Transcript of Conference Call on the Unaudited Financial Results (Standalone & Consolidated) for the quarter ended 30th June 2026

Ref No. GIL/CFD/SEC/27/087/SE 17th August 2026 BSE Limited National Stock Exchange of India Limited Scrip Code: 500300 Symbol: GRASIM Dear Sir/Madam, Sub: Transcript of post Earnings Call Ref: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Please find enclosed the transcript of post Earnings Call held on 12th August 2026 on the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended 30th June 2026 and the same is also available at https://www.grasim.com/Upload/PDF/grasim-earnings-call-transcript-q1fy27.pdf Thanking you, Yours sincerely, For Grasim Industries Limited Neelabja Chakrabarty Company Secretary and Compliance Officer ACS – 16075 Encl.: as above Luxembourg Stock Exchange Citibank N.A. Citibank N.A. 35A Boulevard Joseph II Depositary Receipt Services Custodial Services L-1840 Luxembourg 388 Greenwich Street, FIFC, 11th Floor, C-54 & 55, 26th Floor, New York G Block Bandra Kurla NY 10013 Complex, Bandra (East), Mumbai – 400051 Grasim Industries Limited Aditya Birla Centre, ‘A’ Wing, 2nd Floor, S.K. Ahire Marg, Worli, Mumbai 400 030, India T: +91 22 6652 5000 / 2499 5000 | F: +91 22 6652 5114 / 2499 5114 E: grasim.secretarial@adityabirla.com | W: www.grasim.com | CIN: L17124MP1947PLC000410 Regd. Office : Birlagram, Nagda – 456 331 (M.P.) “Grasim Industries Limited Q1 FY27 Earnings Call” August 12, 2026 Management: Himanshu Kapania – Managing Director And Business Head, Birla Opus Paints Hemant Kadel – Chief Financial Officer Vadiraj Kulkarni – Business Head, Cellulosic Fibres Jayant Dhobley – Business Head, Chemicals, Fashion Yarn and Insulators (CFI) Sachin Sahay – CEO, Birla Opus Sandeep Komaravelly – CEO, Birla Pivot Disclaimer: E&OE - This transcript is edited for readability purposes, factual and verbatim errors. In case of discrepancy, the audio recording uploaded on the website on 12th August 2026 will prevail. Page 1 of 18 Grasim Industries Limited August 12, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Q1 FY27 Earnings Call hosted by Grasim Industries. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touchtone phone. I now hand over the conference call to Mr. Ankit Panchmatia, Head Investor Relations of Grasim Industries. Thank you and over to you, Mr. Ankit. Ankit Panchmatia: Good evening and thank you for joining Grasim's first quarter financial year 2027 Earnings Call. The financial statements, press release, and presentation are already uploaded on the websites of stock exchanges and our website for your reference. For safe harbor, kindly refer to cautionary statement highlighted in the last slide of our presentation. Our management team is present here on this call to discuss our results and business performance. We have with us Mr. Himanshu Kapania, Managing Director Grasim Industries and Business Head Birla Opus Paints; Mr. Hemant Kadel, Chief Financial Officer of Grasim Industries. We also have with us Mr. Jayant Dhobley, Business Head of Chemicals, Cellulosic Fashion Yarn, and Insulator business; Mr. Vadiraj Kulkarni, Business Head of Cellulosic Fibers business; Mr. Sachin Sahay, CEO Birla Opus Paints; and Mr. Sandeep Komaravelly, CEO Birla Pivot which is our B2B e-commerce business. Let me now hand over the call to Himanshu sir for his opening remarks. Over to you, sir. Himanshu Kapania: Thank you, Ankit. Good evening, good afternoon, or good morning as applicable to each one of you and thank you for joining the Grasim quarter one Financial Call 2027. Let me begin with the headline. Financial year 26 was a landmark year for Grasim and we continued the same momentum entering financial year 27. In quarter one FY27, we achieved highest ever revenues of INR48,716 crores with a year-over-year growth of 21%. I remember not too far away, two years ago exactly, the quarterly run rate of revenues used to be around INR32,000 crores to INR33,000 crores, and today we are already reaching about a quarterly run rate of nearly INR50,000 crores. A whopping 1.5x growth in quarterly revenues, which is a two-year CAGR of 25%. I want to draw your attention to the consistency behind these quarterly numbers because a single strong quarter proves very little. This is now our 24th consecutive quarter of Y-on-Y revenue growth. What that tells you is that our performance is not resting on one business or one favorable cycle. The core, which is our cement, cellulosic fiber, chemicals, and financial services business, are compounding. The new engines, which are our paints and B2B e-commerce business, are multiplying. I would like to draw an analogy here that this combination of core and growth business portfolio is doing what an all-weather portfolio is meant to do, that is deliver consistent returns. A key highlights this quarter is the accelerating momentum in our standalone business. Standalone revenues for the quarter one of 2027 grew at a faster rate, that is 28% year- on-year to INR11,795 crores. More importantly, it's incrementally becoming a larger and more meaningful contributor to Grasim's consolidated growth journey. EBITDA more than doubled with a 107% growth to INR1,094 crores. This clearly shows that the standalone portfolio is not only growing faster but also scaling with speed and improving profitability. Let me now start with some macros, then will take you through the business one by one. The global economy continues to navigate an increasingly complex landscape. While inflation has moderated across several developing markets and central banks like U.S. Federal Reserve has Page 2 of 18 Grasim Industries Limited August 12, 2026 maintained a cautious and data-dependent stance, inflation has eased materially from its peak. The Federal Open Market Committee has still reiterated that the path of monetary policy will continue to be guided by incoming data, particularly on inflation and labor markets. China continues to face a relatively subdued recovery led by weakness in its property sector and manufacturing activity, while Europe is witnessing modest growth amidst softer industrial demand. Geopolitical developments have emerged as one of the most significant variables shaping business sentiments and global trade. The ongoing conflicts in parts of Europe and the Middle East, coupled with the evolving trade policies and supply chains realignments, have increased uncertainty across global markets. These developments have at times disrupted shipping routes, elongated transit times, and created intermittent challenges around the availability and pricing of key commodities and raw materials. Freight costs and energy prices have also witnessed bouts of volatility, making procurement planning and inventory management significantly more dynamic than in the past. Against this backdrop, India continues to remain a bright spot in the global economy. More importantly, the RBI in its latest Monetary Policy Committee meeting acknowledged the resilience for domestic growth and revised its FY27 GDP growth forecast upwards to 6.7%, reflecting confidence in India's underlying economic fundamentals. Strong domestic consumption, sustained public infrastructure investments, improving private capital expenditure, and healthy financial sector fundamentals continue to underpin economic growth. Let me now start on business performance and starting with paints. Two years ago, Birla Opus started with a promise. A promise to not merely participate in the industry but to fundamentally reshape it. We articulated an ambition of building India's second largest decorative paints company and more importantly, creating a brand that would stand for quality, innovation, reliability, and consumer trust. Today, just two years later, I am proud [Showing first 8,000 characters — download PDF for full document]