Grasim Industries Ltd (GRASIM) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↓

-0.41%

Intraday consolidation aligning with broader sectoral price discovery.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 14.6%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 5.0%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹3,046.22

200-Day DMA ● Overlay

₹2,825.25

14-Day RSI ● Overlay

50.6 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹2.02 Lakh Cr

Large cap

Stock P/E (TTM) Valuation

35.1x

Price / EPS

Book Value (₹) Assets

₹1,520.0

P/B: 2.0x

ROE (%) Quality

5.0%

Net Profit / Equity

ROCE (%) Efficiency

8.0%

EBIT / Capital

Dividend Yield Yield

0.34%

Face Value: ₹10

Debt / Equity Solvency

2.20x

Manageable

EPS (TTM) Per Share

₹84.59

Trailing 12M

OPM (%) Spread

21.0%

EBITDA Margin

Free Cash Flow Cash

-₹33,130 Cr

CFO - Capex

About Grasim Industries Ltd

Grasim Industries Ltd (GRASIM) is a leading Indian enterprise operating in the Cement & Building Materials sector.

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 15.1% × Turnover: 0.85x × Leverage: 3.2x = ROE: 4.98%

✓ Company Strengths (Pros)

• TickerPulse fundamental algorithm rates overall quality at 80/100.

⚠ Key Considerations & Risks (Cons)

• Company has a high debt-to-equity ratio of 2.20x.
• Company has generated a modest return on equity (ROE of 5.0%).

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹1.84 Lakh Cr

Latest PAT

₹11,261 Cr

EPS (TTM)

₹84.59

OPM %

21.0%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales / Revenue	₹31,065 Cr	₹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
Operating Profit (EBITDA)	₹6,357 Cr	₹6,048 Cr	₹6,893 Cr	₹7,892 Cr	₹6,682 Cr	₹6,026 Cr	₹6,804 Cr	₹8,750 Cr	₹8,822 Cr	₹7,671 Cr	₹8,870 Cr	₹10,874 Cr	₹11,152 Cr
OPM %	20.0%	20.0%	22.0%	21.0%	19.0%	18.0%	19.0%	20.0%	22.0%	19.0%	20.0%	21.0%	23.0%
Interest Expense	₹2,032 Cr	₹2,226 Cr	₹2,433 Cr	₹2,586 Cr	₹2,795 Cr	₹3,027 Cr	₹3,270 Cr	₹3,407 Cr	₹3,551 Cr	₹3,669 Cr	₹3,909 Cr	₹4,015 Cr	₹4,298 Cr
Depreciation	₹1,183 Cr	₹1,245 Cr	₹1,244 Cr	₹1,329 Cr	₹1,443 Cr	₹1,572 Cr	₹1,608 Cr	₹1,831 Cr	₹1,810 Cr	₹1,899 Cr	₹1,975 Cr	₹2,042 Cr	₹1,988 Cr
Profit before Tax (PBT)	₹3,438 Cr	₹2,862 Cr	₹3,472 Cr	₹3,928 Cr	₹2,691 Cr	₹1,830 Cr	₹2,308 Cr	₹3,996 Cr	₹3,837 Cr	₹2,510 Cr	₹3,051 Cr	₹4,960 Cr	₹5,183 Cr
Net Profit (PAT)	₹2,576 Cr	₹2,024 Cr	₹2,603 Cr	₹2,722 Cr	₹2,066 Cr	₹983.00 Cr	₹1,734 Cr	₹2,973 Cr	₹2,771 Cr	₹1,498 Cr	₹2,233 Cr	₹3,684 Cr	₹3,846 Cr
EPS in ₹	₹23.17	₹17.10	₹22.25	₹20.80	₹16.33	₹4.78	₹12.45	₹21.98	₹20.87	₹8.13	₹15.23	₹27.86	₹31.53

