Grasim Industries reported its Q2 FY’26 earnings, highlighting a consolidated revenue increase of 8% year-over-year. The company is making strides in its new ventures, with Birla Opus becoming a significant player in the decorative paints sector and Birla Pivot expanding its B2B e-commerce platform. Grasim’s diversified business model and strategic investments in high-growth sectors continue to drive its growth trajectory.
Financial Performance
Grasim Industries has shown consistent revenue growth, marking 21 consecutive quarters of year-on-year increases. The trailing 12-month consolidated revenues reached INR1,59,663 crores, up 8% compared to FY ’25. Standalone revenue also saw a significant increase, reaching INR9,610 crores, a 26% year-on-year growth.
Birla Opus Paints
Birla Opus has emerged as a strong contender in the decorative paints market, now holding the position of the second-largest decorative paints company with 24% of the industry’s capacity. In October 2025, production commenced at their sixth and largest plant in Kharagpur, West Bengal, adding a capacity of 236 million liters per annum. The brand’s focus remains on bridging the gap between volume market share and capacity share, with premium and luxury products contributing upwards of 65% of revenue.
Birla Pivot B2B E-Commerce
Birla Pivot is expanding its reach and product portfolio to become a full-stack raw material procurement platform, targeting a USD200 billion B2B e-commerce market by 2030. The platform now includes polymers, solvents, textile chemicals, and nonferrous metals. Revenues in Q2 FY’26 were up sequentially by 15% despite monsoon conditions, and the company aims to achieve INR8,500 crores or $1 billion in revenue by FY’27.
Segmental Highlights
The Cellulosic Fiber business reported stable fiber utilization rates in China improving to 89% during Q2 FY’26. The total sales volume for Cellulosic Staple Fiber (CSF) was down 5% year-on-year, impacted by logistical issues, now resolved, at Vilayat. Cellulosic Fashion Yarn sales volume increased by 3% year-on-year driven by festive demand. The Chemicals business achieved two-year high revenue driven by performance across caustic soda, chlorine derivatives and specialty chemicals.
Sustainability and Capex
Grasim has outlined a capex of INR2,263 crores for FY ’26, with INR941 crores deployed in the first half. The company’s Birla Cellulosic Fiber division received the highest rating in the Canopy’s Hot Button Report for the sixth consecutive year, highlighting its focus on sustainability. Net debt decreased by INR292 crores, standing at INR6,861 crores as of September 30, 2025.
Source: BSE
