Grindwell Norton Ltd

Grindwell Norton Ltd

₹ 2,715 0.11%
14 Jun - close price
About

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

Key Points

Strong Parentage
The Co is one of the subsidiaries of Compagnie de Saint Gobain (Saint Gobain), a transnational group with its headquarters in Paris. As of March 2021, it holds a stake of 51.33% in the Co. [1]

  • Market Cap 30,058 Cr.
  • Current Price 2,715
  • High / Low 2,777 / 1,850
  • Stock P/E 78.3
  • Book Value 186
  • Dividend Yield 0.63 %
  • ROCE 25.7 %
  • ROE 19.9 %
  • Face Value 5.00

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 19.7% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 46.1%

Cons

  • Stock is trading at 14.6 times its book value
  • Working capital days have increased from 69.1 days to 110 days

* 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
509 439 513 502 559 638 635 604 665 668 667 660 691
396 353 412 412 435 510 513 485 536 534 536 532 567
Operating Profit 113 87 101 89 124 128 122 119 129 135 131 128 125
OPM % 22% 20% 20% 18% 22% 20% 19% 20% 19% 20% 20% 19% 18%
12 14 10 17 12 11 15 9 21 15 23 14 17
Interest 1 1 1 1 2 1 1 4 2 2 2 2 2
Depreciation 14 14 13 13 13 14 16 16 15 17 17 18 20
Profit before tax 110 86 97 93 120 125 120 108 133 130 135 122 120
Tax % 28% 26% 26% 25% 25% 26% 25% 26% 26% 26% 24% 25% 23%
80 64 72 70 90 93 90 80 98 97 102 92 93
EPS in Rs 7.27 5.80 6.50 6.30 8.10 8.35 8.13 7.24 8.96 8.76 9.20 8.32 8.36
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
947 966 1,135 1,151 1,263 1,431 1,598 1,580 1,638 2,013 2,541 2,687
794 821 954 966 1,070 1,183 1,326 1,315 1,314 1,612 2,040 2,168
Operating Profit 153 145 181 184 193 248 272 265 324 400 501 519
OPM % 16% 15% 16% 16% 15% 17% 17% 17% 20% 20% 20% 19%
10 12 17 22 31 26 35 40 51 53 53 68
Interest 3 3 3 2 2 2 2 4 3 4 8 8
Depreciation 24 32 42 43 42 45 45 58 54 53 60 71
Profit before tax 136 122 154 161 180 227 260 243 317 396 486 508
Tax % 28% 31% 32% 34% 33% 34% 35% 24% 25% 25% 26% 24%
97 84 104 106 121 151 169 184 238 295 362 384
EPS in Rs 8.79 7.58 9.32 9.51 10.78 13.53 15.10 16.48 21.60 26.70 32.69 34.65
Dividend Payout % 37% 43% 35% 34% 37% 37% 40% 46% 44% 45% 44% 49%
Compounded Sales Growth
10 Years: 11%
5 Years: 11%
3 Years: 18%
TTM: 6%
Compounded Profit Growth
10 Years: 16%
5 Years: 20%
3 Years: 20%
TTM: 10%
Stock Price CAGR
10 Years: 30%
5 Years: 36%
3 Years: 32%
1 Year: 29%
Return on Equity
10 Years: 17%
5 Years: 19%
3 Years: 20%
Last Year: 20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 28 28 28 28 55 55 55 55 55 55 55 55
Reserves 489 530 588 735 838 935 1,043 1,132 1,309 1,513 1,750 2,000
22 16 15 15 8 0 0 0 12 15 51 83
245 259 309 311 309 349 347 404 485 532 549 632
Total Liabilities 784 833 940 1,089 1,210 1,339 1,445 1,592 1,862 2,116 2,406 2,770
327 375 360 350 368 342 345 385 370 386 586 756
CWIP 62 6 7 14 6 25 43 29 24 67 124 127
Investments 31 35 35 135 145 171 183 583 713 531 642 689
364 418 538 590 690 802 875 595 755 1,133 1,054 1,197
Total Assets 784 833 940 1,089 1,210 1,339 1,445 1,592 1,862 2,116 2,406 2,770

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
104 106 106 139 170 134 85 318 331 187 356 368
-81 -26 -30 -38 -40 -41 -54 -442 -230 -54 -214 -182
-41 -51 -46 -102 3 -60 -68 -95 -95 -114 -140 -175
Net Cash Flow -18 29 29 -0 133 32 -37 -220 7 19 1 11

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 37 34 42 42 37 45 47 47 45 43 40 49
Inventory Days 140 163 171 190 162 159 169 155 163 184 146 148
Days Payable 52 62 67 62 109 114 93 116 158 134 94 110
Cash Conversion Cycle 125 135 145 171 89 90 123 87 50 92 92 86
Working Capital Days 34 40 44 60 51 54 74 50 37 52 45 110
ROCE % 27% 22% 25% 22% 20% 23% 23% 20% 23% 26% 28%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
58.32% 58.08% 58.08% 58.08% 58.08% 58.08% 58.04% 58.04% 58.04% 58.04% 58.04% 58.04%
4.57% 4.99% 6.10% 7.05% 7.44% 7.52% 8.41% 8.28% 8.34% 8.40% 8.42% 8.31%
17.43% 17.24% 16.03% 15.69% 15.48% 15.58% 14.89% 15.32% 15.38% 15.31% 15.45% 15.90%
19.68% 19.69% 19.79% 19.18% 19.00% 18.82% 18.66% 18.37% 18.24% 18.25% 18.09% 17.76%
No. of Shareholders 30,24632,57847,29145,70946,47756,40653,59251,99649,45751,24052,19947,954

* 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.

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