Annual P&L (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	₹31,734 Cr	₹34,487 Cr	₹36,068 Cr	₹55,894 Cr	₹77,200 Cr	₹68,252 Cr	₹76,404 Cr	₹95,701 Cr	₹1.18 Lakh Cr	₹1.31 Lakh Cr	₹1.48 Lakh Cr	₹1.75 Lakh Cr	₹1.84 Lakh Cr
Expenses	₹26,590 Cr	₹28,576 Cr	₹28,682 Cr	₹44,281 Cr	₹60,560 Cr	₹57,880 Cr	₹57,769 Cr	₹75,270 Cr	₹96,038 Cr	₹1.04 Lakh Cr	₹1.20 Lakh Cr	₹1.39 Lakh Cr	₹1.45 Lakh Cr
Operating Profit	₹5,144 Cr	₹5,911 Cr	₹7,387 Cr	₹11,612 Cr	₹16,640 Cr	₹10,373 Cr	₹18,635 Cr	₹20,431 Cr	₹21,589 Cr	₹27,195 Cr	₹28,262 Cr	₹36,296 Cr	₹38,567 Cr
OPM %	16%	17%	20%	21%	22%	15%	24%	21%	18%	21%	19%	21%	21%
Interest	₹667.00 Cr	₹718.00 Cr	₹702.00 Cr	₹3,663 Cr	₹6,060 Cr	₹6,890 Cr	₹5,723 Cr	₹4,776 Cr	₹6,044 Cr	₹9,277 Cr	₹12,500 Cr	₹15,144 Cr	₹15,891 Cr
Depreciation	₹1,563 Cr	₹1,834 Cr	₹1,808 Cr	₹2,724 Cr	₹3,571 Cr	₹4,004 Cr	₹4,033 Cr	₹4,161 Cr	₹4,552 Cr	₹5,001 Cr	₹6,454 Cr	₹7,726 Cr	₹7,904 Cr
Profit before Tax	₹3,443 Cr	₹4,679 Cr	₹5,952 Cr	₹5,635 Cr	₹5,163 Cr	₹6,554 Cr	₹10,009 Cr	₹13,143 Cr	₹14,727 Cr	₹13,700 Cr	₹10,825 Cr	₹14,473 Cr	₹15,704 Cr
Net Profit	₹2,582 Cr	₹3,455 Cr	₹4,246 Cr	₹3,688 Cr	₹2,745 Cr	₹6,639 Cr	₹6,987 Cr	₹11,206 Cr	₹11,078 Cr	₹9,926 Cr	₹7,756 Cr	₹10,300 Cr	₹11,261 Cr
EPS in Rs	36.75	51.15	65.64	39.43	24.91	64.90	63.30	110.96	100.33	85.42	54.46	72.98	82.75

Balance Sheet (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	₹92.00 Cr	₹93.00 Cr	₹93.00 Cr	₹131.00 Cr	₹132.00 Cr	₹132.00 Cr	₹132.00 Cr	₹132.00 Cr	₹132.00 Cr	₹133.00 Cr	₹136.00 Cr	₹136.00 Cr
Reserves & Surplus	₹23,048 Cr	₹27,336 Cr	₹31,294 Cr	₹57,230 Cr	₹57,888 Cr	₹56,501 Cr	₹65,362 Cr	₹75,567 Cr	₹78,610 Cr	₹88,520 Cr	₹97,373 Cr	₹1.03 Lakh Cr
Borrowings (Debt)	₹11,930 Cr	₹12,505 Cr	₹9,213 Cr	₹67,070 Cr	₹84,487 Cr	₹84,777 Cr	₹79,078 Cr	₹74,744 Cr	₹1.03 Lakh Cr	₹1.37 Lakh Cr	₹1.86 Lakh Cr	₹2.28 Lakh Cr
Total Liabilities	₹54,033 Cr	₹59,576 Cr	₹62,747 Cr	₹2.08 Lakh Cr	₹2.41 Lakh Cr	₹2.44 Lakh Cr	₹2.67 Lakh Cr	₹2.89 Lakh Cr	₹3.37 Lakh Cr	₹4.12 Lakh Cr	₹5.00 Lakh Cr	₹5.69 Lakh Cr
Fixed Assets	₹31,828 Cr	₹34,271 Cr	₹34,786 Cr	₹69,257 Cr	₹87,129 Cr	₹87,736 Cr	₹85,023 Cr	₹88,996 Cr	₹94,896 Cr	₹1.00 Lakh Cr	₹1.41 Lakh Cr	₹1.49 Lakh Cr
Total Assets	₹54,033 Cr	₹59,576 Cr	₹62,747 Cr	₹2.08 Lakh Cr	₹2.41 Lakh Cr	₹2.44 Lakh Cr	₹2.67 Lakh Cr	₹2.89 Lakh Cr	₹3.37 Lakh Cr	₹4.12 Lakh Cr	₹5.00 Lakh Cr	₹5.69 Lakh Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operations (CFO)	₹4,594 Cr	₹5,868 Cr	₹7,288 Cr	-₹4,140 Cr	-₹1,659 Cr	₹16,620 Cr	₹15,075 Cr	₹7,038 Cr	-₹12,685 Cr	-₹10,719 Cr	-₹17,170 Cr	-₹17,810 Cr
Cash from Investing (CFI)	-₹2,359 Cr	-₹4,515 Cr	-₹3,509 Cr	₹1,546 Cr	-₹2,212 Cr	-₹11,364 Cr	-₹7,146 Cr	-₹1,053 Cr	-₹13,712 Cr	-₹23,114 Cr	-₹23,313 Cr	-₹17,798 Cr
Cash from Financing (CFF)	-₹2,278 Cr	-₹1,365 Cr	-₹3,799 Cr	₹3,449 Cr	₹4,158 Cr	-₹3,418 Cr	-₹8,003 Cr	-₹6,733 Cr	₹26,469 Cr	₹33,908 Cr	₹42,978 Cr	₹33,523 Cr
Free Cash Flow (FCF)	₹1,315 Cr	₹3,120 Cr	₹5,495 Cr	-₹7,186 Cr	-₹5,667 Cr	₹11,638 Cr	₹11,525 Cr	-₹1,467 Cr	-₹24,610 Cr	-₹30,042 Cr	-₹33,688 Cr	-₹33,130 Cr

