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ADITYA BIRLA .sT IMP I II 111 .L11111111111MI111111111111 gE • m== _ GRASIM Earnings Presentation Q3FY25 February 2025 GRASIM INDUSTRIES LIMITED CREATING AND SCALING GROWTH ENGINES FOR GROWING ECONOMY A FORCE FOR GOOD
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ADITYA BIRLA III • Raystl The lashran yam INF \ CLUB PASSIONAI I LIKI YOU 7. Birla Cellulose ~11Iva 640 • 4' S epotec twist AQUA ARMOR.. BIRLA PIVOT b B Aditya Birla Capital Digital Ltd. Udyce Plus d 111 BIRLA G9T8, GRASIM UltraTech The Engineer's Choice • opus. • PAINTS White Whet. Cement Based Putty porn, BIRLA CAPITAL Life Insurance ADITYA BIRLA CAPITAL CAP CAPITAL Mutual Funds MIX 9.1.1.4 411..11,110.1, ImADITYA BIRLA ABI 2 GRASIM’s LEADERSHIP ACROSS KEY COMPONENTS OF GROWING ECONOMY Growing Digital Economy Aspirational Consumption Fast growing Renewable Energy sector Increasing Financialisation Infrastructure & Housing Demand Focus on Manufacturing growth • Cellulosic Staple Fibre • Cellulosic Fashion Yarn • Linen Textiles • Premium Cotton Fabrics PROXY PLAY ON INDIA’s GROWTH STORY • Grey Cement • White Cement • Ready Mix Concrete • Wall Putty • Decorative Paints • Chlor-Alkali • Speciality Chemicals • Water Treatment, PVC Additives, Industrial Applications • B2B E-Commerce • Aditya Birla Capital Digital • NBFC • Housing Finance • Asset Management • Life & Health Insurance • Solar • Wind • Hybrid • Insulators
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ADITYA BIRLA I---- I L 1 • :---- I I L GRASUIA I I I I I • 1----: L :----: , J I I I I I I J MP I 3 17,723 * 20,837 19,666 4,198 3,573 3,196 FY23 FY24 TTM Consolidated EBITDA Standalone EBITDA 24% 17% 16% TRACK RECORD OF CONSISTENT GROWTH TTM Revenue ₹ 1,39,944 Cr. TTM EBITDA ₹ 19,666 Cr. TTM PAT^ ₹ 3,867 Cr. *FY23 EBITDA excludes fair value gain accounted by Aditya Birla Capital Limited post acquisition of 9.99% stake by ADIA entities in Aditya Birla Health Insurance Limited. PILLARS OF OUR STRATEGY MARKET LEADERSHIP COST LEADERSHIPINNOVATION CAPITAL ALLOCATIONSUSTAINABILITY Consolidated Revenue (₹ Cr.) Standalone % in consolidated Consolidated EBITDA (₹ Cr.) Standalone % in consolidated ^Owner’s share of PAT. 1,17,627 1,30,978 1,39,944 26,840 25,847 29,405 FY23 FY24 TTM Consolidated Revenue Standalone Revenue 23% 20% 21%
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ADITYA BIRLA e6, GRASIM MACRO UPDATES
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11•11.1•11.1•11 • ADITYA BIRLA PI; 1 1 GRASIM 5 MACRO INDICATORS India Merchandise Exports ($bn)Industrial Production – IIP Growth (% YoY) Source: Mospi & RBI. Manufacturing sector witnessed gradual recovery which is reflected in improving growth rates in IIP • Chemicals and Textiles sectors also recorded growth on YoY basis albeit at lower rates Cement volumes recovered sharply recording ~5% YoY growth in Q3FY25 compared to flat volume growth in Q2FY25 India Merchandise Exports for Q3FY25 stood at $109.3 billion recording growth of 3% YoY Average Non-food bank credit growth for Q3FY25 slowed down to 12.4% YoY compared to growth of 13.4% YoY in Q2FY25 4.7 -0.1 3.1 3.7 5.2 5.9 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 IIP (% growth YoY) Average (FY24) 105.9 120.0 108.3 103.3 109.3 90 95 100 105 110 115 120 125 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25
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ADITYA BIRLA e6, GRASIM FINANCIAL HIGHLIGHTS
