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Grindwell Norton Limited GRINDWELL NSEINFRA

Industrials · Building Products & Equipment · India
https://www.grindwellnorton.co.in
Company Profile ↓
₹1,873.10
+26.91% 1Y
Mkt Cap₹20,738.96 Cr
P/E47.54
P/B8.70
Div. Yield0.95%
52W High₹2,382.30
52W Low₹1,340.38
Book Value₹228.93
EPS (TTM)₹39.40

Company Overview

Grindwell Norton Limited provides abrasives, life sciences, performance plastics, and ceramics solutions in India and internationally. The company operates through the Abrasives, Ceramics & Plastics, Digital Services, and Others segments. It offers abrasives, such as bonded and coated abrasives, thin wheels, superabrasives, non-woven abrasives, construction products, automotive aftermarket, adhesives and sealants, and performance grinding solutions; performance polymer solutions, including engineered components, tape solutions, and life sciences. The company also provides ceramic systems, wear resistance technology, specialty ceramics, energy, iron and steel, foundry, and non-ferrous; silicon carbide solutions comprising metallurgy and crucible applications, abrasives and refractories industry, ceramic foam filters, and applications in advanced materials; and technical textiles and glass fiber technical fabrics for construction, infrastructure, and industrial markets. In addition, it offers plant engineering, system integration, customized automation, utilities and environmental engineering, special purpose machine building, contract manufacturing, and electrical and automation solutions. The company was founded in 1941 and is based in Mumbai, India. Grindwell Norton Limited operates as a subsidiary of Compagnie de Saint-Gobain S.A.

Why Investors Should Care

Strong Return on Equity

Generates a return on equity of 16.4%, reflecting efficient use of shareholder capital.

Healthy Capital Returns

Return on capital employed stands at 21.0%.

Healthy Margins

Operating margin of 16.2% supports profitability.

Positive Free Cash Flow

Generates positive free cash flow, funding growth and shareholder returns internally.

Recent Developments

  • Mar 2026 Revenue of ₹3,060.36 Cr (+9.3% YoY); net profit ₹415.66 Cr.
  • Trailing 12 Months Year-on-year growth — revenue +14.2%, earnings +22.3%.
  • 5-Year Trend Long-term compounding — revenue CAGR 6.6%, profit CAGR 4.7%.

Growth & Price Performance

Compounded Sales Growth

5 Years:6.62%
1 Year:14.20%

Compounded Profit Growth

5 Years:4.72%
1 Year:22.30%

Stock Price Performance

1 Year:+26.91%
6 Months:+14.89%
3 Months:-7.31%
1 Month:-1.19%

Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.

Technical Snapshot Mixed
52-Week Range 51% of range
₹1,340.38 ₹2,382.30
Trend Signals
  • Price vs 50-DMABelow
  • Price vs 200-DMAAbove
  • RSI (14)40.21 · Neutral
Price Performance
1M-1.19%
3M-7.31%
6M+14.89%
1Y+26.91%
Valuation vs Sector

P/E of 47.54 is above the sector median of 25.87 — pricier than peers.

Auto-generated from price history and fundamentals; not investment advice.

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Price Chart

NSE TradingView

Fundamental Growth Charts

Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.

PROS

  • Healthy ROCE of 21.0%.
  • Generates positive free cash flow.
  • In a confirmed uptrend (50-DMA above 200-DMA).

CONS

No notable concerns flagged.

* The pros and cons are auto-generated from financial metrics.

