Grindwell Norton Ltd

₹ 1,586 -2.14%

14 Nov - close price

grindwellnorton.co.in BSE: 506076 NSE: GRINDWELL

About

Grindwell Norton Limited is engaged in the business of manufacturing Abrasives, Ceramics & Plastics and providing IT Services. ^[1]

Key Points

Parentage
The company is one of the subsidiaries of Compagnie de Saint Gobain, a transnational group with its headquarters in Paris with sales of Euro 47.90 billion in 2023. ^[1] As of March 24, it holds ~51% stake in the company. ^[2]

Website BSE NSE

Market Cap ₹ 17,561 Cr.
Current Price ₹ 1,586
High / Low ₹ 2,307 / 1,356
Stock P/E 46.9
Book Value ₹ 205
Dividend Yield 1.07 %
ROCE 20.5 %
ROE 15.7 %
Face Value ₹ 5.00

Add ratio to table

Edit ratios

Pros

Company is almost debt free.
Company has been maintaining a healthy dividend payout of 48.5%

Cons

Stock is trading at 7.74 times its book value

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Capital Goods Industrial Products Abrasives & Bearings

Part of BSE 500 BSE Capital Goods BSE SmallCap BSE Allcap BSE Industrials BSE 250 SmallCap Index BSE 400 MidSmallCap Index Nifty500 LargeMidSmall Equal-Cap Weighted

Edit Columns

Loading peers table ...

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	630	600	659	660	658	652	681	691	672	683	691	694	761
	509	481	526	526	529	525	557	560	547	565	568	565	624
Operating Profit	121	119	133	134	130	127	125	131	125	119	123	129	137
OPM %	19%	20%	20%	20%	20%	19%	18%	19%	19%	17%	18%	19%	18%
	15	9	21	15	19	14	17	16	23	18	23	24	31
Interest	1	4	2	2	2	2	2	2	2	2	2	2	2
Depreciation	15	15	15	16	17	17	19	21	22	23	24	25	26
Profit before tax	120	109	138	130	131	122	122	123	124	112	119	126	140
Tax %	24%	26%	26%	25%	25%	25%	23%	25%	24%	25%	23%	25%	25%
	90	81	102	97	98	92	94	92	94	84	91	94	105
EPS in Rs	8.16	7.27	9.23	8.77	8.85	8.32	8.44	8.30	8.49	7.55	8.25	8.53	9.49
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	942	1,110	1,126	1,236	1,405	1,567	1,552	1,633	2,006	2,524	2,652	2,737	2,830
	809	945	957	1,056	1,168	1,307	1,300	1,309	1,604	2,023	2,135	2,238	2,322
Operating Profit	132	165	169	181	237	259	252	324	402	501	517	499	508
OPM %	14%	15%	15%	15%	17%	17%	16%	20%	20%	20%	19%	18%	18%
	14	20	24	33	28	37	46	51	53	55	64	78	96
Interest	0	1	1	1	1	1	4	3	4	8	7	9	8
Depreciation	26	35	37	40	42	42	55	52	51	58	69	90	98
Profit before tax	120	149	155	173	222	253	239	320	400	491	505	479	497
Tax %	31%	32%	34%	33%	34%	35%	24%	24%	25%	25%	25%	25%
	82	101	102	116	147	164	183	242	298	366	381	361	374
EPS in Rs	7.44	9.13	9.23	10.48	13.29	14.80	16.52	21.86	26.91	33.05	34.39	32.59	33.82
Dividend Payout %	44%	36%	35%	38%	38%	41%	45%	43%	45%	44%	49%	52%