Efficiency Ratios	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days (DSO)	30	32	30	34	32	31	21	21	18	19	23	23
Inventory Days	207	168	163	170	154	179	179	200	180	194	179	130
Cash Conversion Cycle (Days)	136	103	76	58	53	38	-29	-18	-17	-7	25	1
ROCE %	9%	11%	13%	10%	8%	8%	9%	9%	10%	9%	8%	8%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹1,291.92 • Premium / Overvalued

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹3,156.70

DCF Fair Value

₹1,291.92

Graham Number

₹1,700.88

Margin of Safety

-53.2%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹1,291.92

Premium / Overvalued (Margin: -53.2%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹1,257	₹1,246	₹1,235	₹1,224
10%	₹1,280	₹1,269	₹1,257	₹1,246
12%	₹1,304	₹1,292	₹1,280	₹1,269
14%	₹1,327	₹1,315	₹1,303	₹1,292

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹1,292	Fairly Valued
Benjamin Graham Number	₹1,701	Market Priced
Historical Sector P/E	₹1,861	Premium
EV / EBITDA Multiplier	₹3,315	In-Line
Free Cash Flow Yield Model	₹3,094	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 6/9 (Stable Financials)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

6 / 9 Pass

Altman Z-Score

2.66 (Grey Zone (Moderate Solvency))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Elevated leverage at 2.20x

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Managing working capital

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 21.0%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

43.73%

FIIs (Foreign)

14.63%

DIIs (Domestic)

16.13%

Government

0.15%

Public / Retail

25.15%

Swipe → to view historical quarters

Category	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
+ Promoters	42.75%	42.75%	43.05%	43.05%	43.11%	43.11%	43.11%	43.11%	43.11%	43.21%	43.73%	43.73%
+ FIIs (Foreign Portfolio)	12.17%	12.52%	12.70%	13.69%	13.78%	13.50%	13.45%	13.79%	14.37%	14.49%	14.91%	14.63%
+ DIIs (Mutual Funds / Insurance)	16.90%	16.70%	16.69%	16.66%	17.75%	17.90%	18.24%	17.91%	17.27%	16.99%	16.28%	16.13%
+ Public (Retail & HNIs)	27.80%	27.69%	27.24%	26.29%	25.04%	25.17%	24.87%	24.87%	24.92%	24.93%	24.75%	25.15%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Cement & Building Materials.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

GRASIM Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

GRASIM Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

GRASIM Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹4,040.58

Accelerated market share capture in Cement & Building Materials, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹3,535.50

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 35x P/E.

🐻 Bear Case (15%) -12.0%

₹2,777.90

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Cement & Building Materials)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 18:48 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ Grasim Industries Ltd (GRASIM)	Target Stock	₹3,156.70	-0.41%	35.1x	5.0%	8.0%	2.20	₹2.02 Lakh Cr
UltraTech Cement Ltd (ULTRACEMCO)	Grey & White Cement Manufacturing	₹12,362.00	+0.71%	36.6x	11.1%	12.7%	0.31	₹3.16 Lakh Cr
Ambuja Cements Ltd (AMBUJACEM)	Cement & Clinker Production	₹389.80	+0.06%	18.1x	8.9%	5.6%	0.01	₹84,981 Cr
ACC Ltd (ACC)	Portland Cement & Ready Mix Concrete	₹1,237.20	+0.19%	11.7x	10.9%	11.2%	0.02	₹22,211 Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	18:48:37 IST	✓ Live Sync
Financial Statements (10Y)	Grasim Industries Ltd Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

Grasim Industries Ltd

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About Grasim Industries Ltd

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Cement & Building Materials)

Metric Explainer

Stock DNA Methodology

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