Sustained demand slowdown in decorative paints
The paint market has been negative excluding Birla Opus, and FY26 may remain a low single-digit growth year, potentially delaying market share and profitability targets.
GRASIM / Q4-FY25 / risks
Keep the risk register visible.
Grasim · Material risks, their source context, and severity in the latest available quarter.
Research layer active
ConCallIQ research layer
Signal, with the source still visible.
Use the controls below to narrow the view, then follow the evidence into the next layer of context.
Risk intelligence
Material risks this quarter
high
VSF profitability pressure from global oversupply
Muted global demand, especially from China, and falling pulp prices have compressed VSF margins; Q4 FY25 EBITDA per kg was an eight-quarter low.
Chlorine oversupply and negative realizations
Negative chlorine realizations persisted at INR 6,000-7,000 per ton for FY25, though management expects improvement as new PVC capacities absorb chlorine.
Tariff uncertainty impacting export opportunities
Global tariff volatility creates uncertainty for chemical exports; management noted a fluid situation with potential upsides and downsides.