GRINDWELL - Grindwell Norton Ltd. Share Price

Industrial Products

Sharesguru Stock Score

GRINDWELL

39/100

High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years

₹1519.00-10.40(-0.68%)

Market Closed as of Mar 11, 2026, 15:30 IST

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Pros

Size: Market Cap wise it is among the top 20% companies of india.

Balance Sheet: Strong Balance Sheet.

Buy Backs: Company has bought back it's stock in the past which is a good thing.

Smart Money: Smart money has been increasing their position in the stock.

Technicals: Bullish SharesGuru indicator.

Profitability: Recent profitability of 13% is a good sign.

Cons

Past Returns: Underperforming stock! In past three years, the stock has provided -3.7% return compared to 12.2% by NIFTY 50.

Valuation
Market Cap	17.95 kCr
Price/Earnings (Trailing)	46.15
Price/Sales (Trailing)	5.91
EV/EBITDA	28.29
Price/Free Cashflow	50.95
MarketCap/EBT	34.52
Enterprise Value	17.91 kCr

Fundamentals
Revenue (TTM)	3.04 kCr
Rev. Growth (Yr)	7.1%
Earnings (TTM)	390.29 Cr
Earnings Growth (Yr)	8.7%

Profitability
Operating Margin	17%
EBT Margin	17%
Return on Equity	17%
Return on Assets	12.42%
Free Cashflow Yield	1.96%

Price to Sales Ratio

Latest reported: 5.9

Revenue (Last 12 mths)

Latest reported: 3 kCr

Net Income (Last 12 mths)

Latest reported: 390.3 Cr

Growth & Returns
Price Change 1W	-3.9%
Price Change 1M	5.1%
Price Change 6M	1.7%
Price Change 1Y	12.8%
3Y Cumulative Return	-3.7%
5Y Cumulative Return	11.2%
7Y Cumulative Return	16.8%
10Y Cumulative Return	18.5%

Cash Flow & Liquidity
Cash Flow from Investing (TTM)	-212.75 Cr
Cash Flow from Operations (TTM)	458.49 Cr
Cash Flow from Financing (TTM)	-223.58 Cr
Cash & Equivalents	53.3 Cr
Free Cash Flow (TTM)	364.43 Cr
Free Cash Flow/Share (TTM)	32.91

Balance Sheet
Total Assets	3.14 kCr
Total Liabilities	845.3 Cr
Shareholder Equity	2.3 kCr
Current Assets	1.85 kCr
Current Liabilities	702.76 Cr
Net PPE	710.91 Cr
Inventory	510.86 Cr
Goodwill	46.79 Cr

Capital Structure & Leverage
Debt Ratio	0.00
Debt/Equity	0.01
Interest Coverage	57.07
Interest/Cashflow Ops	51.65

Dividend & Shareholder Returns
Dividend/Share (TTM)	17
Dividend Yield	1.1%
Shares Dilution (1Y)	0.00%
Shares Dilution (3Y)	0.00%

Sharesguru Stock Score

GRINDWELL

39/100

High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years

Pros

Size: Market Cap wise it is among the top 20% companies of india.

Balance Sheet: Strong Balance Sheet.

Buy Backs: Company has bought back it's stock in the past which is a good thing.

Smart Money: Smart money has been increasing their position in the stock.

Technicals: Bullish SharesGuru indicator.

Profitability: Recent profitability of 13% is a good sign.

Cons

Past Returns: Underperforming stock! In past three years, the stock has provided -3.7% return compared to 12.2% by NIFTY 50.

The Good, Bad and Ugly

Growth

Profitability

Size

Dilution Rank

Balance Sheet

Momentum

Technicals

Smart Money

Insider Trading

Investor Care
Dividend Yield	1.1%
Dividend/Share (TTM)	17
Shares Dilution (1Y)	0.00%
Earnings/Share (TTM)	35.14

Financial Health
Current Ratio	2.63
Debt/Equity	0.01

Technical Indicators
RSI (14d)	51.79
RSI (5d)	39.08
RSI (21d)	65.8
MACD Signal	Buy
Stochastic Oscillator Signal	Hold
SharesGuru Signal	Buy
RSI Signal	Hold
RSI5 Signal	Hold
RSI21 Signal	Hold
SMA 5 Signal	Sell
SMA 10 Signal	Buy
SMA 20 Signal	Buy
SMA 50 Signal	Buy
SMA 100 Signal	Buy

Earnings Outlook

Q&A Session

Revenue

Last Updated: Dec 31, 2025

Description	Share	Value
Abrasives	47.2%	358.8 Cr
Ceramics & Plastics	42.2%	320.7 Cr
Digital Services	7.5%	56.9 Cr
Others	3.2%	24.3 Cr
Total		760.8 Cr

Share Holdings

Understand Grindwell Norton ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.

Holding Pattern

Major Shareholders

Share Holding Details

Shareholder Name	Holding %
Saint Gobain Abrasives Inc	26.77%
Spafi-Societe De Participations Financieres Et Industrielles	24.56%
SBI Midcap Fund	8.77%
UTI-Flexi Cap Fund	2.41%
ICICI Prudential Smallcap Fund	1.86%
Vera Anand Mahajan	1.71%
Khursheed M Narang	1.34%
Danesh M Narang	0.95%
Ashaita Mahajan	0.95%
Aakil Anand Mahajan	0.9%
Anand Yashavant Mahajan	0.46%
Saint Gobain India Private Limited	0.27%
Malvinder C Narang	0.12%
Foreign Institutional Investors	0%
Mikhil M Narang	0%

Overall Distribution

Distribution across major stakeholders

Ownership Distribution

Distribution across major institutional holders

Ticker	Name	Mkt Cap	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
AIAENG	AIA Engineering	34.89 kCr	4.74 kCr	-6.30%	+19.00%	30.03	7.35	-	-
CARBORUNIV	Carborundum Universal	15.37 kCr	5.08 kCr	+2.40%	-3.00%	62.22	3.03	-	-
WENDT	Wendt (India)	1.34 kCr	251.6 Cr	-2.60%	-29.50%	60.09	5.34	-	-
HINDCOMPOS	Hindustan Composites	613.43 Cr	368.13 Cr	+2.60%	-5.30%	24.06	1.67	-	-

Category	GRINDWELL	Industrial
PE	47.31	36.13
PS	6.06	2.62
Growth	5.9 %	9.5 %

Key Insights

1. GRINDWELL is NOT among the Top 10 largest companies in Industrial Products.
2. The company holds a market share of 0.7% in Industrial Products.
3. In last one year, the company has had a below average growth that other Industrial Products companies.