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ADITYA BIRLA GRASIM ti A r 1' 4, ./ A 1' .i 7 KEY HIGHLIGHTS – Q3FY25 Consolidated Revenue ₹34,793 Cr. up 9% YoY; EBITDA at ₹4,668 Cr. down 9% YoY • Consolidated EBITDA was down due to lower margins in cement business and initial investments for building consumer facing Paints business Cellulosic Fibres: Board approves setting up of 110K TPA Lyocell (Specialty Fibre) plant in phases, taking total Lyocell capacity to 153K TPA • Domestic sales volume of CSF grew by 5% YoY though overall volumes remained flat • Higher key RM costs (DG pulp, Caustic & Sulphur) resulted in lower profitability • CFY volumes grew by 10% YoY; realisations continue to be under pressure due to low priced dumping from China Chemicals: Caustic sales volume growth constrained to 1% YoY due to lower production at Vilayat limited by lower power availability • EBITDA higher by 25% YoY led by improved realisation of Caustic Soda and better profitability in Chlorine Derivatives segment • Specialty Chemicals volume grew by 12% YoY , however lower realisation coupled with higher input costs impacted profitability B2B E-commerce: Healthy revenue scale up across Categories, geographies and new customers • Business on track to achieve USD $1Bn revenue target by FY27 Paints: Commenced commercial production at Chamarajnagar (Nov-24) and Mahad expected in Q4FY25 • Gaining market share across most markets with rapidly expanding distribution network, brand visibility backed by superior product quality • Birla Opus Paints is now the 2nd most visible paints brand in India led by extensive brand outreach activities Cement (UltraTech): Total Capacity (India + Overseas) reached 171.2 MTPA (incl. 14.45 MTPA of The India Cements Limited) • Domestic sales volume grew 10.5% YoY to 28.1 million tons in Q3FY25 • EBITDA sequentially higher by 40% led by volume growth and cost efficiency measures, however lower by 8% YoY due to lower realisation Financial Services (Aditya Birla Capital): Total Lending portfolio (NBFC and HFC) grew 27% YoY to ₹1,46,151 Cr. • Total AUM (AMC, life and health insurance) increased by 23% YoY to ₹5,03,377 Cr. • D2C platform - ABCD, witnessed strong response with more than 4.1 million customer acquisitions* CSF: Cellulosic Staple Fibre; CFY: Cellulosic Fashion Yarn; NBFC: Non-Banking Financial Company; HFC: Housing Finance Companies; AMC: Asset Management Companies; ABCD: Aditya Birla Capital Digital, *till 22nd January 2025
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ADITYA BIRLA GRASIM J.- A - F _=_ 8 PERFORMANCE HIGHLIGHTS – Q3FY25 EBITDA (₹ Cr.)Revenue (₹ Cr.) Consolidated PAT^@ (₹ Cr.) @Owner’s share of PAT; ^PAT adjusted for exceptional items for like-to-like comparison; *Dividend Income EBITDA (₹ Cr.)Revenue (₹ Cr.) Standalone PAT ^ (₹ Cr.) 6,400 7,623 8,120 Q3FY24 Q2FY25 Q3FY25 236 771 (169) Q3FY24 Q2FY25 Q3FY25 31,965 33,563 34,793 Q3FY24 Q2FY25 Q3FY25 5,150 4,042 4,668 Q3FY24 Q2FY25 Q3FY25 1,514 473 899 Q3FY24 Q2FY25 Q3FY25 430 643 1,189* 372 Q3FY24 Q2FY25 Q3FY25 1,619
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-1 1 ADITYA BIRLA GRASIM hillilli 1, - - 9 PERFORMANCE HIGHLIGHTS – 9MFY25 EBITDA (₹ Cr.)Revenue (₹ Cr.) Consolidated PAT^@ (₹ Cr.) EBITDA (₹ Cr.)Revenue (₹ Cr.) Standalone PAT ^ (₹ Cr.) @Owner’s share of PAT; ^PAT adjusted for exceptional items for like-to-like comparison; *Dividend Income * 19,080 22,637 9MFY24 9MFY25 2,131 1,220 655* 1,189* 2,786 2,409 9MFY24 9MFY25 1,386 550 9MFY23 9MFY24 93,251 1,02,216 9MFY24 9MFY25 14,640 13,470 9MFY24 9MFY25 4,255 2,562 9MFY24 9MFY25
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GRASUVI 10 STRONG BALANCE SHEET Consolidated Net debt* to TTM EBITDA stood at 1.64x as on 31st December 2024 against 0.74x as on 31st Mar’24 Consolidated Particulars As on 31st Mar 2024 As on 31st Dec 2024 Net worth (₹ Cr.) 88,652 91,363 Debt - Equity Ratio 0.97 1.15 Debt* - Equity Ratio 0.19 0.31 Net debt* (₹ Cr.) 15,436 32,321 Total debts to Total assets 0.33 0.37 *Excluding borrowing related to financial services business.
