Grasim Industries Ltd
NSE: GRASIM · Cement & Cement Products · sector
₹2,950.00NSE close 2026-10-26
Key numbers
Market cap₹2,00,762 cr
Price₹2,950.00
52w high / low₹3,411 / ₹2,502
P/E35.1xSector median 21.5x
P/B1.9xSector median 1.4x
Book value₹1,520.4
Dividend yield0.83%Sector median 0.64%
ROE5.7%Sector median 7.3%
ROCE5.9%Sector median 6.3%
OPM14.2%Sector median 10.9%
Debt / equity2.17xSector median 0.48x
EV/EBITDA15.4xSector median 14.1x
Interest cover5.3x
Current ratio0.95x
Sales growth 3y+14.2%Sector median +1.9%
Profit growth 3y-10.1%Sector median +16.8%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 38 companies in Cement & Cement Products (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹23,931 cr vs borrowings ₹2,24,948 cr (FY26): borrowings are higher by ₹2,01,017 cr.
- Borrowings rose in each of the last 3 years (₹1,01,348 cr → ₹2,24,948 cr).
- Operating profit covered interest 5.3x in the last 12 months.
- No promoter shares are pledged.
- Promoter holding rose by 2.09 percentage points in a year, to 45.20% (2026-09-30).
- Operating cash flow was below net profit in 5 of the last 5 years (FY26, FY25, FY24, FY23, FY22).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 20% of net profit in the last 12 months.
- Dividend paid in 5 of the last 5 financial years.
- Price ₹2,950.00 on 2026-10-26: -13.5% from the 52-week high, +17.9% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹3,307.80 · low ₹2,364.10
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 33,563 | 34,793 | 44,267 | 40,118 | 39,900 | 44,312 | 51,101 | 48,716 |
| EBITDA | 3,563 | 4,299 | 6,097 | 6,049 | 4,872 | 5,749 | 7,699 | 7,759 |
| OPM % | 10.6% | 12.4% | 13.8% | 15.1% | 12.2% | 13.0% | 15.1% | 15.9% |
| Other income | 395 | 369 | 383 | 342 | 345 | 265 | 228 | 305 |
| Net profit | 390 | 899 | 1,496 | 1,419 | 553 | 1,037 | 1,958 | 2,146 |
| EPS (₹) | 5.86 | 13.47 | 22.22 | 20.91 | 8.16 | 15.28 | 28.87 | 31.64 |
| Revenue YoY | +18.9% | +27.4% | +15.4% | +21.4% | ||||
| Profit YoY | +42.0% | +15.3% | +30.9% | +51.3% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 95,701 | 1,17,627 | 1,30,978 | 1,48,478 | 1,75,431 | 1,84,029 |
| EBITDA | 16,882 | 16,778 | 19,003 | 18,325 | 24,369 | 26,079 |
| Net profit | 7,550 | 6,827 | 5,624 | 3,706 | 4,966 | 5,694 |
| EPS (₹) | 114.98 | 103.98 | 85.29 | 55.57 | 73.21 | 83.95 |
| Revenue growth | +22.9% | +11.4% | +13.4% | +18.2% | +20.5% | |
| Profit growth | -9.6% | -17.6% | -34.1% | +34.0% | +35.5% | |
| Dividend / share (₹) | 5.00 | 5.00 | 10.00 | 10.00 | 10.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +14.3% | +18.1% | +20.5% |
| Net profit | -10.1% | +2.9% | +35.5% |
| EPS | -11.0% | +2.2% | – |