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Revenue From Operations	4.7%	2,812	2,687	2,541	2,013	1,638	1,580
Other Income	17.9%	80	68	56	53	51	40
Total Income	4.9%	2,891	2,755	2,597	2,066	1,689	1,620
Cost of Materials	2.4%	905	884	924	703	522	593
Purchases of stock-in-trade	4.2%	347	333	267	259	165	122
Employee Expense	3.4%	337	326	297	251	208	205
Finance costs	23.5%	9.35	7.76	7.8	4.12	3.42	4.47
Depreciation and Amortization	31.4%	93	71	60	53	54	58
Other expenses	7.9%	685	635	583	471	385	397
Total Expenses	6.9%	2,400	2,246	2,110	1,669	1,372	1,377
Profit Before exceptional items and Tax	-3.5%	491	509	488	397	317	243
Exceptional items before tax	25.9%	0	-0.35	0	-0.98	0	0
Total profit before tax	-3.5%	491	509	488	396	317	243
Current tax	-5.8%	115	122	127	108	80	68
Deferred tax	225.9%	5.4	2.35	-2.64	-6.99	-0.4	-8.81
Total tax	-2.4%	121	124	124	101	79	59
Total profit (loss) for period	-3.4%	371	384	362	295	238	184
Other comp. income net of taxes	-29.2%	18	25	6.82	12	20	-14.64
Total Comprehensive Income	-4.9%	389	409	368	307	257	169
Earnings Per Share, Basic	-4%	33.3	34.65	32.69	26.7	21.6	16.48
Earnings Per Share, Diluted	-4%	33.3	34.65	32.69	26.7	21.6	16.48

Description	(%) Q/Q	Dec-2025	Sep-2025	Jun-2025	Mar-2025	Dec-2024	Sep-2024
Revenue From Operations	-2.8%	753	775	703	710	703	694
Other Income	-40%	19	31	24	23	18	23
Total Income	-4.2%	772	806	727	732	721	717
Cost of Materials	3.9%	265	255	239	219	227	232
Purchases of stock-in-trade	-15.5%	83	98	110	82	85	89
Employee Expense	-11%	82	92	85	83	82	82
Finance costs	-1.7%	2.14	2.16	2.16	2.5	2.1	2.29
Depreciation and Amortization	4%	27	26	26	25	23	23
Other expenses	-5.3%	179	189	169	174	174	175
Total Expenses	-3%	643	663	602	610	605	590
Profit Before exceptional items and Tax	-9.9%	129	143	126	123	116	128
Exceptional items before tax	-	0	0	0	0	0	0
Total profit before tax	-9.9%	129	143	126	123	116	128
Current tax	-11.4%	32	36	32	27	27	30
Deferred tax	67.1%	0.51	-0.49	-0.17	2.58	1.18	0.23
Total tax	-8.6%	33	36	31	30	28	30
Total profit (loss) for period	-10.4%	96	107	94	93	88	97
Other comp. income net of taxes	37.6%	11	8.27	3.4	-2.83	20	0
Total Comprehensive Income	-7.8%	107	116	98	90	108	97
Earnings Per Share, Basic	-12.1%	8.6	9.65	8.53	8.36	7.84	8.69
Earnings Per Share, Diluted	-12.1%	8.6	9.65	8.53	8.36	7.84	8.69

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Revenue From Operations	3.2%	2,737	2,652	2,369	2,006	1,633	1,552
Other Income	17.9%	80	68	51	53	51	46
Total Income	3.6%	2,817	2,720	2,420	2,059	1,684	1,599
Cost of Materials	0.8%	880	873	844	711	536	607
Purchases of stock-in-trade	4.2%	347	333	267	259	165	122
Employee Expense	3.4%	334	323	274	248	205	202
Finance costs	29.2%	8.65	6.92	6.66	3.96	3.24	4.28
Depreciation and Amortization	30.9%	90	69	55	51	52	55
Other expenses	6%	653	616	529	458	371	369
Total Expenses	5.7%	2,339	2,212	1,951	1,659	1,364	1,359
Profit Before exceptional items and Tax	-5.7%	479	508	469	400	320	239
Exceptional items before tax	76.2%	0	-3.2	0	0	0	0
Total profit before tax	-5.2%	479	505	469	400	320	239
Current tax	-6.6%	114	122	120	108	79	66
Deferred tax	88.4%	3.6	2.38	-1.41	-6.18	-1.18	-9.42
Total tax	-4.9%	118	124	118	102	78	56
Total profit (loss) for period	-5.3%	361	381	351	298	242	183
Other comp. income net of taxes	-29.2%	18	25	6.88	12	20	-14.64
Total Comprehensive Income	-6.9%	378	406	358	310	262	168
Earnings Per Share, Basic	-5.4%	32.59	34.39	31.67	26.91	21.86	16.52
Earnings Per Share, Diluted	-5.4%	32.59	34.39	31.67	26.91	21.86	16.52

