Grasim Industries Q3 FY26: Capex ₹1,310 Cr
Q3 FY26 earnings call: what management said on revenue, margins and capex.
- Revenue
- ₹44,312Cr
- +25.3% YoY
- +11.1% QoQ
- Net profit
- ₹2,233Cr
- +28.8% YoY
- +49.1% QoQ
- Margin
- 20%
- +1 pp YoY
- +1 pp QoQ
Guidance rank: #1 of 17 in Cement & Cement Products
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The short version
Paints business targets Rs. 10,000 crore revenue by FY28, implying a ~40% CAGR growth over the next nine quarters. Paints Business: Targeting over 40% exit rate by FY27 and aiming to achieve Rs.10,000 crore revenue by FY28 with strong double-digit to triple-digit growth rates quarter-on-quarter; profitability expe.
From Grasim Industries Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Paints business targets Rs. 10,000 crore revenue by FY28, implying a ~40% CAGR growth over the next nine quarters.
- Current paint volume growth remains strong with double-digit quarter-on-quarter growth and robust dealer and contractor addition.
- Institutional paint business expected to grow from single-digit share to 12%-15% contribution by FY27.
- Chemicals business volume growth continues, with highest-ever caustic soda sales (313,000 tons in Q3 FY26, +4% YoY).
- Cellulose fiber business sees 48% EBITDA growth YoY driven by volume and export mix improvements.
- Birla Pivot B2B e-commerce business aims to reach breakeven by FY27, signaling strong execution and revenue scaling.
2 more points from Grasim Industries Ltd's call on revenue
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Profitability & Margins
Paints Business: Targeting over 40% exit rate by FY27 and aiming to achieve Rs.10,000 crore revenue by…
Locked: what Grasim Industries Ltd said on margins
Also locked on this page: fundraising
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Capital Expenditure Plans
- Completed majority of planned capital expenditure in decorative paint business post commissioning of Kharagpur plant; YTD CAPEX at Rs.1,310 crores.
- Focus remains on Phase-1 of Harihar Lyocell project, adding 55,000 MTPA capacity of specialty fibers.
- Aditya Birla Renewables growing with nearly 2 GW peak capacity (up from 1.2 GW in Q3 FY25), targeting scaling capacity beyond 10 GW of peak capacity in coming years.
- Strategic investment by Global Infrastructure Partners (GIP) in Aditya Birla Renewables: initial Rs.2,000 crores commitment with an option for Rs.1,000 crores more, valuing the business at EV Rs.14,600 crores.
- Aditya Birla Capital's new partnership with Advent International involves a Rs.2,750 crores capital infusion into Aditya Birla Housing, valuing it at approx. Rs.19,250 crores.
2 more points from Grasim Industries Ltd's call on capex
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Top-ranked in Cement & Cement Products
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
Net debt as of December 31, 2025, stood lower at Rs.6,882 crores compared to Rs.8,277 crores the previous…
Locked: what Grasim Industries Ltd said on fundraising
Also locked on this page: margins
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Order Book & Pipeline
- Birla Opus institutional orders have a strong pipeline with more than 40,000 mid- and large-size projects in various negotiation stages.
- Approximately 25% of these institutional orders have already been billed.
- There is a significant project pipeline for future growth in institutional sales, which grew 40% quarter-on-quarter.
2 more points from Grasim Industries Ltd's call on order book
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Grasim Industries Ltd — Quarterly revenue & net profit
Grasim Industries Ltd Q3 FY26 results — key figures
| ₹ Cr | Q3 FY26 | Q3 FY25 | YoY | Q2 FY26 | QoQ |
|---|---|---|---|---|---|
| Revenue | 44,312 | 35,378 | +25.3% | 39,900 | +11.1% |
| Operating profit (EBITDA) | 8,870 | 6,804 | +30.4% | 7,671 | +15.6% |
| Operating margin | 20% | 19% | +1 pp | 19% | +1 pp |
| Profit before tax | 3,051 | 2,308 | +32.2% | 2,510 | +21.6% |
| Net profit (PAT) | 2,233 | 1,734 | +28.8% | 1,498 | +49.1% |
| EPS (₹) | 15.23 | 12.45 | +22.3% | 8.13 | +87.3% |
Source: reported quarterly figures (Screener), ₹ crore.
Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹50.1K Cr, net profit ₹1.0K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Grasim Inds's management said in earlier quarters
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Frequently Asked Questions
What were Grasim Industries Ltd Q3 FY26 results?
Paints business targets Rs. 10,000 crore revenue by FY28, implying a ~40% CAGR growth over the next nine quarters. Paints Business: Targeting over 40% exit rate by FY27 and aiming to achieve Rs.10,000 crore revenue by FY28 with strong double-digit to triple-digit growth rates quarter-on-quarter; profitability expe.
What is Grasim Industries Ltd share price analysis?
Grasim Industries Ltd currently shows a neutral. The stock trades at a P/E of 38.5 with a market cap of ₹221,086 Cr. Investors should review the full earnings analysis for detailed insights.
Is Grasim Industries Ltd planning capital expenditure?
Completed majority of planned capital expenditure in decorative paint business post commissioning of Kharagpur plant; YTD CAPEX at Rs.1,310 crores.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.