NSE/GRASIM

GRASIMGrasim Industries Ltd

Cement · NSE

₹2,720.5+0.12%

52-wk low52-WEEK RANGE52-wk high

₹2,524.1+7.8% from low ·-8.1% from high₹2,958.7

Price chart · 1M–10Y · daily-close

NSE bhavcopy + 10Y historical

GRASIM+6.36% · 1Y

Range high ₹2,979Range low ₹2,502.5Latest ₹2,720.5252 bars · daily-close · NSE bhavcopy + 10Y history

CementBuilding MaterialsAditya Birla GroupLargecapLow Risk

Stock scorecard

Auto-computed from latest ratios + sector context · not a buy/sell signal

Composite13/100

Performance

Low

Hasn't fared well — amongst the weak performers.

· 52w return -1.3% — underperformer
· Below 200-DMA (-0.7%) — downtrend

Valuation

High

Looks expensive vs the sector.

· P/E 41.4 — 15% above sector median 35.9

Growth

Medium

Steady but not standout growth.

· Revenue YoY +27.4% — strong top-line
· Profit YoY +14.1%

Profitability

Low

Profitability is a concern.

· ROE 4.5% — weak returns on equity
· Net margin 0.7% — thin margins

DVM composite · Durability · Valuation · Momentum

Trendlyne-style 3-axis composite · all drivers shown below · not a buy/sell signal

CompositeC(46/100)

Durability

43/100

Mixed quality signals; requires deeper due diligence.

Show 4 drivers

Piotroski F-score6/9 (67pt)
Altman Z" score1.03 (28pt)
Debt/Equity1.27 (43pt)
ROE4.5% (18pt)

Valuation

48/100

Trading at a premium — growth must keep delivering to justify.

Show 4 drivers

P/E vs sector (41.4 / 35.9)115% (51pt)
P/B1.88 (70pt)
Dividend yield0.37% (9pt)
EV/EBITDA12.8 (40pt)

Momentum

46/100

Momentum is muted; trend is unclear or rolling over.

Show 5 drivers

52w change-1.3% (43pt)
DMA-trend alignmentdown (25pt)
RSI (14)52.7 (60pt)
Price vs 200-DMA-2.3% (50pt)
MACD regimebullish (75pt)

Valuation positioning

Current ratio vs sector peer distribution

P/E (TTM)41.41

OVERVALUED

CheapestP/E 41.4 at 100th %ile — pricier than 100% of peers.Most expensive

P/B1.88

FAIR

CheapestP/B 1.88 at 50th %ile of sector.Most expensive

EV/EBITDA12.76

FAIR

Monthly seasonality

Avg monthly return over 11 years · historical — not a forecast

Best: Apr +4.54% · Worst: Dec -0.56%

Jan

+0.4%

55% win

Feb

-0.3%

33% win

Mar

+1.9%

67% win

Apr

+4.5%

83% win

May

-0.3%

36% win

Jun

+3.3%

Monthly return distribution

Distribution of 135 monthly returns

Mean

+1.41%

Median

+2.15%

Std dev

7.48%

Best

+20.8%

Worst

-30.7%

% positive

58%

SWOT analysis

Auto-derived from ratios + sector context + forensics · research only, not a recommendation

STRENGTHS · 0

No standout strengths in the current snapshot

WEAKNESSES · 2

Low return on equity (4.5%)
Below 10% ROE suggests inefficient use of shareholder capital
Distress-zone Altman Z″ (1.03)
Historically associated with elevated bankruptcy probability

OPPORTUNITIES · 1

22% upside to consensus target (₹3366)
11 analysts see fair value materially higher

THREATS · 1

Net debt is 96% of market cap
Financing costs become material in rising-rate regimes

RETURNS · DAILY-CLOSE BASED

3Y+ shown as CAGR

+0.1%

-0.8%

+5.9%

-2.6%

-2.5%

+5.0%

+18.8%

+14.5%

10Y

+17.4%

Fundamentals

VALUATION

Market cap

₹1,87,182 Cr

P/E (TTM)