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Valuation

Stock P/E
47.54
Industry PE
25.87
Forward P/E
36.42
PEG Ratio
-
Book Value
₹228.93
Price to Book
8.70
P/S
6.95
EV/EBITDA
35.48
Dividend Yield
0.95%

Growth (CAGR)

Revenue 5Y
6.62%
Profit 5Y
4.72%
Revenue (YoY)
14.20%
Earnings (YoY)
22.30%

Profitability & Returns

ROCE
20.99%
ROE
16.40%
ROA
12.09%
Profit Margin
13.76%
Op Margin
16.24%
Gross Margin
53.39%
EPS (Latest Qtr)
₹10.43
EPS (TTM)
₹39.40

Balance Sheet & Liquidity

Debt/Equity
2.38
Quick Ratio
2.17
Current Ratio
2.81
Debt
₹60.71 Cr
Total Assets
₹3,437.86 Cr
Current Assets
₹2,112.11 Cr
Working Capital
₹1,359.50 Cr

Ownership

Promoter Holding
58.31%
Chg in Prom Hold
-0.01%
FII / Inst Holding
21.94%
Chg in FII Hold
-0.11%

Financial Snapshot

Enterprise Value
₹20,738.96 Cr
Total Revenue (TTM)
₹3,173.03 Cr
EBITDA
₹595.83 Cr
Free Cash Flow
₹423.23 Cr
Operating Cash Flow
₹542.14 Cr
Shares Outstanding
₹11.07 Cr
Gross Margin
53.39%
Payout Ratio
43.10%

Peer comparison

Peer companies in the same sector (Industrials).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 GRINDWELL Grindwell Norton Limited NSEINFRA 1,873.10 47.54 ₹20,738.96 Cr 0.95% 20.99% 16.40% 6.62% 4.72%
2 LT Larsen & Toubro Limited NIFTY50NSEAIINFRA 3,636.00 30.16 ₹5.00 L Cr 1.05% 14.55% 14.72% 16.09% 15.38%
3 ADANIPORTS Adani Ports and Special Economic Zone Limited NIFTY50NSEINFRA 1,748.80 29.85 ₹4.03 L Cr 0.44% 10.97% 13.32% 22.93% 34.11%
4 HAL Hindustan Aeronautics Limited NSEAIDEFENCEINFRAPSU 4,854.40 34.83 ₹3.25 L Cr 0.97% 13.80% 22.21% 7.87% 16.08%
5 BEL Bharat Electronics Limited NIFTY50NSEAIDEFENCEINFRAPSU 371.20 44.19 ₹2.71 L Cr 0.66% 31.88% 25.27% 15.47% 26.64%
6 INDIGO InterGlobe Aviation Limited NSEINFRA 4,641.50 -37.32 ₹1.79 L Cr 0.00% 4.02% -34.31% 15.55% -227.40%
7 BHEL Bharat Heavy Electricals Limited NIFTY_MIDNSEAIINFRAPSU 410.20 58.68 ₹1.43 L Cr 0.31% 6.60% 6.12% 13.49% 35.91%
8 ABB ABB India Limited NSEAIINFRA 6,559.50 89.35 ₹1.39 L Cr 0.44% 28.45% 19.13% 15.41% 17.97%
9 CGPOWER CG Power and Industrial Solutions Limited NSEINFRA 821.00 103.53 ₹1.29 L Cr 0.15% 19.35% 15.13% 21.22% 7.81%
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios

Quarterly Results

Figures in INR.

