Financial Services

Aditya Birla Capital Limited (ABCL)

Chemicals

Aditya Birla Chemicals (Thailand) (ABCTL)

Fashion

Aditya Birla Fashion and Retail Limited (ABFRL)

Trading

Aditya Birla Global Trading

Aditya Birla Health Insurance Limited (ABHICL)

Dining & Experiences

Aditya Birla New Age Hospitality  (ABNAH)

Carbon Black

Birla Carbon

Birla Cellulose

Paints

Birla Opus Paints

Cellulosic Fibre

Century Enka

Domsjö Fabriker (Domsjö)

Textiles

Grasim Industries Limited

Metals

Hindalco Industries Limited

Yarn

Indo Thai Synthetics Company Limited

Jewellery

Indriya

Novelis Inc

Thai Acrylic Fibre Co. Ltd (TAF)

Cement

UltraTech Cement Limited

Telecom

Vodafone Idea Limited (Vi)

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Build Better Todays

Grasim Industries Limited is the flagship company of Aditya Birla Group. It started as a textiles manufacturer in India in 1947. Today, it has evolved into a leading diversified player with leadership presence across many sectors. It is a leading global producer of Viscose, Diversified Chemicals, Linen Yarn and Fabrics producer in India.&nbsp;The company recently has entered paints business under the brand name ‘Birla Opus’ and would be setting up six plants of manufacturing decorative paints across Pan India locations.&nbsp;Leveraging the Group synergies, Grasim has launched “Birla Pivot”, the B2B online marketplace for building materials. Through its subsidiaries, UltraTech Cement, Aditya Birla Capital and Aditya Birla Renewables, it is also India’s prominent cement producer, leading diversified financial services player and clean energy solutions player.&nbsp;<h3>Grasim has a strong presence in the market through following businesses:</h3>Viscose Staple FibreGrasim is India's pioneer in VSF — a man-made, bio-degradable fibre that is fast emerging as a sustainable alternative to cotton. A versatile fibre, VSF is used in apparel, home textiles, dress materials, knit wears and non-woven applications. Grasim’s business, Birla Cellulose, has a range of fibres which can be used in their original form, or can be blended with all natural and synthetic fibres for enhanced comfort and feel.Starting production in 1954 at Grasim’s Nagda facility, the business has grown steadily over seven decades. The Pulp &amp; Fibre Business of Grasim derives its competitive edge from its integrated business model, with captive raw materials - dissolving grade wood pulp, caustic soda, carbon-disulphide, power generation and steam.Birla Cellulose’s product portfolio includes Livaeco™ by Birla Cellulose, Birla Modal™, Birla Excel™, Birla Viscose™ and Birla Spunshades™. Birla Cellulose fibres are of natural origin, moisture absorbent, have soft feel, and are completely biodegradable.&nbsp;Viscose Filament YarnGrasim Industries Limited is the largest viscose filament yarn (VFY) manufacturer in India and the 3rd largest globally. The company is also the largest VFY exporter in India with exports to 45 countries.VFY business became a part of Grasim Industries Limited on 1st July 2017, following the merger of Aditya Birla Nuvo Limited. Subsequently, Grasim acquired the rights to operate and manage the Century Rayon division of Century Textiles and Industries Limited (CTIL) from 1st February 2018. Since then, Grasim’s VFY production capacity has increased to 48 KTPA.Represented as the brand Raysil® (formerly known as RayOne), VFY is of 100% natural origin and its product portfolio includes 20 deniers to 1200 deniers of both bright and dope dyed viscose filament yarns. Its versatility, superior drape, fluidity and lustre make it a popular choice for manufacturing fabrics such as georgettes, crepes, chiffons, and many more.Grasim’s VFY is manufactured at its twin locations in Shahad, Maharashtra and Veraval, Gujarat.&nbsp;ChemicalsIn 1972, Grasim’s chemicals business was set up to manufacture caustic soda for the company’s VSF unit. Today, it is one of India’s largest caustic soda producers and is a market leader in the chlor-alkali segment. &nbsp;Over the years, Grasim’s chemicals business has created a strong foothold in the industry and offers a wide range of products from chlorine derivatives to epoxy.Chlor-alkali: In 2016, Grasim’s merger with Aditya Birla Chemicals India Ltd. (ABCIL) helped catapult the company’s caustic soda capacity from 452 KTPA to 884 KTPA making it the largest producer of caustic soda in India back then. Today, Grasim’s total caustic soda capacity is 1,290 KTPA. Through brownfield expansion, Grasim plans to expand the caustic soda capacity to 1,530 KTPA from 1,290 KTPA by 2024.The business uses cost-effective membrane cell technology and is largely self-sufficient in power. For gainful utilisation of chlorine, the business has portfolio of chlorine derivatives like Stable Bleaching Powder (SBP), Polyaluminium Chloride (PAC), Chlorosulphonic Acid (CSA), Chlorinated Paraffin Wax (CPW), Calcium Chloride (CaCl), Aluminium Chloride (AlCl) and Chloromethane (CMS).Epoxy: The business’ epoxy products range from basic products like liquid epoxy resins to value added products like formulated resins, reactive diluents and hardeners. The manufacturing complex at Vilayat houses a 123 KTPA capacity epoxy plant. Through expansion, Grasim plans to double the epoxy capacity to 246 KTPA by FY2024.&nbsp;TextilesGrasim ventured into the textiles industry in 1949 by setting up Jaya Shree Textiles at Rishra, West Bengal. Today, Jaya Shree Textiles is one of India’s leading linen and wool manufacturers. It has four strategic business units (SBUs) i.e., linen spinning, linen fabric, wool combing and worsted spinning. Today, Jaya Shree Textiles sells its products in over 50 countries, spanning across six continents.Jaya Shree Textiles has provided the evolving Indian fashion industry with an international edge. Finest flax is sourced from France, Belgium and other parts of Europe to make 100% pure linen. Cutting edge European technology is used to spin the fibres, weave and dye them which makes it unique and difficult to replicate. This superior technology also enables Jaya Shree Textiles to manufacture over 3000 different types of weaves, textures and blends. The company has significantly revolutionised the Indian textile market by popularising linen in India across a wide customer base with its brand ‘Linen Club’.Linen Club is the largest linen fabric brand in India with expertise in linen manufacturing and design, for more than 70 years. Linen Club is the pioneer of linen in India and is now retailed through both exclusive retail outlets and multi-brand outlets. It is the largest linen retail chain in the world.&nbsp;Know more about <a href="/businesses/brands/linen-club/">Linen Club</a>&nbsp;InsulatorsAditya Birla Insulators is India’s largest manufacturer of electrical insulators and is amongst the top four insulator manufacturers globally. It produces the widest range of insulators in India including insulators for transmission lines &amp; substations up to 1200 kV voltage level, as well as equipment &amp; railways. Its total installed manufacturing capacity is 56,400 TPA with specialisation in both ceramic and composite insulators. The company commissioned Composite Hallow Core Insulators (CHCI) plant at Halol which is a joint venture between Aditya Birla Power Composites Limited (ABPCL) with Maschinenfabrik Reinhausen GmbH of Germany in 2019.Know more about <a href="/businesses/companies/aditya-birla-insulators/">Aditya Birla Insulators</a> and <a href="/businesses/companies/aditya-birla-power-composites-limited-abpcl/">Aditya Birla Power Composites Limited</a>&nbsp;PaintsThrough Birla Opus, Grasim aims to be one of the biggest players in the fast-growing decorative paints industry. It plans to set up six manufacturing plants in Haryana, Punjab, Karnataka, Tamil Nadu, Maharashtra, and West Bengal till FY 2025 with a total capacity of 1,332 MLPA and a project cost of ₹10,000 Crore.The trial run for Birla Opus’s three plants began in the third quarter of FY23-24. It’s painting service, branded as PaintCraft, had completed projects at more than 150 sites by December 2023.&nbsp;&nbsp;B2B E-CommerceBirla Pivot, the B2B e-Commerce platform for building solutions, is a business unit of Grasim Industries Ltd. Birla Pivot will primarily focus on MSMEs in the Building Materials segment with the potential to further extend to other relevant categories. It’s key value proposition is an integrated procurement solution including on-time delivery and a superior product range at competitive pricing.&nbsp;Covering a spectrum of building materials, Birla Pivot aims to become a one-stop destination for all procurement needs. Birla Pivot has already onboarded over 120 brands and 5500+ SKUs (stock keeping units), providing its customers with a diverse range of categories &amp; products. These categories are steel, cement, tiles &amp; surfaces, ply &amp; laminates, doors, windows, sanitary &amp; bath fitting, among others. The platform is rapidly launching across North, West &amp; South India.

