Grasim Industries
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Grasim Industries (GRASIM) investor relations material

Grasim Industries Q3 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 25/26 earnings summary11 Feb, 2026

Executive summary

  • Consolidated Q3 FY26 revenue reached ₹44,312 crore, up 25% year-on-year, with EBITDA rising 33% to ₹6,215 crore, driven by strong growth across building materials, financial services, cellulose fibers, chemicals, premium textiles, and insulators.

  • Standalone revenue for Q3 FY26 was ₹10,432 crore, up 28% year-on-year, with robust contributions from both core and new businesses.

  • Adjusted PAT for Q3 FY26 stood at ₹1,168 crore, up 42% year-on-year; net profit was ₹2,232.95 crore, with 9MFY26 consolidated revenue at ₹1,24,330 crore and net profit at ₹6,498.06 crore.

  • Strategic focus on innovation, sustainability, and capital allocation, with significant investments in new growth engines like paints and B2B e-commerce.

  • Unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2025 were approved by the Board of Directors on 10 February 2026.

Financial highlights

  • Consolidated EBITDA grew 33% year-on-year to ₹6,215 crore; standalone EBITDA rose 57% to ₹585 crore.

  • Building materials segment revenue grew 30% year-on-year, with all-round performance in cement, paints, and B2B.

  • Financial services revenue increased 29% year-on-year, with the lending portfolio up 30% to over ₹1,90,000 crore.

  • Net profit for Q3 FY26 was ₹2,232.95 crore, compared to ₹1,734.16 crore in Q3 FY25.

  • Net debt as of Dec 31, 2025, was ₹6,882 crore, down from ₹8,277 crore a year earlier; net debt to EBITDA at 2.1x.

Outlook and guidance

  • Paints business targets ₹10,000 crore revenue run rate by Q4 FY28, aiming for a profitable number two position within three years of full-scale operation.

  • Birla Pivot B2B e-commerce expects to reach breakeven by FY27 exit and is set to surpass FY27 guidance.

  • Renewable energy share in chemicals targeted to exceed 40% by end of FY27.

  • The company continues to focus on growth in building materials, financial services, and renewable energy, with ongoing investments and restructuring in key subsidiaries.

Future impact of new Labour Codes rules?
ABRen's strategic plans post GIP investment?
Risk of CCI penalties for Ultratech?
Paints: Strategy for FY28 profitability
Birla Pivot: Drivers for accelerated breakeven
Chemicals: Strategy for 40% renewable energy by FY27
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Q4 25/2622 May, 2026
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Frequently asked questions

Grasim Industries Ltd. operates in the business of manufacturing and marketing of fiber (polyester, cotton, and specialty yarns), yarn, pulp, chemicals, textile, fertilizers and insulators. The company also engages in development and application of technology in fields such as biotechnology, petrochemistry etc. Grasim Industries Limited was incorporated in 1947 and is based in Mumbai, India.

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