GRINDWELL - Grindwell Norton Ltd. Share Price

Industrial Products

₹1550.30-4.10(-0.26%)

Market Closed as of Sep 29, 2025, 15:30 IST

Select time range

Valuation
Market Cap	17.16 kCr
Price/Earnings (Trailing)	46.39
Price/Sales (Trailing)	5.92
EV/EBITDA	28.61
Price/Free Cashflow	47.1
MarketCap/EBT	34.91
Enterprise Value	17.1 kCr

Fundamentals
Revenue (TTM)	2.9 kCr
Rev. Growth (Yr)	0.80%
Earnings (TTM)	372.34 Cr
Earnings Growth (Yr)	1.1%

Profitability
Operating Margin	17%
EBT Margin	17%
Return on Equity	16.41%
Return on Assets	12.18%
Free Cashflow Yield	2.12%

Price to Sales Ratio

Latest reported: 6

Revenue (Last 12 mths)

Latest reported: 3 kCr

Net Income (Last 12 mths)

Latest reported: 372 Cr

Growth & Returns
Price Change 1W	-5.4%
Price Change 1M	-0.80%
Price Change 6M	-7.4%
Price Change 1Y	-35.4%
3Y Cumulative Return	-9.1%
5Y Cumulative Return	23.2%
7Y Cumulative Return	17.4%
10Y Cumulative Return	15.5%

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	71.28 Cr
Free Cash Flow (TTM)	364.43 Cr
Free Cash Flow/Share (TTM)	32.91

Balance Sheet
Total Assets	3.06 kCr
Total Liabilities	787.25 Cr
Shareholder Equity	2.27 kCr
Current Assets	1.81 kCr
Current Liabilities	635.78 Cr
Net PPE	792.24 Cr
Inventory	489.88 Cr
Goodwill	46.79 Cr

Capital Structure & Leverage
Debt Ratio	0.00
Debt/Equity	0.00
Interest Coverage	53.31
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%

Pros

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

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

Balance Sheet: Strong Balance Sheet.

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

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

Cons

Technicals: SharesGuru indicator is Bearish.

Past Returns: Underperforming stock! In past three years, the stock has provided -9.1% return compared to 11.2% by NIFTY 50.

Momentum: Stock has a weak negative price momentum.

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)	33.42

Financial Health
Current Ratio	2.85
Debt/Equity	0.00

Technical Indicators
RSI (14d)	45.63
RSI (5d)	18.3
RSI (21d)	50.72
MACD Signal	Sell
Stochastic Oscillator Signal	Hold
Grufity Signal	Sell
RSI Signal	Hold
RSI5 Signal	Buy
RSI21 Signal	Hold
SMA 5 Signal	Sell
SMA 10 Signal	Sell
SMA 20 Signal	Sell
SMA 50 Signal	Sell
SMA 100 Signal	Sell

Summary of Latest Earnings Report from Grindwell Norton

Summary of Grindwell Norton's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.

Earnings Outlook

Last updated:

Q&A Session

Last updated:

Revenue Breakdown

Analysis of Grindwell Norton's financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.

Revenue

Last Updated: Jun 30, 2025

Description	Share	Value
Abrasives	49.4%	351.6 Cr
Ceramics and Plastics	41.9%	297.9 Cr
Digital Services	7.2%	50.9 Cr
Others	1.5%	10.9 Cr
Total		711.4 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 Magnum Midcap Fund	8.13%
Uti-Flexi Cap Fund	2.06%
Vera Anand Mahajan	1.71%
Khursheed M Narang	1.34%
Icici Prudential Smallcap Fund	1.32%
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%
Mikhil M Narang	0%

Overall Distribution

Distribution across major stakeholders

Ownership Distribution

Distribution across major institutional holders

Is Grindwell Norton Better than it's peers?

Detailed comparison of Grindwell Norton against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.

Ticker	Name	Mkt Cap	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
AIAENG	AIA Engineering	28.58 kCr	4.66 kCr	+0.20%	-28.60%	25.89	6.13	-	-
CARBORUNIV	Carborundum Universal	17.36 kCr	4.97 kCr	0.00%	-39.20%	70.53	3.5	-	-
WENDT	Wendt (India)	1.77 kCr	245.34 Cr	-9.60%	-39.30%	49.85	7.23	-	-
HINDCOMPOS	Hindustan Composites	665.86 Cr	344.01 Cr	-1.30%	-20.10%	19.7	1.94	-	-

Sector Comparison: GRINDWELL vs Industrial Products

Comprehensive comparison against sector averages

Comparative Metrics

GRINDWELL metrics compared to Industrial

Category	GRINDWELL	Industrial
PE	46.51	34.00
PS	5.94	2.57
Growth	3.7 %	7.8 %

Performance Comparison

GRINDWELL vs Industrial (2021 - 2025)

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.

