Aditya Birla Group's flagship company Grasim Industries, today at its 77th Annual General Meeting, reported its highest-ever annual revenue of Rs. 1,30,978 crore for FY 2023-24, exceeding US$ 15 billion. Grasim has also achieved its highest-ever consolidated EBITDA of Rs. 20,837 crore. “Your company achieved record sales volumes in Cement, Cellulosic Fibres, Chlor Alkali, and the Speciality Chemicals businesses,” Group Chairman Kumar Mangalam Birla said in a statement.

In the chemical business, caustic sales volumes reached a record high of 1,205 KT, while speciality chemicals sales volumes also hit a peak at 95 KT, contributing 26% to the total chemicals segment revenue. The segment's total revenue stood at Rs. 8,213 crore, with EBITDA at Rs. 1,054 crore. Chlorine integration improved to 62%, up from 60% in the previous year. “Recently, we doubled our capacity in the Speciality Chemicals Epoxy business and are actively exploring multiple downstream chlorine chemistries to further enhance chlorine integration. The Lubrizol CPVC resin plant project is progressing as planned, which will further support our chlorine integration strategy,” Birla said.

In FY 2022-23, Grasim’s chemical business had reported its highest ever Revenue and EBITDA at Rs. 10,422 crore and Rs. 2,271 crore respectively.

In the paints business, Grasim is on track to fully operational all six of its plants by FY25. “These manufacturing units located across the country are fully integrated, connected, and automated, enabling large-scale production of over 1,200 SKUs with consistent superior quality, powered by renewable energy and adhering to a zero liquid discharge policy. This year, Rs. 4,471 crore was invested in capital expenditure, bringing the total investment in the paint business to nearly Rs. 7,000 crore since its inception. Its ‘Make Life Beautiful’ advertisement has received an overwhelmingly positive response. Similarly the response from the Painter and Contractor fraternity is very positive, reinforcing our strategy to eliminate the ‘pain’ from painting. We remain confident in our guidance of achieving Rs. 10,000 crore in revenue within three years of full-scale operations,” the Chairman added.

The B2B e-commerce business for building materials, "Birla Pivot” crossed the Rs. 1,000 crore revenue milestone in its first year of operations. The business has expanded its portfolio to include 35 product categories and over 18,000 SKUs, sourced from more than 150 Indian and international brands, delivering to over 200 cities across 25 states. “Our private labels under the Birla Pivot brand are receiving an excellent response. With the strong growth trajectory in the construction materials sector and the rapid digital adoption across industries, Birla Pivot aims to achieve $1 billion in revenue within the next three years,” Birla said.

Grasim’s sustainability efforts received a significant boost with a Rs. 1,250 crore investment from the International Finance Corporation this year. “This investment, through the subscription of Sustainability-Linked NCDs, will accelerate Grasim’s decarbonization initiatives by enhancing our adoption of renewable energy and advancing water recycling in our paints manufacturing process,” Birla added.

Over the past five years, Grasim has invested Rs. 50,000 crore in capital expenditures, with 77% dedicated to growth initiatives. Remarkably, 40% of this amount, nearly Rs. 20,000 crore, was spent in FY 2023-24 alone, marking the largest-ever capital expenditure in our history.   

For FY 2023-24, the Board proposed a dividend of Rs. 10 per equity share, resulting in a cash outflow of Rs. 669 crore.