Grasim Industries Ltd

Grasim Industries Ltd

₹ 2,186 -0.85%
28 Feb - close price
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.

  • Market Cap 1,46,110 Cr.
  • Current Price 2,186
  • High / Low 2,245 / 1,521
  • Stock P/E 26.0
  • Book Value 1,222
  • Dividend Yield 0.46 %
  • ROCE 9.97 %
  • ROE 8.85 %
  • Face Value 2.00

Pros

Cons

  • Company has a low return on equity of 8.97% over last 3 years.
  • Dividend payout has been low at 10.7% of profits over last 3 years

* 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

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
21,000 24,401 19,919 22,567 24,402 28,811 28,042 27,486 28,638 33,462 31,065 30,221 31,965
15,925 18,501 14,596 17,672 19,531 23,470 22,059 22,894 23,775 27,332 24,708 24,173 25,073
Operating Profit 5,075 5,901 5,323 4,896 4,871 5,341 5,983 4,591 4,863 6,131 6,357 6,048 6,893
OPM % 24% 24% 27% 22% 20% 19% 21% 17% 17% 18% 20% 20% 22%
433 166 442 394 231 581 221 254 2,972 308 296 285 256
Interest 1,371 1,343 1,266 1,176 1,146 1,188 1,246 1,373 1,608 1,816 2,032 2,226 2,433
Depreciation 1,007 1,043 991 1,017 1,026 1,128 1,089 1,116 1,139 1,207 1,183 1,245 1,244
Profit before tax 3,130 3,681 3,508 3,097 2,931 3,606 3,869 2,356 5,087 3,415 3,438 2,862 3,472
Tax % 31% 29% 30% 34% 9% -13% 29% 36% 12% 31% 25% 29% 25%
2,157 2,617 2,448 2,032 2,655 4,070 2,759 1,509 4,455 2,356 2,576 2,024 2,603
EPS in Rs 20.42 25.22 24.52 19.98 25.66 40.82 28.42 14.83 36.97 20.12 23.17 17.10 22.25
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
25,245 27,909 28,331 31,734 34,487 36,068 55,894 77,200 68,252 76,404 95,701 117,627 126,713
19,666 21,986 23,416 26,590 28,576 28,682 44,281 60,560 57,880 57,769 75,270 96,038 101,286
Operating Profit 5,579 5,924 4,915 5,144 5,911 7,387 11,612 16,640 10,373 18,635 20,431 21,589 25,428
OPM % 22% 21% 17% 16% 17% 20% 21% 22% 15% 24% 21% 18% 20%
742 824 576 530 1,320 1,076 410 -1,846 7,076 1,130 1,648 3,733 1,145
Interest 314 324 447 667 718 702 3,663 6,060 6,890 5,723 4,776 6,044 8,507
Depreciation 1,154 1,252 1,457 1,563 1,834 1,808 2,724 3,571 4,004 4,033 4,161 4,552 4,879
Profit before tax 4,852 5,171 3,586 3,443 4,679 5,952 5,635 5,163 6,554 10,009 13,143 14,727 13,186
Tax % 27% 28% 20% 30% 26% 29% 35% 47% -1% 30% 15% 25%
3,595 3,778 2,954 2,582 3,455 4,246 3,688 2,745 6,639 6,987 11,206 11,078 9,560
EPS in Rs 55.85 56.99 43.66 36.75 51.15 65.64 39.43 24.91 64.90 63.30 110.96 100.33 82.64
Dividend Payout % 8% 8% 9% 9% 9% 8% 15% 27% 6% 14% 9% 10%
Compounded Sales Growth
10 Years: 15%
5 Years: 16%
3 Years: 20%
TTM: 12%
Compounded Profit Growth
10 Years: 11%
5 Years: 19%
3 Years: 11%
TTM: -30%
Stock Price CAGR
10 Years: 18%
5 Years: 23%
3 Years: 22%
1 Year: 39%
Return on Equity
10 Years: 8%
5 Years: 8%
3 Years: 9%
Last Year: 9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 16,935 19,565 21,523 23,048 27,336 31,294 57,230 57,888 56,501 65,362 75,567 78,610 83,039
Preference Capital 19 0 0 0 0 0 56 69 11 11 11 11
7,038 9,550 9,681 11,930 12,505 9,213 67,014 84,418 84,766 79,067 74,733 103,027 121,928
12,466 14,916 16,441 18,963 19,642 22,147 83,523 98,689 102,783 122,788 138,718 155,053 166,471
Total Liabilities 36,531 44,123 47,736 54,033 59,576 62,747 207,899 241,127 244,181 267,349 289,149 336,823 371,569
17,549 20,561 25,209 31,828 34,271 34,786 69,257 87,129 87,736 85,023 88,996 94,896 96,865
CWIP 2,461 6,084 4,045 2,755 1,788 1,297 2,290 2,766 3,904 5,769 6,615 7,778 12,765
Investments 7,876 8,011 7,611 7,255 10,601 14,200 65,995 62,747 66,337 88,017 96,766 105,355 81,865
8,645 9,467 10,872 12,194 12,916 12,464 70,356 88,484 86,204 88,540 96,771 128,793 180,075
Total Assets 36,531 44,123 47,736 54,033 59,576 62,747 207,899 241,127 244,181 267,349 289,149 336,823 371,569

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
4,350 4,242 3,549 4,594 5,868 7,288 -4,140 -1,659 16,620 15,075 7,038 -12,685
-3,629 -5,687 -2,336 -2,359 -4,515 -3,509 1,546 -2,212 -11,364 -7,146 -1,053 -13,712
-679 1,348 -1,046 -2,278 -1,365 -3,799 3,449 4,158 -3,418 -8,003 -6,733 26,469
Net Cash Flow 42 -97 168 -42 -11 -20 856 287 1,838 -75 -748 72

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 25 28 32 30 32 30 34 32 31 21 21 18
Inventory Days 205 221 209 207 168 163 170 154 179 179 200 180
Days Payable 176 169 160 102 97 117 146 133 172 229 239 216
Cash Conversion Cycle 54 80 82 136 103 76 58 53 38 -29 -18 -17
Working Capital Days 10 4 21 -8 -19 -7 39 35 -18 17 14 33
ROCE % 17% 15% 10% 9% 11% 13% 10% 8% 8% 9% 9% 10%

Shareholding Pattern

Numbers in percentages

5 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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