Sharekhan's research report on Grasim Industries
Company reported marginally higher-than-expected standalone revenues aided by decent revenue growth in both cellulosic fibres and chemicals. OPMs were tad lower with continued losses in new businesses. Grasim remains on track to achieve a high single digit market share in Paints by FY2025 end. Two plants under trial runs while sixth is expected to come by Q4FY2025. Quarterly run-rate of the B2B e-commerce business is rising. It remains committed on achieving $ 1 billion revenues over three years.
Outlook
We retain Buy on Grasim with a revised PT of Rs. 2,975, led by marginal downward revision in valuation of Aditya Birla Capital and Vodafone Idea.
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