Grasim Industries Ltd

AGM Details

• AGM held 21 August 2026 via VC/OAVM from 11:30 to 13:00.
• Remote e-voting open 17–20 August 2026.
• Record date for voting: 14 August 2026.
• Shareholders on record: 2,57,762 fully paid-up; 1,572 partly paid-up; 1,656 partly paid-up.
• Attendees: 107 via VC (promoter group 11; public 96).
• Meeting duration: 11:30 a.m.–1:00 p.m.

Key Resolutions and Outcomes

• Adoption of Audited Standalone and Consolidated Financial Statements for FY2026; Ordinary; passed.
• Declaration of Dividend; Ordinary; passed.
• Reappointment of Kumar Mangalam Birla by rotation; Ordinary; passed.
• Reappointment of Sushil Agarwal by rotation; Ordinary; passed.
• Appointment of Deloitte Haskins & Sells Chartered Accountants LLP as Joint Statutory Auditors; Ordinary; passed.
• Ratification of Remuneration of Cost Auditors for FY2026-27; Ordinary; passed.
• Payment of Commission to Non-Executive Directors for five years from 1 April 2026; Ordinary; passed.

Directors & Auditors

• Birla reappointed by rotation; Ordinary; passed.
• Agarwal reappointed by rotation; Ordinary; passed.
• Deloitte Haskins & Sells Chartered Accountants LLP appointed as Joint Statutory Auditors for FY2026-27.

Related Parties & Other Approvals

• No material related party transactions disclosed in relation to the resolutions.

Target and deal summary

• Target: UHG Holdings IFSC Private Limited, incorporated in IFSC GIFT City to own and operate transport assets.
• Turnover: not disclosed as a newly incorporated entity.
• Strategic purpose: strengthens Grasim's business network; outside main line of business.
• Promoter/group involvement: Grasim, UltraTech Cement (subsidiary), Hindalco (promoter) jointly incorporated.
• Related party: UHG Holdings became related party of Grasim Industries Limited.
• Industry/jurisdiction: IFSC finance services; based in Gujarat, India.
• Regulatory approvals: IFSCA approval required.
• Completion timeline: Not Applicable.
• Consideration: equity shares issued by UHG Holdings to Grasim, Hindalco, and UltraTech.
• Shareholding: Grasim 9%, Hindalco 50%, UltraTech 41%.
• Background: formed to own/operate aircraft, ships, and transport assets; incorporated 20 August 2026.
• Size: turnover not disclosed due to new entity.

AGM Details

• AGM held on 21 August 2026 via Video Conference and Other Audio-Visual Means.
• Start time 11:30 am IST; concluded at 1:00 pm IST.
• E-voting cut-off date: 14 August 2026.
• Remote e-voting conducted 17–20 August 2026; AGM voting 15 minutes post proceedings.
• Chairman Kumar Mangalam Birla chaired the meeting via VC.

Key Resolutions

• Adoption of audited standalone and consolidated financial statements for the year ended 31 March 2026.
• Declaration of Dividend.
• Retirement by rotation of Kumar Mangalam Birla.
• Retirement by rotation of Sushil Agarwal.
• Appointment of Deloitte Haskins & Sells LLP as Joint Statutory Auditors for five-year term.
• Ratification of the remuneration of Cost Auditors for 2026-27.
• Payment of Commission to Non-Executive Directors for five years from 1 April 2026.

Voting Status

• Results of remote and AGM voting will be declared and displayed on websites within 2 working days.
• E-voting results to be intimated separately.

Dividend

• Dividend was proposed/declared; per-share amount not disclosed in the summary.

Director Changes

• Retirement by rotation of Kumar Mangalam Birla.
• Retirement by rotation of Sushil Agarwal.

Auditors

• Joint Statutory Auditors appointed for five-year term.

Material Related Party Transactions

• No material related party transactions disclosed.

FY26 performance and growth milestones

• FY26 consolidated revenue ₹1,75,431 crore and EBITDA ₹25,872 crore.
• UltraTech cement capacity crossed 200 million tonnes per annum.
• Birla Opus revenue doubled year-on-year, achieving 10% decorative paints market share (standalone).
• Birla Pivot revenue surpassed ₹8,500 crore annual guidance.
• Aditya Birla Capital completed ₹4,000 crore preferential issue; IFC participation.
• Advent International invested ₹2,750 crore in Aditya Birla Housing Finance.
• Aditya Birla Renewables aims for 10 GW with plan to reach 20 GW.
• Sprng Energy acquisition from Shell adds ~5 GW contracted capacity.
• Dividend of ₹10 per share approved; over 63 years of uninterrupted payouts.
• Five-year capex invested ~₹74,000 crore.

