GRASIM · Construction Materials
Grasim Industries Ltd. reported revenue of ₹30,221 cr for July to September 2023, — on the year and −2.7% on the quarter.
Operating profit (EBITDA) was ₹6,048 cr, a margin of 20.0%, — on the year and −45 bps on the quarter.
Net profit was ₹2,024 cr, — on the year and −21.4% on the quarter, with earnings per share of ₹17.10.
Capital goods and EPC revenue follows project execution, which makes quarters uneven; the order book and new orders tell more about the year than one quarter does. The quarterly statements do not carry the order book, new orders and working capital; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Operating margin on the year, Depreciation falling, Finance cost rising, Swing to loss or profit, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹30,221 cr | ₹31,965 cr | ₹37,727 cr | ₹34,610 cr | ₹34,223 cr | ₹35,378 cr | ₹44,267 cr | ₹40,118 cr | ₹39,900 cr | ₹44,312 cr | ₹51,101 cr | ₹48,716 cr |
| YoY | — | — | — | +11% | +13% | +11% | +17% | +16% | +17% | +25% | +15% | +21% |
| EBITDA margin | 20.0% | 21.6% | 20.9% | 19.3% | 17.6% | 19.2% | 19.8% | 22.0% | 19.2% | 20.0% | 21.3% | 22.9% |
| Other income, % of PBT | 10% | 7% | −1% | 9% | 22% | 17% | 12% | 10% | 16% | 2% | 3% | 6% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 29% | 25% | 31% | 23% | 46% | 25% | 26% | 28% | 40% | 27% | 26% | 26% |
| Net profit | ₹2,024 cr | ₹2,603 cr | ₹2,722 cr | ₹2,066 cr | ₹983 cr | ₹1,734 cr | ₹2,973 cr | ₹2,771 cr | ₹1,498 cr | ₹2,233 cr | ₹3,684 cr | ₹3,846 cr |
| YoY | — | — | — | −20% | −51% | −33% | +9% | +34% | +52% | +29% | +24% | +39% |
| Core profit YoY | — | — | — | −22% | −45% | −40% | −12% | +42% | +47% | +55% | +37% | +41% |
| EPS | ₹17.10 | ₹22.25 | ₹20.80 | ₹16.33 | ₹4.78 | ₹12.45 | ₹21.98 | ₹20.87 | ₹8.13 | ₹15.23 | ₹27.86 | ₹31.53 |
| Flags | · | · | · | ✓ | ✓ | ✓ | 1 | ✓ | ✓ | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Grasim Industries Ltd. reported revenue of ₹30,221 cr (— on the year) and net profit of ₹2,024 cr (— on the year) for July to September 2023.
None of the 2 checks that could run raised a question.
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Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.