<h3>Dear fellow Shareholders</h3>A very warm welcome to the 78th Annual General Meeting of <a href="/businesses/companies/grasim-industries-limited/">Grasim Industries</a>.It is a moment of significance for all of us. Your Company has scaled a new pinnacle, reaching an all-time high market capitalisation of approximately Rs. 1,95,000 crore, now within striking distance of the &nbsp; &nbsp; &nbsp; &nbsp;Rs. 2,00,000 crore milestone. This milestone underscores the power of bold ambition, disciplined execution, purposeful innovation, and unyielding commitment.FY25 was, in every sense, a landmark year. Our consolidated revenue surged to an all-time high of nearly Rs.1,50,000 crore, a testament to the scale, resilience, and momentum of the enterprise that we continue to build.Grasim, established 10 days after India’s independence, draws its origins from the spirit of nation-building. Over the past eight decades, as India transformed from a fledgling economy into a global powerhouse, Grasim has stood firm as a true Force for Growth, catalysing expansion across sectors vital to India’s progress.For example, <a href="/businesses/companies/ultratech-cement-limited/">UltraTech Cement</a> has laid the physical foundations for highways, cities, and infrastructure across the country. Our fibre brands, Liva and Raysil, have redefined modern Indian fashion with innovation and elegance. In Chemicals, we power critical industries spanning metals, textiles, pharmaceuticals, and energy. Our investments in renewable energy signal a deep commitment to a more sustainable and future-ready India. And through <a href="/businesses/companies/aditya-birla-capital-limited-abcl/">Aditya Birla Capital</a>, we are enabling millions of Indians to unlock opportunity, equipping them with the financial tools to aspire, to achieve, and to advance.In keeping with its legacy of dynamism, Grasim has, over the past 18 months, ventured into two new high-potential areas, Birla Pivot, a next-generation B2B E-commerce platform in the building materials space, and <a href="/businesses/companies/birla-opus-paints/">Birla Opus</a>, a bold entry into the paints industry. These new ventures, alongside UltraTech Cement, our flagship in the infrastructure space, significantly deepen our presence in the building materials ecosystem. Today, construction accounts for 8–9% of India’s GDP. As the nation charts its course from a US$5 trillion to a US$10 trillion economy, Grasim’s Building Materials segment is poised to play a pivotal role in shaping the physical and economic contours of this national transformation.UltraTech Cement and Aditya Birla Capital are prime examples of transformation and of value creation. Their journeys represent Grasim’s ability to create shareholder value by incubating, nurturing and scaling new businesses. This track record has made Grasim a true Force for Growth.Before we reflect on your Company’s performance, let me take a closer look at the broader macroeconomic environment in which we operate.The global economy expanded by 3.3 percent in 2024, slightly below 3.5 percent in 2023, according to the IMF. The United States recorded 2.8 percent GDP growth, supported by consumption, public spending, investments, and exports. In contrast, growth in several Asian and European economies slowed. China’s recovery remained subdued, with weak consumption and a struggling construction sector. Several structural and external factors continued to affect global output. These included as we know geopolitical tensions, trade conflicts, slower productivity, and high public debt levels. Despite these challenges, inflation declined from 6.6 percent in 2023 to 5.7 percent in 2024, helped by easing supply constraints and by tighter monetary policy.Global growth is expected to moderate to 3.0 percent in 2025 and edge up to 3.1 percent in 2026. Advanced economies are expected to face slowing growth, from 1.8 percent in 2024 to 1.5 percent in 2025. While declining inflation and monetary easing offer some support, risks remain from geopolitical uncertainty, higher borrowing costs, and fiscal pressures. &nbsp;<h3>Moving on to India.</h3>In 2024-25, India recorded GDP growth of 6.5 percent, remaining the fastest-growing large economy in the world. The last quarter saw growth of 7.4 percent, led by construction and manufacturing sectors. This was driven by macroeconomic stability, government capital expenditure, and stronger private demand as well. Agriculture recovered, supported by good weather and water storage.Headline inflation averaged 4.6 percent in 2024-25, down from 5.4 percent in the previous year. The decline reflected lower input costs, supply-side measures, and monetary tightening. In response to easing inflation, the Monetary Policy Committee has lowered the repo rate by 100 basis points in 2025, bringing it down to 5.50 percent.The financial sector remained stable, with improved asset quality and strong credit growth. Bond yields for both government and corporate debt declined, reflecting easing domestic financial conditions.India's GDP is expected to grow at 6.5 percent in 2025-26. Growth is likely to be supported by continued government investment, recovery in consumption, and prudent fiscal management. The manufacturing sector is expected to strengthen further due to domestic demand, better capacity utilisation, and policy support through the Production Linked Incentive (PLI) scheme and the National Manufacturing Mission.The construction sector is also poised for robust performance, aided by the increased focus on infrastructure projects through Gati Shakti, higher allocation for affordable housing schemes, and Asset Monetisation Plans aimed to unlock the infrastructure funds.Despite risks from global market volatility, geopolitical developments, and fragmented trade relations, India’s strong fundamentals, resilient financial system, and policy focus on long-term stability, position us well to sustain growth. The country is expected to retain its position as the fastest-growing major economy in the world in FY 2025-26. &nbsp;<h3>Moving on to your Company’s performance.</h3>We achieved our highest-ever consolidated revenue of Rs.1,48,478 crore. That is a stellar achievement. Standalone revenue also reached a record high of Rs.31,563 crore, a robust 22% year-on-year growth that reflects both the momentum of our new ventures and the enduring strength of our core businesses. During the year, our total consolidated capital expenditure stood at approximately Rs.17,000 crore, with nearly Rs.13,000 crore directed towards growth incentives.Let me now turn to the performance of our key business segments, beginning with Paints, a space where we are rewriting the rules of the game.The Birla Opus team has demonstrated remarkable precision and speed in execution. In under 18 months, Your Company has commissioned five state-of-the-art manufacturing facilities, with a sixth set to go live in the next month. Once fully operational, Birla Opus will command approximately 24% of the installed capacity in India’s decorative paints industry, a staggering entry for a new player in an industry that is around for more than five decades.In just six months since its pan-India portfolio launch, Birla Opus has already emerged as the third-largest player in the Indian decorative paints industry. That is a remarkable achievement. When combined with our putty business, as is standard in industry benchmarks, our market share has already crossed the double-digit threshold. This strong early momentum reinforces our ambition to become the second-largest player in the sector at the earliest possible.Birla Opus is truly reshaping the decorative