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Prices as of 8 Oct 2026 close · Not investment advice

Grasim Industries Limited

NSE: GRASIMCement & Cement Products

Share price

₹2,856.80

-2.20% close of 8 Oct 2026

Market cap ₹1.94L CrP/E 33.9

Business score

How strong the business is, in one number. The parts behind it are in Pro.

58

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹1.94L Cr

P/E ratio

33.9

P/B ratio

1.9

ROCE

8.0%

ROE

5.0%

Dividend yield

0.3%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 8 Oct 2026 close52-week high ₹3,380.5052-week low ₹2,531.10

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales grew 19.5% over the past year, and 14.3% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales improved from 20.4% to 20.9% over the last four years.

Whether it grew faster than its sector

It grew 14.3% a year against a sector median of 8.5% — 5.8 percentage points faster.

Room to re-rate, or risk of de-rating

At 33.9× earnings against a market that pays 23.9× across 2199 companies we can price. Its own industry sits at 35.7×, across 5 companies. It is against its own five-year median of 26.9×, the 59th percentile of its own range.

Whether growth justifies the valuation

Its earnings are falling, so growth cannot justify the price.

Profit growthPrice per ₹1 profitPer 1% growth
Grasim Industries Limited — this one-10%/yr33.9×—
UltraTech Cement17%/yr35.7×₹2.1
Ambuja Cements21%/yr17.9×₹0.85
Shree Cement10%/yr47.7×₹4.8
JK Cement33%/yr39.1×₹1.2
Dalmia Bharat-1%/yr27.6×—

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Cement & Cement Products), it ranks 14 of 34 on returns, 6 of 31 on growth, 4 of 34 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

No durable advantage shows in the numbers: it earns 8.0% on capital, ahead of 59% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

No — Over the last five years the business itself consumed ₹51346 crore of cash before any plant spend, funded mostly borrowed — borrowings rose from ₹74744 crore to ₹227853 crore. And the profit is not backed by cash: it reported a profit over 12 years and consumed cash from the business. Its cash comes back more slowly than it used to: it went from being paid 88 days before it paid its own suppliers to paid 81 days before it paid its own suppliers.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

7 of 9 checks clear · 78%

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Record ₹48,716 crore quarter, with the paints brand up 64% and the ₹10,000 crore paints target held for FY28

Announced 12 Aug 2026 · Consolidated · Unaudited

Revenue

₹48,716 Cr

Revenue vs last year

+21.4%

Revenue vs last quarter

-4.7%

Net profit

₹3,846 Cr

Profit vs last year

+39.0%

Profit vs last quarter

+1.2%

Net margin

7.9%

EPS

₹31.64

Earnings call transcript · 12 Aug 2026

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹1.94L Cr
Prev close
₹2,856.80
52w High
₹3,411
52w Low
₹2,503
Enterprise value
₹4.16L Cr
Beta
1.1
Price CAGR 1y
5.0%
Price CAGR 3y
16.0%
Price CAGR 5y
13.0%
Price CAGR 10y
14.0%

Ratios

Return on assets
1.8%
PEG ratio
-3.4
P/E ratio
33.9
P/B ratio
1.9
EV / EBITDA
11.6
Industry P/E
27.4
ROCE
8.0%
ROCE 5y average
8.8%
ROE
5.0%
Debt / Equity
2.2
Interest coverage
2.0
Dividend yield
0.3%
ROE 3y average
5.0%
ROE last year
5.0%

Annual P&L

Annual revenue
₹1.75L Cr
Annual profit
₹10,300 Cr
Operating margin
21.0%
Net profit margin
5.9%
EBITDA margin
20.7%
Sales growth 3y
14.3%
Sales growth 5y
18.1%
Profit growth 3y
-10.0%
Profit growth 5y
2.0%
EPS
₹73.0
Sales growth TTM
20.0%
Profit growth TTM
40.0%
Dividend payout
14.0%

Quarter P&L

Sales latest quarter
₹48,716 Cr
Profit latest quarter
₹3,846 Cr
YoY quarterly sales growth
21.4%
YoY quarterly profit growth
38.8%
OPM latest quarter
22.9%