Description	(%) Q/Q	Dec-2025	Sep-2025	Jun-2025	Mar-2025	Dec-2024	Sep-2024
Revenue From Operations	-	742	-	694	691	683	672
Other Income	-	19	-	24	23	18	23
Total Income	-	760	-	718	714	701	695
Cost of Materials	-	259	-	239	216	219	224
Purchases of stock-in-trade	-	83	-	110	82	85	89
Employee Expense	-	81	-	84	82	81	82
Finance costs	-	2.03	-	2.07	2.32	1.93	2.11
Depreciation and Amortization	-	26	-	25	24	23	22
Other expenses	-	169	-	163	167	165	166
Total Expenses	-	634	-	592	595	589	571
Profit Before exceptional items and Tax	-	126	-	126	119	112	124
Exceptional items before tax	-	0	-	0	0	0	0
Total profit before tax	-	126	-	126	119	112	124
Current tax	-	32	-	32	26	27	30
Deferred tax	-	0.52	-	-0.2	1.52	1.18	0.23
Total tax	-	32	-	31	28	28	30
Total profit (loss) for period	-	94	-	94	91	84	94
Other comp. income net of taxes	-	11	-	3.4	-2.85	20	0
Total Comprehensive Income	-	105	-	98	88	104	94
Earnings Per Share, Basic	-	8.49	-	8.53	8.25	7.55	8.49
Earnings Per Share, Diluted	-	8.49	-	8.53	8.25	7.55	8.49

Description	(%) Q/Q	Sep-2025	Mar-2025	Sep-2024	Mar-2024	Sep-2023	Mar-2023
Cash and cash equivalents	-25.7%	53	71	35	49	117	40
Current investments	2.8%	633	616	483	447	340	435
Loans, current	98.3%	2.19	1.6	1.79	1.54	1.07	1.12
Total current financial assets	1.2%	1,286	1,271	1,150	1,041	960	865
Inventories	4.3%	511	490	497	488	482	464
Current tax assets	-113.4%	0	8.46	-	0	0	0
Total current assets	2.3%	1,851	1,810	1,647	1,573	1,490	1,379
Property, plant and equipment	-10.2%	711	792	683	582	457	440
Capital work-in-progress	108.3%	51	25	26	127	172	124
Investment property	-	0	0	76	80	65	51
Goodwill	0%	47	47	47	47	47	47
Non-current investments	6.9%	278	260	227	227	198	198
Loans, non-current	16.7%	15	13	9.19	7.78	8.5	6.29
Total non-current financial assets	6.5%	313	294	273	264	222	255
Total non-current assets	3.5%	1,290	1,246	1,193	1,196	1,051	1,033
Total assets	2.8%	3,142	3,057	2,840	2,770	2,541	2,412
Borrowings, non-current	-5000%	0.51	1.01	3.86	6.36	3.13	3.95
Total non-current financial liabilities	-16.7%	51	61	54	60	45	29
Provisions, non-current	6.1%	53	50	51	50	36	34
Total non-current liabilities	-5.3%	143	151	128	132	97	79
Borrowings, current	88.3%	11	6.31	13	12	20	14
Total current financial liabilities	10.5%	603	546	533	479	478	412
Provisions, current	28.6%	37	29	35	35	29	25
Current tax liabilities	148.9%	23	9.84	22	7.9	33	25
Total current liabilities	10.6%	703	636	642	570	588	516
Total liabilities	7.4%	845	787	770	703	685	595
Equity share capital	0%	55	55	55	55	55	55
Non controlling interest	7.7%	15	14	13	11	12	11
Total equity	1.1%	2,296	2,270	2,070	2,067	1,856	1,817
Total equity and liabilities	2.8%	3,142	3,057	2,840	2,770	2,541	2,412

Description	(%) Q/Q	Sep-2025	Mar-2025	Sep-2024	Mar-2024	Sep-2023	Mar-2023
Cash and cash equivalents	-30.4%	49	70	34	48	116	33
Current investments	2.8%	633	616	483	447	341	435
Loans, current	98.3%	2.19	1.6	1.79	1.53	1.07	27
Total current financial assets	0.9%	1,277	1,265	1,069	1,038	956	845
Inventories	5%	488	465	477	474	465	428
Current tax assets	-113.4%	0	8.46	0	0	-	0
Total current assets	2.2%	1,819	1,780	1,615	1,555	1,466	1,315
Property, plant and equipment	-10.3%	688	767	660	558	443	394
Capital work-in-progress	104.2%	50	25	26	127	164	118
Investment property	-	0	0	76	79	64	31
Goodwill	0%	47	47	47	47	47	0.49
Non-current investments	5.8%	313	296	263	263	219	351
Loans, non-current	16.7%	15	13	9.19	7.78	8.5	6.29
Total non-current financial assets	5.8%	348	329	301	300	242	407
Total non-current assets	3.6%	1,283	1,239	1,185	1,188	1,044	1,013
Total assets	2.8%	3,102	3,018	2,801	2,743	2,510	2,328
Borrowings, non-current	-5000%	0.51	1.01	3.86	6.36	3.13	3.95
Total non-current financial liabilities	-100.8%	0.51	60	54	60	44	28
Provisions, non-current	6.1%	53	50	51	50	36	34
Total non-current liabilities	-6%	142	151	128	132	96	77
Borrowings, current	393.6%	5.64	1.94	7.84	5	5	5
Total current financial liabilities	10.9%	593	535	518	470	466	365
Provisions, current	28.6%	37	29	34	35	29	25
Current tax liabilities	183.1%	23	8.77	22	7.9	33	20
Total current liabilities	10.9%	692	624	623	560	575	462
Total liabilities	7.6%	834	775	751	692	671	539
Equity share capital	0%	55	55	55	55	55	55
Total equity	1.1%	2,268	2,243	2,050	2,051	1,839	1,789
Total equity and liabilities	2.8%	3,102	3,018	2,801	2,743	2,510	2,328

