Grasim Industries Ltd.

•

grasim.comBSE: 500300NSE: GRASIM

Market Cap₹ 2,23,336 Cr.

Current Price

High / Low₹ 3,411 / 2,502

Stock P/E39.2

Book Value₹ 1,565

Price to Book1.69

Dividend Yield0.30 %

ROCE9.7 %

ROE10.3 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Cement: 57.7% • Financial Services: 25.9% • Fibre & Pulp: 9.7%

AI Sector View

AI GENERATED

Construction Materials

Buy

Construction materials remain supported by healthy building activity. Core industries cement growth accelerated to 13.1% YoY (2026-07), while finished steel consumption was 8.0% YoY (2026-06); steel output itself was softer at 2.9% YoY (2026-07). FPI positioning is still mildly negative at INR -497 crore over 3 months to 2026-08-31, but the fundamental demand backdrop remains constructive.

Confidence

69%

View full sector analysis →

PROS

Company has consistently been profitable over the last 5 years
Latest quarter profit grew 39.0% YoY, showing strong momentum
Company has delivered good sales growth of 18.1% CAGR over last 5 years
Company has a consistent dividend-paying track record

CONS

Company has a high debt-to-equity of 2.19x
Operating cash flow has been negative in recent years
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.63x)
Company has a low return on capital employed of 10.1%
Interest coverage is weak at 2.0x - earnings barely cover interest

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Construction MaterialsDiversifiedDiversified

Part ofNIFTY 50 NIFTYLARGEMIDCAP250 NIFTY100 EQL WGT NIFTY50 VALUE 20 NIFTY TOTAL MKT

S.No.	Name
1.	GRASIM	3281.55	39.23	223335.92	0.30	3846.28	39.00	48716.20	21.43	9.72	22.94
2.	3MINDIA	32664.50	60.19	36796.79	1.55	157.15	21.62	1046.57	-0.29	51.87	19.63
3.	DCMSHRIRAM	999.90	10.88	15592.67	1.12	693.44	509.24	3784.67	9.96	11.72	8.93
4.	HNDFDS	617.80	48.09	7485.43	0.00	42.76	34.76	1201.08	20.75	14.15	8.35
5.	BALMLAWRIE	168.75	10.34	2885.69	5.04	70.93	5.32	748.73	10.00	15.33	15.26
6.	TTKHLTCARE	1116.05	21.32	1577.02	0.90	21.28	63.68	257.56	13.75	7.72	5.72
7.	KOTIC	135.45	0.00	1463.15	0.00	-28.90	—	52.44	98.47	-16.89	-42.58
8.	EMPIND	1053.20	160.98	631.92	2.37	14.18	47.35	183.60	10.07	18.16	10.77
9.	GILLANDERS	103.58	12.68	221.06	0.00	2.52	146.16	91.34	3.34	6.08	7.01
10.	ASPINWALL	260.50	12.95	203.67	2.50	-0.70	78.59	113.18	25.76	8.42	0.96

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	31,065	30,221	31,965	37,727	34,610	34,223	35,378	44,267	40,118	39,900	44,312	51,101	48,716
	24,708	24,168	25,072	29,835	27,927	28,197	28,575	35,517	31,296	32,228	35,386	40,225	43,851
Operating Profit	6,357	6,053	6,893	7,892	6,682	6,026	6,804	8,750	8,822	7,671	8,926	10,876	4,865
OPM %	20.46%	20.03%	21.57%	20.92%	19.31%	17.61%	19.23%	19.77%	21.99%	19.23%	20.14%	21.28%	9.99%
	296	285	256	-142	215	317	372	316	304	345	65	143	318
Interest	2,032	2,226	2,433	2,586	2,795	3,027	3,270	3,407	3,551	3,669	3,909	4,015	4,298
Depreciation	1,183	1,245	1,244	1,329	1,443	1,572	1,608	1,831	1,810	1,899	1,975	2,042	1,988
Profit before Tax	3,438	2,866	3,473	3,835	2,658	1,744	2,298	3,828	3,765	2,449	3,107	4,962	5,183
Tax %	25.06%	29.22%	25.01%	31.47%	23.49%	48.58%	24.98%	26.72%	28.33%	41.32%	26.32%	25.72%	25.79%
Net Profit	0	0	0	0	2,268	1,100	1,844	2,973	2,767	1,498	2,233	3,802	3,846
	23.92	17.66	22.99	20.69	16.24	4.73	12.29	22.22	20.91	8.16	15.28	28.87	31.64