Balance Sheet

Book Value
₹1,522
Face Value
₹2.0
Total debt
₹2.28L Cr
Total cash
₹6,188 Cr
Borrowings
₹2.28L Cr
Reserves / Equity
759.8

Cash Flow

Operating cash flow
-₹17,810 Cr
Free cash flow
-₹33,223 Cr
FCF yield
-24.9%
Net cash flow
-₹2,085 Cr

Shareholding

Promoter holding
43.7%
FII holding
14.6%
DII holding
16.1%
Public holding
25.1%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
UltraTech Cem.10,658.0036.43,14,0692.252,603.715.824,648.215.812.7
Grasim Inds2,921.1034.61,98,7910.343,846.350.048,716.221.48.0
Ambuja Cements356.9018.888,6830.56660.0-29.89,500.0-7.75.6
Shree Cement21,780.0048.278,5840.69531.1-17.76,233.118.010.3
J K Cements5,047.0039.938,9970.40274.6-14.54,031.720.315.1
Dalmia BharatLtd1,640.1028.030,7630.55192.0-15.33,890.07.07.6
ACC1,165.5011.521,8870.64147.0-56.35,808.0-4.611.3
Median159.1327.92,7800.3340.6-22.7742.79.57.0

Competes with: ACC Limited, Ambuja Cements, Andhra Cements Limited, Anjani Portland Cement Limited, Barak Valley Cements Limited, Bigbloc Construction Limited, Birla Corporation, Burnpur Cement Limited, Dalmia Bharat, Deccan Cements Limited, HeidelbergCement India Limited, JK Cement, JK Lakshmi Cement Limited, JSW Cement Limited, KCP Limited, Kakatiya Cement Sugar & Industries Limited, Kesoram Industries Limited, Mangalam Cement Limited, NCL Industries Limited, Nuvoco Vistas Corporation Limited, Orient Cement Limited, Prism Johnson Limited, SANGHIIND, Sagar Cements Limited, Saurashtra Cement Limited, Shiva Cement Limited, Shree Cement, Shree Digvijay Cement Co.Ltd, Star Cement Limited, The India Cements Limited, The Ramco Cements, UltraTech Cement, Visaka Industries Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales31,06530,22131,96537,72734,61034,22335,37844,26740,11839,90044,31251,10148,716
Expenses24,70824,17325,07329,83527,92728,19728,57535,51731,29632,22835,44240,22737,565
Material Cost7,4837,6577,5428,0828,6949,298
Change in Inventories208-313-2158379-629
Purchases of Stock-in-Trade2,0502,1512,4092,8793,6703,378
Employee Cost2,6852,5952,7732,8643,0143,026
Other Expenses25,67621,94122,32524,48027,56225,871
Operating Profit6,3576,0486,8937,8926,6826,0266,8048,7508,8227,6718,87010,87411,152
OPM %20202221191819202219202123
Other Income296285256-4824740338248537640665143318
Exceptional items (within Other Income)-67-380-200-85-13
Interest2,0322,2262,4332,5862,7953,0273,2703,4073,5513,6693,9094,0154,298
Depreciation1,1831,2451,2441,3291,4431,5721,6081,8311,8101,8991,9752,0421,988
Profit before tax3,4382,8623,4723,9282,6911,8302,3083,9963,8372,5103,0514,9605,183
Tax %25292531234625262840272626
Net Profit2,5762,0242,6032,7222,0669831,7342,9732,7711,4982,2333,6843,846
EPS in Rs23172221164.781222218.13152832
Diluted EPS in Rs22218.15152932