| Share price | – | +3.1% (2y) | +0.6% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 78,742 | 88,652 | 97,509 | 1,03,470 |
| Borrowings | – | 1,01,348 | 1,35,102 | 1,83,649 | 2,24,948 |
| Cash & equivalents | – | 18,520 | 22,925 | 25,045 | 23,931 |
| Total assets | – | 3,37,205 | 4,12,539 | 5,00,536 | 5,69,555 |
| Fixed assets | – | 63,754 | 69,505 | 1,03,939 | 1,12,103 |
| Capital work in progress | – | 7,730 | 18,229 | 14,610 | 15,877 |
| Investments | – | 49,026 | 64,541 | 75,569 | 86,742 |
| Receivables | – | 5,915 | 6,979 | 9,159 | 10,970 |
| Inventory | – | 11,159 | 13,545 | 15,614 | 15,429 |
| Payables | – | 15,431 | 18,128 | 15,438 | 19,435 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 7,038 | -12,685 | -10,719 | -17,170 | -17,810 |
| Cash from investing | -1,052 | -13,687 | -23,113 | -23,982 | -17,803 |
| Cash from financing | -6,733 | 26,469 | 33,908 | 43,643 | 33,523 |
| Capex | 8,588 | 12,036 | 19,485 | 17,181 | 15,626 |
| Free cash flow | -1,550 | -24,721 | -30,204 | -34,351 | -33,436 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 8.7% | 6.3% | 3.8% | 4.8% |
| ROCE % | – | 8.8% | 6.8% | 4.7% | 5.4% |
| Debtor days | – | 18 | 19 | 23 | 23 |
| Inventory days | – | 180 | 194 | 179 | 130 |
| Payable days | – | 249 | 260 | 177 | 164 |
| Cash conversion cycle (days) | – | -51 | -47 | 25 | -11 |
| Working capital days | – | -6 | -17 | -35 | -14 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 45.20% |
| FIIs | 17.09% |
| DIIs | 15.25% |
| of which Mutual funds | 5.50% |
| of which Insurance | 6.71% |
| Government | 0.00% |
| Public (non-institutions) | 22.13% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 43.11% | 43.11% | 43.11% | 43.11% | 43.22% | 43.74% | 43.74% | 45.20% |
| Promoter group | % |
|---|---|
| Birla Group Holdings Private Limited | 23.18% |
| IGH Holdings Private Limited | 6.64% |
| Pilani Investment and Industries | 5.92% |
| Hindalco Industries Limited | 4.29% |
| P.T. Indo Bharat Rayon | 2.94% |
| Thai Rayon Public Company Limited | 0.70% |
| Anatole Investments Pte Ltd | 0.66% |
| Kumar Mangalam Birla | 0.26% |
| P T Sunrise Bumi Textiles | 0.19% |
| P T Elegant Textile Industry | 0.12% |
| Birla Institute of Technology and Science | 0.10% |
| Rajashree Birla | 0.08% |
| Renuka Ventures Limited | 0.04% |
| Vasavadatta Bajaj | 0.02% |
| Neerja Birla | 0.01% |
| Public holders above 1% | % |
|---|---|
| Life Insurance Corporation of India | 6.53% |
| Citibank N.A. New York, NYADR Department | 2.58% |
| SBI Nifty 50 | 1.49% |
| NPS Trust A/c UTI Pension Fund Limited-Scheme Stat | 1.47% |
| Gagandeep Credit Capital Pvt Ltd | 1.41% |
| Shamyak Investment Private Limited | 1.32% |
| Theleme Master Fund Limited | 1.05% |
2,43,494 shareholders. Pledged: 0.00% of promoter shares.
