Grasim Industries Q3 results: Company reports net loss of ₹169 crore amid paint business expansion
Grasim Industries’ shares rose 0.89 per cent to ₹2,495.20 on NSE today at 1.55 p.m., despite reporting a net loss of ₹169 crore for Q3FY25, falling short of analysts’ estimated loss of ₹74 crore. The company’s revenue stood at ₹8,120 crore, slightly below the expected ₹8,208 crore.
The Aditya Birla Group flagship’s consolidated revenue grew 9 per cent year-on-year to ₹34,793 crore, while EBITDA declined 9 per cent to ₹4,668 crore in Q3FY25. The company attributed the lower EBITDA to reduced realisations in the cement business and initial investments in its new paint business, Birla Opus.
In a significant expansion move, Grasim’s board approved setting up a 110K TPA lyocell fibre plant at Harihar, Karnataka. The first phase of 55K TPA will be completed by mid-2027 with an investment of ₹1,350 crore.
The company’s paint business, Birla Opus, has made steady progress with four out of six planned plants now operational, including the recently commissioned Chamarajnagar facility in November 2024. The remaining two plants are scheduled for completion in Q4FY25 and Q1FY26.
Major brokerages maintain a positive to neutral outlook, with Jefferies setting a target price of ₹3,125 per share while Morgan Stanley maintains an equal weight rating with a target of ₹2,950.
