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)

Venture Capital

Aditya Birla Ventures

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 Today

Aditya Birla Lifestyle Brands Limited (ABFRL) emerged after the consolidation of the apparel businesses of Aditya Birla Group, comprising ABNL's Madura Fashion division and ABNL's subsidiary Madura Lifestyle into Pantaloons Fashion and Retail (PFRL) in 2015.Post-consolidation, PFRL was renamed to Aditya Birla Fashion and Retail Ltd (ABFRL). In 2025, ABFRL underwent a vertical demerger of western wear brands within the Madura Fashion and Lifestyle’s business into a newly incorporated entity named Aditya Birla Lifestyle Brands Limited (ABLBL).ABFRL now includes constituents that operate in several high-growth segments. These are<ol><li>Masstige and value retail chains: Pantaloons and Style Up</li><li>Ethnic wear portfolio: Designer-led brands of Sabyasachi, Shantnu &amp; Nikhil, Tarun Tahiliani, and House of Masaba; and premium wear ethnic brands of TASVA, Jaypore and the recently amalgamated TCNS brands such as W, Aurelia, Wishful, Elleven, and Folksong</li><li>Luxury retail business: The Collective, select mono brands and Galeries Lafayette</li><li>Digital-first portfolio: Technology-led ‘House of D2C Brands’ under its venture, TMRW &nbsp;</li></ol>As of 31 March 2025, ABFRL boasts a vast retail footprint, covering over 7.2 million sq. ft. across India, with a robust network of 1,187 brand stores.

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A decade of shaping India’s fashion landscape with style, strategy and sustainability

Sustainability

Novelis Inc. is a leading sustainable aluminium solutions provider and the world leader in aluminium rolling and recycling. It has an integrated network of rolling and recycling facilities across North America, Europe, Asia, and South America. Novelis supplies premium aluminium sheet and foil products to the beverage can, automotive, aerospace and specialty markets. Its customer base includes iconic brands like Coca-Cola, AB InBev, Ford Motor Company, Jaguar Land Rover, Airbus and Samsung. Novelis’ ambition is to be the world’s leading provider of low carbon, sustainable aluminium solutions that advance its business, industry, and society toward the benefits of a circular economy.Novelis recycles more than 84 billion used beverage cans each year. A can recycled today can be turned back into a new can and returned to store shelves in roughly 60 days. Aluminium is infinitely recyclable. &nbsp;Recycling aluminium requires 95% less energy than primary aluminium production, resulting in 95% less carbon emissions. The company has created the first and the largest closed-loop recycling systems in the world. This allows it to take back as much of its customers’ aluminium scrap as possible, turning it back into the same product again and again. Closing the loop preserves the value of the alloy, reduces recycling and transportation costs, minimises environmental impact and establishes a secure supply chain. &nbsp;<h3>Products</h3><ul><li>Aluminium rolled products and solutions for the beverage can market.</li><li>Automotive and high-end specialty markets; recycling</li><li>Aluminium plate products and solutions for the aerospace market</li></ul>Mr. Steve Fisher is the President and Chief Executive Officer of Novelis Inc.