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Finance costs	23.5%	9.35	7.76	7.8	4.12	-	-
Change in inventories	86.7%	-2.27	-23.66	-16.33	-125.07	-	-
Depreciation	31.4%	93	71	60	53	-	-
Unrealised forex losses/gains	24.1%	0.4	0.21	-0.59	0.48	-	-
Dividend income	-111.9%	0	9.41	6.27	2.85	-	-
Adjustments for interest income	-7.1%	14	15	9.2	7.52	-	-
Share-based payments	68.8%	2.08	1.64	1.39	1.57	-	-
Net Cashflows from Operations	15.9%	585	505	479	285	-	-
Dividends received	-	-11.76	0	0	0	-	-
Income taxes paid (refund)	-16.9%	114	137	123	100	-	-
Net Cashflows From Operating Activities	24.5%	458	368	356	186	-	-
Cash payment for investment in partnership firm or association of persons or LLP	-	0	0	121	0	-	-
Proceeds from sales of PPE	-67.8%	1.76	3.36	0.8	5.69	-	-
Purchase of property, plant and equipment	-45.6%	94	172	164	126	-	-
Dividends received	30.8%	12	9.41	6.27	2.85	-	-
Interest received	27.3%	15	12	8.57	5.94	-	-
Other inflows (outflows) of cash	-428%	-146.79	-26.99	46	58	-	-
Net Cashflows From Investing Activities	-17%	-212.75	-181.68	-222.9	-53.6	-	-
Proceeds from borrowings	-89.9%	1.71	8.01	12	2.15	-	-
Repayments of borrowings	95.7%	10	5.6	5.01	0	-	-
Payments of lease liabilities	75.4%	15	8.98	6.31	6.73	-	-
Dividends paid	16.9%	188	161	133	105	-	-
Interest paid	301.4%	9.35	3.08	7.8	4.12	-	-
Other inflows (outflows) of cash	-14.5%	-2.32	-1.9	8.59	0	-	-
Net Cashflows from Financing Activities	-26.3%	-223.58	-176.77	-131.59	-113.88	-	-
Net change in cash and cash eq.	147.3%	22	9.49	1.21	18	-	-

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Finance costs	29.2%	8.65	6.92	6.46	3.96	-	-
Change in inventories	132.4%	8.77	-22.97	9.29	-122.75	-	-
Depreciation	30.9%	90	69	55	51	-	-
Unrealised forex losses/gains	22.1%	0.4	0.23	-0.58	0.48	-	-
Dividend income	-111.9%	0	9.41	6.27	2.85	-	-
Adjustments for interest income	-7.1%	14	15	9.14	7.46	-	-
Share-based payments	68.8%	2.08	1.64	1.39	1.57	-	-
Net Cashflows from Operations	15.6%	579	501	462	285	-	-
Dividends received	-	-11.76	0	0	0	-	-
Income taxes paid (refund)	-16.9%	114	137	121	100	-	-
Net Cashflows From Operating Activities	24.5%	453	364	341	186	-	-
Proceeds from sales of PPE	-127.3%	0	0.56	0.83	5.69	-	-
Purchase of property, plant and equipment	-43.2%	93	163	139	125	-	-
Proceeds from sales of investment property	-	1.11	0	0	0	-	-
Purchase of investment property	-	0	0	205	0	-	-
Dividends received	30.8%	12	9.41	6.27	2.85	-	-
Interest received	27.3%	15	12	8.46	4.09	-	-
Other inflows (outflows) of cash	-423.2%	-146.79	-27.25	127	58	-	-
Net Cashflows From Investing Activities	-20.8%	-212.5	-175.75	-202.32	-55.22	-	-
Proceeds from borrowings	-89.9%	1.71	8.01	12	2.15	-	-
Repayments of borrowings	95.7%	10	5.6	5.01	0	-	-
Payments of lease liabilities	68.4%	14	8.72	6.14	6.54	-	-
Dividends paid	16.9%	188	161	133	105	-	-
Interest paid	466.7%	8.65	2.35	1.98	3.96	-	-
Other inflows (outflows) of cash	10.7%	0	-0.12	0	0	-	-
Net Cashflows from Financing Activities	-25.9%	-219.2	-173.89	-138.67	-113.53	-	-
Net change in cash and cash eq.	53.8%	21	14	0.06	17	-	-

Grindwell Norton Limited manufactures and sells abrasives, ceramics, and plastic products in India and internationally. It operates through Abrasives, Ceramics and Plastics, Digital Services, and Others segment. The company offers bonded abrasives in the form of wheels and other shapes, such as segments, sticks, and cones etc. for various applications, including lapping, honing, super-finishing, thread grinding, fluting, OD grinding, ID grinding, and surface and sace grinding, as well as for rough applications comprising snagging, offhand grinding, and burr removal. It also provides coated abrasives products in various shapes, such as discs, belts, wheels, and sheets and rolls for polishing and surface preparation; non-woven abrasives; super abrasives for precision applications, such as auto, bearing, steel, solar, and electronics industries; thin wheels used for cutting, deburring, and weld-removal; and cutting-edge abrasive products. In addition, the company offers silicon carbide grains primarily for use as raw material in the manufacture of abrasives, iron foundries, and refractories, as well as for stone polishing; and PCR ceramic products for use in sanitary-ware, tableware, ballistic armor protection, wear resistance systems, etc. Further, the company produces and markets performance plastics comprising bearings, seals, tubing and hoses, films, fabrics, and single use bags and assemblies for use in the automotive, oil and gas, life sciences, construction, energy, and general industrial applications. Grindwell Norton Limited was founded in 1941 and is based in Mumbai, India. Grindwell Norton Limited is a subsidiary of Compagnie de Saint-Gobain.

Industry Group:Industrial Products

Employees:2,524

Website:www.grindwellnorton.co.in

Important Disclosure & Data Context

This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.

Sharesguru Stock Score

GRINDWELL

39/100

High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years

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Pros

Size: Market Cap wise it is among the top 20% companies of india.

Balance Sheet: Strong Balance Sheet.

Buy Backs: Company has bought back it's stock in the past which is a good thing.

Smart Money: Smart money has been increasing their position in the stock.

Technicals: Bullish SharesGuru indicator.

Profitability: Recent profitability of 13% is a good sign.

Cons

Past Returns: Underperforming stock! In past three years, the stock has provided -3.7% return compared to 12.2% by NIFTY 50.