Income Statement for Grindwell Norton

Consolidated figures (in Rs. Crores) / View Standalone Data

AnnualQuarterly

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	Jun-2025	Mar-2025	Dec-2024	Sep-2024	Jun-2024	Mar-2024
Revenue From Operations	-1%	703	710	703	694	706	691
Other Income	4.5%	24	23	18	23	16	17
Total Income	-0.7%	727	732	721	717	721	708
Cost of Materials	9.2%	239	219	227	232	227	213
Purchases of stock-in-trade	34.6%	110	82	85	89	91	90
Employee Expense	2.4%	85	83	82	82	90	90
Finance costs	-22.7%	2.16	2.5	2.1	2.29	2.46	1.87
Depreciation and Amortization	4.2%	26	25	23	23	21	20
Other expenses	-2.9%	169	174	174	175	162	161
Total Expenses	-1.3%	602	610	605	590	596	588
Profit Before exceptional items and Tax	2.5%	126	123	116	128	125	121
Exceptional items before tax	-	0	0	0	0	0	0
Total profit before tax	2.5%	126	123	116	128	125	121
Current tax	19.2%	32	27	27	30	31	26
Deferred tax	-174.1%	-0.17	2.58	1.18	0.23	1.42	1.52
Total tax	3.4%	31	30	28	30	32	28
Total profit (loss) for period	1.1%	94	93	88	97	93	93
Other comp. income net of taxes	162.7%	3.4	-2.83	20	0	0	26
Total Comprehensive Income	9%	98	90	108	97	93	118
Earnings Per Share, Basic	2.3%	8.53	8.36	7.84	8.69	8.42	8.36
Earnings Per Share, Diluted	2.3%	8.53	8.36	7.84	8.69	8.42	8.36

Standalone figures (in Rs. Crores) / View Consolidated Data

AnnualQuarterly

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	Jun-2025	Mar-2025	Dec-2024	Sep-2024	Jun-2024	Mar-2024
Revenue From Operations	0.4%	694	691	683	672	691	681
Other Income	4.5%	24	23	18	23	16	17
Total Income	0.6%	718	714	701	695	707	699
Cost of Materials	10.7%	239	216	219	224	221	216
Purchases of stock-in-trade	34.6%	110	82	85	89	91	90
Employee Expense	2.5%	84	82	81	82	89	89
Finance costs	-18.9%	2.07	2.32	1.93	2.11	2.29	1.67
Depreciation and Amortization	4.3%	25	24	23	22	21	19
Other expenses	-2.4%	163	167	165	166	156	159
Total Expenses	-0.5%	592	595	589	571	584	577
Profit Before exceptional items and Tax	5.9%	126	119	112	124	123	122
Exceptional items before tax	-	0	0	0	0	0	0
Total profit before tax	5.9%	126	119	112	124	123	122
Current tax	24%	32	26	27	30	31	26
Deferred tax	-330.8%	-0.2	1.52	1.18	0.23	0.67	1.96
Total tax	11.1%	31	28	28	30	31	28
Total profit (loss) for period	3.3%	94	91	84	94	92	94
Other comp. income net of taxes	162.3%	3.4	-2.85	20	0	0	26
Total Comprehensive Income	11.5%	98	88	104	94	92	119
Earnings Per Share, Basic	3.9%	8.53	8.25	7.55	8.49	8.3	8.44
Earnings Per Share, Diluted	3.9%	8.53	8.25	7.55	8.49	8.3	8.44