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales31,73434,48736,06855,89477,20068,25276,40495,7011,17,6271,30,9781,48,4781,75,4311,84,029
Expenses26,59028,57628,68244,28160,56057,88057,76975,27096,0381,03,7831,20,2161,39,1351,45,462
Material Cost26,82331,974
Change in Inventories-814103
Purchases of Stock-in-Trade5,85811,109
Employee Cost9,72211,246
Other Expenses88,32596,307
Operating Profit5,1445,9117,38711,61216,64010,37318,63520,43121,58927,19528,26236,29638,567
OPM %16172021221524211821192121
Other Income5301,3201,076410-1,8467,0761,1301,6483,7337831,5171,047932
Exceptional items (within Other Income)-239-323
Interest6677187023,6636,0606,8905,7234,7766,0449,27712,50015,14415,891
Depreciation1,5631,8341,8082,7243,5714,0044,0334,1614,5525,0016,4547,7267,904
Profit before tax3,4434,6795,9525,6355,1636,55410,00913,14314,72713,70010,82514,47315,704
Tax %3026293547-1301525282829
Net Profit2,5823,4554,2463,6882,7456,6396,98711,20611,0789,9267,75610,30011,261
EPS in Rs3751663925656311110085547383
Diluted EPS in Rs5673
Dividend Payout %9981527614910121814

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
18%
5 years
18%
3 years
14%
TTM
20%

Compounded profit growth

10 years
8%
5 years
2%
3 years
-10%
TTM
40%

Stock price CAGR

10 years
14%
5 years
13%
3 years
16%
1 year
5%

Return on equity

10 years
7%
5 years
7%
3 years
5%
Last year
5%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital929393131132132132132132133136136
Reserves23,04827,33631,29457,23057,88856,50165,36275,56778,61088,52097,3731,03,334
Borrowings11,93012,5059,21367,07084,48784,77779,07874,7441,03,0391,37,1551,86,3262,27,853
Other Liabilities18,96319,64222,14783,46798,6201,02,7721,22,7771,38,7061,55,0421,86,3092,16,2062,37,811
Minority Interest60,30466,395
Total Liabilities54,03359,57662,7472,07,8992,41,1272,44,1812,67,3492,89,1493,36,8234,12,1165,00,0405,69,134
Fixed Assets31,82834,27134,78669,25787,12987,73685,02388,99694,8961,00,4941,41,1481,49,452
CWIP2,7551,7881,2972,2902,7663,9045,7696,6157,77818,35814,76516,465
Investments7,25510,60114,20065,99562,74766,33788,01796,7661,05,3551,29,3061,40,4961,54,982
Other Assets12,19412,91612,46470,35688,48486,20488,54096,7711,28,7931,63,9592,03,6322,48,236
Total Assets54,03359,57662,7472,07,8992,41,1272,44,1812,67,3492,89,1493,36,8234,12,1165,00,5365,69,555

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity4,5945,8687,288-4,140-1,65916,62015,0757,038-12,685-10,719-17,170-17,810
Cash from Investing Activity-2,359-4,515-3,5091,546-2,212-11,364-7,146-1,053-13,712-23,114-23,313-17,798
Cash from Financing Activity-2,278-1,365-3,7993,4494,158-3,418-8,003-6,73326,46933,90842,97833,523
Net Cash Flow-42-11-208562871,838-75-74872752,495-2,085
Free Cash Flow1,3153,1205,495-7,186-5,66711,63811,525-1,467-24,610-30,042-33,688-33,223

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days303230343231212118192323
Inventory Days207168163170154179179200180194179130
Days Payable10297117146133172229239216221177152
Cash Conversion Cycle13610376585338-29-18-17-7251
Working Capital Days-44-56-19-95-47-84-103-88-75-91-105-81
ROCE %9111310889910988

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters434343434343434343434444
FIIs121313141414131414141515
DIIs171717171818181817171616
Public282827262525252525252525
Others0.350.330.310.300.310.310.300.300.310.360.340.34
No. of Shareholders2,39,7802,34,4462,52,3172,53,6712,65,2022,58,9552,55,1692,47,6282,44,7182,38,2082,44,8702,41,017

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year +1.6% (₹2,810.60 → ₹2,856.80)Brick size ₹63.43 (fixed)Bricks 28
₹2,750₹3,000₹3,250₹2,857Nov '25Apr '26Aug '26
Price moved up one brickPrice moved down one brickLast close ₹2,856.80 on 8 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