41.4

P/E (fwd)

24.5

next 12m

P/B

1.88

EV/EBITDA

12.8

Book value

₹1468.67

per share

PROFITABILITY · QUALITY

ROE

4.5%

ROCE

—

Net margin

0.7%

Op margin

15.7%

Gross margin

56.3%

D/E

1.27

GROWTH · MARKET

Rev YoY

+27.4%

Profit YoY

+14.1%

Div yield

0.37%

Payout

15.0%

52w change

-1.3%

Beta

0.24

defensive

Pros and cons

Auto-derived from ratios · not a buy/sell recommendation

PROS · 4

+Forward P/E materially below trailing (24.5x vs 41.4x)Street expects earnings growth that compresses the multiple — positive surprise cushion
+Revenue growing at +27.4% YoYGrowth-category territory — implies market-share gains or market expansion
+3-year revenue CAGR of 15.9%Sustained multi-year growth — not a one-quarter flash
++22% upside to analyst consensus target11 analysts average target of ₹3366 vs current ₹2760

CONS · 1

−Low ROE of 4.5%Below the 10%+ threshold most quality-focused investors require

Sector-relative context

Cement · 2 peers

P/E (TTM)

This stock

41.41

Sector median

35.91

Rank 2/2 (50th %ile)

ROE

This stock

4.5%

Sector median

5.6%

Rank 1/2 (100th %ile)

P/B

This stock

1.88

Sector median

1.94

Rank 1/2 (100th %ile)

Quality score · Piotroski F-score

6 / 9

Decent quality — clears Piotroski bar

✓Profitable (positive net income)· Most basic check — company makes money
✓Positive return on assets· Assets generate returns
✓Positive operating cash flow· Profits are backed by real cash, not accruals
✗Operating CF exceeds net profit· Healthy cash conversion — no aggressive revenue recognition
✓Long-term debt decreased YoY· Deleveraging — lower refinancing risk
✓ROA improved YoY· Getting more productive with the asset base
✓Operating margin expanded YoY· Pricing power or cost discipline
✗

Forensic score · Altman Z″ (emerging markets)

Bankruptcy-risk predictor · 1995 Altman emerging-market revision

DISTRESS1.03

Z″ = 1.03 — DISTRESS zone. Historical Altman-Z models have associated this range with elevated 2-year bankruptcy probability. Treat as a flag for deeper diligence, not a verdict.

Component	Ratio	Weight	Contribution
Working Capital / Total Assets (A)	0.088	×6.56	0.576
Retained Earnings / Total Assets (B)	0.035	×3.26	0.114
EBIT / Total Assets (C)	0.045	×6.72	0.300
Book Equity / Total Liabilities (D)	0.037	×1.05	0.039

Zones: Z″ ≥ 2.60 safe · 1.10–2.60 grey · < 1.10 distress. All four inputs derived from latest annual filing.

Analyst consensus

11 analysts · BUY

Target mean

₹3366.45

Target high

₹3865.00

Target low

₹3000.00

Upside vs today

+22.0%

Street consensus target is +22.0% vs current price. Consensus is a lagging sentiment read, not a forecast.

Company + balance sheet snapshot

Industry

Building Materials

Employees

27,327

Shares out

67.8

Revenue (TTM)

₹1,68,597 Cr

EBITDA

₹33,466 Cr

Total debt

₹2,05,403 Cr

Cash

₹25,407 Cr

Net debt

₹1,79,996 Cr

Quarterly results

Last 6 quarters · ₹ Cr (Screener.in-grade depth)

Metric	2024-Q3	2024-Q4	2025-Q1	2025-Q2	2025-Q3	2025-Q4
Revenue	34,223	35,378	44,962	40,118	—	44,312
Operating profit	2,084	2,699	4,067	4,277	—	3,974
OPM %	6.1%	7.6%	9.0%	10.7%	—	9.0%