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ADITYA BIRLA 1 L M Mr GRASIM 11 5% 8% 11% 11% FY22 FY23 FY24 9MFY25 44% 46% 50% 51% FY22 FY23 FY24 9MFY25 IMPROVING SUSTAINABILITY PERFORMANCE* Awards & Achievements: ➢ Grasim Industries was honored with ‘The Conscious Corporate Award 2024’ at The Economic Times Awards for Corporate Excellence ➢ Grasim CSF achieves #1 ranking in Canopy’s Hot Button Report 2023 and received the highest rating of 'Dark Green Shirt' for the fifth consecutive year, reflecting the sustainability credentials ➢ Grasim Textiles division awarded with ‘Platinum’ category at Global Energy & Environment Foundation (GEEF) Global Sustainability Award 2024 ➢ Grasim Chemicals, Rehla, won 1st price for Energy Conservation in the Chlor-Alkali Sector at the National Energy Conservation Day 2024 Increasing Renewable Power Share Increasing proportion of recycled water to freshwater consumption *Data presented are for standalone businesses, ^includes data for Paints business ^ ^
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ADITYA BIRLA e6, GRASIM CELLULOSIC FIBRES (CSF & CFY)
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ADITYA BIRLA • ■ ■ GRASIM 13 CELLULOSIC FIBRES: FASTEST GROWING IN THE FIBRE BASKET GLOBAL INDIA INDIA CELLULOSIC FIBRE GROWING FASTEST WITH CAGR >2x OF OTHER FIBRES LIVA BRAND driving demand creation for textile value chain MOST SUSTAINABLE fastest biodegradable and environment friendly GROWTH DRIVERS 6% SHARE of Cellulosic Fibres in Textiles fibre basket CELLULOSIC GAP huge growth opportunity due to cotton constraints CY15 CY24 Synthetic Cotton Cellulosic Fibres 3.9% CAGR 3.5% CAGR (0.2%) CAGR CY15 CY24 Synthetic Cotton Cellulosic Fibres 9.6% CAGR 5.4% CAGR (0.4%) CAGR The Board has approved setting up of 110K TPA capacity of Lyocell, the fastest growing Specialty Cellulosic Fibres, at Harihar, Karnataka. The first phase of 55K TPA will be executed by mid-2027 at an investment of ₹1,350 Cr.
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1•I ADITYA BIRLA GRASIM J 14 MACRO TRENDS - CELLULOSIC FIBRES China Operating Rate (in Percentage) China Inventory (in Days) Source: CCFGroup. Global Prices Trend ($/Kg) Price Movement 88 86 89 85 85 Q3FY24 Q2FY25 Q3FY25 9MFY24 9MFY25 10 8 8 13 9 Q3FY24 Q2FY25 Q3FY25 9MFY24 9MFY25 2.18 1.51 1.65 1.65 3.62 2.01 1.79 1.80 1.38 0.92 0.95 0.92 Historic Peak Q3FY24 Q2FY25 Q3FY25 CSF - CCF Cotton (Cotlook) PSF 1.64 $/Kg ( -0.3% ) 1.76 $/Kg ( -2% ) 0.90 $/Kg ( -2% ) Fibres YoY (%) QoQ (%) Dec Exit Price (D over Q3FY25) International CSF (CCF) 9% -0.3% Cotton (Cotlook) -10% 1% International PSF (CCF) 0% -4%
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ADITYA BIRLA .'4**....._. -.111k. W II r J GRASIM 15 KEY OPERATIONAL METRICS CSF Sales (KT) CFY Sales (KT) Sales Volume Mix (CSF) CSF sales volume flat YoY due to production disruptions at Excel Kharach, sequentially the volume decline is on account of seasonality India-centric consumption driving sales volume in the domestic markets CFY volumes higher by 10% YoY , however realisation remains impacted by low priced dumping from China Q3FY25 Export Sales Q3FY25 Domestic Sales Standard Fibre Speciality Fibre 97% 3% 205 219 205 Q3FY24 Q2FY25 Q3FY25 602 636 9MFY24 9MFY25 10.3 11.1 11.3 Q3FY24 Q2FY25 Q3FY25 30.5 31.9 9MFY24 9MFY25 79% 21%
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ADITYA BIRLA J I, GRASIM El 16 FINANCIAL PERFORMANCE Q3FY25 - CELLULOSIC FIBRES Revenue grew 6% YoY led by improved realisation globally and higher share of Speciality fibres in the sales mix • EBITDA declined by 18% YoY mainly due to higher key RM costs (DG Pulp, Caustic & Sulphur) CFY volumes improved on YoY basis, however blended realisations stood at 3-YR low levels due to cheaper imports EBITDA (₹ Cr.)Revenue (₹ Cr.) 402 494 331 Q3FY24 Q2FY25 Q3FY25 1,260 1,230 9MFY24 9MFY25 3,715 4,125 3,934 Q3FY24 Q2FY25 Q3FY25 11,187 11,847 9MFY24 9MFY25 The Board has approved setting up of 110K TPA capacity of Lyocell, the fastest growing Cellulosic Fibre, at Harihar, Karnataka. The first phase of 55K TPA will entail an investment of ₹1,350 Cr. over the next 2 years.