paints market. With 175 plus products across more than 1,460 SKUs spanning all six decorative paint categories, the brand is redefining customer experience and customer choice. Our footprint now extends to over 8,000 towns, underpinned by a robust network of 141 depots and a differentiated retail strategy led by Birla Opus Studios and Birla Opus Paint Galleries.At the heart of this transformation lies deep integration of technology. Every Birla Opus plant is designed around Industry 4.0 principles, embedding end-to-end automation, AI-driven operations, and intelligent manufacturing systems that deliver precision, speed, and sustainability, all of these at scale.We remain firmly on track to align our revenue share with our installed capacity share of ~24%, and to achieve our near-term revenue aspiration of Rs. 10,000 crore by the third year of full-scale operations.Next is Birla Pivot, our B2B e-commerce platform, that is bringing technology and trust into India’s vast and often informal construction materials market. What began as a bold idea has swiftly become a fast-scaling business with a revenue run rate of more than Rs. 5,500 Cr. In a very short span of time, it has emerged as an relevant decision-making and logistics provider for builders, developers, dealers, and contractors across India. At Birla Pivot, we are redefining B2B digitisation by putting AI at the heart of our operations. With a catalogue of over 40,000 SKUs and a presence in 375 cities across 26 states in a very short span, Birla Pivot is solving pain points with real impact. In doing so, we are enabling competitiveness for India’s entrepreneurs and strengthening the foundation of India’s manufacturing and construction economy. The business revenue continues to grow in line with the plan and remains on track to cross Rs 8,500 crore in Annualized Revenue by FY27, the US $1 billion guidance given by the company earlier.So, both businesses, Birla Opus and Birla Pivot are firmly on track to achieve the ambitious targets set at inception, reinforcing Grasim’s ability to seed and grow new engines of long-term value creation.Moving to our Cellulosic Fibres business which recorded its highest-ever revenue of Rs.15,897 crore, driven primarily by robust volume growth and a rising share of Specialty Fibres. We have initiated work on the first phase of the Lyocell Fibre project at Harihar, in Karnataka, with an initial capacity of 55 KTPA out of a total planned 110 KTPA. The project is on track for commissioning by mid-2027, making a significant step in advancing our leadership in sustainable fibres.Our Chemicals business continues to consolidate position its leadership, with an expanded installed capacity of 1,505 KTPA, making it the largest producer of caustic soda in the country. FY 2024–25 saw improved net ECU realisation over the previous year, aided by firmer global pricing. The Chlorine Derivatives segment also posted strong gains, supported by focused portfolio development. In Specialty Chemicals, our epoxy polymers and curing agents capacity has been expanded to the highest-ever level in the country. Two major facilities, the ECH and CPVC plants at Vilayat, are stated for commissioning in FY 2025–26, reinforcing our integrated value chain in advanced materials.Moving on to UltraTech Cement, our subsidiary, which continues to accelerate its growth trajectory. In FY 2024–25, the Company closed significant strategic acquisitions, both very large cement companies, India Cements and Kesoram Cement, moves that enhance not only scale but also capability and market depth across India’s infrastructure ecosystem. We remain firmly on course to cross 200 MTPA of cement capacity in this fiscal year itself, a full year ahead of the original FY27 timeline.Aditya Birla Capital, our financial services arm, sustained its growth momentum, closing FY 2024–25 with a record combined loan book (NBFC + HFC) of over Rs.1,57,000 crore with an all-time high AUM exceeding Rs. 5,00,000 crore. A landmark development during the year was the successful strategic merger with Aditya Birla Finance, its wholly owned subsidiary, creating a stronger, unified NBFC platform with enhanced operational scale and streamlined compliance.<a href="/businesses/companies/aditya-birla-renewables-abrl/">Aditya Birla Renewables</a>, our clean energy business, is scaling rapidly with a goal to add 1 GW of capacity annually. In FY 2024–25, the business recorded 35% revenue growth, propelled by capacity additions that brought total cumulative capacity to 1.5 GW. The performance reflects our commitment to building a future-ready, sustainable energy portfolio.Let me now turn to a principle that is deeply embedded in every facet of Grasim’s growth sustainability.Sustainability is part of our DNA, shaping how we create value for communities, industries, and the Indian economy at large. This year marks a pivotal moment in our Net Zero journey. We have moved beyond business-specific sustainability goals to adopt a unified, enterprise-wide framework at the Grasim level. This strategic shift brings coherence, fosters synergy, and enables us to track progress more holistically, accelerating impact with greater speed and with greater scale. By consolidating our sustainability efforts, we are laying a more formidable foundation for realising our Net Zero ambition.Several accolades this year reaffirmed our leadership. Grasim was featured in the S&amp;P Global Sustainability Yearbook 2024 and honoured as ‘Master of Risks – Conglomerate’ by India Risk Management. It also received Hurun India’s Sustainable Manufacturing Leadership Award. &nbsp;<h3>Coming to the journey beyond Business of giving back to society</h3>Our commitment to nation-building extends far beyond just business metrics. Guided by the philosophy of being A Force for Good, we continue to uplift lives and foster inclusive development.Under the leadership of Mrs. Rajashree Birla, Director of your company and Chairperson of the Aditya Birla Centre for Community Initiatives and Rural Development, our CSR programmes have touched over 12 lakh lives across 300+ villages this year. With an investment of Rs.88.42 crore in FY 2024–25, we continue to support healthcare, education, livelihoods, and infrastructure. We are honoured to have been recognised as the Economic Times Conscious Corporate 2024, widely regarded as the Oscars of corporate India. &nbsp;<h3>Now on Dividend</h3>The Board has approved a dividend of ₹10 per share, marking more than 62 consecutive years of uninterrupted dividend payments. This enduring track record reflects our financial strength, disciplined capital allocation, and deep commitment to creating long-term shareholder value, through all business cycles. &nbsp;<h3>Coming to Capital Expenditure our relentless Force for Growth</h3>Between FY20 and FY25, we have invested over Rs. 67,000 crore in capital expenditure, of which Rs. 51,000 crore was directed towards growth. These investments span our core sectors, strategic adjacencies, digital innovation, and sustainability-linked projects, reinforcing our leadership and building resilience for the future. &nbsp;<h3>To conclude</h3>I have long believed that the stronger we grow, the greater the difference we can make. Growth, for Grasim, is not an end in itself. It is a force multiplier, expanding the horizon of what we can achieve and number of people we can impact.Your belief in our purpose and your partnership in our progress have been our greatest strength. It inspires us to continue building a company that is committed to delivering better outcomes for all its stakeholders.On behalf of the Board, I extend our deepest gratitude.Thank you.