Annual P&L

Last 4 years · ₹ Cr · all line items

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Revenue	94,589	1,16,467	1,29,579	1,47,178
Operating profit	12,925	12,260	14,518	12,077
OPM %	13.7%	10.5%	11.2%	8.2%
Interest	1,233	1,252	1,644	2,772

Peer	Last close	1Y change	Mcap ₹Cr	P/E	P/B	ROE	D/E	Rev YoY
GRASIMTHIS Grasim Industries Limited	₹2,720.5	-1.3%	1,87,182	41.4	1.88	4.5%	1.27	+27.4%
AMBUJACEM Ambuja Cements Limited	₹459	-20.7%	1,13,034	30.4	2.00	6.6%	0.02	+10.2%

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Research tool · not investment advice.

Axel Markets is an information + analytics product. We are not a SEBI-registered Research Analyst (RA) or Investment Adviser (IA). Nothing on this page is a buy, sell, or hold recommendation. Past performance is not indicative of future returns. Verify all data against the authoritative source (NSE, BSE, AMFI, SEBI, company RHP / factsheet) before acting. Daily OHLCV sourced primarily from our NSE bhavcopy ingest (public sec_bhavdata_full CSV), with Stooq as a fallback for historical gaps. Split + bonus adjusted. Excludes dividends. Not a recommendation. Past performance does not predict future returns. For authoritative live quotes see NSE / BSE directly.

Quarter	EPS estimate	EPS actual	Surprise %
-1q	22.83	17.13	-25.0%
-2q	19.02	11.84	-37.8%
-3q	20.44	21.29	+4.2%
-4q	31.98	22.93	-28.3%

Date	Amount
2025-08-12	₹10.00
2024-08-06	₹10.00
2023-08-11	₹9.96
2022-08-11	₹9.96
2021-08-12	₹8.96
2020-08-26	₹3.98
2019-08-08	₹6.97
2018-08-31	₹6.18
2017-09-08	₹5.48
2016-09-07	₹4.48

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Equity capital	132	132	133	136
Reserves	10,160	12,980	12,015	10,738
Borrowings	74,550	1,03,027	1,37,144	1,86,315
Other liabilities	308	346	26	96
Total liabilities	2,89,395	3,37,205	4,12,539	5,00,536
Fixed assets	66,600	77,325	93,570	1,24,739
CWIP	6,572	11,173	21,547	17,670
Investments	71,954	76,929	97,884	1,11,564
Other assets	-10	-18	-23	3,673
Total assets	2,89,395	3,37,205	4,12,539	5,00,536

Metric	2022-FY	2023-FY	2024-FY	2025-FY
CF Operating	7,038	-12,685	-10,719	-17,170
CF Investing	-3,543	-13,687	-23,113	-23,982
CF Financing	-6,733	26,469	33,908	42,978
Net cash flow	-748	72	75	2,495
Free cash flow	-1,550	-24,721	-30,204	-34,351

Metric	2025-FY	2024-FY	2023-FY	2022-FY
OPM %	8.2%	11.2%	10.5%	13.7%
Net margin %	2.5%	4.3%	5.9%	8.0%
ROE %	32.2%	44.5%	58.3%	73.4%
ROCE %	7.8%	11.6%	15.9%	16.3%
Debt / Equity	17.13	11.29	7.86	7.24
Dividend payout %	18%	12%	10%	8%
Interest coverage	4.9×	9.3×	12.8×	11.2×
Revenue growth YoY	+13.6%	+11.3%	+23.1%	—
Profit growth YoY	-34.1%	-17.6%	-9.6%	—

GRASIMGrasim Industries Ltd

Price chart · 1M–10Y · daily-close

Stock scorecard

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

SWOT analysis

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Peer comparison · Cement

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Technical snapshot

Earnings history + surprises

Dividends + splits history

Recent news

Stock scorecard

SWOT analysis

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Forensic score · Altman Z″ (emerging markets)

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Balance sheet

Cash flow statement

Peer comparison · Cement

Ratios