Valuation
Market Cap	17.95 kCr
Price/Earnings (Trailing)	46.15
Price/Sales (Trailing)	5.91
EV/EBITDA	28.29
Price/Free Cashflow	50.95
MarketCap/EBT	34.52
Enterprise Value	17.91 kCr

Fundamentals
Revenue (TTM)	3.04 kCr
Rev. Growth (Yr)	7.1%
Earnings (TTM)	390.29 Cr
Earnings Growth (Yr)	8.7%

Profitability
Operating Margin	17%
EBT Margin	17%
Return on Equity	17%
Return on Assets	12.42%
Free Cashflow Yield	1.96%

Price to Sales Ratio

Latest reported: 5.9

Revenue (Last 12 mths)

Latest reported: 3 kCr

Net Income (Last 12 mths)

Latest reported: 390.3 Cr

Growth & Returns
Price Change 1W	-3.9%
Price Change 1M	5.1%
Price Change 6M	1.7%
Price Change 1Y	12.8%
3Y Cumulative Return	-3.7%
5Y Cumulative Return	11.2%
7Y Cumulative Return	16.8%
10Y Cumulative Return	18.5%

Cash Flow & Liquidity
Cash Flow from Investing (TTM)	-212.75 Cr
Cash Flow from Operations (TTM)	458.49 Cr
Cash Flow from Financing (TTM)	-223.58 Cr
Cash & Equivalents	53.3 Cr
Free Cash Flow (TTM)	364.43 Cr
Free Cash Flow/Share (TTM)	32.91

Balance Sheet
Total Assets	3.14 kCr
Total Liabilities	845.3 Cr
Shareholder Equity	2.3 kCr
Current Assets	1.85 kCr
Current Liabilities	702.76 Cr
Net PPE	710.91 Cr
Inventory	510.86 Cr
Goodwill	46.79 Cr

Capital Structure & Leverage
Debt Ratio	0.00
Debt/Equity	0.01
Interest Coverage	57.07
Interest/Cashflow Ops	51.65

Dividend & Shareholder Returns
Dividend/Share (TTM)	17
Dividend Yield	1.1%
Shares Dilution (1Y)	0.00%
Shares Dilution (3Y)	0.00%

Sharesguru Stock Score

GRINDWELL

39/100

High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years

Pros

Size: Market Cap wise it is among the top 20% companies of india.

Balance Sheet: Strong Balance Sheet.

Buy Backs: Company has bought back it's stock in the past which is a good thing.

Smart Money: Smart money has been increasing their position in the stock.

Technicals: Bullish SharesGuru indicator.

Profitability: Recent profitability of 13% is a good sign.

Cons

Past Returns: Underperforming stock! In past three years, the stock has provided -3.7% return compared to 12.2% by NIFTY 50.

The Good, Bad and Ugly

Growth

Profitability

Size

Dilution Rank

Balance Sheet

Momentum

Technicals

Smart Money

Insider Trading

Investor Care
Dividend Yield	1.1%
Dividend/Share (TTM)	17
Shares Dilution (1Y)	0.00%
Earnings/Share (TTM)	35.14

Financial Health
Current Ratio	2.63
Debt/Equity	0.01

Technical Indicators
RSI (14d)	51.79
RSI (5d)	39.08
RSI (21d)	65.8
MACD Signal	Buy
Stochastic Oscillator Signal	Hold
SharesGuru Signal	Buy
RSI Signal	Hold
RSI5 Signal	Hold
RSI21 Signal	Hold
SMA 5 Signal	Sell
SMA 10 Signal	Buy
SMA 20 Signal	Buy
SMA 50 Signal	Buy
SMA 100 Signal	Buy

Earnings Outlook

Q&A Session

Revenue

Last Updated: Dec 31, 2025

Description	Share	Value
Abrasives	47.2%	358.8 Cr
Ceramics & Plastics	42.2%	320.7 Cr
Digital Services	7.5%	56.9 Cr
Others	3.2%	24.3 Cr
Total		760.8 Cr

Share Holdings

Understand Grindwell Norton ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.

Holding Pattern

Major Shareholders

Share Holding Details

Shareholder Name	Holding %
Saint Gobain Abrasives Inc	26.77%
Spafi-Societe De Participations Financieres Et Industrielles	24.56%
SBI Midcap Fund	8.77%
UTI-Flexi Cap Fund	2.41%
ICICI Prudential Smallcap Fund	1.86%
Vera Anand Mahajan	1.71%
Khursheed M Narang	1.34%
Danesh M Narang	0.95%
Ashaita Mahajan	0.95%
Aakil Anand Mahajan	0.9%
Anand Yashavant Mahajan	0.46%
Saint Gobain India Private Limited	0.27%
Malvinder C Narang	0.12%
Foreign Institutional Investors	0%
Mikhil M Narang	0%

Overall Distribution

Distribution across major stakeholders

Ownership Distribution

Distribution across major institutional holders

Ticker	Name	Mkt Cap	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
AIAENG	AIA Engineering	34.89 kCr	4.74 kCr	-6.30%	+19.00%	30.03	7.35	-	-
CARBORUNIV	Carborundum Universal	15.37 kCr	5.08 kCr	+2.40%	-3.00%	62.22	3.03	-	-
WENDT	Wendt (India)	1.34 kCr	251.6 Cr	-2.60%	-29.50%	60.09	5.34	-	-
HINDCOMPOS	Hindustan Composites	613.43 Cr	368.13 Cr	+2.60%	-5.30%	24.06	1.67	-	-

Category	GRINDWELL	Industrial
PE	47.31	36.13
PS	6.06	2.62
Growth	5.9 %	9.5 %

Key Insights

1. GRINDWELL is NOT among the Top 10 largest companies in Industrial Products.
2. The company holds a market share of 0.7% in Industrial Products.
3. In last one year, the company has had a below average growth that other Industrial Products companies.

