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Last Updated: April 2, 2026, 2:59 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 500300 | NSE: GRASIM

Grasim Industries Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹1,778.76Overvalued by 31.40%vs CMP ₹2,593.00

P/E (38.3) × ROE (4.0%) × BV (₹1,464.00) × DY (0.39%)

₹1,678.77Overvalued by 35.26%vs CMP ₹2,593.00
MoS: -54.5% (Negative)Confidence: 56/100 (Moderate)Models: 1 Fair, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹1,604.1430%Over (-38.1%)
Graham NumberEarnings₹1,476.5822%Over (-43.1%)
Net Asset ValueAssets₹1,463.9610%Over (-43.5%)
EV/EBITDAEnterprise₹2,083.2212%Over (-19.7%)
Earnings YieldEarnings₹661.9010%Over (-74.5%)
ROCE CapitalReturns₹2,715.6510%Fair (+4.7%)
Revenue MultipleRevenue₹2,181.997%Over (-15.9%)
Consensus (7 models)₹1,678.77100%Overvalued
Key Drivers: ROE 4.0% is below cost of equity. | Wide model spread (₹662–₹2,716) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -9.8%

*Investments are subject to market risks

Investment Snapshot

58
Grasim Industries Ltd scores 58/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health49/100 · Moderate
ROCE 7.5% WeakROE 4.0% WeakD/E 0.95 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 1.04% (6mo) AccumulatingDII holding down 1.25% MF sellingPromoter holding at 43.2% Stable
Earnings Quality60/100 · Moderate
OPM stable around 20% SteadyWorking capital: -105 days (improving) Efficient
Quarterly Momentum68/100 · Strong
Revenue (4Q): +15% YoY GrowingProfit (4Q): +7% YoY Positive
Industry Rank55/100 · Moderate
P/E 38.3 vs industry 274.7 Cheaper than peersROCE 7.5% vs industry 8.9% AverageROE 4.0% vs industry 85.5% Below peers3Y sales CAGR: 16% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:59 am

Market Cap 1,76,446 Cr.
Current Price 2,593
Intrinsic Value₹1,678.77
High / Low 2,980/2,465
Stock P/E38.3
Book Value 1,464
Dividend Yield0.39 %
ROCE7.50 %
ROE3.95 %
Face Value 2.00
PEG Ratio-3.90

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Grasim Industries Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Grasim Industries Ltd 1,76,446 Cr. 2,593 2,980/2,46538.3 1,4640.39 %7.50 %3.95 % 2.00
Ambuja Cements Ltd 1,03,903 Cr. 420 625/39427.0 2280.48 %10.5 %8.73 % 2.00
Shree Cement Ltd 83,942 Cr. 23,265 32,508/22,55048.5 6,0780.47 %7.17 %5.69 % 10.0
J K Cements Ltd 39,716 Cr. 5,140 7,566/4,51037.8 8390.29 %14.0 %13.9 % 10.0
UltraTech Cement Ltd 3,15,719 Cr. 10,714 13,110/10,32540.6 2,4440.72 %10.9 %9.29 % 10.0
Industry Average34,326.20 Cr1,677.64274.74574.270.69%8.92%85.54%7.13

All Competitor Stocks of Grasim Industries Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales 27,48628,63833,46231,06530,22131,96537,72734,61034,22335,37844,26740,11839,900
Expenses 22,89423,77527,33224,70824,17325,07329,83527,92728,19728,57535,51731,29632,228
Operating Profit 4,5914,8636,1316,3576,0486,8937,8926,6826,0266,8048,7508,8227,671
OPM % 17%17%18%20%20%22%21%19%18%19%20%22%19%
Other Income 2542,972308296285256-48247403382485372406
Interest 1,3731,6081,8162,0322,2262,4332,5862,7953,0273,2703,4073,5513,669
Depreciation 1,1161,1391,2071,1831,2451,2441,3291,4431,5721,6081,8311,8101,899
Profit before tax 2,3565,0873,4153,4382,8623,4723,9282,6911,8302,3083,9963,8342,510
Tax % 36%12%31%25%29%25%31%23%46%25%26%28%40%
Net Profit 1,5094,4552,3562,5762,0242,6032,7222,0669831,7342,9732,7671,498
EPS in Rs 14.8336.9720.1223.1717.1022.2520.8016.334.7812.4521.9820.858.13