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Chairman, Mr. Kumar Mangalam Birla’s speech at 78th AGM of Grasim Industries Limited

Speeches

Sandeep Kumar of Chandigarh is proving that one person’s initiative can rewrite the futures of thousands of children. Over the last eight years, he has collected more than 1.5 lakh books from people’s homes and ensured they reach children in need.&nbsp;<div class="video-responsive"><iframe src="https://www.youtube.com/embed/yFYHxqtqpWg?si=0FSIvNjfH3Tr5RDq&amp;" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen=""></iframe></div>&nbsp;The journey began while teaching in a village in Haryana, where Sandeep noticed bright students struggling to take notes or complete homework—not for lack of ability, but because their families couldn’t afford books. “Papa doesn’t buy us books, so how can we write?” the children told him. Visiting their homes, Sandeep saw families struggling to afford even two meals a day. He knew he had to act.With limited funds and many initial setbacks, including rejection by his own family, Sandeep started turning old books, files, and registers into new notebooks for underprivileged kids: Raddi se Shiksha (Education from Scrap Paper). Riding borrowed cycles and scooters, he went door to door, collecting used books and stationery with a smile. To sustain the mission, he campaigned in colleges and took on part-time jobs.Today, his efforts have expanded into six public libraries, two mobile libraries, and even earned a mention on Mann Ki Baat, Prime Minister Shri Narendra Modi’s monthly radio programme. “The books that helped you achieve your dreams often end up being sold as scrap. Donate them instead, and you can help underprivileged children achieve theirs,” says Sandeep.Aditya Birla Group is proud to collaborate with The Better India to amplify stories like Sandeep’s, celebrating individuals who act as #<a href="/our-story/a-force-for-good/">AForceForGood</a>.

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Turning Waste into Education: Chandigarh’s Book Samaritan

Hindalco Industries Limited is the metals flagship company of Aditya Birla Group. It is one of Asia’s largest producers of primary aluminium (excluding China), and with its subsidiary Novelis, a global leader in flat rolled products and the world’s largest recycler of aluminium.In India, Hindalco is the largest aluminium downstream player providing customised solutions in flat rolled products and extruded aluminium solutions.Hindalco is India’s largest copper producer, contributing significantly to India’s domestic refined copper requirements. Its copper facility in India comprises a world-class copper smelter, downstream facilities, and a captive jetty.Hindalco operates across the value chain, from bauxite mining, alumina refining, coal mining, captive power plants, and aluminium smelting to downstream rolling, extrusions, and foils. It serves key sectors such as aerospace and defence, building and construction, electricals, and electronics, automotive and transport, beverage packaging, consumer durables and kitchenware, pharmaceuticals and food packaging, EV and renewables, refractories, and ceramics.Hindalco’s global footprint spans 52 manufacturing units across 10 countries (20 plants in India, and 32 overseas units). Hindalco also operates 23 mines. With a cross-cultural workforce of more than 68,500 people, it remains committed to building an agile, responsive, and productive work environment in line with our strategic priorities of value enhancing growth and strong ESG commitment. &nbsp;<h3>Products</h3>Aluminium<ul><li>Primary aluminium</li><li>Aluminium value added.</li><li>Flat Rolled Products (FRP)</li><li>Extrusions</li><li>Foils and packaging solutions</li><li>Metallurgical alumina &nbsp;</li></ul>Copper<ul><li>Cathodes</li><li>Continuous Cast Rods (CCR)</li><li>Gold and silver</li><li>By-products</li><li>Di-Ammonium Phosphate (DAP)</li><li>Sulphuric acid &nbsp;</li></ul>Chemicals<ul><li>Calcined alumina</li><li>Alumina hydrate</li><li>Sustainability</li></ul> Guided by its purpose of building a Greener, Stronger, Smarter world, Hindalco has made sustainability the backbone of its operations and strategy. Some key initiatives include global-first circular economy solutions that utilise bauxite residue as an industry input rather than waste and pioneering responsible mining through developing India’s first Sustainable Mining Charter. Initiatives for carbon neutrality, water positivity, biodiversity, and zero waste to landfill have contributed to Hindalco being recognised as the world’s most sustainable aluminium company by the Dow Jones Sustainability Indices in 2020 and 2021.&nbsp; Hindalco drives R&amp;D in aluminium solutions because these can play a big role in delivering climate action and sustainable decarbonisation for the nation. We innovated India’s first aluminium trailer, bulker, and bus which can save up to 300 tonnes of carbon per vehicle over their lifetime. We are building new-age rail and transport solutions for freight and passenger transport. We are creating an Aluminium-Air battery that does not require a charging infrastructure.Mr. Satish Pai is the Managing Director of Hindalco Industries Limited.