Metric Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue 665.00 Cr668.00 Cr667.00 Cr660.00 Cr691.00 Cr706.00 Cr--705.90 Cr700.06 Cr775.00 Cr749.83 Cr838.77 Cr800.62 Cr
Cost of Revenue --------326.09 Cr319.40 Cr-353.42 Cr398.39 Cr361.29 Cr
Gross Profit --------379.81 Cr380.65 Cr-396.41 Cr440.39 Cr439.33 Cr
Operating Expenses 536.00 Cr534.00 Cr536.00 Cr532.00 Cr567.00 Cr572.00 Cr--277.38 Cr276.68 Cr634.00 Cr284.48 Cr302.09 Cr308.85 Cr
Operating Income 114.00 Cr118.00 Cr114.00 Cr110.00 Cr105.00 Cr112.00 Cr--102.43 Cr103.98 Cr115.00 Cr111.92 Cr138.30 Cr130.48 Cr
EBITDA 129.00 Cr135.00 Cr131.00 Cr128.00 Cr125.00 Cr133.00 Cr--150.28 Cr153.95 Cr141.00 Cr157.55 Cr185.41 Cr182.03 Cr
Interest Expense 2.00 Cr2.00 Cr2.00 Cr2.00 Cr2.00 Cr2.00 Cr--2.50 Cr2.16 Cr2.00 Cr2.14 Cr1.71 Cr1.38 Cr
Pretax Income 133.00 Cr130.00 Cr135.00 Cr122.00 Cr120.00 Cr125.00 Cr--122.90 Cr125.87 Cr143.00 Cr128.44 Cr157.80 Cr154.13 Cr
Tax Provision 34.58 Cr33.80 Cr32.40 Cr30.50 Cr27.60 Cr32.50 Cr--30.06 Cr31.43 Cr35.75 Cr32.86 Cr38.46 Cr38.81 Cr
Net Income 98.00 Cr97.00 Cr102.00 Cr92.00 Cr93.00 Cr93.00 Cr--92.54 Cr94.45 Cr107.00 Cr95.17 Cr118.74 Cr115.51 Cr
Diluted EPS 8.968.769.208.328.368.41--8.368.539.658.6010.7210.43

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue 1,135.00 Cr1,151.00 Cr1,263.00 Cr1,431.00 Cr1,598.00 Cr1,580.00 Cr1,638.00 Cr-2,525.20 Cr2,668.64 Cr2,798.95 Cr3,060.36 Cr
Cost of Revenue --------1,253.84 Cr1,304.41 Cr1,375.81 Cr1,533.83 Cr
Gross Profit --------1,271.36 Cr1,364.23 Cr1,423.14 Cr1,526.53 Cr
Operating Expenses 954.00 Cr966.00 Cr1,070.00 Cr1,183.00 Cr1,326.00 Cr1,315.00 Cr1,314.00 Cr-819.77 Cr914.09 Cr998.35 Cr1,040.19 Cr
Operating Income 139.00 Cr141.00 Cr151.00 Cr203.00 Cr227.00 Cr207.00 Cr270.00 Cr-451.59 Cr450.14 Cr424.79 Cr486.33 Cr
EBITDA 181.00 Cr184.00 Cr193.00 Cr248.00 Cr272.00 Cr265.00 Cr324.00 Cr-553.84 Cr586.97 Cr593.96 Cr668.65 Cr
Interest Expense 3.00 Cr2.00 Cr2.00 Cr2.00 Cr2.00 Cr4.00 Cr3.00 Cr-7.80 Cr7.76 Cr9.35 Cr8.17 Cr
Pretax Income 154.00 Cr161.00 Cr180.00 Cr227.00 Cr260.00 Cr243.00 Cr317.00 Cr-485.90 Cr508.33 Cr491.96 Cr555.36 Cr
Tax Provision 49.28 Cr54.74 Cr59.40 Cr77.18 Cr91.00 Cr58.32 Cr79.25 Cr-124.37 Cr124.38 Cr120.70 Cr138.57 Cr
Net Income 104.00 Cr106.00 Cr121.00 Cr151.00 Cr169.00 Cr184.00 Cr238.00 Cr-361.90 Cr383.64 Cr368.72 Cr415.66 Cr
Diluted EPS 9.329.5110.7813.5315.1016.4821.60-32.6934.6533.3037.54

