India · Delayed Price · Currency is INR Grasim Industries Earnings Call Transcripts
Fiscal Year 2026
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Q3 FY26 saw 25% year-on-year revenue growth, with strong gains in paints, B2B e-commerce, and renewables. Paints segment expanded market share and targets INR 10,000 crore revenue by FY28, while B2B e-commerce expects breakeven by FY27 exit.
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Consolidated revenues grew 8% year-over-year, with strong gains in paints, B2B e-commerce, cement, and financial services. Decorative paints achieved double-digit market share and expanded capacity, while B2B e-commerce is on track to surpass revenue targets.
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Q1 FY 2026 saw 16% YoY consolidated revenue growth and 36% YoY EBITDA growth, led by strong performance in paints, B2B e-commerce, cement, and chemicals. Paint business expanded rapidly, now holding over 10% market share, while B2B e-commerce is on track for $1B revenue by FY 2027.
Fiscal Year 2025
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Q4 FY 2025 saw record revenue growth of 32% YOY, led by strong performance in new and core businesses. Paints achieved over 10% market share (including putty), B2B e-commerce scaled rapidly, and core segments remained stable despite global headwinds.
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Consolidated revenue rose 9% year-over-year in Q3 FY25, with strong growth in paints, B2B e-commerce, and chemicals, though EBITDA declined due to cement and initial paint investments. Paints and cellulosic fiber expansions are underway, and net debt to EBITDA is guided at 3x-3.5x.
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Revenue grew 11% YOY to INR 33,563 crore, with EBITDA down 10% due to cement and paint investments. Paints and B2B e-commerce are ramping up, targeting high single-digit market share and $1B revenue, respectively. CapEx focus remains on new businesses.
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Q1 FY25 saw strong revenue and EBITDA growth, with record performance in cellulosic fiber, specialty chemicals, and B2B e-commerce. Paints business rapidly expanded distribution and product range, though reported sales understate true turnover due to CWIP accounting. UltraTech and Aditya Birla Capital achieved key milestones.