Input cost inflation in VSF and chemicals
Key inputs like pulp, caustic soda, and sulfur have risen over 10%, and price pass-through has been incomplete, pressuring margins.
GRASIM / Q3-FY25 / risks
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Grasim · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
Chlorine negative realization persisting
Chlorine realization remained negative at INR 7,000-7,500/ton in Q3, and Q4 is expected to be worse, offsetting caustic gains.
Paints market slowdown
The decorative paints market was flat to marginally negative in Q3, and a sustained slowdown could delay Birla Opus's breakeven timeline.
Epoxy margins under pressure from raw material volatility
BPA and ECH prices rose ~13% QoQ, and not all cost increases could be passed on, impacting epoxy margins.