Grasim Industries Q3 results: Consolidated revenue rises 25% YoY to Rs 44,312 cr; net profit up 42%

• Grasim's Q3 FY26 revenue rose 25 percent to Rs 44,312 crore
• Net profit rose 42% to Rs 1,168 crore; EBITDA increased 33% to Rs 6,215 crore.
• Birla Opus paint business reached third spot by revenue market share

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Aditya Birla Group flagship firm Grasim Industries reported a 25 percent annual growth in its consolidated revenue for Q3 FY26 to Rs 44,312 crore, while its net profit attributable to its owners on an adjusted basis grew by 42 percent over the same period to Rs 1,168 crore.

The earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew by 33 percent in the October-December 2025 quarter to Rs 6,215 crore. The company said that the earnings growth was led by strong performance in segments such as cement, paints, chemicals, and its B2B platform Birla Pivot. The company reported its results for the cement business under UltraTech Cement.

On a standalone basis, which includes its paints business under the Birla Opus brand, as well as its fibres and chemicals, textiles, and B2B platforms, Grasim reported a standalone revenue of Rs 10,432 crore, with the company also reporting "stability" in its fibres business amid pressure from low-cost Chinese imports.

Standalone EBITDA for the reported quarter was Rs 585 crore, up by 57 percent year-on-year, although further growth was limited due to the initial investment into the paints and B2B divisions, that are yet to achieve scale.

Paints- market share gain

Grasim said that Birla Opus accelerated its market share gains in the reported quarter, with sequential revenue growth nearly thrice that of the decorative paints industry in India during the quarter. However, the company did not provide its absolute revenue or EBITDA for its paints business separately.

The company said in a release that the paint business, along with its wall putty products, reached the third spot by revenue market share in the industry, with Grasim continuing to invest in growing the dealer and influencer network across cities.

Grasim has invested Rs 10,000 crore into the decorative paints business to develop six paint manufacturing plants with a combined capacity of more than 1.33 billion litres per year, along with marketing and dealer onboarding spends.

It has stated its aim to directly challenge the incumbent top paints maker, Asian Paints, for the top spot in the market. Grasim plans to break even within three years of full-scale operations, with its sixth and final plant being operational at Kharagpur, West Bengal, in 2025.

Capital expenditure for the quarter across Grasim's divisions were Rs 369 crore, with the same for the April-December 2025 period being Rs 1,310 crore, with Grasim adding that capacity expansion in the cellulosic fibres division is on track.

On February 10, shares of Grasim closed 1.15 percent higher on the National Stock Exchange at Rs 2,960 apiece.