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ADITYA BIRLA e6, GRASIM CHEMICALS (CHLOR-ALKALI, CHLORINE DERIVATIVES & SPECIALITY CHEMICALS)
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ADITYA BIRLA I r 1 , L___,___ , 4 -1 L J • 1 L I GRAMM I 18 ➢ Largest Chlor-Alkali producer in India. Market growing at a steady pace with demand from Alumina, Organic & Inorganic Chemicals, Textiles & FMCG industries. ➢ Maintaining Market leadership position in Chlor-Alkali business with capacity of 1.5 Million MTPA. DIVERSIFIED CHEMICALS PORTFOLIO ➢ Large capacity in Chlorine Derivatives catering to high growth markets such as Pharma, Agrochemicals, Water Treatment, Food & Feed, Plastic additives, Industrial etc. ➢ Presence in high value speciality products such as Chloromethanes and Phosphoric Acid. ➢ Project work of Lubrizol CPVC resin plant for Phase I of 50 KTPA (of total 100 KTPA) at Vilayat is progressing as per plan. ➢ Epichlorohydrin (ECH) 50 KTPA plant construction at Vilayat progressing well, commissioning expected by Q2FY26. Evaluating additional capacity expansion of 50 KTPA. ➢ Chlorine Integration to reach 70% post commissioning of the ongoing projects. ➢ Further, evaluating multiple downstream chlorine chemistries to increase chlorine integration. ➢ Largest producer of Speciality Chemicals (Epoxy Polymers & Curing Agents) in India. Evaluating further doubling of Epoxy capacity with integrated ECH to maintain market share in the growing market. ➢ The business to serve growing end use markets such as construction chemicals and coatings, renewables, electrical and electronics. CHLORINE DERIVATIVES SPECIALITY CHEMICALS CHLOR-ALKALI 1,029 139 1,168 Chlorine Derivatives Existing Capacity (KTPA) Capacity Expansion (KTPA) 246 Speciality Chemicals 1,505 25 1,530 Chlor-Alkali FY26 Q1FY27 14%2%
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se ADITYA BIRLA 12 h i GRASIM 19 FOCUS ON SPECIALITY CHEMICALS WATER TREATMENT PHARMA & HEALTHCARE PVC APPLICATIONS CONSTRUCTION RENEWABLES *Epoxy Polymers & Curing Agents; ^Others include Agrochemicals, Pharma, Food & Feed, etc. Integration includes chlorine consumption for HCL and pipeline sales for dedicated customers MAJOR END-USE APPLICATIONS SPECIALITY CHEMICALS* CHLORINE DERIVATIVES CHLORINE INTEGRATION LEVELS (%) CHEMICALS REVENUE BREAK-UP (Q3FY25) Chlor-Alkali, 55% Speciality Chemicals, 25% Water Treatment Industrial PVC Additives Others^ Chlorine Derivatives, 20% 58% 60% 62% 65% FY22 FY23 FY24 9MFY25
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ADITYA BIRLA GRASIM J ) • • 20 KEY OPERATIONAL METRICS - CHEMICALS CFR SEA Caustic Soda Prices ($/Ton)# Grasim – ECU (₹/Ton) Caustic Soda Sales (KT) Revenue Break-up of Chemicals Business (%) #Source: IHS Report. 299 295 303 Q3FY24 Q2FY25 Q3FY25 897 879 9MFY24 9MFY25 444 471 516 425 485 Q3FY24 Q2FY25 Q3FY25 9MFY24 9MFY25 31,383 30,650 34,041 32,686 32,419 Q3FY24 Q2FY25 Q3FY25 9MFY24 9MFY25 55% 52% 55% 54% 53% 25% 26% 25% 25% 27% 21% 22% 20% 21% 21% Q3FY24 Q2FY25 Q3FY25 9MFY24 9MFY25 Chlor-Alkali Speciality Chemicals Chlorine Derivatives
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ADITYA BIRLA 04 1 r GRASIM p 21 FINANCIAL PERFORMANCE Q3FY25 - CHEMICALS International average Caustic soda prices (CFR-SEA) improved by 16% YoY to $516/MT in Q3FY25 reflected in the domestic market prices • ECU remains impacted by increasing level of negative Chlorine realisation Chemicals business EBITDA up by 25% YoY driven by improved realisation of Caustic Soda and improved profitability in Chlorine derivatives EBITDA (₹ Cr.)Revenue (₹ Cr.) Caustic Soda sales volume grew by 1% YoY • Sales growth constrained due to production limit at Vilayat on account of lower power availability 264 273 329 Q3FY24 Q2FY25 Q3FY25 859 912 9MFY24 9MFY25 1,996 2,054 2,226 Q3FY24 Q2FY25 Q3FY25 6,130 6,346 9MFY24 9MFY25
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ADITYA BIRLA e6, GRASIM BUILDING MATERIALS (CEMENT, PAINTS & B2B E-COMMERCE)
