Grasim Industries Limited is the flagship company of the Aditya Birla Group, a diversified conglomerate with a significant presence in viscose staple fibre (VSF), chemicals, cement (through UltraTech Cement), and financial services. Historically known as a global leader in VSF, Grasim has transformed into a strategic holding company, with a controlling stake in UltraTech Cement (~59%) and investments in Aditya Birla Capital. However, as of January 2026, its standalone operations face severe headwinds, including plummeting profitability, negligible returns, and a distorted valuation resulting from accounting adjustments. This article provides a data-driven outlook on the Grasim Industries share price target 2026–2030.
Grasim Industries: Company Overview
- Founded: 1947
- Chairman: Kumar Mangalam Birla
- NSE Symbol: GRASIM
- Core Business Segments:
- Viscose Staple Fibre & Chemicals (45%)
- Financial Services & Others (55%)
- Market Position: World’s largest VSF producer; strategic holding company for Aditya Birla Group
Note: UltraTech Cement is not consolidated into Grasim’s financials—it is held as an investment, which significantly impacts standalone metrics.
Grasim Industries: Key Financial Snapshot
| Metric | Value |
|---|---|
| Current Share Price | ₹2,810 |
| Market Capitalization | ₹1,91,338 Cr |
| No. of Shares Outstanding | 68.06 Cr |
| 52-Week High / Low | ₹2,979 / ₹2,301 |
| P/E Ratio (TTM) | 832.88* |
| P/B Ratio | 3.48 |
| EPS (TTM) | ₹3.38 |
| Book Value (TTM) | ₹808.35 |
| ROE | 0.40% |
| ROCE | 1.60% |
| Dividend Yield | 0.36% |
| Face Value | ₹2 |
| Cash | ₹193.72 Cr |
| Debt | ₹11,121.40 Cr |
| Promoter Holding | 43.22% |
| Sales Growth (YoY) | 22.11% |
| Profit Growth (YoY) | –77.56% |
* Note on P/E: The astronomical P/E of 832x stems from collapsed standalone earnings after deconsolidating UltraTech. Core operations are barely profitable.
Grasim Industries Share Price Target Forecast (2026–2030)
| Year | Target Price Range (₹) |
|---|---|
| 2026 | ₹2,850 – ₹3,100 |
| 2027 | ₹2,950 – ₹3,300 |
| 2028 | ₹3,050 – ₹3,600 |
| 2029 | ₹3,150 – ₹3,900 |
| 2030 | ₹3,250 – ₹4,200 |
Grasim Industries Share Price Target 2026
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2026 | ₹2,850 | ₹3,100 |
Grasim reported a 77.56% YoY decline in profit in FY2025 due to VSF margin erosion, high input costs, and restructuring expenses. Despite 22% sales growth, the standalone ROE is just 0.40%, indicating capital destruction. Trading at a P/E of 832x (meaningless without UltraTech earnings), the stock’s value lies in its embedded asset—not operations. A 2026 target range of ₹2,850–₹3,100 assumes no major corporate action but stable market sentiment.
Grasim Industries Share Price Target 2027
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2027 | ₹2,950 | ₹3,300 |
If the company sustains a modest recovery in VSF margins or signals clarity on UltraTech demerger, investor confidence may improve. Assuming minimal EPS growth (₹3.50–₹3.80) and continued premium for hidden value, the 2027 target range of ₹2,950–₹3,300 is justified.
Grasim Industries Share Price Target 2028
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2028 | ₹3,050 | ₹3,600 |
By 2028, benefits from chemical segment expansion and potential monetisation of financial assets could support valuation. A P/B of 3.5–3.8x on projected book value of ₹820–₹850 supports the ₹3,050–₹3,600 band.
Grasim Industries Share Price Target 2029
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2029 | ₹3,150 | ₹3,900 |
Long-term tailwinds include global demand for sustainable fibres and the potential unlocking of UltraTech value. If ROE improves to 2–3%, re-rating is possible. At a P/B of 3.6–4.0x, the 2029 target is ₹3,150–₹3,900.
Grasim Industries Share Price Target 2030
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2030 | ₹3,250 | ₹4,200 |
Over a five-year horizon, Grasim’s appeal lies in optionality—not operations. A terminal P/B of 3.8–4.2x on FY30 book value (~₹820–₹880) justifies the ₹3,250–₹4,200 range—contingent on corporate action.
Grasim Industries: Shareholding Pattern
| Category | Holding (%) |
|---|---|
| Promoters | 43.22% |
| Public & Retail | 23.00% |
| Domestic Institutional Investors (DII) | 16.99% |
| Foreign Institutional Investors (FII) | 14.49% |
High promoter holding ensures strategic continuity. Institutional ownership (31.48%) reflects cautious interest.
Grasim Industries: Strengths vs Risks
Strengths:
- Indirect exposure to UltraTech Cement (59% stake valued at ~₹2.15 lakh Cr)
- Global leadership in VSF and chemicals
- Strong brand under Aditya Birla Group
Risks:
- Standalone ROE near zero (0.40%)
- P/E of 832x is meaningless without UltraTech earnings
- High debt (₹11,121 Cr) with low cash buffer
- Contingent liabilities of ₹12,450 Cr require monitoring
Investment Suitability
| Factor | Assessment |
|---|---|
| Risk Profile | High |
| Ideal Time Horizon | 5+ years |
| Volatility | Higher than market average |
| Dividend/Income Potential | Minimal (0.36% yield) |
| Best For | High-conviction investors betting on value unlock via demerger or spin-off |
FAQs
Is GRASIM a good buy?
Only for high-risk, long-term investors who understand holding company structures. Avoid if you seek operational quality or income.
Why is the GRASIM falling?
Despite strong sales growth, profits collapsed due to VSF margin pressure and high input costs. Standalone ROE of 0.40% makes it unattractive as an operating business.
When did GRASIM share split?
Grasim underwent a face value reduction from ₹10 to ₹2 in 2005 (effectively a 1:5 split). No bonus or split has occurred since.
No. Birla Opus is a wholly-owned subsidiary of Grasim Industries and is not listed separately.
No. Birla Opus is a wholly-owned subsidiary of Grasim Industries and is not listed separately.
Final Verdict
Grasim Industries is currently a value trap disguised as a conglomerate. Its standalone operations are unprofitable, yet its balance sheet holds immense value via UltraTech. The stock’s future hinges on corporate action—not operational turnaround.
Our Grasim Industries share price target 2026–2030 (₹2,850 to ₹4,200) assumes gradual recognition of embedded value. Upside is limited without a demerger; downside is cushioned by UltraTech’s market cap.
Disclaimer: Price targets are estimates based on publicly available data and sector analysis. They are not investment advice. Consult a SEBI-registered advisor before making decisions.
Sources
- Screener.in – Grasim Consolidated Page (FY2025 + TTM)
- Finology Ticker – GRASIM Financials & Analysis
- Groww.in – Grasim Stock Profile
- Aditya Birla Group Investor Presentation (Q3 FY26, Jan 2026)
- BSE Corporate Filings – Subsidiary Disclosures
