Grasim closing in on ₹2 trillion mcap on paint, cement, digital bets: Birla

Grasim Industries' market cap approaches ₹2 trillion as Birla Opus gains share, Pivot scales in e-commerce, UltraTech cements lead, and green businesses expand

Grasim Industries Ltd, the flagship of the Aditya Birla Group, is on the cusp of a historic milestone with its market capitalisation (mcap) approaching the ₹2-trillion mark.

 

This surge was mainly driven by segments such as paints, cement, as well as digital and has been powered by record revenues, diversification, and bold new ventures.

 

At its 78th annual general meeting (AGM) on Tuesday, Chairman Kumar Mangalam Birla told shareholders that Grasim has reached an all-time high market value of about ₹1.95 trillion.

 

“FY25 was, in every sense, a landmark year,” Birla said.

 

“Our consolidated revenue surged to nearly ₹1.5 trillion, a testament to the scale, resilience, and momentum of the enterprise that we continue to build.”

 

 

Founded just days after India’s independence, Grasim has grown from a textiles company into a diversified conglomerate. This spans cement, chemicals, financial services, fibres, renewables, and now paints and e-commerce. 

 

A key driver of its current valuation is Birla Opus, Grasim’s ambitious foray into decorative paints.

 

In less than 18 months, the company has commissioned five plants — with a sixth coming soon — that together will account for 24 per cent of India’s installed paint-making capacity.

 

Since its nationwide launch just six months ago, Birla Opus has already become the third-largest player in the sector.

 

It has crossed double-digit market share when combined with its putty business, he said.

 

The company aims to hit ₹10,000 crore in paint revenues within three years, setting up a head-on contest with Asian Paints, the industry leader. “Birla Opus is truly reshaping the decorative paints market,” Birla said.

 

Alongside paints, Birla Pivot, a B2B e-commerce marketplace for building materials, has scaled quickly to a revenue run rate exceeding ₹5,500 crore.

 

With a presence in 375 cities across 26 states and a catalogue of more than 40,000 products, the platform is projected to surpass ₹8,500 crore in annualised revenue by FY27.

 

Meanwhile, UltraTech Cement, India’s largest cement maker and a Grasim subsidiary, has accelerated consolidation in the sector with the acquisitions of India Cements and Kesoram Cement.

 

UltraTech is set to cross 200 million tonnes of annual capacity this financial year, a full year ahead of schedule.

 

In financial services, Aditya Birla Capital Ltd closed FY25 with assets under management exceeding ₹5 trillion and a loan book of over ₹1.57 trillion, following a merger of its lending units.

 

Its renewables arm, Aditya Birla Renewables, expanded capacity to 1.5 gigawatts (Gw) and targets 1 Gw of annual additions.

 

Grasim also reported record standalone revenue of ₹31,563 crore, up 22 per cent year-on-year (Y-o-Y), and invested ₹17,000 crore towards capital expenditure during FY25. Of this, ₹13,000 crore was growth-related.

 

With India’s economy forecast to expand 6.5 per cent in FY26, Grasim’s diversified bets across infrastructure, finance, digital, and sustainability are likely to keep propelling the stock.

 

As Birla summed it up: “Growth, for Grasim, is not an end in itself. It is a force multiplier.”