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ADITYA BIRLA • L • • • • • • GRASIM 1 L 1 23 INDIA CEMENT INDUSTRY India is the second largest cement producer in the world, but remains a highly underpenetrated market Source: Industry estimates, research reports. 1,410-1,420 1,110-1,130 950-970 750-770 420-470 420-430 300-330 ~295 280-290 280-290 230-240 China Vietnam Korea Turkey Russia Egypt United States India Brazil Japan Indonesia Per capita Consumption (kg/annum) World average: 500-550 51.1% 9.6%2.7% 1.6% 1.2% 1.6% 32.2% Global Cement Production China India United States Russia Egypt Brazil ROW
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ADITYA BIRLA GRASIM 24 PERFORMANCE UPDATE Q3FY25 - CEMENT (ULTRATECH) Green Power Mix improved to 33.4% (24.1% in Q3FY24) comprising of WHRS^ power of 19.9% and RE Power of 13.5% UltraTech Building Solutions (UBS) outlets increased to 4,432; contributing 19.5% of total domestic grey sales volume Domestic grey cement realisation declined 9.6% YoY and improved by 1.4% QoQ to ₹4,970/MT EBITDA de-grew by 8% YoY at ₹3,131 Cr. mainly due to lower realisations • Domestic operating EBITDA/Mt stood at ₹ 964, higher by 32% QoQ Domestic sales volume grew 10.5% YoY to 28.1 million tons as against ~5% growth in the industry *Including Kesoram’s Cement capacity of 10.75 MTPA, pending regulatory approval for transfer of mines; ^Waste Heat Recovery System The India Cements Limited (ICEM) has become a subsidiary of UltraTech with effect from 24th December 2024 • The total India grey cement capacity is expected to reach 182.8* MTPA by FY25 • Additionally, the overseas capacity stands at 5.4 MTPA
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ADITYA BIRLA I I BIRLA opus4 PAINTS 0 GRASIM 25 GROWING INDIA DECORATIVE PAINTS MARKET MANUFACTURING PROWESS PAN INDIA DISTRIBUTION & REACH MARKET DIFFERENTIATORS WIDE & SUPERIOR PRODUCT RANGE 2nd Largest Player* in Indian Decorative Paints Industry PER-CAPITA CONSUMPTIONINDUSTRY SIZE – FY25e ~₹76,000 Cr. ~3.5 kg (Global average of 10 kg/annum) UN-ORGANISED MARKET ~25% Housing Demand Urbanisation Growing AspirationsPremiumisation Estimated CAGR of >10% over the next decade *In terms of installed capacity by FY25. CUSTOMER DELIGHT
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ADITYA BIRLA 0 GRASIM 26 PERFORMANCE UPDATE Q3FY25 - PAINTS (BIRLA OPUS) 170+ products with over 1000+ SKUs are already placed in the distribution channel • Product quality is garnering excellent feedback from customers, dealers, contractors & painters • Third party certification confirms first of its kind differentiating product features introduced by ‘Birla Opus’ Pan-India dealer and franchise onboarding remains on track • 131 depots are operational across India, 2nd biggest depot network in the industry, supporting quick serviceability to dealers • Towns covered increased to 5,500+ Good demand witnessed from contractors and consumers at the Dealers network leading to increase in counter share • Omnichannel engagement activities with contractors and painters through Opus ID app and WhatsApp Total capex spent stood at ₹9,015 Cr. as on 31st December 2024, ~90% of total project cost Successful Advertisement campaigns “Naye Zamane Ka Naya Paint” and “Duniya ko Rang do” with an extensive outreach to more than 70 Cr. Indians • 2nd most visible brand with Dealer Boards and In-Store branding Commercial production started at Chamarajanagar (Nov-24), out of total six plants four already operational with capacity of 866 MLPA • Mahad trial production commenced, and commercial production expected in Q4FY25 • Kharagpur trial run production is expected to commence in Q1FY26
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ADITYA BIRLA BIRLA P I /OT GRASIM 27 COMPREHENSIVE B2B ECOMMERCE PLATFORM Market Opportunity SKUs 40,000+ 300+ Brands Demand Drivers<2% Digital Penetration VALUE PROPOSITION ASSURED QUALITY COMPETITIVE PRICING GUARANTEED DELIVERY FINANCING SOLUTIONS CEMENT & ALLIED PRODUCT CATEGORIES SANITARYWARE TILES & SURFACES PIPES & FITTINGS PLY & LAMINATES BRICKS & BLOCKS BITUMEN METALS CHEMICALS & POLYMERSSEAMLESS EXPERIENCE >10% CAGR growth across building material categories over the last 3 years MSME enabling efficient procurement and wide reach >$100 bn Market Size of Building Materials Industry E-commerce platform for Building Materials with end-to-end solutions (Demand prediction, Product assortment, Sourcing, Logistics and Financing) STEEL & ALLIED