Last Updated: January 1, 2026, 2:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 6:46 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 28,33131,73434,48736,06855,89477,20068,25276,40495,701117,627130,978148,478168,597
Expenses 23,41626,59028,57628,68244,28160,56057,88057,76975,27096,038103,783120,216134,483
Operating Profit 4,9155,1445,9117,38711,61216,64010,37318,63520,43121,58927,19528,26234,114
OPM % 17%16%17%20%21%22%15%24%21%18%21%19%20%
Other Income 5765301,3201,076410-1,8467,0761,1301,6483,7337831,5171,328
Interest 4476677187023,6636,0606,8905,7234,7766,0449,27712,50014,536
Depreciation 1,4571,5631,8341,8082,7243,5714,0044,0334,1614,5525,0016,4547,516
Profit before tax 3,5863,4434,6795,9525,6355,1636,55410,00913,14314,72713,70010,82513,390
Tax % 20%30%26%29%35%47%-1%30%15%25%28%28%
Net Profit 2,9542,5823,4554,2463,6882,7456,6396,98711,20611,0789,9267,7569,471
EPS in Rs 43.6636.7551.1565.6439.4324.9164.9063.30110.96100.3385.4254.4666.19
Dividend Payout % 9%9%9%8%15%27%6%14%9%10%12%18%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-12.59%33.81%22.89%-13.14%-25.57%141.86%5.24%60.38%-1.14%-10.40%-21.86%
Change in YoY Net Profit Growth (%)0.00%46.40%-10.92%-36.04%-12.43%167.43%-136.62%55.14%-61.53%-9.26%-11.46%

Grasim Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:17%
5 Years:17%
3 Years:16%
TTM:14%
Compounded Profit Growth
10 Years:9%
5 Years:-6%
3 Years:-21%
TTM:-22%
Stock Price CAGR
10 Years:18%
5 Years:32%
3 Years:18%
1 Year:2%
Return on Equity
10 Years:7%
5 Years:7%
3 Years:6%
Last Year:4%

Last Updated: September 5, 2025, 5:15 am

Balance Sheet

Last Updated: December 4, 2025, 1:18 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 92929393131132132132132132133136136
Reserves 21,52323,04827,33631,29457,23057,88856,50165,36275,56778,61088,52097,37399,482
Borrowings 9,68111,93012,5059,21367,07084,48784,77779,07874,744103,039137,155186,326205,403
Other Liabilities 16,44118,96319,64222,14783,46798,620102,772122,777138,706155,042186,309216,206225,081
Total Liabilities 47,73654,03359,57662,747207,899241,127244,181267,349289,149336,823412,116500,040530,102
Fixed Assets 25,20931,82834,27134,78669,25787,12987,73685,02388,99694,896100,494141,148145,019
CWIP 4,0452,7551,7881,2972,2902,7663,9045,7696,6157,77818,35814,76514,333
Investments 7,6117,25510,60114,20065,99562,74766,33788,01796,766105,355129,306140,496107,901
Other Assets 10,87212,19412,91612,46470,35688,48486,20488,54096,771128,793163,959203,632262,848
Total Assets 47,73654,03359,57662,747207,899241,127244,181267,349289,149336,823412,116500,040530,102