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Revenue From Operations	4.7%	2,812	2,687	2,541	2,013	1,638	1,580
Other Income	17.9%	80	68	56	53	51	40
Total Income	4.9%	2,891	2,755	2,597	2,066	1,689	1,620
Cost of Materials	2.4%	905	884	924	703	522	593
Purchases of stock-in-trade	4.2%	347	333	267	259	165	122
Employee Expense	3.4%	337	326	297	251	208	205
Finance costs	23.5%	9.35	7.76	7.8	4.12	3.42	4.47
Depreciation and Amortization	31.4%	93	71	60	53	54	58
Other expenses	7.9%	685	635	583	471	385	397
Total Expenses	6.9%	2,400	2,246	2,110	1,669	1,372	1,377
Profit Before exceptional items and Tax	-3.5%	491	509	488	397	317	243
Exceptional items before tax	25.9%	0	-0.35	0	-0.98	0	0
Total profit before tax	-3.5%	491	509	488	396	317	243
Current tax	-5.8%	115	122	127	108	80	68
Deferred tax	225.9%	5.4	2.35	-2.64	-6.99	-0.4	-8.81
Total tax	-2.4%	121	124	124	101	79	59
Total profit (loss) for period	-3.4%	371	384	362	295	238	184
Other comp. income net of taxes	-29.2%	18	25	6.82	12	20	-14.64
Total Comprehensive Income	-4.9%	389	409	368	307	257	169
Earnings Per Share, Basic	-4%	33.3	34.65	32.69	26.7	21.6	16.48
Earnings Per Share, Diluted	-4%	33.3	34.65	32.69	26.7	21.6	16.48

Description	(%) Q/Q	Dec-2025	Sep-2025	Jun-2025	Mar-2025	Dec-2024	Sep-2024
Revenue From Operations	-2.8%	753	775	703	710	703	694
Other Income	-40%	19	31	24	23	18	23
Total Income	-4.2%	772	806	727	732	721	717
Cost of Materials	3.9%	265	255	239	219	227	232
Purchases of stock-in-trade	-15.5%	83	98	110	82	85	89
Employee Expense	-11%	82	92	85	83	82	82
Finance costs	-1.7%	2.14	2.16	2.16	2.5	2.1	2.29
Depreciation and Amortization	4%	27	26	26	25	23	23
Other expenses	-5.3%	179	189	169	174	174	175
Total Expenses	-3%	643	663	602	610	605	590
Profit Before exceptional items and Tax	-9.9%	129	143	126	123	116	128
Exceptional items before tax	-	0	0	0	0	0	0
Total profit before tax	-9.9%	129	143	126	123	116	128
Current tax	-11.4%	32	36	32	27	27	30
Deferred tax	67.1%	0.51	-0.49	-0.17	2.58	1.18	0.23
Total tax	-8.6%	33	36	31	30	28	30
Total profit (loss) for period	-10.4%	96	107	94	93	88	97
Other comp. income net of taxes	37.6%	11	8.27	3.4	-2.83	20	0
Total Comprehensive Income	-7.8%	107	116	98	90	108	97
Earnings Per Share, Basic	-12.1%	8.6	9.65	8.53	8.36	7.84	8.69
Earnings Per Share, Diluted	-12.1%	8.6	9.65	8.53	8.36	7.84	8.69

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Revenue From Operations	3.2%	2,737	2,652	2,369	2,006	1,633	1,552
Other Income	17.9%	80	68	51	53	51	46
Total Income	3.6%	2,817	2,720	2,420	2,059	1,684	1,599
Cost of Materials	0.8%	880	873	844	711	536	607
Purchases of stock-in-trade	4.2%	347	333	267	259	165	122
Employee Expense	3.4%	334	323	274	248	205	202
Finance costs	29.2%	8.65	6.92	6.66	3.96	3.24	4.28
Depreciation and Amortization	30.9%	90	69	55	51	52	55
Other expenses	6%	653	616	529	458	371	369
Total Expenses	5.7%	2,339	2,212	1,951	1,659	1,364	1,359
Profit Before exceptional items and Tax	-5.7%	479	508	469	400	320	239
Exceptional items before tax	76.2%	0	-3.2	0	0	0	0
Total profit before tax	-5.2%	479	505	469	400	320	239
Current tax	-6.6%	114	122	120	108	79	66
Deferred tax	88.4%	3.6	2.38	-1.41	-6.18	-1.18	-9.42
Total tax	-4.9%	118	124	118	102	78	56
Total profit (loss) for period	-5.3%	361	381	351	298	242	183
Other comp. income net of taxes	-29.2%	18	25	6.88	12	20	-14.64
Total Comprehensive Income	-6.9%	378	406	358	310	262	168
Earnings Per Share, Basic	-5.4%	32.59	34.39	31.67	26.91	21.86	16.52
Earnings Per Share, Diluted	-5.4%	32.59	34.39	31.67	26.91	21.86	16.52

Description	(%) Q/Q	Dec-2025	Sep-2025	Jun-2025	Mar-2025	Dec-2024	Sep-2024
Revenue From Operations	-	742	-	694	691	683	672
Other Income	-	19	-	24	23	18	23
Total Income	-	760	-	718	714	701	695
Cost of Materials	-	259	-	239	216	219	224
Purchases of stock-in-trade	-	83	-	110	82	85	89
Employee Expense	-	81	-	84	82	81	82
Finance costs	-	2.03	-	2.07	2.32	1.93	2.11
Depreciation and Amortization	-	26	-	25	24	23	22
Other expenses	-	169	-	163	167	165	166
Total Expenses	-	634	-	592	595	589	571
Profit Before exceptional items and Tax	-	126	-	126	119	112	124
Exceptional items before tax	-	0	-	0	0	0	0
Total profit before tax	-	126	-	126	119	112	124
Current tax	-	32	-	32	26	27	30
Deferred tax	-	0.52	-	-0.2	1.52	1.18	0.23
Total tax	-	32	-	31	28	28	30
Total profit (loss) for period	-	94	-	94	91	84	94
Other comp. income net of taxes	-	11	-	3.4	-2.85	20	0
Total Comprehensive Income	-	105	-	98	88	104	94
Earnings Per Share, Basic	-	8.49	-	8.53	8.25	7.55	8.49
Earnings Per Share, Diluted	-	8.49	-	8.53	8.25	7.55	8.49

