Grasim Industries

Construction F&O

GRASIM NSE

NSE: GRASIM BSE: 500300 Cement

₹3,138.00 +48.00 (+1.55%)

P/E: 37.92

View as Markdown

MCP

Close 4 Nov 2026 ₹3,138.00 +437.90 +16.2% 1Y

Start ₹2,700.10

Key Fundamentals

LargecapCement & Cement ProductsConstruction Materials

Price-based figures as of 04 Nov 2026, 15:55 IST · EPS basis: Consolidated · TTM

ROCE: 8.01%
Debt to Equity: 2.20
EPS (TTM): ₹82.75
Book Value: ₹1,530.51

Market Cap: —
P/E (TTM): 37.92
P/B: 2.05
ROE: 4.98%
Dividend Yield: 0.32%
EBITDA: ₹37,476 Cr
52W High: ₹3,411.10
52W Low: ₹2,502.50
Day Range: ₹3,074.70 – ₹3,141.00
Volume: 8,05,047

Peer Comparison

Commodities › Construction › Cement › Cement & Cement Products

Grasim Industries peer comparison

UltraTech Cement	₹11,816.00	39.56	₹3,46,219 Cr	4.73	2.05%	11.10%	12.70%	₹95,572 Cr	₹8,834 Cr
Grasim Industries (this company)	₹3,138.00	37.92	₹2,11,790 Cr	2.05	0.32%	4.98%	8.01%	₹1,84,029 Cr	₹11,261 Cr
Ambuja Cements	₹375.95	21.09	₹92,920 Cr	1.57	0.54%	8.85%	5.61%	₹39,867 Cr	₹5,222 Cr
Shree Cement	₹24,175.00	53.51	₹86,846 Cr	3.66	0.63%	7.51%	10.30%	₹21,896 Cr	₹1,637 Cr
JK Cement	₹5,076.30	41.48	₹39,409 Cr	5.34	0.39%	15.60%	15.10%	₹14,401 Cr	₹939 Cr
Dalmia Bharat	₹1,407.00	28.29	₹26,437 Cr	1.48	0.29%	6.11%	7.59%	₹15,058 Cr	₹953 Cr
ACC	₹1,185.30	11.66	₹22,384 Cr	1.08	0.64%	10.90%	11.20%	₹25,442 Cr	₹1,908 Cr
Median 7 companies	₹3,138.00	37.92	₹86,846 Cr	2.05	0.54%	8.85%	10.30%	₹25,442 Cr	₹1,908 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of 4 Nov 2026. How it works →

Overall score

41 Weak

Data confidence 100/100

Category scores

Quality: 27; Poor; Returns, margins, earnings quality 22% weight
Valuation: 46; Average; Cheap vs sector & own history 24% weight
Growth: 78; Strong; Sales & profit trajectory 9% weight
Financial Health: 16; Poor; Solvency, leverage, coverage 9% weight
Momentum: 60; Good; Trend strength, vol-adjusted 12% weight
Ownership: 35; Poor; FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

No strengths listed

Weaknesses

Company has a low return on equity of 5.21% over last 3 years.
Dividend payout has been low at 14.6% of profits over last 3 years

Technical Indicators

Technical signals: verdict and indicator counts
Group	Signal	Bearish	Neutral	Bullish
Overall	Strong Bullish	5	2	12
Oscillators	Bearish	4	2	3
Moving Averages	Strong Bullish	1	0	9

Oscillators

Bearish

Neutral

Bullish

Overall

Strong Bullish

Bearish

Neutral

Bullish

Moving Averages

Strong Bullish

Bearish

Neutral

Bullish

Key readings

RSI (14): 64.33; Neutral
MACD (12,26,9): −4.81; Bullish
SMA (50): 3,099.15; Bullish
SMA (200): 2,987.15; Bullish

As of 4 Nov 2026

Analyst Rating

Based on 9 analysts

9 of 9 analysts rate Buy, 0 Hold, 0 Sell.

As of 4 Nov 2026

BUY

100%

HOLD

SELL

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y	+17.66%
5Y	+18.09%
3Y	+14.25%
1Y	+18.15%
TTM	+19.51%

Net profit

Net profit growth by window
10Y	+11.54%
5Y	+8.07%
3Y	−2.40%
1Y	+32.80%
TTM	+33.09%

