Grasim Industries Ltd
Grasim Industries Ltd Q3 FY26 Results & Concall Highlights: Capex ₹1,310 Cr
Q3 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Paints business targets Rs. 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 expected around FY28.
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.
- Cement capacity planned to grow to 240.8 mtpa by March 2028, over 10% CAGR, supporting overall building material growth.
- The overall cement and building materials sector is expected to grow; paint industry growth envisaged at 5%-6% in current year and 8%-10% by FY27.
Profitability & Margins
See what Grasim Industries Ltd said on profitability & margins — free account, 30 seconds.
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.
- Birla Pivot B2B e-commerce business continues rapid revenue growth and scaling, expected to breakeven by FY27.
- Paint business has no major pending CAPEX as six plants are fully commissioned.
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
See what Grasim Industries Ltd said on fundraising & capital structure — free account, 30 seconds.
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.
- For Birla Pivot (B2B e-commerce), the business has crossed an annualized revenue run rate of Rs.8,500 crores and continues rapid scaling, indicating a strong order flow and demand.
- The paint business is experiencing robust demand across geographies, with a large number of dealers and contractors increasing throughput and engagement.
- No specific quantitative orderbook value was stated, but strong ongoing project negotiations and expanding network indicate a healthy pending orderbook.
Grasim Industries Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹51.1K Cr, net profit ₹3.8K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
Full financials →Continue your research
What Grasim Inds's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q4 FY25 earnings call analysis →
- Q3 FY25 earnings call analysis →
- Q1 FY26 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
- Q4 FY23 earnings call →
Others in Cement & Cement Products this season
- JSW Cement (Q3 FY26)
Total volume sold grew 12.1% YoY to 9.98 mn MT in 9M FY26. Key concall takeaways from JSW Cement Ltd's Q3 FY26 earnings call — and how it ranks against sector…
- Star Cement (Q3 FY26)
CAPEX incurred ₹431 crore till Q3 FY26; planned ₹150 crore in Q4; FY27 CAPEX to be finalized. Key concall takeaways from Star Cement Ltd's Q3 FY26 earnings…
- Nuvoco Vistas (Q3 FY26)
Emphasis on premium products (premiumization mix rising from 34% to 44%) to improve realizations and profitability. Key concall takeaways from Nuvoco Vistas's…
- UltraTech Cement Ltd (Q3 FY26)
2,500 crores in Q4; total around INR 9,500 . Key concall takeaways from UltraTech Cement Ltd's Q3 FY26 earnings call — and how it ranks against sector peers.
Frequently Asked Questions
What were Grasim Industries Ltd Q3 FY26 results?
Paints business targets Rs. 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 expected around FY28.
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.
Keep Grasim Industries Ltd on your radar — track it to get its next earnings analysis in your feed.
This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.