Description	(%) Q/Q	Sep-2025	Mar-2025	Sep-2024	Mar-2024	Sep-2023	Mar-2023
Cash and cash equivalents	-25.7%	53	71	35	49	117	40
Current investments	2.8%	633	616	483	447	340	435
Loans, current	98.3%	2.19	1.6	1.79	1.54	1.07	1.12
Total current financial assets	1.2%	1,286	1,271	1,150	1,041	960	865
Inventories	4.3%	511	490	497	488	482	464
Current tax assets	-113.4%	0	8.46	-	0	0	0
Total current assets	2.3%	1,851	1,810	1,647	1,573	1,490	1,379
Property, plant and equipment	-10.2%	711	792	683	582	457	440
Capital work-in-progress	108.3%	51	25	26	127	172	124
Investment property	-	0	0	76	80	65	51
Goodwill	0%	47	47	47	47	47	47
Non-current investments	6.9%	278	260	227	227	198	198
Loans, non-current	16.7%	15	13	9.19	7.78	8.5	6.29
Total non-current financial assets	6.5%	313	294	273	264	222	255
Total non-current assets	3.5%	1,290	1,246	1,193	1,196	1,051	1,033
Total assets	2.8%	3,142	3,057	2,840	2,770	2,541	2,412
Borrowings, non-current	-5000%	0.51	1.01	3.86	6.36	3.13	3.95
Total non-current financial liabilities	-16.7%	51	61	54	60	45	29
Provisions, non-current	6.1%	53	50	51	50	36	34
Total non-current liabilities	-5.3%	143	151	128	132	97	79
Borrowings, current	88.3%	11	6.31	13	12	20	14
Total current financial liabilities	10.5%	603	546	533	479	478	412
Provisions, current	28.6%	37	29	35	35	29	25
Current tax liabilities	148.9%	23	9.84	22	7.9	33	25
Total current liabilities	10.6%	703	636	642	570	588	516
Total liabilities	7.4%	845	787	770	703	685	595
Equity share capital	0%	55	55	55	55	55	55
Non controlling interest	7.7%	15	14	13	11	12	11
Total equity	1.1%	2,296	2,270	2,070	2,067	1,856	1,817
Total equity and liabilities	2.8%	3,142	3,057	2,840	2,770	2,541	2,412

Description	(%) Q/Q	Sep-2025	Mar-2025	Sep-2024	Mar-2024	Sep-2023	Mar-2023
Cash and cash equivalents	-30.4%	49	70	34	48	116	33
Current investments	2.8%	633	616	483	447	341	435
Loans, current	98.3%	2.19	1.6	1.79	1.53	1.07	27
Total current financial assets	0.9%	1,277	1,265	1,069	1,038	956	845
Inventories	5%	488	465	477	474	465	428
Current tax assets	-113.4%	0	8.46	0	0	-	0
Total current assets	2.2%	1,819	1,780	1,615	1,555	1,466	1,315
Property, plant and equipment	-10.3%	688	767	660	558	443	394
Capital work-in-progress	104.2%	50	25	26	127	164	118
Investment property	-	0	0	76	79	64	31
Goodwill	0%	47	47	47	47	47	0.49
Non-current investments	5.8%	313	296	263	263	219	351
Loans, non-current	16.7%	15	13	9.19	7.78	8.5	6.29
Total non-current financial assets	5.8%	348	329	301	300	242	407
Total non-current assets	3.6%	1,283	1,239	1,185	1,188	1,044	1,013
Total assets	2.8%	3,102	3,018	2,801	2,743	2,510	2,328
Borrowings, non-current	-5000%	0.51	1.01	3.86	6.36	3.13	3.95
Total non-current financial liabilities	-100.8%	0.51	60	54	60	44	28
Provisions, non-current	6.1%	53	50	51	50	36	34
Total non-current liabilities	-6%	142	151	128	132	96	77
Borrowings, current	393.6%	5.64	1.94	7.84	5	5	5
Total current financial liabilities	10.9%	593	535	518	470	466	365
Provisions, current	28.6%	37	29	34	35	29	25
Current tax liabilities	183.1%	23	8.77	22	7.9	33	20
Total current liabilities	10.9%	692	624	623	560	575	462
Total liabilities	7.6%	834	775	751	692	671	539
Equity share capital	0%	55	55	55	55	55	55
Total equity	1.1%	2,268	2,243	2,050	2,051	1,839	1,789
Total equity and liabilities	2.8%	3,102	3,018	2,801	2,743	2,510	2,328

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Finance costs	23.5%	9.35	7.76	7.8	4.12	-	-
Change in inventories	86.7%	-2.27	-23.66	-16.33	-125.07	-	-
Depreciation	31.4%	93	71	60	53	-	-
Unrealised forex losses/gains	24.1%	0.4	0.21	-0.59	0.48	-	-
Dividend income	-111.9%	0	9.41	6.27	2.85	-	-
Adjustments for interest income	-7.1%	14	15	9.2	7.52	-	-
Share-based payments	68.8%	2.08	1.64	1.39	1.57	-	-
Net Cashflows from Operations	15.9%	585	505	479	285	-	-
Dividends received	-	-11.76	0	0	0	-	-
Income taxes paid (refund)	-16.9%	114	137	123	100	-	-
Net Cashflows From Operating Activities	24.5%	458	368	356	186	-	-
Cash payment for investment in partnership firm or association of persons or LLP	-	0	0	121	0	-	-
Proceeds from sales of PPE	-67.8%	1.76	3.36	0.8	5.69	-	-
Purchase of property, plant and equipment	-45.6%	94	172	164	126	-	-
Dividends received	30.8%	12	9.41	6.27	2.85	-	-
Interest received	27.3%	15	12	8.57	5.94	-	-
Other inflows (outflows) of cash	-428%	-146.79	-26.99	46	58	-	-
Net Cashflows From Investing Activities	-17%	-212.75	-181.68	-222.9	-53.6	-	-
Proceeds from borrowings	-89.9%	1.71	8.01	12	2.15	-	-
Repayments of borrowings	95.7%	10	5.6	5.01	0	-	-
Payments of lease liabilities	75.4%	15	8.98	6.31	6.73	-	-
Dividends paid	16.9%	188	161	133	105	-	-
Interest paid	301.4%	9.35	3.08	7.8	4.12	-	-
Other inflows (outflows) of cash	-14.5%	-2.32	-1.9	8.59	0	-	-
Net Cashflows from Financing Activities	-26.3%	-223.58	-176.77	-131.59	-113.88	-	-
Net change in cash and cash eq.	147.3%	22	9.49	1.21	18	-	-