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets 940.00 Cr1,089.00 Cr1,210.00 Cr1,339.00 Cr1,445.00 Cr1,592.00 Cr1,862.00 Cr-2,409.90 Cr2,769.62 Cr3,056.79 Cr3,437.86 Cr
Current Assets --------1,378.50 Cr1,573.32 Cr1,801.91 Cr2,112.11 Cr
Cash & Equivalents --------39.61 Cr49.10 Cr71.28 Cr78.66 Cr
Inventory --------463.94 Cr487.61 Cr489.88 Cr481.46 Cr
Receivables --------280.20 Cr357.46 Cr362.43 Cr396.77 Cr
Total Liabilities --------593.01 Cr702.84 Cr787.25 Cr887.92 Cr
Current Liabilities --------497.27 Cr570.35 Cr635.78 Cr752.61 Cr
Long Term Debt --------3.95 Cr6.36 Cr1.01 Cr0
Total Debt 15.00 Cr15.00 Cr8.00 Cr00012.00 Cr-51.36 Cr82.60 Cr83.55 Cr60.71 Cr
Total Equity 616.00 Cr763.00 Cr893.00 Cr990.00 Cr1,098.00 Cr1,187.00 Cr1,364.00 Cr-1,805.81 Cr2,055.27 Cr2,255.50 Cr2,534.75 Cr
Shares Outstanding --------11.07 Cr11.07 Cr11.07 Cr11.07 Cr

Cash Flows (Annual)

Figures in INR.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow 106.00 Cr139.00 Cr170.00 Cr134.00 Cr85.00 Cr318.00 Cr331.00 Cr-392.60 Cr367.94 Cr458.49 Cr542.14 Cr
Investing Cash Flow -30.00 Cr-38.00 Cr-40.00 Cr-41.00 Cr-54.00 Cr-442.00 Cr-230.00 Cr--260.05 Cr-181.68 Cr-212.75 Cr-315.39 Cr
Financing Cash Flow -46.00 Cr-102.00 Cr3.00 Cr-60.00 Cr-68.00 Cr-95.00 Cr-95.00 Cr--140.20 Cr-174.87 Cr-221.25 Cr-215.00 Cr
Capital Expenditure -35.00 Cr-40.00 Cr-53.00 Cr-38.00 Cr-67.00 Cr-50.00 Cr-48.00 Cr--321.56 Cr-172.37 Cr-94.06 Cr-118.91 Cr
Free Cash Flow 71.00 Cr99.00 Cr117.00 Cr96.00 Cr18.00 Cr268.00 Cr283.00 Cr-71.04 Cr195.57 Cr364.43 Cr423.23 Cr
Net Change in Cash 29.00 Cr-0133.00 Cr32.00 Cr-37.00 Cr-220.00 Cr7.00 Cr--7.65 Cr11.39 Cr24.49 Cr11.75 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % --------50.3%51.1%50.8%49.9%
Operating Margin % 12.2%12.3%12.0%14.2%14.2%13.1%16.5%-17.9%16.9%15.2%15.9%
Net Margin % 9.2%9.2%9.6%10.6%10.6%11.6%14.5%-14.3%14.4%13.2%13.6%
ROE % 16.9%13.9%13.5%15.3%15.4%15.5%17.4%-20.0%18.7%16.3%16.4%
ROCE % --------23.6%20.5%17.5%18.1%

Shareholding Pattern

Insiders
58.31%
Institutions
21.94%
Public Float
52.63%

Analyst View

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Latest News

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GRINDWELL — Frequently Asked Questions

What is the current share price of Grindwell Norton Limited (GRINDWELL)?

As of 2026-10-23 04:58 IST, Grindwell Norton Limited (GRINDWELL) trades at ₹1,873.10 on NSE. Its 52-week range is ₹1,340.38 to ₹2,382.30.

What is the market capitalisation of GRINDWELL?

Grindwell Norton Limited (GRINDWELL) has a market capitalisation of ₹20,738.96 Cr on NSE.

What is the P/E ratio of GRINDWELL?

GRINDWELL trades at a trailing price-to-earnings (P/E) ratio of 47.54. The industry average P/E is 25.87. Its price-to-book (P/B) ratio is 8.70.

Does GRINDWELL pay a dividend?

Grindwell Norton Limited (GRINDWELL) currently offers a dividend yield of 0.95%.

What is the return on equity (ROE) of GRINDWELL?

GRINDWELL has a return on equity (ROE) of 16.40%. Its return on capital employed (ROCE) is 20.99%.

Is GRINDWELL a good stock to buy?

This page provides a data-driven analysis of Grindwell Norton Limited (GRINDWELL), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.

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