Novelis, the world leader in aluminium rolling and recycling, is adding lift to flights in innovative ways. This Aditya Birla Group aluminium major is playing a significant role in driving sustainability and innovation across the aerospace supply chain.In 2020, Novelis had expanded its aluminium product portfolio by acquiring Aleris – a major producer of high-end alloys for aerospace. Since then, Novelis has been qualified to meet 90% of today’s flying demand and is the aluminium supplier of choice to leading aircraft manufacturers, including Airbus, Boeing, Bombardier and Embraer.The global aerospace sector is growing rapidly with top aircraft brands Airbus and Boeing predicting more than 40,000 new commercial jets entering the skies over the next two decades alone. However, with an increasing focus on reducing carbon emissions, aerospace companies are prioritising sustainability and transitioning to technologies with lower environmental impact.Aluminium – the ideal material for aircraft<ul><li>High strength-to-weight ratio</li><li>Energy efficient</li><li>High tolerance to extreme temperatures</li><li>Infinitely recyclable&nbsp; &nbsp;</li></ul><h3>Improving the Buy-to-Fly ratio&nbsp;</h3><img class="image_resized image-style-align-left" style="width:35%;" src="https://www.cms.adityabirla.com/uploads/santos_dumont_airport_21cf444f0b.webp" alt="santos-dumont-airport.webp">At the Paris Air Show 2025, Novelis signed a multi-year contract with Brazilian aircraft manufacturer Embraer, expanding the supply of aluminium plates, sheets, and an increasing number of pre-cut shapes used across all its aircraft programs. The growing application of pre-cut shapes improves the overall ‘buy-to-fly’ ratio by reducing raw material needs, minimising waste, and optimising metal utilisation throughout the production process.&nbsp; &nbsp;<blockquote>Buy-to-Fly Ratio = Weight of raw material purchased / Weight of finished part used in the aircraft</blockquote> At the time, Mr. Johan Petry - Vice President, Global Aerospace &amp; Industrial Plate at Novelis, had stated, “Our close partnership with Embraer is built on technical innovation, reliability, and a shared vision for a more sustainable aerospace industry. By expanding our product offering, we are supporting Embraer in manufacturing more efficiently, economically and environmentally. It's a win-win for both companies and for our shared vision to decarbonisation.”&nbsp; &nbsp;<h3>Showcasing innovative solutions for circularity</h3>Another highlight of the world’s premier aerospace exhibition featured the showcase of <a target="_blank" rel="noopener noreferrer" href="https://novelis.com/novelis-showcases-aluminum-lightweighting-solutions-at-paris-air-show/">Novelis’</a> ‘Low Carbon Rib-Demonstrator’ - a prototype structural aircraft component made with up to 90% recycled aluminium input, developed in collaboration with GKN Aerospace. &nbsp;While still in the demonstration phase, initial assessments indicate that this cutting-edge technology may potentially reduce CO₂ emissions by up to 80% versus current production.“At Novelis, we believe that circularity and innovation go hand in hand. Our Low Carbon Rib-Demonstrator shows the potential for recycled materials to fulfil the rigorous demands of aerospace applications, while reducing environmental impact. We are proud to work alongside industry leaders to accelerate the transformation to a more circular aerospace industry,” emphasised Mr. Petry.&nbsp; &nbsp;<h3>Cruising towards greener goals</h3><figure class="image image_resized image-style-side" style="width:35%;"><img src="https://www.cms.adityabirla.com/uploads/passenger_airplane_on_blue_background_b688be301c.webp" alt="passenger-airplane-on-blue-background.webp"></figure>Both the renewed agreement with Embraer and the Low Carbo Rib-Demonstrator showcased at the Paris Air Show 2025 underscore Novelis’ commitment to shaping a more sustainable world together with its stakeholders. The world’s largest recycler of aluminium is aiming to be the leading provider of low carbon, aluminium solutions and to achieve a fully circular economy by partnering with its suppliers and customers.With ambitious sustainability goals that include net carbon neutrality by 2050 or sooner, and reduction of its carbon footprint by 30% by 2026, the sky is not a limit for Novelis.

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Novelis takes a higher flight path at the Paris Air Show 2025

Innovation

Swades was an iconic Bollywood film with a touching story of an NRI returning to his roots to work for the upliftment of his countrymen. Meet the couple who are doing exactly the same thing in real life.Vijaya and Venkat Iyer left their comfortable lives abroad to give back to their homeland. Today, thanks to them, excess food from software companies in Bengaluru that would otherwise be headed to the trash, is used to feed thousands of slum-dwellers in Rajendra Nagar – one of the IT city’s largest slums.&nbsp;<div class="video-responsive"><iframe src="https://www.youtube.com/embed/9rOnfuKWMIE" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen=""></iframe></div>&nbsp;That’s not all they do. Venkat says that their work started with the decision to bring up girl children of mothers who had been deserted by their husbands. In the year 2000, they registered their charitable trust ‘Swabhimaan’ and adopted 15 girl children. This was just the beginning.Through their work, Vijaya and Venkat noticed over 15,000 families living in dire conditions in Rajendra Nagar. They decided to take action. Firstly, by providing the women with Rs. 10,000 each through interest-free micro-lending, with the intent of empowering them to generate income from home. In the 17-18 years since, over 600 women in Rajendra Nagar have benefitted.The couple also started charitable clinics where people could get both consultation and medicines for just Rs. 10 , making healthcare accessible to all. At the same time, they introduced scholarships to address the rise in school dropouts and keep children in classrooms. The results are visible in the community today. Rajendra Nagar is now home to doctors, engineers and chartered accountants, inspiring more parents to prioritise education.“Millions in India are struggling. Each of you have a special skill… if you are a good teacher, please come join us and teach our kids. The important thing is to empower India to become a self-sufficient country and not depend on the support of others forever.”, says the couple. A humble request from the selfless patriots to us all.Aditya Birla Group is happy to partner The Better India to amplify positive stories of people acting as #<a href="/our-story/a-force-for-good/">AForceForGood</a>.&nbsp;

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Bringing hope to the poorest: Bengaluru’s real-life Swades couple

