Grasim Industries announced its Q3FY26 financial results, marked by record consolidated revenue of ₹44,312 Cr., a 25% YoY increase. Consolidated EBITDA grew 33% YoY to ₹6,215 Cr., while Adjusted PAT surged 42% YoY. Key highlights include historic sales volumes in Chemicals, accelerated market share gains for Birla Opus Paints, and the Birla Pivot B2B platform crossing a ₹8,500 Cr. ARR milestone.
Grasim Industries Q3FY26 Financial Highlights
Grasim Industries Limited announced its financial results for the quarter ended 31st December 2025 (Q3FY26). The company demonstrated robust performance across its portfolio, leading to a record consolidated revenue of ₹44,312 Cr., marking a significant 25% YoY increase. Consolidated EBITDA for the quarter stood at ₹6,215 Cr., up 33% YoY, driven by operational efficiencies and favorable leverage.
Consolidated Adjusted Profit After Tax (PAT) grew by an impressive 42% YoY, reaching ₹1,168 Cr. (excluding exceptional items). The TTM (Trailing Twelve Months) consolidated revenues reached ₹1,68,597 Cr., reflecting 14% growth compared to FY25.
Standalone Performance Milestone
Standalone revenue for the quarter crossed a historic milestone, achieving ₹10,432 Cr., representing a 28% YoY jump. This growth was supported by strong results from Paints and B2B E-commerce, alongside stable core businesses. Standalone EBITDA saw substantial growth, rising 57% YoY to ₹585 Cr., despite initial investments in new ventures like ‘Birla Opus’ and ‘Birla Pivot’.
Segment-wise Performance Deep Dive
Cellulosic Fibres (CSF & CFY)
The China CSF market saw operational recovery, with levels reaching 94%. CSF sales volume grew 7% YoY to 219KT, primarily boosted by exports. Segment revenue grew 9% YoY to ₹4,298 Cr., and EBITDA increased sharply by 48% YoY to ₹491 Cr. due to efficiency gains and lower input costs.
Chemicals (Chlor-Alkali, Derivatives)
Caustic soda sales volumes hit an all-time high of 313 KT, up 4% YoY, supported by stable domestic demand, even as international spot prices fell. Overall Chemicals revenue grew 5% YoY to ₹2,345 Cr. EBITDA was slightly down 4% YoY to ₹315 Cr. due to lower realizations in Specialty Chemicals.
Building Materials (Cement, Paints, B2B E-commerce)
This segment reported segment revenue of ₹25,173 Cr., surging 30% YoY. EBITDA for the segment was ₹3,737 Cr., up 33% YoY.
- Cement (UltraTech): Capacity reached 194.06 mtpa, expanding toward a target of 240.8 mtpa by Mar-28. Sales volumes grew 15% YoY to 38.87 MT. Operating EBITDA/Mt stood at ₹1,051 (up 15% YoY). The green power mix reached 42.1% for the quarter.
- Paints (Birla Opus): Market share gains accelerated, with QoQ revenue growth nearly 3 times the industry rate. The brand strengthened its #3 position nationally, backed by distribution expansion into over 10,400+ towns.
- B2B E-commerce (Birla Pivot): Crossed the ₹8,500 Cr. Annualised Revenue Run-rate (ARR) milestone ahead of FY27 guidance, driven by momentum in new product categories.
Financial Services (Aditya Birla Capital)
Revenue grew 27% YoY to ₹11,948 Cr. The overall lending portfolio (NBFC + HFC) increased 30% YoY to ₹1,90,386 Cr. Total Assets Under Management (AUM) grew 19% YoY to ₹5,98,166 Cr. The D2C platform, ABCD, has reached 9.3 million customers as of Jan-26.
Other Businesses (Textiles, Renewables, Insulators)
Revenue from these businesses grew 24% YoY to ₹1,010 Cr., with EBITDA increasing 84% YoY to ₹234 Cr. Textiles revenue grew 11% YoY, while Renewables revenue jumped 82% YoY due to higher capacities, reaching 1.95 GWp installed capacity.
Capital Expenditure and Sustainability Focus
Capital expenditure (capex) for Q3FY26 stood at ₹369 Cr., totaling ₹1,310 Cr. for 9MFY26. For Cellulosic Fibres, Phase-1 commissioning is targeted for mid-2027. On the sustainability front, the proportion of recycled water to freshwater consumption increased to 50% (standalone basis), and the share of renewable power rose to 24% of total power requirement.
Outlook
Grasim Industries remains strongly positioned to capitalize on India’s accelerating economic growth, driven by infrastructure, public capex, and manufacturing-led expansion, underpinning durable demand across all business units.
Source: BSE
