Grasim Industries Ltd

About [ edit ]

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. #

Key Points [ edit ]
  • Market Cap 89,955 Cr.
  • Current Price 1,367
  • High / Low 1,475 / 494
  • Stock P/E 20.7
  • Book Value 916
  • Dividend Yield 0.29 %
  • ROCE 10.5 %
  • ROE 8.85 %
  • Face Value 2.00

Pros

Cons

  • Tax rate seems low
  • Company has a low return on equity of 6.54% for last 3 years.

Peer comparison

Sector: Textiles Industry: Textiles - Manmade

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
17,363 16,761 16,882 19,471 22,431 20,103 18,400 18,617 19,902 13,611 17,944 20,986
14,161 12,836 13,548 15,500 17,565 14,709 14,283 14,780 15,810 10,311 13,528 15,907
Operating Profit 3,202 3,926 3,334 3,971 4,866 5,394 4,117 3,837 4,091 3,300 4,416 5,080
OPM % 18% 23% 20% 20% 22% 27% 22% 21% 21% 24% 25% 24%
Other Income 117 218 -2,060 284 148 173 665 272 -962 185 318 422
Interest 1,207 1,296 1,391 1,610 1,671 1,760 1,764 1,670 1,712 1,555 1,455 1,365
Depreciation 771 767 806 916 953 1,009 993 994 1,037 986 1,007 1,007
Profit before tax 1,342 2,080 -922 1,729 2,391 2,798 2,025 1,446 380 945 2,272 3,130
Tax % 36% 33% -41% 35% 34% 34% 27% 28% -507% 34% 30% 31%
Net Profit 720 1,116 -1,446 937 1,144 1,237 1,002 680 1,506 237 967 1,384
EPS in Rs 10.95 16.97 -21.99 14.25 17.39 18.82 15.23 10.34 22.89 3.60 14.69 21.03

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
18,200 19,768 21,550 25,245 27,909 28,331 31,734 34,487 36,068 55,894 77,200 77,625 72,443
13,867 13,980 16,555 19,666 21,986 23,416 26,599 28,111 28,683 44,681 60,719 60,241 55,556
Operating Profit 4,332 5,787 4,995 5,579 5,924 4,915 5,135 6,377 7,385 11,212 16,481 17,384 16,887
OPM % 24% 29% 23% 22% 21% 17% 16% 18% 20% 20% 21% 22% 23%
Other Income 447 871 399 742 824 576 539 855 1,077 810 -1,686 229 -37
Interest 307 335 407 314 324 447 667 718 702 3,663 6,060 6,926 6,087
Depreciation 866 995 1,138 1,154 1,252 1,457 1,563 1,834 1,808 2,724 3,571 4,041 4,037
Profit before tax 3,607 5,329 3,849 4,852 5,171 3,586 3,443 4,679 5,952 5,635 5,163 6,647 6,726
Tax % 27% 29% 25% 27% 28% 20% 30% 26% 29% 35% 47% -0%
Net Profit 2,187 3,096 2,279 2,647 2,704 2,072 1,744 2,468 3,167 2,679 1,693 4,425 4,093
EPS in Rs 47.69 67.51 49.71 57.74 58.92 45.13 37.95 52.91 67.85 40.75 25.75 67.27 62.21
Dividend Payout % 15% 9% 8% 8% 8% 9% 9% 9% 8% 15% 27% 6%
Compounded Sales Growth
10 Years:15%
5 Years:20%
3 Years:29%
TTM:-9%
Compounded Profit Growth
10 Years:6%
5 Years:26%
3 Years:18%
TTM:2%
Stock Price CAGR
10 Years:14%
5 Years:15%
3 Years:8%
1 Year:164%
Return on Equity
10 Years:9%
5 Years:7%
3 Years:7%
Last Year:9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
125 128 129 134 92 92 92 93 93 188 201 143 132
Reserves 11,421 12,383 14,444 16,935 19,522 21,478 22,989 27,336 31,291 57,227 57,885 56,518 60,120
Borrowings 5,893 5,599 6,783 7,038 9,550 9,681 11,930 12,505 9,213 67,014 84,418 84,651 68,394
6,844 9,700 10,703 12,466 14,959 16,485 19,022 19,642 22,150 83,526 98,692 102,978 121,205
Total Liabilities 24,268 27,774 32,021 36,531 44,123 47,736 54,033 59,576 62,747 207,899 241,127 244,278 249,852
14,238 15,786 16,851 17,549 20,561 25,209 31,828 34,271 34,786 69,257 87,129 87,568 86,308
CWIP 1,982 773 866 2,461 6,084 4,045 2,755 1,788 1,297 2,290 2,766 3,904 4,273
Investments 3,550 6,676 7,933 7,876 8,011 7,611 7,255 10,601 14,200 65,995 62,747 66,337 52,345
4,498 4,538 6,372 8,645 9,467 10,872 12,194 12,916 12,464 70,356 88,484 86,469 106,925
Total Assets 24,268 27,774 32,021 36,531 44,123 47,736 54,033 59,576 62,747 207,899 241,127 244,278 249,852

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
3,613 4,829 3,546 4,350 4,242 3,549 4,594 5,868 7,288 -4,140 -1,659 16,666
-3,678 -3,615 -3,204 -3,629 -5,687 -2,336 -2,359 -4,515 -3,509 1,546 -2,212 -11,632
2 -1,204 -295 -679 1,348 -1,046 -2,278 -1,365 -3,799 3,449 4,158 -3,185
Net Cash Flow -63 10 48 42 -97 168 -42 -11 -20 856 287 1,849

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 24% 30% 21% 21% 18% 12% 11% 13% 16% 12% 10% 10%
Debtor Days 16 16 24 25 28 32 30 32 30 34 32 27
Inventory Turnover 3.91 3.30 3.60 3.77 3.46 3.28 3.29 3.36 3.64 4.21 4.51 3.89

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
40.09 40.09 40.16 40.15 40.15 40.15 40.11 40.26 40.26 40.92 41.42 41.83
24.89 23.51 21.16 20.00 18.26 16.97 15.98 13.52 12.66 12.55 12.96 14.44
15.11 16.69 17.78 18.67 21.08 22.13 22.64 22.86 21.37 20.26 18.42 16.81
19.91 19.71 20.70 20.97 20.30 20.54 21.06 23.15 25.50 26.07 26.99 26.72
0.00 0.00 0.20 0.20 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.20

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