Grasim enjoys bullish Street view after Q4 beat

Grasim Industries’ financials beat consensus estimates in the fourth quarter of financial year 2026 (Q4FY26) as earnings before interest, tax, depreciation and amortisation (Ebitda) rose 2.5 times year-on-year (Y-o-Y) to ₹540 crore.

- DEVANGSHU DATTA

Margins expanded 210 basis points (bps) Y-o-Y to 4.6 per cent even as they were flat quarter-on-quarter (Q-o-Q).

Adjusted loss was at ₹120 crore, compared to a loss of ₹210 crore in Q4FY25. Birla Opus’ paints revenue market share expanded by 370 bps to cross 10 percent. In the Viscose Stable Fibre (VSF) segment, sales volume grew 11 percent Y-o-Y, with realisation up 2 per cent Y-o-Y. Ebitda rose 100 per cent Y-o-Y to ₹590 crore. The operating profit margin (OPM) expanded 550 bps Y-o-Y to 13 per cent. In chemicals, volume grew 11 per cent Y-o-Y, while realisation declined 4 per cent Y-o-Y. Ebitda rose 3 per cent Y-o-Y to ₹300 crore. OPM contracted 50 bps Y-o-Y to 12 percent.

In Q4FY26, B2B e-commerce revenue more than doubled Y-o-Y. FY26 revenue was close to guidance of ₹8,500 crore. The paint segment revenue grew 52 per cent Y-o-Y to ₹1,400 crore and B2B revenue rose 2.3 times Y-o-Y to ₹2,850 crore.

In FY26, revenue was ₹41,040 crore, up 30 per cent Y-o-Y. The Ebitda rose 55 per cent to ₹1,770 crore. The adjusted profit after tax (PAT) was at ₹420 crore, up 30 per cent Y-o-Y. OPM expanded 70 bps Y-o-Y to 4.3 per cent.