Sharekhan's research report on Grasim Industries
The company reported lower than-expected EBITDA, affected by high raw material costs in the CSF business. Grasim remains on track to achieve a high single digit market share in paints by FY2025 end. Four plants are operational while the Mahad plant will start in Q4FY25 and the sixth plant at Kharagpur will go live by Q1FY26. B2B e-commerce business is progressing as per expectation. Company remains committed to achieve $1 billion revenues in three years.
Outlook
We retain Buy on Grasim with a revised PT of Rs. 2,800, accounting for lower profitability in the standalone business.
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