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ADITYA BIRLA 0 0 GRASIM 28 PERFORMANCE UPDATE Q3FY25 - B2B ECOMMERCE (BIRLA PIVOT) Launched ‘Birla Pivot Bathware’ expanding private label portfolio beyond Tiles and Plywood • Expanded offerings across 35 product categories comprising 40,000+ SKUs sourced from 300+ National and Regional brands Scaling up working capital management and credit programs for buyers and sellers in partnership with multiple lending partners Expanded distribution reach within the Decorative/Finishing categories • Platform now added capabilities of handling unique B2B requirements across both Retail and Project based buyers. Continuous upgradation of the Logistics platform for enabling a B2C like fulfilment experience through Real time track & trace and delivery modules Launched customised self-serve tools driving digital adoption across B2B ecosystem enhancing the user experience • Key features include Self-invoicing, Ledger automation, Digital PoD & WhatsApp workflows for enquiries Revenue in-line with expectations led by new product categories and healthy customer additions • On track to achieve FY27 revenue aspirations of USD $1 bn
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ADITYA BIRLA W 10 GRASIM I 29 FINANCIAL PERFORMANCE Q3FY25 - BUILDING MATERIALS Revenue (₹ Cr.) EBITDA (₹ Cr.) During the quarter EBITDA was impacted by lower realisation in Cement Business and initial investments for building a consumer facing ‘Birla Opus’ brand in the Indian Decorative Paints market Revenue grew by 10% YoY to ₹18,784 Cr. led by growth in Cement and new growth businesses • Cement business revenue stood at ₹17,193 Cr., growth of 3% YoY 3,261 1,886 2,806 Q3FY24 Q2FY25 Q3FY25 9,014 7,600 9MFY24 9MFY25 17,011 16,683 18,784 Q3FY24 Q2FY25 Q3FY25 51,034 54,168 9MFY24 9MFY25
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ADITYA BIRLA e6, GRASIM FINANCIAL SERVICES
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ADITYA BIRLA 111111111W -41 GRASIM 31 FINANCIAL PERFORMANCE Q3FY25 - FINANCIAL SERVICES (ADITYA BIRLA CAPITAL) Consolidated Revenue stood at ₹9,396 Cr. up 7% YoY • All segments reported robust growth: NBFC up by 12% YoY , Housing Finance grew by 45% YoY and Health Insurance grew 38% YoY • ABCD@, Omnichannel D2C platform is gaining traction with 4.1 mn+ App customers**, added key features like travel insurance, UPI lite, physical gold gifting and App-exclusive health insurance product • Udyog Plus, B2B platform for MSMEs continues to scale with 2.2 mn+ registrations and total portfolio of ~₹3,300 Cr. Total Lending Book (₹ Cr.)*Revenue# (₹ Cr.) PAT^ for the quarter as consolidated stood at ₹675 Cr., recording de-growth of 4% YoY #Revenue as per Ind AS accounting; *Includes NBFC and Housing Finance; @ABCD: Aditya Birla Capital Digital; **as on 22nd January 2025; ^Aditya Birla Capital PAT adjusted in accordance with Ind-AS 103 for Grasim Consolidation Total Lending Porfolio* increased by 27% YoY to ₹1,46,151 Cr. • NBFC business loans to Retail, SME and HNI customers constitute 64% of the total portfolio • Disbursements in Housing Finance business grew by 136% YoY to ₹4,750 Cr. 1,15,139 1,37,946 1,46,151 Q3FY24 Q2FY25 Q3FY25 8,786 10,252 9,396 Q3FY24 Q2FY25 Q3FY25
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ADITYA BIRLA e6, GRASIM OTHER BUSINESSES (TEXTILES, INSULATORS & RENEWABLES)
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ADITYA BIRLA a o GRASUVI 33 FINANCIAL PERFORMANCE Q3FY25 - OTHER BUSINESSES Revenue (₹ Cr.) EBITDA (₹ Cr.) Revenue from other businesses was up 4% YoY , EBITDA up by 26% YoY led by capacity increase in renewable business Textiles business revenue de-grew by 3% YoY to ₹558 Cr. with EBITDA of ₹6 Cr. mainly due to exceptionally high input prices in linen segment Renewables business revenue was up 33% YoY to ₹121 Cr.; EBITDA stood at₹117 Cr. (including treasury income of ₹24 Cr.) • The cumulative installed capacity increased to 1.2 GW, of which 37% is with Group companies 782 778 815 Q3FY24 Q2FY25 Q3FY25 2,297 2,390 9MFY24 9MFY25 99 45 125 Q3FY24 Q2FY25 Q3FY25 340 279 9MFY24 9MFY25