Operating cash flow

Operating cash flow growth by window
10Y	Turned negative
5Y	Turned negative
3Y	Outflow widened by ₹5,125 Cr
1Y	Outflow widened by ₹640 Cr
TTM	—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y	+3.55 pp
5Y	−3.70 pp
3Y	+2.34 pp
1Y	+1.66 pp
TTM	+1.22 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017	₹36,068 Cr
Mar 2018	₹55,894 Cr
Mar 2019	₹77,200 Cr
Mar 2020	₹68,252 Cr
Mar 2021	₹76,404 Cr
Mar 2022	₹95,701 Cr
Mar 2023	₹1,17,627 Cr
Mar 2024	₹1,30,978 Cr
Mar 2025	₹1,48,478 Cr
Mar 2026	₹1,75,431 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017	₹4,246 Cr
Mar 2018	₹3,688 Cr
Mar 2019	₹2,745 Cr
Mar 2020	₹6,639 Cr
Mar 2021	₹6,987 Cr
Mar 2022	₹11,206 Cr
Mar 2023	₹11,078 Cr
Mar 2024	₹9,926 Cr
Mar 2025	₹7,756 Cr
Mar 2026	₹10,300 Cr

Analyst Forecasts

Forecast For

FY27 consensus · EBITDA

₹20,195 Cr

Reported High Mean Low

Analyst consensus here uses a different definition from reported ebitda (they differ 8.3× on periods where both exist), so the forecast is shown on its own rather than joined to the reported line.

AI Analysis — Bull vs Bear

Figures as of 3 Nov 2026

AI opinion · based on fundamentals

Risk high

Grasim Industries Ltd trades at ₹3,090 as of 2026-11-03 with a market cap of ₹2,11,777 crore and a P/E of 37.34x. The company has delivered strong 10-year compounded sales growth of 18% but carries a debt-to-equity ratio of 2.2 and a return on equity of just 6.06%, reflecting the capital-intensive nature of its diversified operations spanning cement, chemicals, and its newer paints business.

Bull Case 7

TTM profit growth of 40% indicates a sharp earnings recovery after three years of compounded profit decline of -10%
Compounded sales growth of 18% over 5 years and 14% over 3 years demonstrates consistent top-line expansion across business cycles
TTM revenue growth of 20% shows continued momentum in the most recent period
10-year compounded sales CAGR of 18% reflects a long track record of scaling revenue through organic and inorganic initiatives
Stock price CAGR of 13% over 10 years and 14% over 3 years shows sustained long-term wealth creation for shareholders
Trading at ₹3,090 against a 52-week high of ₹3,411, the stock is about 9.4% below its peak, suggesting it has held up relatively well within its range
10-year compounded profit growth of 8% alongside 18% sales CAGR indicates the business has been able to grow earnings over a full cycle despite interim volatility

Bear Case 8

Debt-to-equity ratio of 2.2 is elevated, pointing to significant leverage on the balance sheet that increases financial risk
Return on equity of 6.06% and ROCE of 6.58% are low, suggesting the company is not generating strong returns on deployed capital
3-year average ROE of just 5% and last year ROE of 5% indicate persistently weak capital efficiency
P/E of 37.34x is a premium multiple given the modest ROE of 6.06%, implying the stock prices in significant future improvement
Dividend yield of only 0.33% and a payout ratio of just 14.6% of profits over the last 3 years offer minimal income to shareholders
3-year compounded profit growth of -10% shows that earnings actually contracted on a medium-term basis despite top-line growth
Price-to-book ratio of 2.02x combined with sub-7% ROE means the market values the company well above book value despite below-cost-of-equity returns
5-year compounded profit growth of only 2% versus 18% sales growth highlights significant margin compression or rising costs over the period

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Grasim had a constructive few weeks with no material headwinds. The quashing of a ₹329 crore tax claim removes a lingering fiscal overhang, while the new ECH plant adds revenue capacity in specialty chemicals. The Suzlon MoU is early-stage but signals diversification into sustainable materials. The near-term trend is mildly positive, with execution at the new Gujarat facility and progress on the wind blade pilot worth monitoring.

Positives 3

₹329Cr tax claim quashed Oct 22

Bombay High Court quashed a ₹329 crore income tax reassessment claim related to Grasim's subscription of 230.9 crore Vodafone Idea rights shares at ₹12.50 each in FY20, ruling Section 56(2)(x) did not apply and the notice was issued beyond the limitation period.
ECH plant goes commercial Oct 21

Grasim started commercial production at its 50,000 TPA Epichlorohydrin plant in Vilayat, Gujarat on October 21, 2026, strengthening its downstream chlor-alkali derivatives portfolio.
Recyclable wind blade MoU Nov 4

Grasim, Aditya Birla Renewables, and Suzlon signed an MoU to commercialize Recyclamine® epoxy technology for chemically recyclable wind turbine blades, with a pilot deployment planned at an Aditya Birla Renewables project site.

Quarterly Results

₹ Cr

GRASIM quarterly results, ₹ crore
Particulars	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	31,065	30,221	31,965	37,727	34,610	34,223	35,378	44,267	40,118	39,900	44,312	51,101	48,716
Expenses	24,708	24,173	25,073	29,835	27,927	28,197	28,575	35,517	31,296	32,228	35,442	40,227	37,565
Operating Profit	6,357	6,048	6,893	7,892	6,682	6,026	6,804	8,750	8,822	7,671	8,870	10,874	11,152
OPM %	20%	20%	22%	21%	19%	18%	19%	20%	22%	19%	20%	21%	23%
Other Income	296	285	256	−48	247	403	382	485	376	406	65	143	318
Interest	2,032	2,226	2,433	2,586	2,795	3,027	3,270	3,407	3,551	3,669	3,909	4,015	4,298
Depreciation	1,183	1,245	1,244	1,329	1,443	1,572	1,608	1,831	1,810	1,899	1,975	2,042	1,988
PBT	3,438	2,862	3,473	3,928	2,691	1,830	2,308	3,996	3,837	2,510	3,051	4,960	5,183
Tax %	25%	29%	25%	31%	23%	46%	25%	26%	28%	40%	27%	26%	26%
Net Profit	2,576	2,024	2,603	2,722	2,066	983	1,734	2,973	2,771	1,498	2,233	3,684	3,846
EPS (₹)	23.17	17.1	22.25	20.8	16.33	4.78	12.45	21.98	20.87	8.13	15.23	27.86	31.53

Profit & Loss

₹ Cr

GRASIM profit and loss, annual, ₹ crore
Particulars	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	31,734	34,487	36,068	55,894	77,200	68,252	76,404	95,701	1,17,627	1,30,978	1,48,478	1,75,431	1,84,029
Expenses	26,590	28,576	28,682	44,281	60,560	57,880	57,769	75,270	96,038	1,03,783	1,20,216	1,39,135	1,45,462
Operating Profit	5,144	5,911	7,387	11,612	16,640	10,373	18,635	20,431	21,589	27,195	28,262	36,296	38,567
OPM %	16%	17%	20%	21%	22%	15%	24%	21%	18%	21%	19%	21%	21%
Other Income	530	1,320	1,076	410	−1,846	7,076	1,130	1,648	3,733	783	1,517	1,047	932
Interest	667	718	702	3,663	6,060	6,890	5,723	4,776	6,044	9,277	12,500	15,144	15,891
Depreciation	1,563	1,834	1,808	2,724	3,571	4,004	4,033	4,161	4,552	5,001	6,454	7,726	7,904
PBT	3,443	4,679	5,952	5,635	5,163	6,554	10,009	13,143	14,727	13,700	10,825	14,473	15,704
Tax %	30%	26%	29%	35%	47%	−1%	30%	15%	25%	28%	28%	29%	—
Net Profit	2,582	3,455	4,246	3,688	2,745	6,639	6,987	11,206	11,078	9,926	7,756	10,300	11,261
EPS (₹)	36.75	51.15	65.64	39.43	24.91	64.9	63.3	111	100	85.42	54.46	72.98	82.75
Div. Payout %	9%	9%	8%	15%	27%	6%	14%	9%	10%	12%	18%	14%	—

Balance Sheet

₹ Cr

GRASIM balance sheet, annual, ₹ crore
Particulars	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	92	93	93	131	132	132	132	132	132	133	136	136
Reserves	23,048	27,336	31,294	57,230	57,888	56,501	65,362	75,567	78,610	88,520	97,373	1,03,334
Borrowings	11,930	12,505	9,213	67,070	84,487	84,777	79,078	74,744	1,03,039	1,37,155	1,86,326	2,27,853
Other Liabilities	18,963	19,642	22,147	83,467	98,620	1,02,772	1,22,777	1,38,706	1,55,042	1,86,309	2,16,206	2,37,811
Total Liabilities	54,033	59,576	62,747	2,07,899	2,41,127	2,44,181	2,67,349	2,89,149	3,36,823	4,12,116	5,00,040	5,69,134
Fixed Assets	31,828	34,271	34,786	69,257	87,129	87,736	85,023	88,996	94,896	1,00,494	1,41,148	1,49,452
CWIP	2,755	1,788	1,297	2,290	2,766	3,904	5,769	6,615	7,778	18,358	14,765	16,465
Investments	7,255	10,601	14,200	65,995	62,747	66,337	88,017	96,766	1,05,355	1,29,306	1,40,496	1,54,982
Other Assets	12,194	12,916	12,464	70,356	88,484	86,204	88,540	96,771	1,28,793	1,63,959	2,03,632	2,48,236
Total Assets	54,033	59,576	62,747	2,07,899	2,41,127	2,44,181	2,67,349	2,89,149	3,36,823	4,12,116	5,00,040	5,69,134

Cash Flow

₹ Cr

GRASIM cash flow, annual, ₹ crore
Particulars	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating	4,594	5,868	7,288	−4,140	−1,659	16,620	15,075	7,038	−12,685	−10,719	−17,170	−17,810
Investing	−2,359	−4,515	−3,509	1,546	−2,212	−11,364	−7,146	−1,053	−13,712	−23,114	−23,313	−17,798
Financing	−2,278	−1,365	−3,799	3,449	4,158	−3,418	−8,003	−6,733	26,469	33,908	42,978	33,523
Net Cash Flow	−42	−11	−20	856	287	1,838	−75	−748	72	75	2,495	−2,085
Free Cash Flow	1,315	3,120	5,495	−7,186	−5,667	11,638	11,525	−1,467	−24,610	−30,042	−33,688	−33,130
CFO/OP	95	119	112	−21	1	177	91	49	−49	−30	−52	−42

Ratios

GRASIM financial ratios, annual
Particulars	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	30	32	30	34	32	31	21	21	18	19	23	23
Inventory Days	207	168	163	170	154	179	179	200	180	194	179	130
Days Payable	102	97	117	146	133	172	229	239	216	221	177	152
Cash Conversion Cycle	136	103	76	58	53	38	−29	−18	−17	−7	25	1
Working Capital Days	−44	−56	−19	−95	−47	−84	−103	−88	−75	−91	−105	−81
ROCE %	9%	11%	13%	10%	8%	8%	9%	9%	10%	9%	8%	8%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

70 extracted metrics across FY10–FY27.

Shareholding Pattern

As of Sep 2026

Promoters 45.20%
FIIs 17.09%
DIIs 15.25%
Others 12.18%
Public 10.28%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Q1 FY27 concall · Aug 2026
Transcript PPT Recording
Q4 FY26 concall · May 2026
Transcript PPT Recording
Q3 FY26 concall · Feb 2026
Transcript PPT
Q2 FY26 concall · Nov 2025
Transcript PPT Recording
Q1 FY26 concall · Aug 2025
Transcript PPT

Frequently Asked Questions about Grasim Industries

What does Grasim Industries Ltd do?

Grasim Industries Limited is the flagship company of the Aditya Birla group, it ranks amongst India's largest private sector companies. On standalone basis, GIL’s core businesses comprise of viscose Staple fibre (VSF), caustic soda, speciality chemicals, rayon-grade wood pulp (RGWP) with plants at…

Where is Grasim Industries Ltd (GRASIM) listed?

Grasim Industries Ltd trades as GRASIM on the NSE and under code 500300 on the BSE.

Which sector does Grasim Industries Ltd belong to?

Grasim Industries Ltd is classified under the Construction sector, in the Cement industry.

What is the PE ratio of Grasim Industries Ltd?

Grasim Industries Ltd trades at a PE ratio of 37.92 as of 4 Nov 2026, on earnings per share of ₹82.75, against a book value of ₹1,530.51 per share.

What is the 52-week high and low of Grasim Industries Ltd?

Over the last 52 weeks Grasim Industries Ltd has traded between ₹2,502.5 and ₹3,411.1 as of 4 Nov 2026.

Does Grasim Industries Ltd pay dividends?

Grasim Industries Ltd has a dividend yield of 0.32%.

What is the Return on Equity (ROE) of Grasim Industries Ltd?

Grasim Industries Ltd reported a return on equity of 4.98%. Its debt-to-equity ratio is 2.20.

For AI agents and developers

Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/GRASIM.md for Grasim Industries Ltd: dated key facts, then this page's sections in order: latest price, key fundamentals, peer comparison, the Tapetide Score, technical indicators, analyst ratings, growth rates, analyst forecasts, the AI analysis and news digest (labelled as AI-generated), financial statements, shareholding pattern, documents and the FAQ.

Append .md to any Tapetide URL for the same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live, structured queries instead of documents, use our Indian stock market MCP server.

Explore More

More Cement stocks → FII DII Data Stock Screener Nifty 50 Heatmap F&O Ban List FII and DII flows, month by month How Tapetide Scores changed, month by month Stocks mutual funds are buying, month by month

Grasim Industries

Key Fundamentals

Peer Comparison

Overall score

Category scores

Key Insights

Weaknesses

Technical Indicators

Oscillators

Overall

Moving Averages

Key readings

Analyst Rating

Growth Rate

Revenue

Net profit

Operating cash flow

Operating margin· change in pp

Revenue by year

Net profit by year

Analyst Forecasts

AI Analysis — Bull vs Bear

AI News Digest

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Insights

Shareholding Pattern

Documents

Frequently Asked Questions about Grasim Industries

Company Information

For AI agents and developers

Explore More