Grasim Industries Q2 FY27 results: Firm reports net loss of ₹234 crore YoY; revenue grows to ₹50,105 crore

The Aditya Birla Group firm said the loss included an exceptional charge of ₹767 crore towards impairment/estimated exposure in its pulp joint venture, AV Group NB Inc., Canada.

The firm’s revenue from operations, however, increased 26% year-on-year (YoY) for the quarter at ₹50,105 crore as compared to ₹39,900 crore in Q2 FY26.

On the operation level, the company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) jumped 27% to ₹9,722 crore as against ₹7,672 crore in the corresponding period last year.

The EBITDA margin for Q2 FY27 expanded marginally to 19.4% from 19.23% recorded in the same quarter of the previous fiscal year.

“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,” Grasim Industries said in a statement.

Standalone updates

On a standalone basis, the firm reported its highest-ever revenue of ₹12,747 crore for Q2, marking a yearly increase of 33%, led by continued growth momentum across core and growth businesses. EBITDA rose 158% YoY to ₹4,615 crore, while adjusted profit after tax (PAT), before exceptional items, increased 289% to ₹3,132 crore.

Reported PAT stood at ₹2,306 crore, up 187% year-on-year. The company said the reported profit accounted for an exceptional charge of ₹825 crore towards impairment/estimated exposure in its pulp joint venture, AV Group NB Inc., Canada.

Grasim’s FY27 capex budget is ₹3,157 crore across all standalone businesses, with nearly 45% allocated to growth projects. The total capex spent for H1 FY27 stood at ₹1,022 crore.

Segment check

The company’s cellulosic fibres revenue increased 29% YoY, led by volume growth and a favourable product mix. Chemicals revenue rose 15%, driven by chlorine derivatives and resilience in caustic soda, while cement revenue grew 19%, mainly supported by volume growth and pricing discipline.

Birla Opus reported revenue of ₹1,337 crore, up 35% year-on-year, with the company aiming to cross double-digit market share in H2 FY27.

Birla Pivot’s revenue increased 66% year-on-year to ₹2,785 crore, with its annualised revenue run rate (ARR) trending above ₹11,000 crore. Meanwhile, the total lending portfolio of Grasim’s financial services business, including NBFC and HFC operations, grew 32% YoY to ₹2,33,930 crore.

Following the earnings, Grasim Industries shares were trading at ₹3,028.40 apiece on the National Stock Exchange, falling 2.78%.