Grasim Industries reported a net loss of ₹234 crore in the September quarter. This loss happened because the firm took a ₹767 crore impairment charge for its Canadian pulp venture. Despite this, revenue grew 26 per cent to ₹50,105 crore as many businesses like cement and paints showed strong performance.
Grasim Industries, an Aditya Birla Group company, reported a net loss (attributable to owners) of ₹234 crore in the September quarter against a profit of ₹595 crore logged in the same period last year. The loss was primarily due to a ₹767 crore impairment related to its Canadian pulp joint venture, AV Group NB Inc., which temporarily idled operations due to market conditions and macroeconomic factors.
Revenue increased 26 per cent to ₹50,105 crore (₹39,900 crore), while EBITDA was up 25 per cent to ₹6,513 crore on strong performance across cellulosic fibres, cement, paints and B2B e-commerce businesses.
Capex guidance
Grasim has earmarked ₹3,157 crore in capital expenditure for FY27 across its standalone businesses, with about 45 per cent allocated to growth projects. It spent ₹1,022 crore during the first half.
The company's building materials business, comprising cement, paints and B2B e-commerce, recorded a 23 per cent growth in revenue to ₹27,378 crore, while EBITDA increased 19 per cent to ₹3,510 crore. The cellulosic fibres business reported a 29 per cent jump in revenue to ₹5,344 crore and a 49 per cent rise in EBITDA to ₹522 crore. Global cellulosic staple fibre prices rose 23 per cent year-on-year to $1.85 per kg.
The chemicals business posted a 15 per cent revenue growth to ₹2,759 crore, driven by higher caustic soda volumes and strong performance in chlorine derivatives. However, EBITDA declined 11 per cent to ₹326 crore due to higher power costs and lower profitability in specialty chemicals.
Other businesses
UltraTech Cement's revenue increased 19 per cent to ₹23,295 crore, with consolidated sales volumes rising 13 per cent to 38 million tonnes. Birla Opus, the group's decorative paints business, reported revenue of ₹1,337 crore, up 35 per cent, while volumes grew 20 per cent. The company aims to cross double-digit revenue market share in the organised decorative paints market in the second half of FY27. Its first-half revenue stood at ₹2,999 crore, up 50 per cent.
B2B e-commerce platform Birla Pivot recorded a 66 per cent increase in revenue to ₹2,785 crore, taking its annualised revenue run-rate above ₹11,000 crore. It is targeting revenue of over ₹12,000 crore in FY27 and expects to achieve EBITDA profitability in the second half. In financial services, Aditya Birla Capital's consolidated revenue rose 32 per cent to ₹13,990 crore. Its NBFC and housing finance lending portfolio expanded 32 per cent to ₹2,33,930 crore.