Dear Fellow Shareholders,Each year, I address you with the momentum of <a href="/businesses/companies/hindalco-industries-limited/">Hindalco’s</a> progress. This year, I want to speak not only about performance, but about a defining idea—one that reflects our deepest convictions and ambitions. At Hindalco, we call it being a Force for Sustainable Solutions—a philosophy that informs how we operate, innovate, and lead in a world that demands more from business than ever before.Let me explain. At its heart, engineering sustainable solutions is about creating a better tomorrow while delivering value today. It is about finding solutions where productivity and sustainability work together, where innovation is both transformative and practical, and where every action carries the discipline to delight customers today while safeguarding the future for generations to come.You can see this vision in action in our recycling plants, where yesterday’s aluminium becomes today’s automotive parts or tomorrow’s kitchenware, using only a fraction of the energy. You can also see it in our downstream plants where metal is precision-engineered to serve new-age industries such as EV mobility and energy storage. And you can see it in the way we consistently steward resources. Hindalco is a metals maker that is also restoring biodiversity ecosystems, conserving water, and repurposing waste to reduce landfill. These are just a few examples of what it means to be a Force for Sustainable Solutions. This is how we help Engineer Better Futures. &nbsp;<h3>Let me now talk about the broader macroeconomic context for Hindalco</h3>The global economy expanded by 3.3 percent in 2024, slightly below 3.5 percent in 2023, according to the IMF. Several structural and external factors continued to affect global output. These included geopolitical tensions, trade conflicts, slower productivity, and high public debt levels. Despite these challenges, inflation declined from 6.6 percent in 2023 to 5.7 percent in 2024, helped by easing supply constraints and tighter monetary policy.Global growth is projected to moderate to 3.0 percent in 2025 and edge up to 3.1 percent in 2026. Advanced economies are expected to face slowing growth, from 1.8 percent in 2024 to 1.5 percent in 2025. While declining inflation and monetary easing offer some support, risks remain from geopolitical uncertainty, higher borrowing costs, and fiscal pressures. &nbsp;<h3>Let me explain why India’s growth story is different.</h3>In 2024-25, India recorded GDP growth of 6.5 percent, remaining the fastest-growing major economy in the world. The last quarter of FY25 saw growth of 7.4 percent, led by construction and manufacturing. <a href="/sustainability/">business and sustainable development</a> This was driven by macroeconomic stability, government capital expenditure, and stronger private demand.Headline inflation averaged 4.6 percent in 2024-25, down from 5.4 percent in 2023-24. In response to easing inflation, the Monetary Policy Committee has lowered the repo rate by 100 basis points in 2025, bringing it down to 5.50 percent.India's GDP is expected to grow at 6.5 percent in 2025-26. Growth is likely to be supported by continued government investment, recovery in consumption, and prudent fiscal management. The manufacturing sector is expected to strengthen further due to domestic demand, better capacity utilisation, and policy support through the Production Linked Incentive (PLI) scheme.The momentum across transport, railways, energy, and construction is fuelling demand for customised metal solutions. For Hindalco, this is the blueprint of nation-building in real time, where aluminium and copper form the backbone of infrastructure, mobility, and clean energy. India’s aluminium consumption, already at 5.5 million tonnes in FY25, is poised to double over the next decade, signalling unprecedented growth opportunities ahead. Copper demand is growing at an accelerating pace, powered by urbanization, digitalization, clean energy adoption, and electric vehicles.We see opportunities all around us. Today, your company is among the top global players in the aluminium, copper, and speciality alumina business.Hindalco's 50 manufacturing facilities, spread across 10 countries produce a wide range of high-quality products that support many industries and help drive the global economy. We are the world’s second-largest producer of copper rods and among the top three global players in speciality alumina.Building on this strong foundation, we have embarked on an ambitious growth journey backed by committed global investments of $10 billion over the next five years. These investments span the full value chain across aluminium, copper, and speciality alumina, both within our Indian operations and through <a href="/businesses/companies/novelis-inc/">Novelis</a> globally. In FY2024-25 alone, we have initiated projects worth ₹18,000 crore in India operations — the highest annual capex in almost a decade. &nbsp; Your Company’s strategy is to strengthen both its upstream and downstream businesses, with the next phase focused on accelerated upstream expansion alongside continued downstream growth. In India, we are doubling down on upstream capacities through substantial investments in aluminium and copper smelting. Hindalco is expanding its aluminium smelter at Aditya by 180,000-tonnes-per-annum and planning a further 360,000-tonne expansion at Mahan. In addition, we are also investing in a greenfield 850,000-tonne alumina refinery. Besides, your company's resource security has been further strengthened with the allocation of the 12-million-tonne Meenakshi coal mine. This will enhance energy self-sufficiency and reinforce Hindalco’s position as the world’s lowest-cost aluminium producer by reducing reliance on auction and linkage coal.In copper, a 300,000-tonne smelter expansion is underway at Dahej, which, once completed, will make it the largest copper smelting complex in the world, outside China.&nbsp; On the downstream front, your Company is enhancing its portfolio of value-added products in aluminium, copper, specialty alumina, and recycling, with a clear target to quadruple downstream EBITDA by FY30 from the FY24 base. Our new copper tubes plant is ramping up, and construction is in full swing for India’s first and the world’s second-largest dedicated e-waste and copper recycling facility at Pakhajan.At Novelis, our US$4.1 billion Bay Minette project is progressing as planned, with commissioning expected in the second half of calendar year 2026. This will mark a pivotal milestone in our strategic growth journey. Another key achievement was the successful launch of a state-of-the-art automotive recycling center in Guthrie, Kentucky, strategically located adjacent to our existing finishing plant. Upon completion of all ongoing expansion initiatives including Bay Minette, we anticipate Novelis’ total production capacity to reach approximately 5 million tons per annum.Novelis is also advancing its 3x30 Vision—aimed at increasing recycled content from 63% to 75%, cutting the carbon footprint of aluminium rolled products from 4 to 3 tonnes of CO₂ per tonne, and sustaining industry-leading Return on Invested Capital through a resilient balance sheet, robust cash flows, and consistent shareholder value creation.Our strategic expansions will further enhance our ability to collaborate with customers, co-create high precision, engineered solutions, and deliver products that will shape the future of industries. In line with this vision, we launched our Masterbrand this year to deepen customer engagement and reinforce Hindalco’s role as a catalyst for change, a problem-solver, and a co-creator of transformative solutions.In electric mobility, our world-class facility is producing aluminium battery enclosures that make vehicles lighter, safer, and more energy efficient. We are also preparing to introduce aluminium cycle and e-cycle components to global markets, bringing the same advantages of lightness, strength, and sustainability to personal mobility.This year, our new battery foil plant will commence operations, powering the next wave of energy storage for e-mobility and renewables. At the same time, our expanded flat rolled products capacity has began commissioning, which will further open up opportunities in premium, high-growth markets. These advances reflect a deeper transformation in how we partner, innovate and lead. In fact, the Masterbrand, in many ways, embodies our commitment to engineering Better Futures. &nbsp;<h3>Let me now turn to your Company’s performance in FY25</h3>FY25 was a landmark year for Hindalco, with all-time high performance driven by operational resilience, cost discipline, and strong momentum across businesses.In FY25, consolidated EBITDA rose to ₹35,496 crore, a 38% jump over the last fiscal year. This outstanding performance was driven by lower input costs, higher volumes, and stronger margins across the board. The India Aluminium Upstream segment continued to anchor results, while the downstream business delivered robust growth. Our India Aluminium Upstream business EBITDA margins continued to be among the best in the industry globally. The Copper business delivered a record performance in FY25, achieving its all-time high EBITDA of ₹3,025 crore, a robust 16% increase over the previous Fiscal. For the first time, your Company’s copper revenue crossed the ₹ 54,000 crore milestone, while retaining the distinction of becoming the second-largest copper rod producer in the world, outside of China. In Specialty Alumina, we are scaling up with differentiated, high-value offerings. The business delivered exceptional results with an EBITDA of Rs 835, up 46 % YoY. In a strategic move to strengthen our high-value, technology-led materials portfolio, the business is set to acquire 100% equity stake in US-based AluChem Companies, Inc, subject to statutory approvals. &nbsp;Novelis, meanwhile, continues to strengthen its position as a global leader in aluminium beverage packaging and automotive solutions, driven by its <a href="/en/media/stories/20-years-of-innovation-sustainability-and-leadership-in-the-aluminium-industry.html">commitment to sustainability</a>. In FY25, Novelis reported net sales of $17.2 billion and adjusted EBITDA of $1.8 billion, underscoring its robust financial performance and operational excellence. The company’s adjusted EBITDA per tonne stood at $491, reflecting strong margins and disciplined execution. &nbsp;<h3>Moving to the dividend recommendation</h3>For the fiscal year 2024-25, the Board of Directors has recommended a dividend of ₹5 per equity share. This is in line with our dividend policy and reflects the need to plough back capital into strategic growth projects for long-term value creation. &nbsp;<h3>Let me briefly touch upon the performance in Q1 FY26</h3>Hindalco began the fiscal year on a strong note. Consolidated EBITDA for the first quarter stood at ₹8,673 crore, up 9% year-on-year basis. Consolidated net profit grew 30% year-on-year to ₹4,004 crore, with revenue up 13% to ₹64,232 crore. This was driven by solid performance across businesses, supported by cost discipline and operational excellence.Our India aluminium business delivered industry-leading margins. Downstream aluminium posted its best-ever quarterly performance. The copper business remained steady, and Novelis shipments grew despite global challenges. Our balance sheet remains strong with Net Debt to EBITDA at 1.02 times, giving us the capacity to fund our growth ambitions.<h3> Sustainability — the core of our transformation</h3>Sustainability remains a cornerstone of Hindalco’s transformation. We are advancing green initiatives with projects such as India’s first e-waste recycling facility at Birla Copper, and a pioneering 100 MW hybrid renewable energy project at our Aditya Aluminium smelter in Odisha. Integrating solar, wind, and storage, it is among the first in the <a href="/media/stories/aluminium-takes-the-wheel-towards-greener-mobility/">global aluminium industry</a> to deliver stable, round-the-clock, carbon-free power for smelting.Our inclusive approach to ESG embraces committed efforts to preserve biodiversity, ensure water positivity, achieve zero waste to landfill and ultimately realise our ambition of net-zero emissions.Driven by our unwavering commitment to sustainability, your company has been recognised as the <a href="/media/stories/hindalcos-brand-refresh-shift-for-future-first-solution-driven-identity/">World’s Most Sustainable Aluminium Company</a> for the fifth year in a row in the 2024 S&amp;P Global Corporate Sustainability Assessment rankings. &nbsp;We also take pride in being the only aluminium company to hold the top position in the S&amp;P Global CSA, a testament to our responsible business practices and long-term vision.Across our operations, we are scaling energy-efficient production, reducing waste, and designing eco-friendly materials that align with India’s ambitious net-zero goals. We have eliminated single-use plastic across 21 sites, repurposed waste streams such as Spent Pot Lining, red mud and fly ash for industrial use and upcycled 85% of all waste generated. Novelis has recycled over 2 million tonnes of aluminium scrap this year, proving that circularity at scale is possible.From renewable-powered smelters to sustainable mining, from water positivity to biodiversity restoration, we are showing what “sustainable metal in action” truly means — world-class expertise and green energy coming together to enable circularity and decarbonisation. &nbsp;<h3>Partnering India in building Viksit Bharat</h3>Hindalco’s transformational journey is deeply intertwined with India’s vision of Viksit Bharat. Our metals, advanced alloys, and innovative industrial solutions form the backbone of the country’s manufacturing and industrial progress. &nbsp;By harnessing integrated advanced industrial capabilities and driving innovation through cutting-edge research, your Company is committed to serving the evolving needs of India’s manufacturing sector, while fostering a greener and more resilient economy for the future.At Hindalco, our commitment to Engineering better futures ensures that every tonne of aluminium and copper we produce carries not just economic value, but national purpose. As new sectors emerge and industries transform, we will continue to develop advanced materials and solutions that open new possibilities, enable sustainable practices, and strengthen the nation’s growth engines. I am confident that our innovative, future-ready solutions will help drive India’s growth while accelerating the adoption of green technologies and securing a sustainable future for generations to come.This is our commitment. This is Hindalco — Engineering Better Futures. Thank you very much for your continued support.

