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Grindwell Norton

WEBSITE BSE:506076 NSE: GRIND NORTON Inc. Year: 1950 Industry: Abrasives My Bucket: Add Stock

₹1575.9 1.4 | 0.1%

Last updated: 15:53

Consolidated Standalone

Last updated: 15:53

Grindwell Norton Overview

Grindwell Norton Ltd is a holding company, which manufactures abrasives. The Company's segments are Abrasives,and Ceramics & Plastics. Its Abrasives section offers bonded abrasives in the form of wheels and other shapes, including phase and sticks, which are used for various packages starting from polishing or lapping to disposing of high quantities of substances. Bonded Abrasives are used in precision programs, inclusive of lapping, honing, superb-finishing, race grinding, thread grinding, fluting, outdoor diameter (OD) grinding, inner and int...Read More

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Grindwell Norton Key Financials

Market Cap ₹17448 Cr.

Stock P/E 47

P/B 7.3

Current Price ₹1575.9

Book Value ₹ 214.4

Face Value 5

52W High ₹1881.4

Dividend Yield 1.08%

52W Low ₹ 1330

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Grindwell Norton Share Price

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Grindwell Norton Quarterly Price

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Grindwell Norton Peer Comparison

Grindwell Norton Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 667 660 691 706 694 703 710 703 775 753
Other Income 23 14 17 16 23 18 23 24 31 19
Total Income 690 674 708 721 717 721 732 727 806 772
Total Expenditure 536 532 566 572 565 579 582 574 634 614
Operating Profit 154 142 142 149 153 141 150 154 172 158
Interest 2 2 2 2 2 2 2 2 2 2
Depreciation 17 18 20 21 23 23 25 26 26 27
Exceptional Income / Expenses 0 -0 0 0 0 0 0 0 0 0
Profit Before Tax 135 122 121 125 128 116 123 126 143 129
Provision for Tax 33 30 28 32 30 28 30 31 36 33
Profit After Tax 102 91 93 93 97 88 93 94 107 96
Adjustments -0 1 -1 0 -1 -1 -0 0 -0 -1
Profit After Adjustments 102 92 93 93 96 87 93 94 107 95
Adjusted Earnings Per Share 9.2 8.3 8.4 8.4 8.7 7.8 8.4 8.5 9.7 8.6

Grindwell Norton Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 1135 1151 1263 1431 1598 1580 1638 2013 2541 2687 2812 2941
Other Income 18 23 31 27 35 40 60 56 58 68 80 97
Total Income 1154 1173 1294 1458 1633 1620 1698 2068 2599 2755 2891 3037
Total Expenditure 955 967 1070 1184 1326 1315 1323 1614 2043 2167 2298 2404
Operating Profit 198 206 224 274 307 305 375 454 556 588 593 634
Interest 3 2 2 2 1 4 3 4 8 8 9 8
Depreciation 42 43 42 45 45 58 54 53 60 71 93 104
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 -0 0 0
Profit Before Tax 154 161 180 227 260 243 317 396 486 508 492 521
Provision for Tax 50 55 59 77 92 59 79 101 124 124 121 130
Profit After Tax 104 106 121 151 169 184 238 295 362 384 371 390
Adjustments -1 -1 -1 -1 -1 -1 1 1 0 -0 -3 -1
Profit After Adjustments 103 105 119 150 167 183 239 296 362 384 369 389
Adjusted Earnings Per Share 9.3 9.5 10.8 13.5 15.1 16.5 21.6 26.7 32.7 34.6 33.3 35.2

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 5% 12% 12% 9%
Operating Profit CAGR 1% 9% 14% 12%
PAT CAGR -3% 8% 15% 14%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -7% -6% 12% 17%
ROE Average 17% 20% 20% 18%
ROCE Average 23% 26% 26% 25%

Grindwell Norton Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 616 763 893 991 1098 1187 1365 1568 1806 2055 2255
Minority's Interest 9 10 11 12 14 14 12 12 11 12 14
Borrowings 6 3 2 0 0 0 0 0 4 6 1
Other Non-Current Liabilities 36 38 42 43 45 49 50 47 88 122 148
Total Current Liabilities 274 276 261 293 289 342 436 488 497 570 636
Total Liabilities 940 1089 1210 1339 1445 1592 1862 2116 2406 2766 3055
Fixed Assets 360 350 368 342 345 385 370 386 586 756 886
Other Non-Current Assets 64 163 167 221 241 218 245 353 442 437 367
Total Current Assets 516 576 675 776 859 989 1247 1378 1379 1573 1802
Total Assets 940 1089 1210 1339 1445 1592 1862 2116 2406 2766 3055

