Grasim FY25 Revenue Hits Record ₹1.48 Lakh Crore, PAT at ₹3,902 Crore
By Ankur Chandra | Updated at: May 31, 2025 10:43 PM IST
Grasim Industries Ltd released robust Q4 and FY25 financial results, with a consolidated topline of ₹1,48,478 crore during the fiscal, which grew by 13% YoY, its highest ever for FY25. The net profit (adjusted PAT) for the year was ₹3,902 crore, although strategic investments in new businesses had an impact on margins.
Key Financial Highlights
| Metric | Q4 FY25 | Q4 FY24 | YoY Change | FY25 | FY24 | YoY Change |
|---|---|---|---|---|---|---|
| Revenue (₹ Cr) | 44,267 | 37,727 | +17% | 1,48,478 | 1,30,978 | +13% |
| EBITDA (₹ Cr) | 6,548 | 6,196 | +6% | 20,023 | 20,837 | -4% |
| Adjusted PAT (₹ Cr) | 1,559 | 1,908 | -18% | 3,902 | 6,163 | -37% |
| EBITDA Margin (%) | 15% | 16% | – | 13% | 16% | – |
- Standalone FY25 revenue grew 22% YoY to ₹31,563 crore, with EBITDA at ₹2,857 crore and adjusted PAT at ₹376 crore.
Segment-Wise Performance
1. Chemicals
- EBITDA up 52% YoY in Q4 on the back of better caustic soda realisation and profitability in chlorine derivatives.
- However, caustic soda volumes fell 6% YoY on the back of operational challenges at Karwar and Vilayat plants.
- FY25 income grew to ₹8,648 crore and EBITDA stood at ₹1,208 crore.
2. Cellulosic Fibres
- Sales form Q4 increased 8% YoY, but EBITDA fell 36% on increased input costs and competitive imported pricing.
- Revenue in FY25 was ₹15,897 crore; EBITDA ₹1,524 crore.
3. Building Materials
- Q4 FY25 revenue increased to ₹25,232 crore (+30% QoQ) with EBITDA at ₹4,406 crore.
- The cement business (led by UltraTech) contributed ₹23,063 crore to Q4 revenue; domestic grey cement sales were up 10% YoY.
- Pan-India Paints brand Birla Opus has come out as the #3 decorative paints brand (internal estimates), with a market share of over 10% reached.
4. B2B E-Commerce (Birla Pivot)
- Built a ₹5,000 crore annualized revenue run-rate; aims for ₹8,500 crore by FY27.
- Extended product categories, logistics capability and liberalized working capital service.
5. Financial Services (Aditya Birla Capital)
- Total lending book expanded 27% YoY to ₹1,57,404 crore; total AUM rose 17% to ₹5,11,260 crore.
- D2C platform ABCD recorded over 5.5 million users.
6. Renewables, Textiles & Others
- Renewable energy revenue rose 40% YoY; cumulative installed capacity touched 1.5 GWp.
- Textiles revenue was muted at ₹547 crore in Q4 with a marginal EBITDA loss.
Strategic Updates & Capex
- Total standalone capex for FY25 stood at ₹3,513 crore out of a planned ₹4,693 crore.
- Paints business received the largest allocation with ₹2,288 crore spent out of ₹2,976 crore planned.
- Net debt to EBITDA increased to 1.77x (vs 0.74x in FY24) due to high capital expenditure.
Management Commentary
The company noted, “Our investments in new growth engines such as Birla Opus and Birla Pivot are on track to create long-term shareholder value. Despite near-term margin pressures, our diversified portfolio and market leadership across segments position us well for sustained growth.”
Strategic Outlook
Grasim continues to consolidate its leadership in Chemicals, Cement, and Financial Services while aggressively scaling its Paints and Digital B2B businesses. The company expects profitability from these newer ventures to improve as operational leverage kicks in.
With a clear roadmap for scaling capacities and strong demand across infrastructure, housing, and manufacturing sectors, Grasim remains a key proxy for India’s structural growth story.
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