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 3,5494,5945,8687,288-4,140-1,65916,62015,0757,038-12,685-10,719-17,170
Cash from Investing Activity + -2,336-2,359-4,515-3,5091,546-2,212-11,364-7,146-1,053-13,712-23,114-23,313
Cash from Financing Activity + -1,046-2,278-1,365-3,7993,4494,158-3,418-8,003-6,73326,46933,90842,978
Net Cash Flow 168-42-11-208562871,838-75-74872752,495
Free Cash Flow 2001,3153,1205,495-7,186-5,66711,63811,525-1,467-24,610-30,042-33,688
CFO/OP 90%95%119%112%-21%1%177%91%49%-49%-30%-52%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-5.00-6.00-7.00-2.00-56.00-68.00-74.00-61.00-54.00-82.00-110.00-158.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 323032303432312121181923
Inventory Days 209207168163170154179179200180194179
Days Payable 16010297117146133172229239216221177
Cash Conversion Cycle 8213610376585338-29-18-17-725
Working Capital Days 1-44-56-19-95-47-84-103-88-75-91-105
ROCE %10%9%11%13%10%8%8%9%9%10%9%8%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 42.75%42.75%42.75%42.75%43.05%43.05%43.11%43.11%43.11%43.11%43.11%43.21%
FIIs 12.45%12.29%12.17%12.52%12.70%13.69%13.78%13.50%13.45%13.79%14.37%14.49%
DIIs 16.82%16.82%16.90%16.70%16.69%16.66%17.75%17.90%18.24%17.91%17.27%16.99%
Public 27.69%27.82%27.80%27.69%27.24%26.29%25.04%25.17%24.87%24.87%24.92%24.93%
Others 0.30%0.30%0.35%0.33%0.31%0.30%0.31%0.31%0.30%0.30%0.31%0.36%
No. of Shareholders 2,47,2652,43,2652,39,7802,34,4462,52,3172,53,6712,65,2022,58,9552,55,1692,47,6282,44,7182,38,208

Shareholding Pattern Chart

No. of Shareholders

Grasim Industries Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Franklin India Flexi Cap Fund 1,649,761 2.38 465.071,592,1082025-12-07 06:48:423.62%
Quant ELSS Tax Saver Fund 1,498,059 3.6 422.3683,0002025-12-07 06:48:42119.34%
SBI Contra Fund 1,115,585 0.65 314.481,000,0002025-12-07 06:48:4211.56%
Aditya Birla Sun Life Flexi Cap Fund 1,079,587 1.23 304.34N/AN/AN/A
ICICI Prudential Multi Asset Fund 1,042,750 0.36 293.95993,5382025-12-07 06:48:424.95%
Nippon India Focused Fund 998,096 3.32 281.36N/AN/AN/A
Franklin India ELSS Tax Saver Fund 685,013 3 193.11658,1982025-12-07 00:16:104.07%
ICICI Prudential Multicap Fund 640,713 1.14 180.62N/AN/AN/A
Nippon India Large Cap Fund 602,666 0.34 169.89N/AN/AN/A
ICICI Prudential Balanced Advantage Fund 590,177 0.24 166.37606,2322026-01-26 05:12:36-2.65%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 55.5785.29103.98114.9865.57
Diluted EPS (Rs.) 55.5085.29103.88114.9865.50
Cash EPS (Rs.) 204.44223.47234.22227.66164.59
Book Value[Excl.RevalReserv]/Share (Rs.) 1432.801335.131866.801764.721558.52
Book Value[Incl.RevalReserv]/Share (Rs.) 1432.801335.131866.801764.721558.52
Revenue From Operations / Share (Rs.) 2181.731972.571786.561453.761160.97
PBDIT / Share (Rs.) 436.72428.60382.76322.84299.08
PBIT / Share (Rs.) 341.89353.28313.63259.63237.78
PBT / Share (Rs.) 154.70204.99220.50186.03145.62
Net Profit / Share (Rs.) 109.61148.15165.09164.45103.30
NP After MI And SOA / Share (Rs.) 54.4584.71103.69114.6965.42
PBDIT Margin (%) 20.0121.7221.4222.2025.76
PBIT Margin (%) 15.6717.9017.5517.8520.48
PBT Margin (%) 7.0910.3912.3412.7912.54
Net Profit Margin (%) 5.027.519.2411.318.89
NP After MI And SOA Margin (%) 2.494.295.807.885.63
Return on Networth / Equity (%) 3.806.348.679.976.57
Return on Capital Employeed (%) 5.867.327.717.387.27
Return On Assets (%) 0.741.362.022.601.61
Long Term Debt / Equity (X) 1.270.970.840.610.80
Total Debt / Equity (X) 1.881.521.290.960.95
Asset Turnover Ratio (%) 0.320.340.150.120.08
Current Ratio (X) 0.890.931.361.431.60
Quick Ratio (X) 0.740.781.201.271.48
Inventory Turnover Ratio (X) 10.1810.602.492.611.62
Dividend Payout Ratio (NP) (%) 18.0211.689.637.846.10
Dividend Payout Ratio (CP) (%) 6.576.185.775.053.14
Earning Retention Ratio (%) 81.9888.3290.3792.1693.90
Cash Earning Retention Ratio (%) 93.4393.8294.2394.9596.86
Interest Coverage Ratio (X) 2.383.074.174.453.44
Interest Coverage Ratio (Post Tax) (X) 1.622.122.813.172.21
Enterprise Value (Cr.) 413908.61332695.83249289.17219817.67190182.63
EV / Net Operating Revenue (X) 2.792.542.122.302.49
EV / EBITDA (X) 13.9311.699.8910.349.66
MarketCap / Net Operating Revenue (X) 1.201.160.911.151.25
Retention Ratios (%) 81.9788.3190.3692.1593.89
Price / BV (X) 1.821.711.371.451.46
Price / Net Operating Revenue (X) 1.201.160.911.151.25
EarningsYield 0.020.030.060.060.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Grasim Industries Ltd. is a Public Limited Listed company incorporated on 25/08/1947 and has its registered office in the State of Madhya Pradesh, India. Company's Corporate Identification Number(CIN) is L17124MP1947PLC000410 and registration number is 000410. Currently Company is involved in the business activities of Manufacture of basic chemicals. Company's Total Operating Revenue is Rs. 31563.23 Cr. and Equity Capital is Rs. 136.11 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
CementP.O. Birlagram, Dist. Ujjain, Nagda Madhya Pradesh 456331Contact not found
Management
NamePosition Held
Mr. Kumar Mangalam BirlaChairman (Non - Executive) & Non Independent Direc
Mrs. Rajashree BirlaNon Exe.Non Ind.Director
Ms. Ananyashree BirlaNon Exe.Non Ind.Director
Mr. Sushil AgarwalNon Exe.Non Ind.Director
Ms. Anita RamachandranIndependent Director
Mr. N Mohan RajIndependent Director
Mrs. V ChandrasekaranIndependent Director
Mr. Adesh Kumar GuptaIndependent Director
Mr. Yazdi Piroj DandiwalaIndependent Director
Mr. Himanshu KapaniaExecutive & Managing Director
Mr. Ashvin Dhirajlal ParekhIndependent Director
Mr. Haigreve KhaitanIndependent Director
Mr. Mukkavilli JagannathNon Exe.Non Ind.Director