Compounded Sales Growth
10 Years:	9%
5 Years:	12%
3 Years:	11%
TTM:	5%

Compounded Profit Growth
10 Years:	13%
5 Years:	15%
3 Years:	6%
TTM:	1%

Stock Price CAGR
10 Years:	16%
5 Years:	24%
3 Years:	-8%
1 Year:	-24%

Return on Equity
10 Years:	17%
5 Years:	18%
3 Years:	18%
Last Year:	16%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	28	28	28	55	55	55	55	55	55	55	55	55	55
Reserves	534	589	734	833	927	1,031	1,121	1,302	1,508	1,749	1,996	2,188	2,212
	0	2	3	3	0	0	0	10	14	42	75	78	74
	247	291	299	299	335	336	391	475	516	535	617	697	761
Total Liabilities	808	910	1,063	1,189	1,318	1,423	1,568	1,843	2,093	2,381	2,743	3,018	3,102
	338	327	322	341	317	321	360	348	366	570	731	861	860
CWIP	4	7	13	6	23	42	29	24	67	119	128	26	50
Investments	55	55	155	166	191	203	603	734	552	665	710	911	946
	411	521	573	676	787	856	576	737	1,108	1,028	1,174	1,220	1,246
Total Assets	808	910	1,063	1,189	1,318	1,423	1,568	1,843	2,093	2,381	2,743	3,018	3,102

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	96	98	131	161	124	82	307	331	186	398	364	453
	-25	-29	-37	-43	-40	-53	-437	-225	-55	-257	-176	-212
	-43	-40	-95	7	-57	-68	-93	-95	-114	-140	-174	-219
Net Cash Flow	29	29	-1	125	28	-39	-223	11	17	1	14	21

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	33	41	41	36	45	47	47	45	43	40	49	47
Inventory Days	150	154	174	149	149	161	147	157	178	141	145	135
Days Payable	61	62	59	104	108	91	114	156	130	86	110	122
Cash Conversion Cycle	123	134	156	82	86	117	80	46	90	96	83	61
Working Capital Days	42	43	56	49	53	73	49	34	50	44	46	36
ROCE %	22%	25%	22%	20%	23%	23%	20%	24%	26%	28%	25%	21%

Shareholding Pattern

Numbers in percentages

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	58.04%	58.04%	58.04%	58.04%	58.04%	58.04%	58.04%	58.04%	58.04%	58.04%	58.04%	58.04%
	8.41%	8.28%	8.34%	8.40%	8.42%	8.31%	8.63%	8.25%	6.97%	6.75%	6.81%	6.38%
	14.89%	15.32%	15.38%	15.31%	15.45%	15.90%	16.14%	16.69%	18.07%	18.33%	18.20%	18.37%
	18.66%	18.37%	18.24%	18.25%	18.09%	17.76%	17.19%	17.01%	16.91%	16.88%	16.95%	17.22%
No. of Shareholders	53,592	51,996	49,457	51,240	52,199	47,954	47,493	50,455	50,300	46,810	47,110	48,557

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
	58.89%	58.36%	58.33%	58.32%	58.32%	58.08%	58.04%	58.04%	58.04%	58.04%
	4.26%	4.47%	4.36%	3.99%	4.24%	7.05%	8.28%	8.31%	6.75%	6.38%
	14.01%	14.50%	15.37%	16.58%	16.12%	15.69%	15.32%	15.90%	18.33%	18.37%
	22.84%	22.67%	21.94%	21.11%	21.31%	19.18%	18.37%	17.76%	16.88%	17.22%
No. of Shareholders	15,432	14,938	15,551	16,854	18,991	45,709	51,996	47,954	46,810	48,557

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Announcements

All

Annual reports

Credit ratings

Rating update
29 Dec 2016 from icra

Concalls

May 2025

Transcript

Notes
PPT
May 2023

Transcript

Notes
PPT
May 2022

Transcript

Notes
PPT
May 2021

Transcript

Notes
PPT
May 2020

Transcript

Notes
PPT
May 2019

Transcript

Notes
PPT
May 2019

Transcript

Notes
PPT
Jun 2018

Transcript

Notes
PPT
May 2017

Transcript

Notes
PPT
Jun 2016

Transcript

Notes
PPT