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	36,068	55,894	77,200	75,141	76,404	95,701	1,17,627	1,30,978	1,48,478	1,75,431	1,84,029
	28,683	43,572	60,575	57,880	57,769	75,270	96,038	1,03,783	1,20,216	1,39,135	1,51,690
Operating Profit	7,385	12,322	16,625	17,261	18,635	20,431	21,589	27,195	28,262	36,296	32,339
OPM %	20.48%	22.05%	21.54%	22.97%	24.39%	21.35%	18.35%	20.76%	19.03%	20.69%	17.57%
	948	428	-1,859	-437	716	752	3,524	695	1,220	857	872
Interest	702	3,663	6,060	6,890	5,736	4,776	6,044	9,277	12,500	15,144	15,891
Depreciation	1,808	2,724	3,571	4,004	4,033	4,161	4,552	5,001	6,454	7,726	7,904
Profit before Tax	5,952	5,635	5,163	6,492	9,771	12,627	14,727	13,700	10,825	14,473	15,702
Tax %	28.67%	34.56%	46.84%	-1.30%	30.93%	15.33%	24.77%	27.55%	28.35%	28.83%	28.30%
Net Profit	4,246	3,688	2,745	6,576	6,749	10,691	11,078	9,926	7,756	10,300	11,259
EPS	67.77	44.17	25.74	67.18	65.50	114.80	103.47	84.71	54.46	72.98	—
Dividend Payout %	8.11%	15.22%	27.19%	5.96%	13.76%	8.72%	9.64%	11.80%	18.36%	13.70%	—

COMPOUNDED SALES GROWTH

10 Years:: 18%
5 Years:: 18%
3 Years:: 14%

COMPOUNDED PROFIT GROWTH

10 Years:: 7%
5 Years:: 3%
3 Years:: -10%

STOCK PRICE CAGR

10 Years:: 14%
5 Years:: 16%
3 Years:: 21%
1 Year:: 17%

RETURN ON EQUITY

10 Years:: 11%
5 Years:: 12%
3 Years:: 10%
Last Year:: 10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	93	131	132	132	132	132	132	133	136	136
Minority Interest	9,702	26,337	30,503	34,305	37,068	40,476	44,171	50,286	60,304	66,395
	31,252	57,106	57,660	56,237	65,088	75,265	78,200	87,976	96,699	1,02,554
	8,769	1,02,062	1,22,061	1,22,561	1,26,364	1,31,073	1,68,441	2,05,904	2,60,897	3,11,178
Trade Payables	3,048	5,030	6,084	6,583	7,917	11,393	13,353	15,357	15,438	18,041
	9,883	17,233	24,688	24,364	30,781	30,810	32,526	52,461	66,567	70,830
Total Liabilities	62,747	2,07,899	2,41,127	2,44,181	2,67,349	2,89,149	3,36,823	4,12,116	5,00,040	5,69,134
	34,786	69,257	87,113	87,720	85,008	88,981	94,882	1,00,480	1,41,134	1,49,439
Capital Work in Progress	1,296	2,125	2,568	3,591	5,287	6,123	7,354	18,229	13,710	14,660
	14,200	41,286	37,581	43,508	60,048	66,606	74,850	93,300	1,02,734	1,14,564
	4,231	5,860	7,059	6,841	6,197	9,536	11,159	13,545	15,614	15,429
	0	0	0	0	0	0	0	6,979	9,159	10,970
Cash & Bank	2,307	1,316	1,908	3,804	5,337	3,253	3,713	4,649	7,905	6,188
	5,926	88,053	1,04,898	98,718	1,05,473	1,14,650	1,44,865	1,74,934	2,09,784	2,57,885
Total Assets	62,747	2,07,899	2,41,127	2,44,181	2,67,349	2,89,149	3,36,823	4,12,116	5,00,040	5,69,134