Speech of Mr. Kumar Mangalam Birla at Hindalco Industries’ Annual General Meeting

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The growth story that mirrors an independent India’s journey

UltraTech Cement Limited is the cement flagship company of Aditya Birla Group. A USD 8.9 billion company, UltraTech is the largest manufacturer of grey cement, ready-mix concrete (RMC) and white cement in India. In 2025, UltraTech extended its footprint in the construction value chain, through wires and cables segment with a planned capital expenditure of ~ INR 1,800 crore over the next 2 years.UltraTech is the third largest cement company in the world, excluding China, with a consolidated production capacity of 192.26 Million Tonnes Per Annum (MTPA) of grey cement. UltraTech is the only cement company globally (outside of China) to have 175+ MTPA of cement manufacturing capacity in a single country. The Company’s business operations span UAE, Bahrain, Sri Lanka and India.UltraTech’s manufacturing footprint comprises of 24 integrated manufacturing units, one Clinkerisation unit, 33 grinding units and 8 bulk packaging terminals. With 316 Ready Mix Concrete (RMC) plants in 139 cities, UltraTech is the largest manufacturer of concrete in India. It has a slew of speciality concretes that meet specific needs of discerning customers.&nbsp;UltraTech has 34 integrated manufacturing units, 34 grinding units, one Clinkerisation unit and 9 Bulk Packaging Terminals. UltraTech has a network of over 1.4 lakh channel partners across the country and has a market reach of more than 80% across India. In the white cement segment, UltraTech goes to market under the brand name of Birla White. It has two White Cement units and three Wall Care putty units, with a current capacity of 2.6 MTPA. With 395 Ready Mix Concrete (RMC) plants in 155 cities, UltraTech is the largest manufacturer of concrete in India.UltraTech is also a founding member of Global Cement and Concrete Association (GCCA). It is a signatory to the GCCA Climate Ambition 2050 and has committed to the Net Zero Concrete Roadmap announced by GCCA. UltraTech is focused on accelerating the decarbonisation of its operations, and is the first company in India and the second company in Asia to issue dollar-based sustainability linked bonds. UltraTech works to actively contribute to the social and economic development of the communities in which it operates in. The Company’s social initiatives focus on education, healthcare, sustainable livelihoods, community infrastructure and social causes.