Grindwell Norton Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 82 114 110 238 270 232 13 19 47 38 47
Cash Flow from Operating Activities 106 139 170 134 85 318 331 187 393 368 458
Cash Flow from Investing Activities -30 -38 -44 -44 -54 -442 -230 -54 -260 -182 -213
Cash Flow from Financing Activities -46 -99 3 -60 -68 -95 -95 -114 -140 -175 -221
Net Cash Inflow / Outflow 29 2 129 29 -37 -220 7 19 -8 11 24
Closing Cash & Cash Equivalent 112 116 238 271 232 13 19 38 40 49 71

Grindwell Norton Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 9.32 9.5 10.78 13.52 15.11 16.49 21.6 26.7 32.69 34.65 33.3
CEPS(Rs) 13.17 13.45 14.73 17.68 19.32 21.83 26.38 31.48 38.08 41.08 41.9
DPS(Rs) 3.25 3.25 4 5 6 7.5 9.5 12 14.5 17 17
Book NAV/Share(Rs) 55.32 68.48 80.12 88.81 98.37 106.3 122.17 140.42 161.73 184.12 202.01
Core EBITDA Margin(%) 14.76 14.79 14.16 16.82 16.85 16.57 19 19.43 19.22 18.89 17.88
EBIT Margin(%) 12.85 13.18 13.32 15.6 16.24 15.49 19.33 19.49 19.05 18.77 17.47
Pre Tax Margin(%) 12.61 12.98 13.18 15.5 16.14 15.21 19.12 19.29 18.75 18.49 17.14
PAT Margin (%) 8.54 8.57 8.86 10.28 10.46 11.53 14.33 14.38 13.95 13.97 12.94
Cash Profit Margin (%) 11.95 12.01 11.96 13.33 13.26 15.15 17.61 16.98 16.27 16.54 16.16
ROA(%) 11.75 10.49 10.52 11.84 12.12 12.11 13.77 14.84 15.99 14.85 12.76
ROE(%) 17.86 15.52 14.7 16.13 16.28 16.23 18.8 20.3 21.61 20.05 17.37
ROCE(%) 26.16 23.32 21.73 24.3 25.17 21.69 25.19 27.32 29.15 26.53 23.16
Receivable days 32.79 38.64 34.92 37.86 43.29 46.97 44.77 39 36.42 42.33 45.78
Inventory Days 61.29 71.05 67.38 64.34 67.93 72.28 68.86 68.47 64.2 63.17 62.16
Payable days 60.37 63.53 81.93 105.48 96.59 104.18 136.23 131.14 95.35 97.04 112.65
PER(x) 37 35.52 32.8 37.35 39.29 27.87 44.09 67.39 57.36 54.81 50.63
Price/Book(x) 6.23 4.93 4.41 5.69 6.03 4.32 7.8 12.81 11.59 10.31 8.35
Dividend Yield(%) 0.94 0.96 1.13 0.99 1.01 1.63 1 0.67 0.77 0.9 1.01
EV/Net Sales(x) 3.28 3.15 2.91 3.72 3.97 3.21 6.36 9.76 8.12 7.75 6.55
EV/Core EBITDA(x) 18.76 17.61 16.44 19.43 20.63 16.64 27.77 43.23 37.14 35.44 31.05
Net Sales Growth(%) 17.59 1.34 9.8 13.27 11.68 -1.16 3.69 22.89 26.26 5.72 4.65
EBIT Growth(%) 25.41 4.34 11.14 26.02 14.39 -5.66 29.75 24.76 23.42 4.54 -2.86
PAT Growth(%) 23.42 2.1 13.63 24.81 11.82 8.99 29.28 24.12 22.52 6.21 -3.3
EPS Growth(%) 22.99 1.95 13.46 25.42 11.69 9.13 31.04 23.61 22.41 6 -3.89
Debt/Equity(x) 0.02 0.02 0.01 0 0 0 0 0 0.01 0.01 0
Current Ratio(x) 1.89 2.09 2.58 2.65 2.98 2.89 2.86 2.82 2.77 2.76 2.83
Quick Ratio(x) 1.06 1.15 1.64 1.72 1.84 2 2.12 1.9 1.84 1.9 2.06
Interest Cover(x) 53.77 67.69 90.62 149.43 174.68 55.3 93.8 97.08 63.29 66.52 53.63
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0 0 0

Grindwell Norton Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 58.03 58.03 58.03 58.03 58.03 58.03 58.03 58.03 58.03 58.03
FII 8.42 8.31 8.63 8.26 6.97 6.75 6.82 6.38 6.39 5.56
DII 15.47 15.9 16.15 16.7 18.08 18.34 18.2 18.38 18.36 19.18
Public 18.09 17.76 17.19 17.01 16.92 16.88 16.95 17.21 17.22 17.23
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Grindwell Norton News

Grindwell Norton Pros & Cons

Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Debtor days have increased from 97.04 to 112.65days.
  • Stock is trading at 7.3 times its book value.

* The pros and cons are machine generated.

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