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	8,253	-2,440	215	18,360	16,919	10,003	-10,590	-10,719	-17,170	-17,810
Cash from Investing	-3,488	510	-2,271	-11,548	-9,229	-3,543	-13,687	-23,113	-23,982	-17,803
Cash from Financing	-3,799	3,449	4,158	-3,418	-8,003	-6,733	26,469	33,908	42,978	33,523
	2	-181	228	1,838	-2,158	-3,239	97	76	1,826	-2,090

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	43.06	43.11	43.11	43.11	43.11	43.11	43.22	43.74	43.74
	13.70	13.78	13.50	13.45	13.79	14.37	14.49	14.91	14.63
	16.66	17.75	17.90	18.24	17.91	17.27	16.99	16.28	16.13
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	23.58	23.30	23.44	23.10	23.04	23.05	23.00	22.80	22.97

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-12

Action(s) initiated or orders passed

2026-09-12 - Disclosure under Regulation 30 of the SEBI (LODR) Regulations, 2015

2026-09-09

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-09 - Intimation of schedule of Analysts / Institutional Investor Meet

2026-09-03

Updates

2026-09-03 - Corporate Dossier of Grasim Industries Limited

2026-08-29

General Updates

2026-08-29 - Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015

2026-08-28

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-28 - Grasim Industries Limited has informed the Exchange about Schedule of meet

2026-08-26

General Updates

2026-08-26 - Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015

2026-08-24

Copy of Newspaper Publication

2026-08-24 - Newspaper Advertisement regarding Special Window - Re- Lodgement for Transfer and Dematerialisation of Physical Securities

2026-08-22

General Updates

2026-08-22 - Appointment of Joint Statutory Auditor for a term of 5 consecutive years

2026-08-22

Shareholders meeting

2026-08-22 - Scrutinizer's Report and Voting Results of the 79th Annual General Meeting of the Company

News

Recent coverage and analyst commentary for GRASIM

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Grasim Industries Ltd.