Balance Sheet for Grindwell Norton

Consolidated figures (in Rs. Crores) / View Standalone Data

Description	(%) Q/Q	Mar-2025	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022
Cash and cash equivalents	105.9%	71	35	49	117	40	28
Current investments	27.6%	616	483	447	340	435	452
Loans, current	-24.1%	1.6	1.79	1.54	1.07	1.12	3.42
Total current financial assets	10.5%	1,271	1,150	1,041	960	865	769
Inventories	-1.4%	490	497	488	482	464	496
Current tax assets	-	8.46	-	0	0	0	0
Total current assets	9.9%	1,810	1,647	1,573	1,490	1,379	1,325
Property, plant and equipment	16%	792	683	582	457	440	416
Capital work-in-progress	-4%	25	26	127	172	124	42
Investment property	-101.3%	0	76	80	65	51	59
Goodwill	0%	47	47	47	47	47	47
Non-current investments	14.6%	260	227	227	198	198	190
Loans, non-current	46.5%	13	9.19	7.78	8.5	6.29	6.91
Total non-current financial assets	7.7%	294	273	264	222	255	257
Total non-current assets	4.4%	1,246	1,193	1,196	1,051	1,033	921
Total assets	7.6%	3,057	2,840	2,770	2,541	2,412	2,246
Borrowings, non-current	-99.7%	1.01	3.86	6.36	3.13	3.95	0
Total non-current financial liabilities	13.2%	61	54	60	45	29	18
Provisions, non-current	-2%	50	51	50	36	34	35
Total non-current liabilities	18.1%	151	128	132	97	79	68
Borrowings, current	-55.8%	6.31	13	12	20	14	16
Total current financial liabilities	2.4%	546	533	479	478	412	456
Provisions, current	-17.6%	29	35	35	29	25	32
Current tax liabilities	-57.9%	9.84	22	7.9	33	25	21
Total current liabilities	-0.9%	636	642	570	588	516	548
Total liabilities	2.2%	787	770	703	685	595	616
Equity share capital	0%	55	55	55	55	55	55
Non controlling interest	8.3%	14	13	11	12	11	12
Total equity	9.7%	2,270	2,070	2,067	1,856	1,817	1,630
Total equity and liabilities	7.6%	3,057	2,840	2,770	2,541	2,412	2,246

Standalone figures (in Rs. Crores) / View Consolidated Data

Description	(%) Q/Q	Mar-2025	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022
Cash and cash equivalents	109.1%	70	34	48	116	33	23
Current investments	27.6%	616	483	447	341	435	452
Loans, current	-24.1%	1.6	1.79	1.53	1.07	27	16
Total current financial assets	18.4%	1,265	1,069	1,038	956	845	740
Inventories	-2.5%	465	477	474	465	428	457
Current tax assets	-	8.46	0	0	-	0	-
Total current assets	10.2%	1,780	1,615	1,555	1,466	1,315	1,254
Property, plant and equipment	16.2%	767	660	558	443	394	385
Capital work-in-progress	-4%	25	26	127	164	118	41
Investment property	-101.3%	0	76	79	64	31	22
Goodwill	0%	47	47	47	47	0.49	0.49
Non-current investments	12.6%	296	263	263	219	351	343
Loans, non-current	46.5%	13	9.19	7.78	8.5	6.29	4.79
Total non-current financial assets	9.3%	329	301	300	242	407	407
Total non-current assets	4.6%	1,239	1,185	1,188	1,044	1,013	901
Total assets	7.8%	3,018	2,801	2,743	2,510	2,328	2,154
Borrowings, non-current	-99.7%	1.01	3.86	6.36	3.13	3.95	0
Total non-current financial liabilities	11.3%	60	54	60	44	28	16
Provisions, non-current	-2%	50	51	50	36	34	28
Total non-current liabilities	18.1%	151	128	132	96	77	60
Borrowings, current	-86.3%	1.94	7.84	5	5	5	6.87
Total current financial liabilities	3.3%	535	518	470	466	365	409
Provisions, current	-15.2%	29	34	35	29	25	31
Current tax liabilities	-63%	8.77	22	7.9	33	20	18
Total current liabilities	0.2%	624	623	560	575	462	487
Total liabilities	3.2%	775	751	692	671	539	546
Equity share capital	0%	55	55	55	55	55	55
Total equity	9.4%	2,243	2,050	2,051	1,839	1,789	1,608
Total equity and liabilities	7.8%	3,018	2,801	2,743	2,510	2,328	2,154

Cash Flow for Grindwell Norton

Consolidated figures (in Rs. Crores) / View Standalone Data

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	-	-

Standalone figures (in Rs. Crores) / View Consolidated Data

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	-	-

What does Grindwell Norton Ltd. do?

Abrasives & Bearings •Capital Goods•Small Cap

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

GRINDWELL - Grindwell Norton Ltd. Share Price

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

Investor Care

Financial Health

Technical Indicators

Share Holdings

Holding Pattern

Share Holding Details

Overall Distribution

Ownership Distribution

What does Grindwell Norton Ltd. do?