CP Repayment Details

• ISIN INE047A14BD8; 10,000 CP repaid on 18/08/2026; ₹500 crore.
• Full and timely repayment completed; reason: maturity.
• Maturity date: 18/08/2026; actual repayment: 18/08/2026.
• Scrip code: 500300; outstanding amount: Nil.

Financial Performance

• Q1 FY27 revenue: INR 48,716 crores; YoY +21%.
• Standalone Q1 FY27 revenue: INR 11,795 crores; up 28%.
• Standalone EBITDA: INR 1,094 crores; up 107%.
• Birla Opus revenue: INR 1,661 crores; up 64%.
• Birla Pivot revenue: INR 2,548 crores; YoY +75%.
• Consolidated net debt/EBITDA: 1.45x as on 30 Jun 2026.
• Standalone net debt: INR 9,899 crores.
• Standalone capex FY27 plan: INR 3,157 crores; Q1 spend: INR 375 crores.
• Green power mix: 45.6%; renewable capacity: 1.4 GW.

Operations and Segments

• Paints: Birla Opus revenue 1,661 crores; up 64% YoY.
• Paints market share +30 bps QoQ; combined with Birla White Putty near teens.
• Birla Pivot: annualized run-rate above INR 10,000 crores.
• PaintCraft: 6,700+ PIN codes; EMI financing; 90% brand awareness.
• Institutional channel: 11,000 project sites billed; 83+ approvals; 47,000 sites in pipeline.
• AID network: 4,400 active firms; 83+ approvals; 47,000 sites in pipeline.
• Premium portfolio now 65% of sales value.
• Portfolio: 228 products; 1,945 SKUs.
• Reach: 12,100 towns; 1,450+ exclusive outlets; 90% brand awareness.
• Cement: capacity 205.5 MT; volume 41.31 MT; EBITDA 5,146 crores.
• Green energy: renewable power 45.6% of mix; total renewables 1.4 GW.

Capital Allocation and Balance Sheet

• Net debt/EBITDA (consolidated): 1.45x as of 30 Jun 2026.
• Standalone net debt: INR 9,899 crores.
• Aditya Birla Capital raised INR 4,000 crores of equity; Grasim invested INR 2,880 crores at INR 356 per share.
• Standalone capex FY27: INR 3,157 crores; Q1 outlay INR 375 crores (12% of budget).
• AB Renewables target: 9.3 GW capacity; Grasim capex less than INR 1,000 crores this year; closing December.
• Net debt/EBITDA target: below 2 for the year.
• Housing finance portfolio: up 32% to INR 2.2 lakh crores; housing finance crosses INR 50,000 crores.

Q&A Highlights

• Paints: Q1 price hikes ~9%; channel stocking boosted revenue; volumes up ~8% QoQ.
• Royalty: 0.25% of standalone revenue starting from June; cap INR 225 crores.
• Pivot: EBITDA break-even by exit FY27; plan unchanged.
• UBS retail: UBS stores contribute 70–75% of Pivot revenue; UBS mix 15–20% of Pivot.
• AB Renewables: separate analyst session; Grasim involvement to be clarified; transaction closing December.

Outlook and Guidance

• FY27 revenue growth guidance: over 50% YoY.
• Birla Pivot EBITDA break-even by exit FY27; target reaffirmed.
• Royalty charge: 0.25% of standalone revenue from June; cap INR 225 crores.
• Standalone FY27 capex plan: INR 3,157 crores; growth capex ~45%.
• Net debt/EBITDA target: below 2 for the year.
• Renewables: Grasim equity investment up to INR 1,000 crores this year; AB Renewables close by December.

Meeting Details

• Date: 12 August 2026.
• Type: earnings call; mode: audio recording.
• Event/organiser: Grasim Industries Limited.
• Key participants: Company Secretary and Compliance Officer.
• Purpose: discuss unaudited Q1 FY27 standalone and consolidated results for quarter ended 30 June 2026.
• Recording: audio recording of the earnings call is available.