Sharekhan's research report on Grasim Industries
Grasim is expected to benefit from stabilizing VSF prices in Q4FY2023 to date post sharp q-o-q correction seen during Q3FY2023 while it continues to focus on leveraging LIVA brand. Caustics soda prices witness q-o-q correction in Q4FY2023 till date post sharp uptick seen in Q3FY2023. Focus to remain on chlorine integration and capacity expansions to improve ECU realisations. It remains to track to set up six units in paints by Q4FY2023 end while it remains committed on becoming second largest player in paints serving premium to basic range of products.
Outlook
We retain a Buy on Grasim with an unchanged PT of Rs. 1900 considering healthy growth outlook for its key subsidiaries and standalone businesses.
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