Grindwell Norton Ltd

Grindwell Norton Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

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 46.1
  • Book Value ₹ 206
  • Dividend Yield 1.07 %
  • ROCE 20.9 %
  • ROE 16.0 %
  • Face Value ₹ 5.00
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Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 48.2%

Cons

  • Stock is trading at 7.70 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
635 604 665 668 667 660 691 706 694 703 710 703 775
513 485 536 534 536 532 567 572 565 579 582 574 634
Operating Profit 122 119 129 135 131 128 125 133 129 123 127 130 141
OPM % 19% 20% 19% 20% 20% 19% 18% 19% 19% 18% 18% 18% 18%
15 9 21 15 23 14 17 16 23 18 23 24 31
Interest 1 4 2 2 2 2 2 2 2 2 2 2 2
Depreciation 16 16 15 17 17 18 20 21 23 23 25 26 26
Profit before tax 120 108 133 130 135 122 120 125 128 116 123 126 143
Tax % 25% 26% 26% 26% 24% 25% 23% 26% 24% 24% 24% 25% 25%
90 80 98 97 102 92 93 93 97 88 93 94 107
EPS in Rs 8.13 7.24 8.96 8.76 9.20 8.32 8.36 8.41 8.69 7.84 8.36 8.53 9.65
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
966 1,135 1,151 1,263 1,431 1,598 1,580 1,638 2,013 2,541 2,687 2,812 2,890
821 954 966 1,070 1,183 1,326 1,315 1,314 1,612 2,040 2,167 2,297 2,369
Operating Profit 145 181 184 193 248 272 265 324 400 501 520 515 521
OPM % 15% 16% 16% 15% 17% 17% 17% 20% 20% 20% 19% 18% 18%
12 17 22 31 26 35 40 51 53 53 67 79 96
Interest 3 3 2 2 2 2 4 3 4 8 8 9 9
Depreciation 32 42 43 42 45 45 58 54 53 60 71 93 101
Profit before tax 122 154 161 180 227 260 243 317 396 486 508 492 508
Tax % 31% 32% 34% 33% 34% 35% 24% 25% 25% 26% 24% 25%
84 104 106 121 151 169 184 238 295 362 384 371 383
EPS in Rs 7.58 9.32 9.51 10.78 13.53 15.10 16.48 21.60 26.70 32.69 34.65 33.30 34.38
Dividend Payout % 43% 35% 34% 37% 37% 40% 46% 44% 45% 44% 49% 51%
Compounded Sales Growth
10 Years: 9%
5 Years: 12%
3 Years: 12%
TTM: 5%
Compounded Profit Growth
10 Years: 13%
5 Years: 15%
3 Years: 7%
TTM: 2%
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

Consolidated Figures in Rs. Crores / View Standalone

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 530 588 735 838 935 1,043 1,132 1,309 1,513 1,750 2,000 2,200 2,226
16 15 15 8 0 -0 -0 12 15 51 83 84 80
259 309 311 309 349 347 404 485 532 549 628 716 780
Total Liabilities 833 940 1,089 1,210 1,339 1,445 1,592 1,862 2,116 2,406 2,766 3,055 3,142
375 360 350 368 342 345 385 370 386 586 756 886 883
CWIP 6 7 14 6 25 43 29 24 67 124 128 26 51
Investments 35 35 135 145 171 183 583 713 531 642 689 892 927
418 538 590 690 802 875 595 755 1,133 1,054 1,193 1,251 1,281
Total Assets 833 940 1,089 1,210 1,339 1,445 1,592 1,862 2,116 2,406 2,766 3,055 3,142

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
106 106 139 170 134 85 318 331 187 393 368 458
-26 -30 -38 -40 -41 -54 -442 -230 -54 -251 -184 -215
-51 -46 -102 3 -60 -68 -95 -95 -114 -140 -175 -221
Net Cash Flow 29 29 -0 133 32 -37 -220 7 19 1 9 22

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 34 42 42 37 45 47 47 45 43 40 49 47
Inventory Days 163 171 190 162 159 169 155 163 184 146 148 140
Days Payable 62 67 62 109 114 93 116 158 134 88 110 122
Cash Conversion Cycle 135 145 171 89 90 123 87 50 92 98 86 66
Working Capital Days 39 41 56 49 54 74 50 36 51 44 47 37
ROCE % 22% 25% 22% 20% 23% 23% 20% 23% 26% 28% 25% 21%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 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 53,59251,99649,45751,24052,19947,95447,49350,45550,30046,81047,11048,557

* 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.

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Documents

Announcements

Annual reports

Credit ratings

Concalls

  • May 2025
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  • May 2023
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  • May 2022
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  • May 2021
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  • May 2020
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  • May 2019
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  • May 2019
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  • Jun 2018
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  • May 2017
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  • Jun 2016
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