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ADITYA BIRLA e6, GRASIM APPENDIX
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ADITYA BIRLA GRASUVI 35 CONSOLIDATED INCOME STATEMENT *Net of Finance Cost relating to NBFC/HFC’s businesses; ^PAT adjusted for exceptional items for like-to-like comparison. Revenue from Operations 34,793 31,965 9 33,563 4 Other Income 369 256 44 395 -7 EBITDA* 4,668 5,150 -9 4,042 15 EBITDA Margin (%) 13% 16% 12% Finance Cost 699 433 61 581 20 Depreciation 1,532 1,244 23 1,496 2 Share in Profit of JVs & Associates 10 (1) - 86 - PBT 2,448 3,472 -29 2,051 19 Add/(Less): Tax Expense (604) (868) -30 (867) -30 Add/(Less): Exceptional items - - (83) - PAT attributable to Minority Shareholders 945 1,089 -13 710 33 Reported PAT (Owners' share) 899 1,514 -41 390 131 Adjusted PAT^ 899 1,514 -41 473 90 Particulars (₹ Cr.) % ChangeQ3FY25 Q3FY24 % ChangeQ2FY25
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ADITYA BIRLA I GRASIM 36 STANDALONE INCOME STATEMENT *Includes Dividend Income; ^PAT adjusted for exceptional items for like-to-like comparison. Revenue from Operations 8,120 6,400 27 7,623 7 Other Income 102 120 - 1,294 - EBITDA 372 643 -42 1,619 - EBITDA Margin (%) 5% 10% 18% Finance Cost 181 107 69 161 12 Depreciation 421 296 42 406 4 PBT (230) 239 - 1,052 - Add/(Less): Tax Expense 62 (3) - (281) - Add/(Less): Exceptional items - - (50) Reported PAT (169) 236 - 721 - Adjusted PAT^ (169) 236 - 771 - Particulars (₹ Cr.) % ChangeQ3FY25 Q3FY24 Q2FY25 % Change *
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ADITYA BIRLA ■ GRASIM 37 CAPEX PLAN - STANDALONE ^Cumulative Capex for Paints business stood at ₹9,015 Cr. till 31st December 2024. Cellulosic Fibres Business 826 319 Capacity Expansion (including debottlenecking) 218 50 Modernisation and Maintenance Capex 608 269 Chemicals Business (A+B+C) 800 462 (A) Capacity Expansion - Chlor-Alkali & Chlorine Derivatives 267 169 Caustic Soda: (1,359 KTPA --> 1,530 KTPA) 36 17 Chlorine Derivatives: (1,029 KTPA --> 1,168 KTPA) 231 152 (B) Capacity Expansion - Speciality Chemicals Epoxy Polymers & Curing Agents: (123 KTPA --> 246 KTPA) (C) Modernisation and Maintenance Capex 497 273 New High Growth Businesses 2,997 1,966 Birla Opus (Decorative Paints)^ 2,976 1,952 Birla Pivot (B2B E-commerce) 21 14 Other Businesses Textiles, Insulators & Others Total 4,691 2,785 Particulars (₹ Cr.) 68 38 Planned Capex FY25 Capex Spent 9MFY25 36 20
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ADITYA BIRLA GRASIM in 38 BALANCE SHEET 31st Dec'24 31st Mar'24 EQUITY & LIABILITIES 31st Dec'24 31st Mar'24 (Unaudited) (Audited) (Unaudited) (Audited) 52,434 52,115 Net Worth 91,363 88,652 - - Non Controlling Interest 58,748 50,286 - - Borrowings related to Financial Services 1,26,150 1,08,322 12,280 9,453 Other Borrowings 46,620 26,780 477 276 Lease Liability 2,386 2,053 2,344 2,297 Deferred Tax Liability (Net) 11,060 9,417 - - Policy Holders Liabilities 95,084 85,388 - - Liability Related to Assets held for Sale 8 - 10,439 9,997 Other Liabilities & Provisions 41,745 41,641 77,974 74,138 SOURCES OF FUNDS 4,73,164 4,12,539 31st Dec'24 31st Mar'24 ASSETS 31st Dec'24 31st Mar'24 20,783 16,193 Net Fixed Assets 1,01,635 77,821 4,542 7,579 Capital WIP & Advances 21,573 21,675 1,097 910 Right of Use - Lease (including Leasehold Land) 2,846 2,519 3 3 Goodwill 20,670 20,154 Investments: 2,636 2,636 - UltraTech Cement (Subsidiary) - - 18,847 18,847 - AB Capital (Subsidiary) - - 920 898 - Solar Subsidiaries - - - - - ABSLAMC, ABHI and ABW 8,663 8,423 638 672 - Other equity accounted investees 1,105 2,060 4,003 3,472 - Liquid Investments 14,299 11,344 2,634 4,396 - Vodafone Idea 2,634 4,396 9,952 8,795 - Other Investments 19,133 18,199 - - - Investment of Insurance Business 59,391 50,810 - - Assets held to cover Linked Liabilities 38,452 36,005 - - Loans and Advances of Financing Activities 1,42,676 1,23,135 - - Assets held for Sale 243 23 11,917 9,738 Other Assets, Loans & Advances 39,845 35,976 77,974 74,138 APPLICATION OF FUNDS 4,73,164 4,12,539 8,277 5,981 Net Debt / (Surplus) 32,321 15,436 Standalone (₹ Cr.) Consolidated (₹ Cr.)
