Grasim Industries Reports 26% Standalone Revenue Growth in Q2FY26, BirlaOpus Expands Market Presence

Grasim Industries , a diversified conglomerate, has reported a robust performance in the second quarter of fiscal year 2026, with significant growth in its standalone revenue and expansion of its paints business, BirlaOpus. The company also announced changes in leadership for its paints division.

Strong Financial Performance

Grasim Industries delivered its 21st consecutive quarter of revenue growth, with standalone revenue reaching INR 9,610.00 crores, marking a 26% year-on-year increase. The company's consolidated trailing 12-month revenues approached INR 1,60,000.00 crores, demonstrating consistent growth across its diverse business segments.

BirlaOpus Paints: Expanding Capacity and Market Share

BirlaOpus, Grasim's paints business, has made significant strides in expanding its production capacity and market presence:

Commissioned its sixth and largest plant in Kharagpur, with a capacity of 236 million liters
Total decorative paints capacity increased to 1,332 million liters per annum across six plants
Achieved double-digit market share, including putty revenues
Expanded distribution to over 10,000 towns, surpassing the original guidance of 8,500 towns

Leadership Change in Paints Business

The company announced that Rakshit Hargave, CEO of BirlaOpus, has resigned effective December 6, 2025. Managing Director Himanshu Kapania will oversee the paints business in the interim until a new CEO is appointed. The company emphasized that this transition will not impact the business strategy or growth plans.

Performance Across Business Segments

Business Segment	Revenue	YoY Growth	EBITDA	YoY Change
Cellulosic Fibers	INR 4,149.00 crores	1%	INR 350.00 crores	-29%
Chemicals	Two-year high levels	-	-	-
UltraTech Cement	-	-	INR 966.00/MT	32%
Textiles	INR 586.00 crores	6%	INR 24.00 crores	Returned to profitability
Aditya Birla Renewables	INR 259.00 crores	Nearly doubled	-	-

Key Highlights

Cellulosic fibers segment faced challenges due to higher input costs
Chemicals business performance driven by caustic soda and specialty chemicals
UltraTech Cement sales volume grew 6.9% year-on-year to 33.85 million metric tons
B2B e-commerce platform BirlaPivot showed 15% sequential revenue growth
Net debt declined by INR 292.00 crores to INR 6,861.00 crores

Outlook and Strategy

Grasim Industries remains committed to its growth strategy across all business segments. The company continues to focus on sustainability, with plans to increase renewable energy usage and improve water efficiency. The paints business, BirlaOpus, aims to align its volume market share with its capacity share in the coming years.

Himanshu Kapania, Managing Director, stated, "We remain optimistic about our growth trajectory and are confident in our ability to achieve our stated targets across all business segments, particularly in our paints business where we aim to be the number two player within three years of full-scale operations."

As Grasim Industries navigates through a dynamic market environment, its diversified business model and strategic initiatives position the company for continued growth and market leadership across its various segments.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.20%	+2.16%	+0.27%	+1.69%	+10.28%	+233.23%

Grasim Industries , a flagship company of the Aditya Birla Group, has made significant strides in its commitment to sustainable energy by acquiring 26% equity stakes in two Special Purpose Vehicles (SPVs). This move aligns with the company's strategy to optimize energy costs and meet regulatory requirements for captive power consumption.

Key Acquisitions

Grasim Industries has executed agreements to acquire stakes in:

Pro-Zeal Green Power Eighteen Private Limited
Pro-Zeal Green Power Nineteen Private Limited

These acquisitions are structured through Share Subscription-Cum-Shareholders Agreements and Power Purchase Agreements, aimed at serving as captive renewable energy sources for Grasim's plants in Vilayat, Gujarat, and Balabhadrapuram, Andhra Pradesh.

Transaction Details

Aspect	Details
Stake Acquired	26% in each SPV
Transaction Type	Cash consideration
Completion Timeline	Expected within 30 days of agreement execution
Related Party Transaction	No

Pro-Zeal Green Power Nineteen Private Limited

Aspect	Details
Incorporation Date	September 24, 2025
CIN	U35105GJ2025PTC168159
Registered Office	Ahmedabad, Gujarat
Project Capacity	Approximately 21MW
Project Type	Captive wind-solar hybrid power generation facility
Maximum Investment	Up to Rs. 20.50 crore (in one or more tranches)

Strategic Implications

The acquisitions are expected to deliver multiple benefits for Grasim Industries:

Meeting green energy needs
Optimizing energy costs
Ensuring compliance with regulatory requirements for captive power consumption under electricity laws

These strategic moves underscore Grasim's commitment to sustainable practices and efficient energy management.

Regulatory Compliance

Grasim Industries has affirmed that these acquisitions do not require any governmental or regulatory approvals. The company has made the necessary disclosures in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and related SEBI circulars.

As Grasim Industries continues to expand its green energy portfolio, these acquisitions mark a significant step towards sustainable operations and environmental responsibility.