Financials Grasim Industries Limited

Equities

GRASIM

INE047A01021

Construction Materials

Delayed NSE India S.E. 02:05:26 03/05/2024 pm IST 5-day change 1st Jan Change
2,473 INR +1.45% Intraday chart for Grasim Industries Limited +4.32% +15.82%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 5,64,187 3,12,560 9,52,558 10,93,210 10,72,518 16,53,876 - -
Enterprise Value (EV) 1 5,64,215 3,40,208 9,61,222 10,84,674 10,90,318 17,08,351 17,18,668 17,24,671
P/E ratio 109 x 24.6 x 105 x 35.9 x 50.5 x 96.1 x 85.3 x 74.5 x
Yield 0.82% 0.84% 0.62% 0.3% 0.61% 0.25% 0.25% 0.26%
Capitalization / Revenue 2.75 x 1.68 x 7.69 x 5.24 x 4 x 6.54 x 5.94 x 5.46 x
EV / Revenue 2.75 x 1.83 x 7.76 x 5.2 x 4.06 x 6.75 x 6.17 x 5.69 x
EV / EBITDA 13.9 x 14.7 x 61.4 x 33.7 x 34.3 x 69.5 x 55.1 x 49 x
EV / FCF 110 x 42.4 x 79.8 x 919 x -64 x -56.1 x -65.3 x 542 x
FCF Yield 0.91% 2.36% 1.25% 0.11% -1.56% -1.78% -1.53% 0.18%
Price to Book 1.34 x 0.83 x 2.22 x 2.25 x 2.29 x 2.63 x 2.48 x 2.37 x
Nbr of stocks (in thousands) 6,57,598 6,56,501 6,56,687 6,56,977 6,56,898 6,78,555 - -
Reference price 2 858.0 476.1 1,451 1,664 1,633 2,437 2,437 2,437
Announcement Date 24/05/19 13/06/20 24/05/21 24/05/22 26/05/23 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 2,05,504 1,86,094 1,23,864 2,08,568 2,68,397 2,53,038 2,78,404 3,03,117
EBITDA 1 40,712 23,105 15,643 32,162 31,799 24,575 31,173 35,211
EBIT 1 33,108 14,638 7,362 23,022 20,826 12,671 18,035 19,839
Operating Margin 16.11% 7.87% 5.94% 11.04% 7.76% 5.01% 6.48% 6.54%
Earnings before Tax (EBT) 1 13,117 13,913 9,329 28,812 26,452 19,494 22,264 24,630
Net income 1 5,153 12,700 9,050 30,513 21,237 16,690 19,025 21,217
Net margin 2.51% 6.82% 7.31% 14.63% 7.91% 6.6% 6.83% 7%
EPS 2 7.840 19.34 13.77 46.40 32.31 25.35 28.58 32.74
Free Cash Flow 1 5,115 8,030 12,041 1,181 -17,036 -30,448 -26,323 3,180
FCF margin 2.49% 4.31% 9.72% 0.57% -6.35% -12.03% -9.46% 1.05%
FCF Conversion (EBITDA) 12.56% 34.75% 76.97% 3.67% - - - 9.03%
FCF Conversion (Net income) 99.27% 63.23% 133.05% 3.87% - - - 14.99%
Dividend per Share 2 7.000 4.000 9.000 5.000 10.00 6.200 6.200 6.300
Announcement Date 24/05/19 13/06/20 24/05/21 24/05/22 26/05/23 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 37,627 49,330 57,847 63,764 72,530 67,452 61,956 66,458 62,376 64,420 64,002 63,359
EBITDA 1 7,402 8,012 9,221 7,526 13,202 9,566 4,770 4,260 6,734 5,936 5,225 4,766
EBIT 5,384 5,937 7,004 4,696 10,651 6,904 - - 3,856 3,017 - 1,779
Operating Margin 14.31% 12.04% 12.11% 7.37% 14.68% 10.24% - - 6.18% 4.68% - 2.81%
Earnings before Tax (EBT) 1 5,453 12,411 6,875 4,073 10,221 12,728 - 1,353 3,958 9,552 2,391 1,850
Net income 1 4,816 9,791 5,225 10,680 8,086 9,643 - 935.1 3,553 7,947 2,363 1,394
Net margin 12.8% 19.85% 9.03% 16.75% 11.15% 14.3% - 1.41% 5.7% 12.34% 3.69% 2.2%
EPS 7.330 14.89 7.950 16.24 12.29 14.68 - - - - - 2.300
Dividend per Share - - - - - - - - - - - -
Announcement Date 13/08/21 12/11/21 14/02/22 24/05/22 12/08/22 14/11/22 14/02/23 26/05/23 10/08/23 13/11/23 08/02/24 -
1INR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 28.6 27,648 8,664 - 17,800 54,475 64,792 70,795
Net Cash position 1 - - - 8,535 - - - -
Leverage (Debt/EBITDA) 0.000703 x 1.197 x 0.5539 x - 0.5598 x 2.217 x 2.078 x 2.011 x
Free Cash Flow 1 5,115 8,030 12,041 1,181 -17,036 -30,448 -26,323 3,180
ROE (net income / shareholders' equity) 5.93% 3.19% 2.24% 6.66% 4.44% 3.6% 3.49% 3.82%
ROA (Net income/ Total Assets) 4.88% 2.51% 1.74% 5.2% 3.4% - - -
Assets 1 1,05,594 5,06,442 5,21,403 5,86,681 6,24,067 - - -
Book Value Per Share 2 638.0 573.0 653.0 738.0 713.0 926.0 984.0 1,028
Cash Flow per Share - 53.60 36.50 - - - - -
Capex 1 20,440 27,155 11,932 25,382 40,225 58,397 46,400 34,167
Capex / Sales 9.95% 14.59% 9.63% 12.17% 14.99% 23.08% 16.67% 11.27%
Announcement Date 24/05/19 13/06/20 24/05/21 24/05/22 26/05/23 - - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

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Investor Rating
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B+
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