Operating revenue rose 25.25 percent to Rs 44,311.97 crore in the December quarter. It stood at Rs 35,378.34 crore in the corresponding period of the previous fiscal.”Consolidated EBITDA in Q3FY26 stood at Rs 6,215 crore, up 33 percent year-on-year, driven by favorable operating leverage and improved cost efficiency,” an earnings statement from Grasim Industries said.
Grasim Industries’ total expenses were 23.36 percent higher at Rs 41,270.21 crore in the December quarter.
Total revenues, including income from other sources, stood at Rs 44,577.19 crore, up 24.7 percent in the December quarter.
Grasim’s revenue from its cellulose fiber business rose 9.24 percent to Rs 3,934.09 crore in the December quarter. This was led by CSF’s sales volume growth of “7 percent year-on-year at 219KT, led by higher exports and recovery of volumes lost due to temporary logistics challenges” in the previous quarter.
Specialty sales volumes increased 31 percent year-on-year, mainly due to higher exports during the quarter.
Revenue from the building materials business grew 30 percent to Rs 25,172.86 crore. A year ago, it stood at Rs 19,369.49 crore in the October-December quarter.
Grasim’s ‘Building Materials’ includes its Cements business, UltraTech, its recently launched Paints business and its B2B e-commerce business, Birla Pivot.
This was led by UltraTech, the country’s largest cement maker, whose consolidated sales volumes for Q3FY26 stood at 38.87 million tonnes (MT), up 15 percent year-on-year. It outperformed the market with volume growth of 22.3% year-on-year.
Birla Opus’ market share gains accelerated in Q3’26, with quarter-on-quarter sales growth of nearly three times the growth rate of India’s Decorative Paints industry.
“According to internal estimates, the combined revenue market share (Birla Opus and Birla Putty) increased by more than 300 basis points year-on-year, strengthening the third position in the industry,” the company said.
Birla Opus, the second largest player by capacity (~24%) in the decorative paints market, continues to steadily increase capacity utilization at its plant.
While its B2B e-commerce business, Birla Pivot, has crossed the Rs 8,500 Cr annualized revenue run-rate (ARR) milestone and is expected to surpass it well ahead of FY27 guidance, the company said.
Sales from the chemicals sector rose 5.34 per cent to Rs 2,345.23 crore in the December quarter.
“The international average spot caustic soda price for the third quarter of 2026 was at a two-year low at USD 443 per tonne, down 14 percent year-on-year. However, domestic caustic realizations remained stable due to the depreciation of the rupee,” the report said.
Similarly, revenues from the financial services segment – Aditya Birla Capital Ltd (ABCL) – rose 27.15 per cent to Rs 11,947.51 crore. A year ago, it stood at Rs 9,395.74 crore.
“Total loan book (NBFC and HFC) grew 30 percent YoY to Rs 1,90,386 crore. Total AUM (AMC, life and health insurance) grew 19 percent YoY to Rs 5,98,166 crore,” the report said.
Revenues from other businesses, including textiles, renewables and insulators, rose 23.93 per cent to Rs 1,009.57 crore. This was “driven by robust performance in the renewable energy and textiles businesses.
Revenue from the textile business grew 11 percent year-on-year to Rs 620 crore.
Grasim’s capital expenditure (capex) for Q3FY26 stood at Rs 369 crore.
Shares of Grasim Ltd settled at Rs 2,954.50 on BSE on Tuesday, up 0.98 percent from the previous closing price.
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