Group Purpose

Aditya Birla Group subsidiary partners with automotive circular economy enterprise The Future is Neutral to create a solution for end-of-life vehiclesAt Aditya Birla Group, sustainability is central to both business and strategy. Novelis, a subsidiary of Hindalco – the Group’s metals flagship – is reflecting its circular economy approach to manufacturing by aiming to achieve at least 95% recycling in its automotive aluminium division. This initiative, in association with automotive circular economy enterprise The Future is Neutral, is aligned with the Group’s sustainable business framework.The partnership focuses on scaling up the production of high-recycled-content automotive aluminium sheet. It focuses on creating a circular economy solution for end-of-life vehicles, aiming for a minimum of 95% recycled content in automotive aluminium, including over 50% from post-consumer scrap. The collaboration aims to revolutionise the automotive industry by integrating more recycled materials into vehicle production. “Collaborations with strong partners are crucial to achieving these goals by retrieving greater volumes and high-quality aluminium scrap from end-of-life vehicles,” says Michael Hahne, Vice President, Commercial, Novelis Europe.<h3> Wealth in Waste</h3>Even as the imperatives of climate action are gaining increasing traction globally, limiting the use of natural resources through innovative solutions has become a critical need for industry. At Aditya Birla Group, we believe that <a href="/media/stories/steering-the-automotive-industry-towards-sustainability/">approach to sustainability</a> world necessitates building sustainable businesses that must operate successfully within the progressively tougher legal standards and tighter resource constraints that will become a reality over time. The way forward is to invest in innovation, adopt cutting-edge technologies, explore new forms of collaboration and develop new business models, which will be consistent with the new economic order – the sustainable world order.Aditya Birla Group businesses are taking proactive measures to fulfil its vision of becoming the <a href="/businesses/">leading Indian conglomerate for sustainable business</a> practices across its global operations. One significant area is the movement towards a circular economy by managing waste for a cleaner, more environment-friendly manufacturing process. By innovating new ways of managing waste, Group companies are converting waste into a resource and moving towards a cleaner process of manufacturing and in turn generating value for the society. More important, this future-proofing strategy helps exponentially increase the sustainability quotient of the Group, while contributing to the climate goals. &nbsp;<h3> Power of Recycling</h3>Even as transitioning to clean energy is vital, another very impactful way to reduce emissions is by recycling more aluminium. Producing aluminium from recycled material requires approximately 95% less energy than making new aluminium, resulting in 95% fewer carbon emissions. This is why circularity is at the heart of the business model. As part of Novelis 3x30 vision to advance aluminium as the material of choice with circular solutions, the sustainability-driven world leader in aluminium rolling and recycling is aiming to achieve 75% recycled content in its products by 2030.Using more recycled aluminium helps reduce demand for energy as well as carbon-intensive primary aluminium, thus ensuring that the infinitely recyclable material remains in circulation. Towards this, Novelis continues to invest in recycling capacity a nd technology, scrap collection networks, and customer partnerships to reclaim and reuse aluminium scrap generated through the processes. &nbsp;<h3>Partners in Progress</h3><a href="/businesses/companies/novelis-inc/">Novelis</a> is a global leader in aluminium recycling and innovative low-carbon aluminium products. The Future is Neutral specialises in the collection, dismantling and sorting of end-of-life materials, including aluminium. The partnership emphasises the circular economy model, aiming to keep valuable materials within the automotive value chain and minimise waste. The goal is to establish a competitive industrial offering of automotive sheet aluminium with high recycled content, specifically targeting the European automotive industry for mass production.Novelis already supplies carmakers with products made from up to 85% <a href="/en/media/stories/20-years-of-innovation-sustainability-and-leadership-in-the-aluminium-industry.html">aluminium recycler</a> for outer skin panels and forming-critical applications in vehicles. Building on this success, this partnership seeks to achieve even higher recycled content, leveraging The Future is Neutral’s expertise in sourcing and segregating end-of-life vehicle scrap. By integrating more recycled content into automotive manufacturing, the partnership aims to significantly reduce the environmental footprint of the automotive industry and promote a more sustainable future.“The automotive industry is increasingly seeking competitive solutions to source low-carbon aluminium. Our goal is to provide them with circular recycled materials sourced from end-of-life vehicles,” says Xavier Kaufman, Chief Business Officer, The Future is Neutral, adding that the partnership with Novelis catalyses its expertise in automotive circularity to serve the mutual purpose, and position both companies at the forefront of the initiative.<h4> Did you know?</h4>Novelis is the leading buyer and recycler of used beverage cans globally – recycling more than 84 billion cans annually.&nbsp;

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Novelis targets 95% recycling for automotive aluminium

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>.