Peers in Cement & Cement Products
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| ULTRACEMCO | ₹3,29,452 cr | 37.4x | 4.5x | 12.1% | 13.5% | 19.0% | +11.9% | 0.69% |
| GRASIM | ₹2,00,762 cr | 35.1x | 1.9x | 5.7% | 5.9% | 14.2% | +14.2% | 0.83% |
| AMBUJACEM | ₹91,448 cr | 20.8x | 1.5x | 7.8% | 4.8% | 14.6% | +1.4% | 0.62% |
| SHREECEM | ₹84,932 cr | 52.1x | 3.6x | 7.3% | 9.6% | 20.9% | +5.5% | 0.60% |
| JKCEMENT | ₹38,133 cr | 40.3x | 5.4x | 14.4% | 13.7% | 15.9% | +12.2% | 0.30% |
| DALBHARAT | ₹30,890 cr | 32.6x | 1.7x | 2.3% | 6.9% | 18.5% | +3.0% | 0.55% |
| ACC | ₹21,934 cr | 11.5x | 1.1x | 9.8% | 9.2% | 10.4% | +5.3% | 0.64% |
| RAMCOCEM | ₹17,620 cr | 27.3x | 2.2x | 8.3% | 10.1% | 20.7% | +3.4% | 0.27% |
| JSWCEMENT | ₹15,880 cr | 20.5x | 2.4x | 11.6% | 9.8% | 17.2% | – | – |
| NUVOCO | ₹12,160 cr | 29.4x | 1.3x | 4.4% | 6.8% | 15.9% | +2.3% | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Building Material $ | ₹1,01,202 cr | 57.1% | ₹16,364 cr | 16.2% |
| Financial Services | ₹45,427 cr | 25.6% | ₹5,293 cr | 11.7% |
| Cellulosic Fibres | ₹17,104 cr | 9.7% | ₹1,751 cr | 10.2% |
| Chemicals # | ₹9,592 cr | 5.4% | ₹1,406 cr | 14.7% |
| Others * | ₹3,892 cr | 2.2% | ₹-6,846 cr | -175.9% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-08-07 | Dividend | Dividend - Rs 10 Per Share |
| 2025-08-12 | Dividend | Dividend - Rs 10 Per Share |
| 2024-08-06 | Dividend | Annual General Meeting/Dividend - Rs 10 Per Share |
| 2024-01-10 | Rights | Rights 6:179 @ Premium Rs 1810/- |
| 2023-08-11 | Dividend | Annual General Meeting/Dividend - Rs 10 Per Share |
| 2022-08-11 | Dividend | Annual General Meeting/Dividend - Rs 5 Per Share/Special Dividend - Rs 5 Per Share |
| 2021-08-12 | Dividend | Annual General Meeting/Dividend - Rs 5 Per Share/ Special Dividend - Rs 4 Per Share |
| 2020-08-26 | Dividend | Dividend - Rs 4 Per Share |
| 2019-08-08 | Dividend | Annual General Meeting/Dividend - Rs 7 Per Sh |
| 2018-08-31 | Dividend | Dividend Rs 6.20 Per Share |
| 2017-09-08 | Dividend | Annual General Meeting/Dividend - Rs 5.50 Per Share |
| 2017-07-19 | Restructuring | Scheme Of Arrangement |
| 2016-10-06 | Split | Face Value Split From Rs 10 To Re 2 |
| 2016-09-07 | Dividend | Dividend - Rs 22.50 Per Share |
| 2015-09-03 | Dividend | Annual General Meeting / Dividend Rs 18/- Per Share |
| 2014-08-20 | Dividend | Dividend - Rs 21/- Per Share |
| 2013-07-31 | Dividend | Annual General Meeting / Dividend - Rs 22.50/- Per Share |
| 2012-08-27 | Dividend | Annual General Meeting/ Dividend Rs 22.50 Per Share |
| 2011-09-06 | Dividend | Dividend-Rs.20/- Per Share |
| 2010-08-10 | Dividend | Dividend-Rs.30/- Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing: Cellulosic Fibres and Fashion Yarns
- Manufacturing: Chemical and Allied Chemicals
- Manufacturing and Trading: Building Materials (Paints & B2B E-commerce)
| Sector | Commodities |
| Industry | Cement & Cement Products |
| Sub-industry | Cement & Cement Products |
| Symbol | GRASIM |
| BSE code | 500300 |
| ISIN | INE047A01021 |
| Face value | ₹2.0 |
| Incorporated | 1947-08-25 |
| Website | https://www.grasim.com |
| Plants (India / abroad) | 27 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.