Description	(%) Q/Q	Mar-2025	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020
Finance costs	29.2%	8.65	6.92	6.46	3.96	-	-
Change in inventories	132.4%	8.77	-22.97	9.29	-122.75	-	-
Depreciation	30.9%	90	69	55	51	-	-
Unrealised forex losses/gains	22.1%	0.4	0.23	-0.58	0.48	-	-
Dividend income	-111.9%	0	9.41	6.27	2.85	-	-
Adjustments for interest income	-7.1%	14	15	9.14	7.46	-	-
Share-based payments	68.8%	2.08	1.64	1.39	1.57	-	-
Net Cashflows from Operations	15.6%	579	501	462	285	-	-
Dividends received	-	-11.76	0	0	0	-	-
Income taxes paid (refund)	-16.9%	114	137	121	100	-	-
Net Cashflows From Operating Activities	24.5%	453	364	341	186	-	-
Proceeds from sales of PPE	-127.3%	0	0.56	0.83	5.69	-	-
Purchase of property, plant and equipment	-43.2%	93	163	139	125	-	-
Proceeds from sales of investment property	-	1.11	0	0	0	-	-
Purchase of investment property	-	0	0	205	0	-	-
Dividends received	30.8%	12	9.41	6.27	2.85	-	-
Interest received	27.3%	15	12	8.46	4.09	-	-
Other inflows (outflows) of cash	-423.2%	-146.79	-27.25	127	58	-	-
Net Cashflows From Investing Activities	-20.8%	-212.5	-175.75	-202.32	-55.22	-	-
Proceeds from borrowings	-89.9%	1.71	8.01	12	2.15	-	-
Repayments of borrowings	95.7%	10	5.6	5.01	0	-	-
Payments of lease liabilities	68.4%	14	8.72	6.14	6.54	-	-
Dividends paid	16.9%	188	161	133	105	-	-
Interest paid	466.7%	8.65	2.35	1.98	3.96	-	-
Other inflows (outflows) of cash	10.7%	0	-0.12	0	0	-	-
Net Cashflows from Financing Activities	-25.9%	-219.2	-173.89	-138.67	-113.53	-	-
Net change in cash and cash eq.	53.8%	21	14	0.06	17	-	-

Grindwell Norton Limited manufactures and sells abrasives, ceramics, and plastic products in India and internationally. It operates through Abrasives, Ceramics and Plastics, Digital Services, and Others segment. The company offers bonded abrasives in the form of wheels and other shapes, such as segments, sticks, and cones etc. for various applications, including lapping, honing, super-finishing, thread grinding, fluting, OD grinding, ID grinding, and surface and sace grinding, as well as for rough applications comprising snagging, offhand grinding, and burr removal. It also provides coated abrasives products in various shapes, such as discs, belts, wheels, and sheets and rolls for polishing and surface preparation; non-woven abrasives; super abrasives for precision applications, such as auto, bearing, steel, solar, and electronics industries; thin wheels used for cutting, deburring, and weld-removal; and cutting-edge abrasive products. In addition, the company offers silicon carbide grains primarily for use as raw material in the manufacture of abrasives, iron foundries, and refractories, as well as for stone polishing; and PCR ceramic products for use in sanitary-ware, tableware, ballistic armor protection, wear resistance systems, etc. Further, the company produces and markets performance plastics comprising bearings, seals, tubing and hoses, films, fabrics, and single use bags and assemblies for use in the automotive, oil and gas, life sciences, construction, energy, and general industrial applications. Grindwell Norton Limited was founded in 1941 and is based in Mumbai, India. Grindwell Norton Limited is a subsidiary of Compagnie de Saint-Gobain.

Industry Group:Industrial Products

Employees:2,524

Website:www.grindwellnorton.co.in

Important Disclosure & Data Context

This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.

GRINDWELL - Grindwell Norton Ltd. Share Price

GRINDWELL - Grindwell Norton Ltd. Share Price

GRINDWELL

Valuation

Fundamentals

Profitability

Price to Sales Ratio

Revenue (Last 12 mths)

Net Income (Last 12 mths)

Growth & Returns

Cash Flow & Liquidity

Balance Sheet

Capital Structure & Leverage

Dividend & Shareholder Returns

GRINDWELL

Investor Care

Financial Health

Technical Indicators

Share Holdings

Holding Pattern

Share Holding Details

Overall Distribution

Ownership Distribution

What does Grindwell Norton Ltd. do?

Important Disclosure & Data Context

GRINDWELL

Valuation

Fundamentals

Profitability

Price to Sales Ratio

Revenue (Last 12 mths)

Net Income (Last 12 mths)

Growth & Returns

Cash Flow & Liquidity

Balance Sheet

Capital Structure & Leverage

Dividend & Shareholder Returns

GRINDWELL

Investor Care

Financial Health

Technical Indicators

Share Holdings

Holding Pattern

Share Holding Details

Overall Distribution

Ownership Distribution

What does Grindwell Norton Ltd. do?

Important Disclosure & Data Context