Grasim Industries Limited is the flagship of the Aditya Birla Group. It started as a textiles manufacturer in India in 1947. Today, it is a leading global player in VSF, the largest chemicals (Chlor-Alkali-s), largest cement producer and Diversified Financial Services (NBFC, Asset Management and Life Insurance) player in India. The Aditya Birla Group is a leading global player in VSF, accounting for ~17 per cent of global production. Over the years, the company has strengthened backward integration in Dissolving Grade Pulp, Caustic Soda, Power & Steam — major inputs required for the production of VSF. The Chemical business was set up given it’s a critical input for manufacturing VSF, and to achieve backward integration. In last few years the Caustic Soda business has grown multi-fold through both organic and inorganic routes. Grasim is the largest Caustic Soda producer in India with a capacity of 938 KTPA in FY18.