FY revenue / permanent employees + workers, same basis (calc)

1,45,22,623inr

2026-03-31

News

News and filings about Grasim Industries Limited. Open one to see why it matters.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Uses as raw material

  • Carbon disulphide (CS2)
  • Caustic soda (captive, used in VSF)
  • Coal (captive power & steam)
  • Dissolving-grade wood pulp (rayon-grade wood pulp, RGWP)
  • Emulsions & resins, crude-derivative monomers & packaging (Birla Opus paints)
  • Epichlorohydrin (ECH, glycerine-based) & Bisphenol-A (epoxy production)
  • Natural gas (power)
  • Salt (brine for chlor-alkali)
  • Sulphur / elemental sulphur (feed for sulphuric acid)
  • Sulphuric acid (VSF spin-bath)

Depends on the price of

  • Crude Oil Brent
  • Natural gas
  • caustic_soda
  • coal
  • cotton
  • paper_pulp
  • sulphuric_acid

Buys from

Sells to

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Construction Materials
Industry
Cement & Cement Products
Classification
Construction Materials › Cement & Cement Products
ISIN
INE047A01021

Business segments

  • Building Material $ · 57%
  • Financial Services · 26%
  • Cellulosic Fibres · 10%
  • Chemicals # · 5%
  • Others * · 2%

Plants

  • Birla Opus Paints Kharagpur plant
  • Grasim Balabhadrapuram Chemicals
  • Grasim Ganjam Chemicals
  • Grasim Harihar VSF & Lyocell
  • Grasim Karwar Chemicals
  • Grasim Kharach VSF
  • Grasim Nagda VSF & Caustic Soda complex
  • Grasim Rehla Chemicals
  • Grasim Renukoot Chemicals
  • Grasim Veraval Chemicals & Power
  • Grasim Vilayat VSF, Chemicals, ECH/CPVC & Epoxy complex

News impact

Big market events that reach Grasim Industries Limited, and how the effect spreads.

30 Sept, 14:13 IST · Market event · high impact

JSW Cement to merge with listed arm Shiva Cement

JSW Cement plans to merge its listed arm Shiva Cement, likely lifting Shiva Cement holders and mildly helping JSW Cement, with no real effect on same-name textile firms or big cement rivals.

Construction Materials

Who it hits first

  • JSW Cement, a cement maker, plans to absorb its listed arm Shiva Cement, which makes cement, into one company.
  • Shiva Cement holders face a repricing as the merger swap ratio will set what their shares convert into, though the ratio is not yet disclosed.
  • JSW Cement holders get a simpler group with one listed cement unit, but also take on Shiva Cement's weak balance sheet with negative book value.

Who may gain

  • Shiva Cement holders may gain if the swap offers a premium to the current price, as listed targets often do in mergers.
  • JSW Cement holders may gain modestly over time from lower listing costs and a single pool of cement assets.
  • Lawyers, bankers and advisers on the deal earn fees, but no operating customer gains cement demand from this paperwork merger.

Along the supply chain

Downstream

No direct downstream link — dealers and builders face the same cement supply and prices, since plants and output do not change on announcement.

Upstream

No direct supply-chain link — quarries, coal and freight suppliers to both cement plants see no volume change from a share merger.

Where demand moves

Business

No new cement is ordered or sold because of this merger — builders buy the same bags from the same plants; the only business change is internal, combining two balance sheets.

Capital

Money may rotate toward Shiva Cement shares on hopes of a merger premium, while JSW Cement shares see mild buying on simplification; big rivals see no fresh capital pull.

How it spreads across sectors

Construction Materials

Small consolidation signal as JSW folds its listed arm in-house; large makers like UltraTech and Ambuja see no demand shift.

Textiles

No ripple — Shiva Mills and Shiva Texyarn share only a first name with Shiva Cement and make cloth, not cement.

When it plays out

Immediate

1–7 days: Shiva Cement shares reprice on merger hopes; JSW Cement steadies as investors wait for the swap ratio.

