Grasim boosts renewable energy, reports strong Q2FY26 earnings

Grasim Industries has approved the acquisition of a 26% equity stake in Special Purpose Vehicles (SPVs) for renewable energy projects. These include Pro-Zeal Green Power Eighteen Private Limited for its Vilayat Plant in Gujarat (equity investment up to INR 45.00 crore), an SPV to be formed with Prozeal Green Energy Limited for its Balabhadrapuram Plant in Andhra Pradesh (equity investment up to INR 20.50 crore), and an SPV to be formed with GMR Energy Limited for its Ganjam Plant in Odisha (equity investment up to INR 3.60 crore). These acquisitions aim to meet green energy needs, optimize energy costs, and comply with regulatory requirements.

Grasim Industries reported strong Q2FY26 financial performance with consolidated revenue reaching INR 39,900 crore, up 17% year-on-year, and EBITDA at INR 5,217 crore, up 29% year-on-year. The company's paint plant at Kharagpur commenced commercial production on October 15, 2025, expanding its "Birla Opus" brand capacity to 1,332 million litres per annum across six green-field plants.

Additionally, Rakshit Hargave, chief executive of Birla Opus Paints, has resigned effective December 5, 2025, to pursue other opportunities. Himanshu Kapania, managing director, will oversee the Paints business in the interim.