Grasim Industries Limited — PPTs, 22-05-2025: Investor Presentation

1. Financial Highlights:

Grasim’s consolidated revenue grew 17% YoY to ₹44,267 Cr, driven by building materials, chemicals, and financial services. EBITDA rose 6% YoY to ₹6,548 Cr, tempered by new business investments. FY25 consolidated revenue stood at ₹1,48,478 Cr with EBITDA of ₹20,023 Cr and PAT of ₹3,902 Cr. Cement domestic grey volumes increased 10% YoY with EBITDA/ton at ₹1,270 (+7%). Chemicals EBITDA jumped 52% YoY on better caustic soda prices. Financial services assets expanded 27% to ₹1.57 lakh Cr. B2B e-commerce surpassed ₹5,000 Cr annualized revenue. Standalone revenue rose 32% to ₹8,926 Cr, but EBITDA fell 43% QoQ due to higher input costs. Net debt increased to ₹35,402 Cr with a 1.77x net debt/EBITDA ratio.

2. Strategic Initiatives & Growth Drivers:

FY25 capex of ₹6,857 Cr focused on paints (₹2,976 Cr), chemicals capacity, and textiles modernization. Cellulosic fibre expansion (55K TPA Lyocell) targets 2027 commissioning. UltraTech Cement plans capacity above 215 MTPA by FY27. Birla Opus scaled rapidly to India’s #3 decorative paints brand in six months. B2B e-commerce platform Birla Pivot expanded product lines and financing, aiming ₹8,500 Cr revenue by FY27. Renewables capacity grew to 1.5 GW.

3. Business Developments:

Commissioning of the 5th paints plant at Mahad and trials for 6th at Kharagpur. Chemicals advanced Epichlorohydrin and CPVC projects, raising chlorine integration to 65%. Financial services platform ABCD exceeded 5.5 million app users. UltraTech’s building solutions network expanded to 4,615 outlets, controlling 21.3% of domestic grey cement sales. B2B e-commerce improved logistics and private label offerings.

4. Market Position & Competitive Advantage:

Grasim leads in cement, chemicals, textiles, and financial services with India’s largest chlor-alkali capacity. Birla Opus’s rapid paint market penetration covers 6,600+ towns. Cement benefits from 31% premium product mix and better efficiencies. B2B e-commerce is among the fastest-growing in India. A 51% renewable power share and ESG recognitions enhance competitive positioning.

5. Investor Implications:

Expansions in decorative paints, chemicals, and financial services backed by solid capex and digital growth signal positive growth potential. Margin pressures and rising net debt suggest execution risks to watch. Premium product scale-up and new businesses support steady value creation prospects for investors.