Grasim Q2 Standalone Profit Rises 187% to Rs 2,306 Crore

Grasim Industries said on 13 November 2026 that its standalone net profit for the July to September quarter (Q2 FY27) rose 187% to Rs 2,306 crore, from Rs 805 crore in the same quarter a year earlier. Standalone revenue reached a record Rs 12,747 crore, up 33% from a year earlier.

The Aditya Birla Group company said the quarter included a dividend of Rs 3,968 crore from UltraTech, which counts in standalone results but drops out of the consolidated accounts. On a consolidated basis, Grasim reported a loss of Rs 234 crore attributable to its owners, against a profit of Rs 595 crore a year earlier, after an exceptional charge of Rs 767 crore linked to AV Group NB Inc., its pulp joint venture in Canada.

Grasim Industries Q2 FY27 at a glance

Why Grasim's standalone and consolidated results moved apart

Grasim's standalone accounts cover the businesses it runs directly, such as cellulosic fibres, chemicals, Birla Opus paints and the Birla Pivot B2B e-commerce platform. Its consolidated accounts also include UltraTech's cement business and Aditya Birla Capital's financial services. The company said standalone EBITDA of Rs 4,615 crore was led by the Rs 3,968 crore UltraTech dividend and a better product mix.

AV Group NB Inc., in which Grasim holds 45%, has temporarily idled its dissolving grade pulp mill at Nackawic, New Brunswick, Canada. Grasim booked a charge of Rs 825 crore in its standalone results and Rs 767 crore in its consolidated results for impairment and estimated exposure in the venture.

Grasim on the UltraTech dividend

"We believe that for this quarter, Standalone results reflect actual underlying performance of the Company, as compared to Consolidated results. The dividend from UltraTech of ₹3,968 Cr. is cash received by the Company, which is accounted in Standalone results, however, gets eliminated in Consolidated results."

How Grasim's businesses grew in Q2 FY27

Building materials revenue rose 23% to Rs 27,378 crore. Financial services revenue rose 32% to Rs 13,990 crore, and the total lending book of the NBFC and housing finance businesses grew about 32% to Rs 2,33,930 crore. Cellulosic fibres revenue rose 29% to Rs 5,344 crore. Birla Opus reported revenue of Rs 1,337 crore and Birla Pivot Rs 2,785 crore for the quarter.

Total consolidated net profit, including the share of minority shareholders, fell about 35% to Rs 1,029 crore from Rs 1,576 crore.

What Grasim said about capex and Birla Opus

Grasim said its FY27 capex budget across its standalone businesses is Rs 3,157 crore, with nearly 45% set aside for growth projects, and that it spent Rs 1,022 crore in the first half. The company said Birla Opus aims to cross a double-digit revenue market share in the second half of FY27.

Where Grasim Industries stands after Q2 FY27

Grasim closed the quarter with record standalone revenue of Rs 12,747 crore and standalone profit of Rs 2,306 crore, helped by the Rs 3,968 crore UltraTech dividend. At the group level, revenue rose to Rs 50,105 crore, while the Rs 767 crore charge for its Canadian pulp venture left owners with a loss of Rs 234 crore. Its board has approved up to C$91.8 million for the venture's proposed rights issue.

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