FAQ

What is the intrinsic value of Grasim Industries Ltd and is it undervalued?

As of 14 April 2026, Grasim Industries Ltd's intrinsic value is ₹1678.77, which is 35.26% lower than the current market price of ₹2,593.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (3.95 %), book value (₹1,464), dividend yield (0.39 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Grasim Industries Ltd?

Grasim Industries Ltd is trading at ₹2,593.00 as of 14 April 2026, with a FY2026-2027 high of ₹2,980 and low of ₹2,465. The stock is currently near its 52-week low. Market cap stands at ₹1,76,446 Cr..

How does Grasim Industries Ltd's P/E ratio compare to its industry?

Grasim Industries Ltd has a P/E ratio of 38.3, which is below the industry average of 274.74. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Grasim Industries Ltd financially healthy?

Key indicators for Grasim Industries Ltd: ROCE of 7.50 % is on the lower side compared to the industry average of 8.92%; ROE of 3.95 % is below ideal levels (industry average: 85.54%). Dividend yield is 0.39 %.

Is Grasim Industries Ltd profitable and how is the profit trend?

Grasim Industries Ltd reported a net profit of ₹7,756 Cr in Mar 2025 on revenue of ₹148,478 Cr. Compared to ₹11,206 Cr in Mar 2022, the net profit shows a declining trend.

Does Grasim Industries Ltd pay dividends?

Grasim Industries Ltd has a dividend yield of 0.39 % at the current price of ₹2,593.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Grasim Industries Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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