Grasim Industries Q4FY26 profit up 31%, brokers bullish

Stock jumps to a fresh high after Q4 results

Shares of Grasim Industries were in strong demand on Thursday, rising 4.67% to hit a 52-week high of ₹3,110 on the NSE, following a strong Q4FY26 earnings print. The move came as the market reacted to higher consolidated profit and revenue for the quarter. Positive brokerage commentary added to the sentiment, with several firms reiterating Buy calls. Grasim operates across cement and cement products, and also has growing exposure to paints and B2B e-commerce. Broker notes highlighted execution and longer-term visibility in newer businesses, alongside margin trends in existing segments. The stock action also reflected renewed focus on near-term operating performance and medium-term milestones shared by brokerages.

Q4FY26 numbers: profit up, revenue higher

Grasim Industries reported a 30.87% year-on-year jump in consolidated net profit to ₹1,957.74 crore in Q4FY26. Revenue from operations increased 15.44% year-on-year to ₹51,101.11 crore over Q4FY25. Following the results, the stock later rose 1.13% to settle at ₹2,971.80, according to one market update. The trading narrative showed strong intraday interest after results, with price action varying across updates cited in the provided material. The quarter’s profit growth and revenue expansion were the central catalysts mentioned for the surge in demand.

Brokerages cite execution in paints and B2B e-commerce

Brokerages including Motilal Oswal Financial Services (MOFSL) and Choice Institutional Equities reiterated Buy ratings on the stock. Their commentary cited strong execution in paints and B2B e-commerce. Notes also pointed to margin expansion in VSF (viscose staple fibre) and chemicals, along with capacity expansion. Brokerages additionally referred to visibility of long-term growth across paints, chemicals, Lyocell, and the Birla Pivot business. The core message across these views was that operating execution in newer segments is being tracked alongside improvements in select margins.

MOFSL: Buy with a ₹3,440 target

MOFSL reaffirmed its Buy call on Grasim Industries and set a target price of ₹3,440. The brokerage highlighted strong execution in paints and B2B e-commerce, margin expansion in VSF, and healthy volume growth in chemicals. The note, as summarised in the provided text, positioned these drivers as key supports for the valuation. MOFSL’s view was among the more prominently cited triggers behind the day’s positive sentiment.

Choice: Buy with a ₹3,500 target

Choice Institutional Equities retained its Buy rating on Grasim Industries with a target price of ₹3,500 per share. The brokerage said this implied an upside of around 13% from the current market price (as cited in the material). Choice’s stance broadly aligned with other positive commentary focused on execution and growth visibility in newer businesses. The target also placed Choice among the higher-end estimates mentioned in the provided updates.

ICICI Securities trims target to ₹3,303, keeps BUY

ICICI Securities maintained its Buy recommendation but moderated the 12-month target price to ₹3,303 from ₹3,480. The revision was attributed primarily to a conservative reassessment of UltraTech Cement’s fair value, described as a principal subsidiary and a key holding. The cut was partly offset by an upward revision in Aditya Birla Capital’s valuation. ICICI Securities also noted resilient EBITDA performance that surpassed its forecasts and reiterated confidence in meeting revenue milestones for new business verticals. The note referenced the stock trading around ₹2,882 and estimated upside potential of about 15% versus its revised target.

New segments: FY27 guidance and FY28 profitability goal (as cited)

The provided text referred to revenue guidance of ₹10,000 crore for paints and ₹8,500 crore for e-commerce by FY27, as per ICICI Securities’ summary. Separately, it also said Grasim reiterated confidence to meet its ₹10,000 crore paints revenue guidance and turn the segment profitable in FY28, with management confidence linked to record sales seen in Sep/Oct’25. These milestones were framed as monitorables for investors tracking the scaling of new businesses. One note also said further revenue traction in paints remains a key monitorable.

Price, targets, and consensus: what the updates show

The material included multiple price references across exchanges and time points. Alongside the NSE’s reported 52-week high of ₹3,110, another data point cited a 52-week range of ₹2,171.60 to ₹2,877.75. Separate updates also mentioned the stock closing 1.23% lower at ₹2,675.20 on the BSE on Thursday, and trading 1.03% higher at ₹2,702.7 on the BSE at 10:40 am in another context. On the brokerage side, Antique Stock Broking retained a Buy rating with a target of ₹2,875, indicating nearly 8% upside as stated in the text. Another line in the material referenced maintaining Buy with an unchanged target price of ₹3,093 and an estimate of ₹4,000 crore paint revenue for FY26.

Market impact: what changed for investors

The immediate market impact described was a sharp move higher on the NSE after Q4FY26 results and profit growth of 30.87% year-on-year. Brokerage reiterations of Buy ratings and target prices helped frame the earnings in the context of multi-year plans in paints and B2B e-commerce. Guidance references such as paints revenue of ₹10,000 crore by FY27 and a profitability goal in FY28 (as cited) are likely to keep investor focus on quarterly traction in new segments. ICICI Securities’ target revision also shows how valuations of key holdings like UltraTech Cement can influence the sum-of-the-parts view, even when operating performance is described as resilient. The wide spread of cited prices and ranges across updates underlines that investors should track the specific exchange, timestamp, and reference used in any market snapshot.

Analysis: why the broker commentary matters

The updates show that the stock’s reaction was not driven solely by Q4 headline profit growth, but also by how brokerages interpreted execution in newer businesses. Multiple firms pointed to paints and B2B e-commerce as key drivers for future scale, while also calling out margin expansion in VSF and chemicals and capacity expansion. ICICI Securities’ moderation of its target, despite keeping a Buy rating, highlights that holding-company valuations can shift based on fair value changes in large subsidiaries and group entities. Meanwhile, the presence of several Buy ratings and a cited analyst consensus average target of ₹2,927.10 provides context that the market is balancing near-term performance with valuation assumptions.

Conclusion

Grasim Industries’ Q4FY26 results, including net profit of ₹1,957.74 crore and revenue of ₹51,101.11 crore, triggered strong demand and a reported 52-week high of ₹3,110 on the NSE. Brokerages including MOFSL, Choice, and ICICI Securities reiterated Buy calls with targets ranging from ₹3,303 to ₹3,500, while also tracking scaling in paints and B2B e-commerce. The next key reference points, based on the provided material, are execution updates in new segments and any follow-through to the cited FY27 revenue milestones and the FY28 profitability goal for paints.