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ADITYA BIRLA r GRASIM I 39 GRASIM GROUP STRUCTURE Above is not intended to show the complete organizational structure and entities therein. It is intended to describe the key businesses of Grasim. *Equity Ownership; **Subsidiary companies; ^^consolidated on equity basis as Joint Venture. Overseas Pulp & CSF JVs AV Terrace Bay (Canada) (40.0%)* Domsjo (Sweden) (33.3%)* AV Group NB Inc. (Canada) (45.0%)* CSF JV (China) Birla Jingwei (26.6%)* Chemicals Aditya Birla Capital (52.55%)** Textiles UltraTech Cement (57.27%)** Bhubaneshwari Coal Mining Ltd. (26%)* Indian JVs Birla Advances Knits Pvt Limited (50%)* New Businesses Nagda Vilayat Renukoot Balabhadrapuram Karwar Veraval Ganjam Kharach Harihar Vilayat Veraval Harihar Kalyan Kolhapur Rishra Malanpur Halol Rishra InsulatorsNagda CSF CFY Pulp Vilayat Rehla Speciality Chemicals Ludhiana Chamarajanagar Panipat Kharagpur Mahad Cheyyar Paints B2B E-Commerce Grasim Industries Limited Cellulosic Fibres Subsidiaries Grey Cement o India Operations o Overseas Operations (UAE, Bahrain & Sri Lanka) Aditya Birla Renewables (100.00%)** White Cement & Putty NBFC, Housing Finance, ARC Life & Health Insurance AMC, Broking & Wellness RMC plants Aditya Birla Power Composites (51%)^^
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III I I GRASUIA 40 FORWARD LOOKING AND CAUTIONARY STATEMENT This presentation is issued by Grasim Industries Limited (the “Company”) for general information purposes only, without regard to any specific objectives, suitability, financial situations and needs of any particular person. This presentation does not constitute any recommendation or form part of any offer or invitation, directly or indirectly, in any manner or inducement to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of the Company in any jurisdiction nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment therefor. This presentation does not solicit any action based on the material contained herein and no offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. Nothing in this presentation is intended by the Company to be construed as legal, accounting or tax advice and does not take into account an investor’s individual investment objectives, including the merits and risks involved in an investment in the Company or its securities, or an investor’s financial situation, tax position or particular needs. No person is authorized to give any information or to make any representation not contained in or inconsistent with this presentation and if given or made, such information or representation must not be relied upon as having been authorized by any person. This Presentation is not a prospectus, disclosure document, a statement in lieu of a prospectus, an offering circular, an advertisement or an offer document under the Companies Act, 2013, and the rules made thereunder, as amended, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, or any other applicable law in India. This presentation has not been approved and will not or may not be reviewed or approved by any statutory or regulatory authority in India or by any stock exchange in India. This presentation may include statements which may constitute forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements about the strategy for growth, business development, market position, expenditures, and financial results, are forward looking statements. Forward looking statements are based on certain assumptions and expectations of future events. All forward-looking statements are based on judgments derived from the information available to the Company at this time. Forward-looking statements can be identified by terminology such as such as “potential,” "opportunity," “expected,” “will,” “planned,” "estimated", “targeted”, "continue", "on-going" or similar terms. This presentation should not be relied upon as a recommendation or forecast by the Company. Please note that the past performance of the Company is not, and should not be considered as, indicative of future results. The Company cannot guarantee that these assumptions and expectations are accurate or will be realised. The actual results, performance or achievements, could thus differ materially from those projected in any such forward- looking statements. The Company does not undertake to revise any forward-looking statement that may be made from time to time by or on behalf of the Company. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements. This presentation may not be copied or disseminated, in whole or in part, and in any manner or for any purpose. Failure to comply with this restriction may constitute a violation of applicable laws. The information contained in these materials are only current as of the dates specified herein and has not been independently verified. None of the Company, its directors or affiliates nor any of its or their respective employees, advisers or representatives or any other person accepts any responsibility or liability whatsoever, whether arising in tort, contract or otherwise, for any errors, omissions or inaccuracies in such information or opinions or for any loss, cost or damage suffered or incurred howsoever arising, directly or indirectly, from any use of this document or its contents or otherwise in connection with this document, and makes no representation or warranty, express or implied, for the contents of this document including its accuracy, fairness, completeness or verification or for any other statement made or purported to be made by any of them, or on behalf of them, and nothing in this presentation shall be relied upon as a promise or representation in this respect, whether as to the past or the future. The Company undertakes no obligation to update or revise any information or the opinions expressed in this presentation as a result of new information, future events or otherwise. Any opinions or information expressed in this presentation are subject to change without notice.
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ADITYA BIRLA e6, GRASIM THANK YOU Investor Relations Team grasim.ir@adityabirla.com +91 22 2499 5657