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 92 92 92 92 93 93 131 132 132 132 132 132 132
Reserves 9,008 10,030 10,736 11,091 13,778 16,138 44,658 41,828 37,560 42,816 48,484 46,823 49,666
720 1,284 1,302 1,115 1,839 701 2,969 3,311 5,158 4,223 4,384 5,352 8,217
1,217 1,660 1,748 2,067 2,085 2,919 5,959 6,524 6,729 7,529 9,636 9,871 10,646
Total Liabilities 11,036 13,066 13,878 14,365 17,796 19,851 53,718 51,794 49,579 54,700 62,636 62,177 68,660
1,549 2,072 3,548 5,188 6,963 6,887 10,817 11,232 12,234 10,966 14,858 16,220 16,161
CWIP 477 2,425 1,807 450 318 375 745 1,567 2,793 4,033 1,743 2,926 5,555
Investments 6,830 6,224 5,604 5,350 7,100 8,996 35,547 31,128 27,542 33,640 38,691 33,897 37,657
2,181 2,345 2,919 3,377 3,416 3,592 6,609 7,867 7,009 6,060 7,345 9,135 9,287
Total Assets 11,036 13,066 13,878 14,365 17,796 19,851 53,718 51,794 49,579 54,700 62,636 62,177 68,660

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
788 854 62 448 1,341 2,259 2,353 2,556 3,315 2,402 2,656 2,319
-463 -1,157 221 27 -697 -844 -1,910 -2,263 -4,277 -875 -1,896 -2,190
-328 309 -274 -448 -663 -1,404 -451 -299 993 -1,509 -777 -165
Net Cash Flow -4 5 10 27 -19 12 -9 -7 31 18 -17 -36

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 37 35 40 40 40 42 60 62 66 39 30 22
Inventory Days 102 113 149 146 132 131 129 110 131 143 153 127
Days Payable 48 49 55 49 49 84 113 89 132 174 180 133
Cash Conversion Cycle 91 98 134 137 124 89 77 83 65 8 2 16
Working Capital Days 40 35 66 72 56 29 39 43 25 -33 -20 -14
ROCE % 15% 11% 8% 5% 10% 13% 9% 8% 4% 2% 6% 6%

Shareholding Pattern

Numbers in percentages

6 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Feb 2024
42.09% 42.26% 42.54% 42.76% 42.76% 42.75% 42.75% 42.75% 42.75% 42.75% 42.75% 43.05%
15.10% 14.96% 12.81% 12.71% 11.49% 12.03% 12.58% 12.45% 12.29% 12.17% 12.52% 12.43%
15.99% 15.30% 14.71% 14.43% 15.35% 16.86% 16.48% 16.82% 16.82% 16.90% 16.70% 16.76%
26.62% 27.23% 29.68% 29.87% 30.18% 28.06% 27.88% 27.69% 27.82% 27.80% 27.69% 27.39%
0.20% 0.26% 0.25% 0.23% 0.22% 0.28% 0.31% 0.30% 0.30% 0.35% 0.33% 0.32%
No. of Shareholders 2,36,8232,40,2822,51,4222,62,6502,79,5202,57,3552,47,0652,47,2652,43,2652,39,7802,34,4462,41,375

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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