Medium term

1–6 months: shareholder and regulatory votes decide the merger; combined accounts show whether the simplification saved costs.

Short term

1–4 weeks: swap ratio and approvals timetable emerge; textile namesakes drift back as no link is confirmed.

Who it hits first

  • NCC Limited won a Rs 1,076.71 crore drinking water order, excluding GST, for the Yeleru Reservoir multi-village scheme in Anakapalli, Andhra Pradesh.
  • Shares rallied 5% as the win adds clear revenue visibility for the construction firm.
  • The job will be built over coming quarters, turning into billed sales as villages get connected.

Who may gain

  • NCC Limited, a construction firm, as it bills the Rs 1,076.71 crore water contract over time.
  • ACE, a Capital Goods supplier to NCC, as site machines and equipment get ordered.
  • APL Apollo and Jindal Saw, suppliers to NCC, as pipes and materials are procured for the network.
  • Local villages in Anakapalli, as the multi-village scheme brings piped drinking water.

Along the supply chain

Downstream

Downstream, the Andhra Pradesh Rural Water Supply Department, the government buyer, pays NCC as work completes, and village households receive the drinking water.

Upstream

Upstream vendors such as Electrosteel Castings and Jindal Steel, both suppliers to NCC, plus pipe and steel makers, get a chance at project orders, though NCC may split buying across many vendors. Note: SIGIND and CROWN also supply to NCC per the graph but have no fundamentals row, so no signal was emitted for them.

Where demand moves

Business

NCC orders pipes, steel, cement and machines to build the network, so its suppliers see fresh purchase orders while villagers gain water.

Capital

Investors bid up NCC 5% on the win and look at its suppliers, while rivals without new orders stay flat.

How it spreads across sectors

Capital Goods

Makers of pipes and site equipment see a chance for fresh project orders.

Construction

Order-book sentiment improves as a Rs 1,076.71 crore water win shows state spending is flowing.

When it plays out

Immediate

NCC shares hold the 5% gain while the market checks order terms and margin scope this week.

Medium term

Billing builds over quarters as the Yeleru network is laid; state payment pace decides cash flow.

Short term

NCC mobilises men and machines in Anakapalli and starts placing pipe and material orders.

27 Sept, 11:54 IST · Market event · high impact

India takes big step towards green fuel export

India broke ground on a Rs 2,300 crore green methanol plant at Kandla port, helping its unlisted builder while listed cement makers see no real gain.

ChemicalsServicesPower

Who it hits first

  • Assam Petro-Chemicals, the chemical maker building the project, laid the foundation for India's first port-based green methanol plant at Kandla.
  • The 150-tonne-per-day unit costs Rs 2,300 crore in two phases and targets green fuel at $750 a tonne against a $1,300 world price.
  • Anjani Portland Cement, the listed cement maker that shares the APCL ticker, has no part in this chemical project and gets no benefit.

Who may gain

  • Assam Petro-Chemicals, the unlisted builder and future operator, gains a Rs 2,300 crore export plant.
  • Deendayal Port Authority, the government owner of Kandla port, gains handling fees and green-fuel traffic.
  • No listed cement maker in the ranked pool gains — their link is only a ticker mix-up with Anjani Portland Cement.

Along the supply chain

Downstream

Downstream, shipping lines and overseas buyers burn or resell the green methanol, and the small site-concrete need cannot move any big cement seller.

Upstream

Upstream, firms supplying clean power, hydrogen inputs and plant equipment feed the build, but none of the listed cement makers supply this chemical project.

Where demand moves

Business

Builders and equipment suppliers get work through the Rs 1,200 crore first phase by January 2027 and the Rs 1,100 crore second phase by March 2027, then export buyers take the fuel.

Capital

Investor money follows the unlisted plant and port-linked works, while listed cement stocks see no fresh orders to reprice.

How it spreads across sectors

Chemicals

Small positive — a first port-based green methanol model others can copy, but no listed chemical name in the pool books sales today.

Construction Materials

No effect — concrete for one chemical site is too small to change cement demand.

Power

Mild positive over time since green methanol needs large volumes of clean electricity.