<a href="/businesses/companies/ultratech-cement-limited/">UltraTech Cement</a> is firmly on track to cross 200 MTPA capacity in FY26 - a full year ahead of the original FY27 goal.Aditya Birla Group’s foundational philosophy is rooted in the belief that business has the potential to be a force for good. This philosophy has guided us across generations, businesses, and market cycles. At its core lies a commitment to value creation for all stakeholders - shareholders, partners, employees, and the community at large. Your Company, as a flagship of this Group, embodies this philosophy in both spirit and action.This year, as we gather to reflect on the progress of your Company, we do so under a powerful and enduring theme, ‘A Force for Nation Building’. <a target="_blank" rel="noopener noreferrer" href="https://www.adityabirla.com/media/stories/becoming-indias-number-one-cement-manufacturer-the-ultratech-story/">innovation in cement industry </a>It is a theme that resonates deeply with your Company’s values and long-term vision. It defines the very essence of who we are, what we stand for, and the future we seek to build. Our vision is closely aligned with India’s aspirations for 2047 - the centenary of our nation’s independence. Our efforts converge towards a singular and purposeful goal, to build a strong, self-reliant, prosperous, and globally competitive India.We do not merely produce cement. We enable the highways that connect cities and communities, the homes that nurture families, the bridges that accelerate commerce, and the infrastructure that powers growth. Our contribution to nation building transcends physical construction - it is embedded in a deeper belief. A belief in the transformative power of infrastructure to ignite aspirations, elevate lives, and empower communities to thrive.<a target="_blank" rel="noopener noreferrer" href="https://www.adityabirla.com/businesses/sectors/cement/"> leading cement companies in India</a> We believe what we do enables us to champion growth that is inclusive, sustainable, and enduring. And that’s true nation building in action.&nbsp; &nbsp;<h3>Let me briefly touch upon the broader macro-economic context in which your Company is operating.</h3>The global economy expanded by 3.3 percent in 2024, slightly below 3.5 percent in 2023, according to the IMF. The United States recorded 2.8 percent GDP growth, supported by consumption, public spending, investment, and exports. In contrast, growth in several Asian and European economies slowed. China’s recovery remained subdued, with weak consumption and a struggling property sector.Several structural and external factors continued to affect global output. These included geopolitical tensions, trade conflicts, slower productivity, and high public debt levels. Despite these challenges, inflation declined from 6.6 percent in 2023 to 5.7 percent in 2024, helped by easing supply constraints and tighter monetary policy.Global growth is projected to moderate to 3.0 percent in 2025 and edge up to 3.1 percent in 2026. Advanced economies are expected to face slowing growth, from 1.8 percent in 2024 to 1.5 percent in 2025. While declining inflation and monetary easing offer some support, risks remain from geopolitical uncertainty, higher borrowing costs, and fiscal pressures.<h3> Moving to India.</h3>In 2024-25, India recorded GDP growth of 6.5 percent, remaining the fastest-growing major economy. The last quarter saw growth of 7.4 percent, led by construction and manufacturing. This was driven by macroeconomic stability, government capital expenditure, and stronger private demand. Agriculture recovered, supported by good weather and water storage.Headline inflation averaged 4.6 percent in 2024-25, down from 5.4 percent in 2023-24. The decline reflected lower input costs, supply-side measures, and past monetary tightening. In response to easing inflation, the Monetary Policy Committee has lowered the repo rate by 100 basis points in 2025, bringing it down to 5.50 percent.The financial sector remained stable, with improved asset quality and strong credit growth. Bond yields for both government and corporate debt declined, reflecting easing domestic financial conditions.India's GDP is expected to grow at 6.5 percent in 2025-26. Growth is likely to be supported by continued government investment, recovery in consumption, and prudent fiscal management. The manufacturing sector is expected to strengthen further due to domestic demand, better capacity utilisation, and policy support through the Production Linked Incentive (PLI) scheme and the National Manufacturing Mission.The construction sector is also poised for robust performance, aided by increased focus on infrastructure projects through Gati Shakti, higher allocation for affordable housing schemes, and Asset Monetisation Plan aimed to unlock infrastructure funds.Despite risks from global market volatility, geopolitical developments, and fragmented trade relations, India’s strong fundamentals, resilient financial system, and policy focus on long-term stability, position it well to sustain growth. The country is expected to retain its position as the fastest-growing major economy in 2025-26.&nbsp; &nbsp;<h3>Moving on to your Company’s performance.</h3>Amid this macroeconomic landscape, your Company delivered a robust performance in FY25. Net revenue stood at Rs. 75,955 crore (~USD 8.9 billion), and EBITDA at Rs. 13,302 crore (~USD 1.6 billion). Sales volumes reached 135.83 million tonnes, reflecting a year-on-year growth of over 14%.Your Company added 42.6 MTPA of capacity during the year, with 16.3 MTPA through organic expansion, and 26.3 MTPA through strategic acquisitions, notably India Cements and Kesoram Industries. With this, the total consolidated capacity as of March 2025 stood at 188.8 MTPA. With nearly 70% of capital expenditure focused on growth, your Company is firmly on track to cross 200 MTPA capacity in FY26 - a full year ahead of the original FY27 goal. This acceleration places us on an even stronger and more sustained growth trajectory for the years ahead. I am happy to share that UltraTech is now well and truly poised to become the largest cement selling company in the world, outside of China.Your Company now operates 34 integrated units, 30 grinding units, and 9 bulk terminals in India. With a channel partner network of over 145 thousand, we cover more than 80% of India’s geography. This scale and presence uniquely position us to serve the country’s growing demand across urban centres and rural landscapes, from highways and metro projects to housing, industrial zones, and last-mile rural roads.<h3> Q1 FY26 Performance</h3>Let me now briefly touch upon your Company’s performance in Q1FY26. Your Company has started FY26 on a strong note. Consolidated net revenue in Q1 stood at Rs. 21,275 crore, compared to Rs. 18,819 crore in the same period last year. EBITDA rose 44% year-on-year to Rs. 4,591 crore. Profit after tax jumped 49% to Rs. 2,226 crore. Additionally, your Company added 3.5 MTPA of grey cement capacity in the first quarter, bringing total capacity to 192.26 MTPA.<h3> Dividend</h3>In recognition of your Company’s strong performance - the Board of Directors has proposed a dividend of Rs.77.50/- per equity share of Rs.10/- per share, totalling Rs. 2,283.75 crore. The dividend shall be taxed in the hands of shareholders at applicable rates of tax and your Company shall withhold tax at source appropriately.<h3> Over to Sustainability</h3>At your Company, we believe that sustainability is our differentiator. Alongside performance and scale, it defines our strategy, our innovation, and our responsibility to future generations.In FY25, we achieved a cumulative installed capacity of 1 GW of renewable energy for captive use, becoming one of the first companies in India, in the industrial category, to do this. During the period, our installed green energy capacity rose to 1,371 MW, which can cater to 46% of our current electricity requirements.As a signatory to the GCCA 2050 Net Zero Roadmap, your Company has committed to reducing Scope 1 CO₂ emissions by 27% by 2032 (from a 2017 baseline). In FY25, we have already reduced net emissions to 549 kg per tonne, down from 632 kg in 2017. We are also working closely with the Government of India on Carbon Capture, Utilisation and Storage (CCUS) technologies, to support decarbonisation in the Indian cement industry.In terms of water stewardship, your Company is 4.9 times water positive - reusing, recycling, harvesting, and recharging over 120 million cubic meters of water in FY25. We are also advancing biodiversity protection, with 92% of integrated units implementing Biodiversity Management Plans aligned with our goal of ‘No Net Loss’ by 2050.On the circular economy front, we achieved a thermal substitution rate of 5.7%. We also utilised over 44 million tonnes of recycled and alternative raw materials in cement production during the year.I don’t see these as just sustainability milestones. To me, they represent a new industrial paradigm built on responsibility, innovation, and resilience.&nbsp; &nbsp;<h3>Responsible and Caring Corporate Citizen</h3>Your Company continues to invest deeply in the development of communities in its areas of operation. Your Company’s CSR activities are implemented under the aegis of the Aditya Birla Centre for Community Initiatives and Rural Development, led by <a href="/media/stories/rajashree-birla-philanthropist-par-excellence/">Mrs. Rajashree Birla</a>, your Director. Our corporate social responsibility approach is bottom-up, shaped by local dialogue, grounded in community needs, and aligned with the UN Sustainable Development Goals.The focus areas of your Company’s CSR initiatives include education, healthcare, sustainable livelihoods, community infrastructure, and social empowerment. In FY25, our initiatives positively impacted over 1.8 million people across 500+ villages in 16 states.Notable achievements include conserving 16.16 million cubic metres of water through community watershed projects, benefiting 36,122 farmers, training 2,316 youths in vocational skills, and improving healthcare access for over 1.5 lakh villagers through mobile units and camps. Your Company supported 698 Anganwadis, partnered with 435 schools, and empowered 3,912 households via 370 Self-Help Groups. Infrastructure projects enhanced the lives of over 5.28 lakh people, with 53 villages achieving model village status. Your Company’s efforts in sanitation, safe drinking water, and child immunisation have led to near-zero child mortality, with 90% of villages in our program areas now declared Open Defecation Free.Whether it is supporting schools, building sanitation facilities, delivering health camps, or empowering women-led enterprises, your Company stands committed to driving inclusive growth and meaningful societal change.<h3> Conclusion</h3>As we reflect on our journey, we do so with gratitude, to our people, our partners, our communities, and to you - our shareholders. You have placed your trust in us year after year, and it is this trust that drives our ambition to do more and do better.Your Company’s journey is defined by both scale and impact. It is about creating value that goes beyond <a href="/media/stories/ultratech-cementing-an-all-round-success-story/">cement best quality</a>- shaping the infrastructure of India and laying the foundations of a stronger, self-reliant, and inclusive Bharat.As we look ahead to FY26 and beyond, Your Company remains committed to being ‘A Force for Good’; a company driven by purpose, powered by performance, and rooted in sustainability.Thank you very much.<a href="/our-story/leadership/mr-kumar-mangalam-birla/">Kumar Mangalam Birla</a>