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Name

GRASIM

3281.55

39.23

223335.92

0.30

3846.28

39.00

48716.20

21.43

9.72

22.94

3MINDIA

32664.50

60.19

36796.79

1.55

157.15

21.62

1046.57

-0.29

51.87

19.63

DCMSHRIRAM

999.90

10.88

15592.67

1.12

693.44

509.24

3784.67

9.96

11.72

8.93

HNDFDS

617.80

48.09

7485.43

0.00

42.76

34.76

1201.08

20.75

14.15

8.35

BALMLAWRIE

168.75

10.34

2885.69

5.04

70.93

5.32

748.73

10.00

15.33

15.26

TTKHLTCARE

1116.05

21.32

1577.02

0.90

21.28

63.68

257.56

13.75

7.72

5.72

KOTIC

135.45

0.00

1463.15

0.00

-28.90

—

52.44

98.47

-16.89

-42.58

EMPIND

1053.20

160.98

631.92

2.37

14.18

47.35

183.60

10.07

18.16

10.77

GILLANDERS

103.58

12.68

221.06

0.00

2.52

146.16

91.34

3.34

6.08

7.01

ASPINWALL

260.50

12.95

203.67

2.50

-0.70

78.59

113.18

25.76

8.42

0.96

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

31,065

30,221

31,965

37,727

34,610

34,223

35,378

44,267

40,118

39,900

44,312

51,101

48,716

24,708

24,168

25,072

29,835

27,927

28,197

28,575

35,517

31,296

32,228

35,386

40,225

43,851

Operating Profit

6,357

6,053

6,893

7,892

6,682

6,026

6,804

8,750

8,822

7,671

8,926

10,876

4,865

OPM %

20.46%

20.03%

21.57%

20.92%

19.31%

17.61%

19.23%

19.77%

21.99%

19.23%

20.14%

21.28%

9.99%

296

285

256

-142

215

317

372

316

304

345

143

318

Interest

2,032

2,226

2,433

2,586

2,795

3,027

3,270

3,407

3,551

3,669

3,909

4,015

4,298

Depreciation

1,183

1,245

1,244

1,329

1,443

1,572

1,608

1,831

1,810

1,899

1,975

2,042

1,988

Profit before Tax

3,438

2,866

3,473

3,835

2,658

1,744

2,298

3,828

3,765

2,449

3,107

4,962

5,183

Tax %

25.06%

29.22%

25.01%

31.47%

23.49%

48.58%

24.98%

26.72%

28.33%

41.32%

26.32%

25.72%

25.79%

Net Profit

2,268

1,100

1,844

2,973

2,767

1,498

2,233

3,802

3,846

23.92

17.66

22.99

20.69

16.24

4.73

12.29

22.22

20.91

8.16

15.28

28.87

31.64

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

36,068

55,894

77,200

75,141

76,404

95,701

1,17,627

1,30,978

1,48,478

1,75,431

1,84,029

28,683

43,572

60,575

57,880

57,769

75,270

96,038

1,03,783

1,20,216

1,39,135

1,51,690

Operating Profit

7,385

12,322

16,625

17,261

18,635

20,431

21,589

27,195

28,262

36,296

32,339

OPM %

20.48%

22.05%

21.54%

22.97%

24.39%

21.35%

18.35%

20.76%

19.03%

20.69%

17.57%

948

428

-1,859

-437

716

752

3,524

695

1,220

857

872

Interest

702

3,663

6,060

6,890

5,736

4,776

6,044

9,277

12,500

15,144

15,891

Depreciation

1,808

2,724

3,571

4,004

4,033

4,161

4,552

5,001

6,454

7,726

7,904

Profit before Tax

5,952

5,635

5,163

6,492

9,771

12,627

14,727

13,700

10,825

14,473

15,702

Tax %

28.67%

34.56%

46.84%

-1.30%

30.93%

15.33%

24.77%

27.55%

28.35%

28.83%

28.30%

Net Profit

4,246

3,688

2,745

6,576

6,749

10,691

11,078

9,926

7,756

10,300

11,259

EPS

67.77

44.17

25.74

67.18

65.50

114.80

103.47

84.71

54.46

72.98

—

Dividend Payout %

8.11%

15.22%

27.19%

5.96%

13.76%

8.72%

9.64%

11.80%

18.36%

13.70%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

131

132

133

136

Minority Interest

9,702

26,337

30,503

34,305

37,068

40,476

44,171

50,286

60,304

66,395

31,252

57,106

57,660

56,237

65,088

75,265

78,200

87,976

96,699

1,02,554

8,769

1,02,062

1,22,061

1,22,561

1,26,364

1,31,073

1,68,441

2,05,904

2,60,897

3,11,178

Trade Payables

3,048

5,030

6,084

6,583

7,917

11,393

13,353

15,357

15,438

18,041

9,883

17,233

24,688

24,364

30,781

30,810

32,526

52,461

66,567

70,830

Total Liabilities

62,747

2,07,899

2,41,127

2,44,181

2,67,349

2,89,149

3,36,823

4,12,116

5,00,040

5,69,134

34,786

69,257

87,113

87,720

85,008

88,981

94,882

1,00,480

1,41,134

1,49,439

Capital Work in Progress

1,296

2,125

2,568

3,591

5,287

6,123

7,354

18,229

13,710

14,660

14,200

41,286

37,581

43,508

60,048

66,606

74,850

93,300

1,02,734

1,14,564

4,231

5,860

7,059

6,841

6,197

9,536

11,159

13,545

15,614

15,429

6,979

9,159

10,970

Cash & Bank

2,307

1,316

1,908

3,804

5,337

3,253

3,713

4,649

7,905

6,188

5,926

88,053

1,04,898

98,718

1,05,473

1,14,650

1,44,865

1,74,934

2,09,784

2,57,885

Total Assets

62,747

2,07,899

2,41,127

2,44,181

2,67,349

2,89,149

3,36,823

4,12,116

5,00,040

5,69,134

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

8,253

-2,440

215

18,360

16,919

10,003

-10,590

-10,719

-17,170

-17,810

Cash from Investing

-3,488

510

-2,271

-11,548

-9,229

-3,543

-13,687

-23,113

-23,982

-17,803

Cash from Financing

-3,799

3,449

4,158

-3,418

-8,003

-6,733

26,469

33,908

42,978

33,523

-181

228

1,838

-2,158

-3,239

1,826

-2,090

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

43.06

43.11

43.22

43.74

13.70

13.78

13.50

13.45

13.79

14.37

14.49

14.91

14.63

16.66

17.75

17.90

18.24

17.91

17.27

16.99

16.28

16.13

Government

0.00

23.58

23.30

23.44

23.10

23.04

23.05

23.00

22.80

22.97

Grasim Industries Ltd.

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Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Grasim Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI