Grasim Industries Limited has announced robust financial results for the third quarter of fiscal year 2026, with consolidated revenue reaching a record high of ₹44,312 Cr., representing a 25% year-on-year growth. The company's Board of Directors approved these unaudited financial results during their meeting on February 10, 2026.

Outstanding Financial Performance

The company delivered exceptional performance across key financial metrics during Q3FY26. Consolidated EBITDA grew by 33% YoY to ₹6,215 Cr., while adjusted PAT surged 42% to ₹1,168 Cr., demonstrating strong operational leverage and improved cost efficiencies.

Standalone revenue crossed a historic milestone of ₹10,000 Cr., reaching ₹10,432 Cr., up 28% YoY, driven by robust growth from Paints and B2B E-commerce businesses coupled with stable performance from core Cellulosic Fibres and Chemicals segments.

Business Segment Highlights

Cellulosic Fibres Performance

The Cellulosic Fibres segment reported revenue of ₹4,298 Cr., up 9% YoY, with CSF sales volume growing 7% YoY to 219KT. Specialty sales volumes surged 31% YoY, led by higher exports. EBITDA stood at ₹491 Cr., up 48% YoY, benefiting from operating efficiencies and lower input costs.

Chemicals Business

Caustic sales volumes reached a record high of 313 KT, up 4% YoY. Overall Chemicals business revenue stood at ₹2,345 Cr., up 5% YoY, though EBITDA declined 4% YoY to ₹315 Cr. due to lower ECU and reduced profitability in Specialty Chemicals.

Building Materials Segment

The Building Materials segment delivered exceptional performance with revenue of ₹25,173 Cr., up 30% YoY, and EBITDA of ₹3,737 Cr., up 33% YoY. Key highlights include:

Earnings Call and Investor Communication

Following the financial results announcement, Grasim Industries conducted an earnings call on February 11, 2026, to discuss the Q3FY26 performance with investors and analysts. The company has made the audio recording of this earnings call available on its official website, ensuring transparency and accessibility for stakeholders who could not participate in the live session.

Board Meeting and Regulatory Compliance

The Board of Directors convened on February 10, 2026, from 3:25 p.m. to 5:24 p.m. (IST) to review and approve the financial results for both standalone and consolidated operations covering the quarter and nine months ended December 31, 2025. The approval process included thorough review and recommendations from the Audit Committee, ensuring proper oversight and governance.

Growth Outlook

Grasim Industries is strategically positioned to capitalize on India's accelerating economic momentum, driven by sustained public capex, infrastructure expansion, and manufacturing-led growth. The company's diversified portfolio across Cellulosic Fibres, Chemicals, Cement, Paints, and Financial Services provides multiple growth engines aligned with the Government's Viksit Bharat vision.

Grasim Industries Limited has filed its quarterly monitoring agency report for the period ended December 31, 2025, confirming compliance with regulatory requirements and no deviation in fund utilization from its rights issue proceeds. The report was submitted to BSE Limited and National Stock Exchange of India Limited on February 10, 2026.

Rights Issue Overview

The company's rights issue, conducted from January 17, 2024, to January 29, 2024, raised ₹3,999.80 crore through the allotment of 2,20,70,910 equity shares at ₹1,812 per share. CARE Ratings Limited serves as the monitoring agency for tracking the utilization of these proceeds.

Fund Utilization Progress

The monitoring report reveals that during Q3FY26, the company utilized ₹0.65 crore from the rights issue proceeds specifically for general corporate purposes, primarily towards salary payments. The total amount allocated for general corporate purposes in the offer document was ₹977.65 crore.

Monitoring Account Status

As of December 31, 2025, the company maintains ₹0.14 crore in its Axis Bank monitoring account. The report indicates that while unutilized general corporate purpose proceeds stand at ₹0.21 crore, the actual monitoring account balance is lower due to the utilization of issue expense proceeds towards general corporate purposes in Q4FY25.

Regulatory Compliance

The monitoring agency report confirms full compliance with SEBI regulations, specifically Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Regulation 82(4) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The report was verified by Nerkar & Co., a peer-reviewed audit firm, through their certificate dated February 03, 2026.

Key Confirmations

The monitoring agency report provides several key confirmations regarding the rights issue proceeds:

• All utilization aligns with disclosures in the offer document
• No material deviations from expenditures disclosed in the offer document
• No changes in the means of finance for disclosed objects
• No major deviations observed from earlier monitoring reports
• No unfavorable events affecting the viability of stated objects

The company's promoter shareholding increased from 42.75% as of December 31, 2023, to 43.22% as of December 31, 2025, following the rights issue. The report confirms that there remains a pending amount of ₹5.01 crore to be collected from investors, with the company having until March 2027 to utilize the net proceeds according to the offer document terms.