Chairman, Mr. Kumar Mangalam Birla’s Speech at twenty-fifth Annual General Meeting of UltraTech Cement

Paints is one of the latest sectoral forays of Aditya Birla Group.Birla Opus Paints, housed under Grasim Industries, Aditya Birla Group’s flagship firm, offers decorative painting solutions to consumers in India.Launched in 2024, Birla Opus Paints has a complete portfolio featuring a range of superior products across categories like interiors, exteriors, waterproofing, enamel paints, wood finishes and wallpapers.Birla Opus invested $1.2 billion to set up six strategically located, fully automated, integrated, and global scale manufacturing plants with a total commercial capacity of 1,332 MLPA (million litres per annum) - a quantum leap of 40% addition to the current industry capacity. With six manufacturing plants spread across India, Birla Opus Paints is well positioned to be amongst the market leaders in the decorative paints category.Birla Opus has a current installed capacity of 1,096 MLPA across 5 manufacturing facilities— Panipat (Haryana), Ludhiana (Punjab), Cheyyar (Tamil Nadu), Chamarajanagar (Karnataka), and Mahad (Maharashtra). It’s sixth facility, in Kharagpur (West Bengal), is expected to commence production over the course of FY25. Through these Birla Opus offers the widest range of water-based paints, enamel paints, wood finishes, waterproofing and wallpapers.All 6 manufacturing plants are fully sustainable with zero liquid discharge and equipped with 4th generation manufacturing technology to manage supply chain processes at lightning speed, zero defects and end-to-end traceability.The brand also has a painting services brand, PaintCraft.Mr. Rakshit Hargave is the Chief Executive Officer of Birla Opus Paints.&nbsp;

In early 2024, Grasim Industries committed one of the largest single capital outlays in its history to a business it had never operated before. A ₹10,000 crore investment into decorative paints was announced, aimed at building a new national brand, <a href="/media/press-releases/aditya-birla-group-to-launch-its-paints-business-under-the-brand-name-birla-opus/" target="_blank" rel="noopener noreferrer">Birla Opus Paints</a>. At the time, industry observers described the move as ‘ambitious’; especially in a market long regarded as consolidated and difficult. Yet by March 2025, Birla Opus had emerged among the top three decorative paint brands in India by revenue share. This is as per the FY 2024-25 exit run-rate and internal estimates of the company.The foundation for this rapid entry was laid years earlier. Planning began more than three years before launch, with manufacturing capacity, supply lines, and distribution designed to operate at full national scale from day one. By the end of FY25, five greenfield plants—at Panipat, Ludhiana, Cheyyar, Chamarajanagar, and Mysore—were operational, delivering a consolidated 1,096 million litres per annum capacity. A sixth plant at Kharagpur is scheduled to begin production in FY26, bringing total capacity to 1,332 MLPA. Once completed,<a href="/businesses/companies/birla-opus-paints/"> Birla Opus </a>will become the second largest player by installed capacity.Plant locations were mapped against demand centres to reduce delivery times and transport costs. By the end of FY25, each site was positioned to serve key consumption corridors efficiently. Supporting these facilities is a distribution system of <a target="_blank" rel="noopener noreferrer" href="https://economictimes.indiatimes.com/industry/cons-products/paints/birla-opus-becomes-third-largest-player-by-revenue-in-six-months-of-pan-india-operations/articleshow/122841100.cms?utm_source=chatgpt.com">137 depots</a>, enabling service to more than 6,600 towns, an infrastructure footprint rarely achieved in such a compressed time frame.Birla Opus’ public introduction was built as much around experience as supply. In March 2025, the company launched its first flagship <a href="/media/press-releases/birla-opus-paints-launches-first-of-its-kind-paint-studio-a-destination-for-all-your-painting-needs/">paint studio in Gurugram</a>. Designed to engage homeowners, architects, and designers, the studio showcases finishes, textures, and colours in an interactive format. More such studios are being rolled out in metro cities, complemented by smaller-format outlets and franchise galleries in semi-urban and rural areas.Meanwhile, in August 2026, emboldened by the product quality, the brand launched Birla Opus Assurance’. This initiative, a first-of-its-kind assurance in the Indian paint industry commits to redo the painting service completely free of charge under its one-year re-painting warranty. <a href="/businesses/sectors/paints/">Fastest growing decorative paint brand</a> It has been thoughtfully designed to cover all possible weather conditions, ensuring that the walls have withstood and been tested across all four seasons.Remarkably, Birla Opus has been <a href="/media/stories/birla-opus-adding-colour-to-your-life/">expanding Indian paints sector</a> during a period when industry demand has been muted. Several industry reports highlighted FY25 as one of the most subdued years in two decades for decorative paint volumes. Yet Birla Opus continued to grow, supported by structured dealer incentives and the rapid rollout of tinting machines. By FY25, the brand had already onboarded close to 50,000 dealers, giving it shelf presence across much of the country. Overall, the decorative paint business hinges on a strong distribution strategy. The wider and deeper the presence, the better it is for any brand. Birla Opus could leverage the wide penetration and distribution network of <a href="/businesses/sectors/cement/">UltraTech Cement</a> – the building solutions flagship of Aditya Birla Group.The brand’s product portfolio reflects a comprehensive approach. As on March 2025, it offered 176 products across over 1,200 SKUs, covering all six decorative categories and multiple price points. This range positions Birla Opus to serve customers from mass-market emulsions to premium finishes.The manufacturing network itself has been built to modern standards. Each plant operates on Industry 4.0 principles, with automated systems for colour consistency, solvent balancing, and production efficiency. Environmental sustainability is embedded into the design: all plants are equipped with zero-liquid discharge systems, recycling roughly 24,000 kilolitres of water annually back into production.Financial targets have been equally ambitious. In its Q4 FY25 earnings call, Grasim, the holding company for Birla Opus, reaffirmed its revenue goal of ₹10,000 crore within three years of full-scale operations for Birla Opus. With capacity already in place, expanding distribution, and growing brand visibility, the trajectory remains consistent with these ambitions.Looking ahead, the opportunities are structural. India’s per capita paint consumption is just above 3 kilograms, well below the global average of roughly 10 kilograms. Rising incomes, urban housing growth, and home renovation trends suggest demand will continue to grow through the next decade.The entry of Birla Opus has demonstrated how a legacy conglomerate can move with the urgency of a start-up. By building capacity, distribution, and brand presence simultaneously, <a href="/our-story/group-purpose/">Aditya Birla Group</a> has shown that even in mature markets, a new entrant can establish meaningful scale within a single year.Whether this momentum will hold over the medium term is a question only the market can answer. But what is evident is that Birla Opus’ rise has altered perceptions of what is possible in India’s consumer manufacturing landscape. In the process, it has created a new template for brands to approach entrenched sectors: with capital strength, logistical precision, and a clear narrative designed to capture both market share and consumer imagination.

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Inside Birla Opus’ rapid rise in the list of India’s top decorative paint brands