Grasim bets big on new growth engines as revenue nears ₹2 lakh crore

Grasim Industries is increasingly reshaping its portfolio around newer growth businesses even as its traditional operations continue to generate strong cash flows, with Chairman Kumar Mangalam Birla saying the company is poised to reach ₹2 lakh crore in consolidated revenue in FY27.

Addressing shareholders at Grasim’s 79th annual general meeting on Friday, Birla said the company has built a portfolio combining established businesses with newer platforms across building materials, financial services and renewable energy. “The story of Grasim has always been one of transformation,” he said, adding that the company now has 10 business lines and a market capitalisation exceeding ₹2 trillion.

Birla Opus emerges as a new growth engine

Among Grasim’s newer businesses, Birla Opus has rapidly scaled in the highly competitive decorative paints market. Birla said the business doubled its revenue year-on-year in FY26 and achieved a 10% revenue market share on a standalone basis.

The paints business has also become the No. 2 player by capacity market share, while Grasim’s combined revenue market share, including Birla White putty, has reached the early teens.

“Birla Opus in just two years, has moved from launch to scale,” Birla said, describing the business as “a formidable force in India’s decorative paints industry.”

Birla Pivot scales ahead of target

Grasim’s B2B building-materials platform, Birla Pivot, is another emerging growth engine. The company said the digital platform has already surpassed its annual revenue guidance of ₹8,500 crore, achieving the target a full year ahead of schedule.

Birla said Pivot is creating a technology-led platform connecting manufacturers, dealers, contractors and institutional buyers, bringing greater efficiency and transparency to a fragmented building-materials value chain.

Financial services and renewables expand

Aditya Birla Capital is also becoming a key part of Grasim’s growth strategy as India’s financialisation deepens. During FY26, the financial services business completed a ₹4,000 crore preferential issue, while Advent International invested ₹2,750 crore in Aditya Birla Housing Finance.

Renewables represent another major growth opportunity. Birla said Aditya Birla Renewables has expanded from a 2 GW platform to visibility of around 10 GW, with an ambition to scale to 20 GW and beyond.

The recently announced acquisition of Sprng Energy from Shell adds about 5 GW of peak contracted renewable capacity, strengthening the platform across commercial and industrial as well as utility-scale projects.

Core businesses fund the transformation

While the newer businesses are scaling, Grasim’s established operations remain central to the portfolio. UltraTech Cement crossed 200 million tonnes per annum of grey cement capacity in April, while the Cellulosic Fibres business is investing nearly ₹4,000 crore to expand Lyocell capacity by nearly five times.

Birla said the portfolio architecture deliberately combines established businesses with new growth engines. “Our established businesses continue to generate strong cash flows, while our new growth engines are scaling rapidly and creating long-term value,” he said.

Looking ahead, Birla said Grasim will strengthen its core businesses, scale newer platforms and deepen its presence in high-growth categories. “The most important differentiator will remain, Execution,” he said.