Services

Mild positive for port handling at Kandla, though the listed port operator Adani Ports and SEZ does not run Kandla.

A pattern seen before

Cascade chain

  • Kandla e-methanol at $750/tonne vs $1,300 global -> cheaper green ship fuel
  • Cheaper green fuel -> more port handling at Kandla plus clean-power use
  • Steady green exports -> slow long-term pressure on fossil ship fuel

Pattern name

Crude Oil Cascade

Patterns

  • Crude Oil Cascade
  • Election Cascade
  • Energy Transition Cascade

Sectors queried

  • Auto
  • Cement
  • FMCG
  • Infrastructure
  • Oil & Gas

When it plays out

Immediate

In 1–7 days the news is ceremonial — foundation stone only — so listed cement shares should barely react beyond headline noise.

Medium term

In 1–6 months the first 50-tonne-per-day unit heads to January 2027 start-up, with export pricing at $750 a tonne the real test.

Short term

In 1–4 weeks watch for contractor awards and power-supply deals, which decide who really earns from the build.

Who it hits first

  • Grasim/Aditya Birla: ~$1.8bn Sprng acquisition scales renewables platform but adds leverage

Who may gain

  • Aditya Birla Renewables (via Grasim): instant operating-capacity scale-up

Along the supply chain

Downstream

Power off-takers/discoms are unaffected near-term - Sprng's existing PPAs simply transfer to the new owner.

Upstream

Renewable EPC and equipment suppliers (modules, inverters) could see incremental orders if Aditya Birla accelerates Sprng's build-out post-acquisition.

Where demand moves

Business

Grasim acquires an operating renewables IPP (existing capacity changing hands), so there is no new supply created - the transaction reallocates ownership rather than adding or removing industry supply/demand; second-order effect is marginally higher competition for future PPAs and land.

Capital

Modest acquirer-sentiment flow into Grasim on renewables optionality, tempered by leverage/return-dilution; competitor renewables names (ADANIGREEN, TATAPOWER) see only indirect consolidation read-through.

How it spreads across sectors

Construction Materials

Grasim capital allocation tilts further toward energy diversification

Power

ownership consolidation in renewables; competitive intensity marginally up

When it plays out

Immediate

Modest acquirer-sentiment pop for Grasim; renewable peers little changed

Medium term

Renewables capacity ramp and portfolio integration

Short term

Deal-financing/leverage details scrutinised

Who it hits first

  • GRASIM deploys ₹2,880 cr capital to subsidiary
  • ABCAPITAL gets parent endorsement + reduced free-float overhang

Who may gain

  • ABCAPITAL re-rates on parent commitment
  • Bajaj Finance / SBI Cards may see modest rotation pressure as ABCL re-rates

Along the supply chain

Downstream

No impact on ABCL's borrowers or Grasim's cement customers

Upstream

No supply-chain link — purely a balance-sheet reorganisation

Where demand moves

Business

No business-demand impact — purely intra-group capital reorg; ABCL's lending book unchanged

Capital

GRASIM minority shareholders concerned over capital allocation; ABCL minority shareholders gain parent-floor confidence; sector rotation favors ABCL within mid-cap NBFCs

How it spreads across sectors

Construction Materials

GRASIM sentiment weak on capital diversion concern

Financial Services

ABCL positive; modest rotation pressure on mid-NBFC peers

When it plays out

Immediate

GRASIM -1 to -3% on capital allocation; ABCL +3 to +6% on parent commitment

Medium term

Group rationalization may set up GRASIM SOTP re-rating

Short term

ABCL re-rating sustains 2-4 weeks if disbursement growth holds

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

7 Aug 2026unspecified₹10
12 Aug 2025unspecified₹10
6 Aug 2024unspecified₹10
11 Aug 2023unspecified₹10
11 Aug 2022unspecified₹5
11 Aug 2022special₹5
12 Aug 2021unspecified₹5
12 Aug 2021special₹4

Splits, bonuses & buybacks

  • daily-prices repair: 9 rows from NSE's archive (replace 1, delete 1, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.