Grasim Industries Limited — Q1FY27 earnings call summary

Filed 12 August 2026 · Company audio recording

VSF EBITDA roughly doubled YoY despite 4% volume decline; driven by strong pricing and product mix.
B2B e-commerce (Birla Pivot) to achieve EBITDA breakeven by FY27 exit, scaling on existing cost base.
Cement capacity increased by 8.7 MT in Q1 FY27; volumes up 12% YoY; green power mix at 45.6%.
Cement EBITDA up 12% YoY aided by volume growth and lower logistics/power costs.
Capex guidance for FY27 at Rs. 3,157 crore, 45% towards growth; Q1 spend at Rs. 375 crore.
Paints business targeting Rs. 10,000 crore revenue by FY28 with >50% YoY growth in FY27.
Paints Q2 expected weaker due to monsoon season and dealer inventory normalization post Q1 stocking.
Renewable business equity infusion capped below Rs. 1,000 crore in FY27; detailed outlook to be shared separately.