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Grindwell Norton Limited

Grindwell Norton Limited

GRINDWELL.BO
Grindwell Norton LimitedIN flagBombay Stock Exchange
2,030.75
INR
-57.05
- -
225.98BMarket Cap
Grindwell Norton Limited
GRINDWELL.BO
(Bombay Stock Exchange)

Recent

price

2,030.75

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
71.96
81.37
84.93
87.2
101.87
103.27
113.34
128.53
142.96
141.52
147
180.83
228.07
241.03
252.8
276.41
252.53
Revenue per Share
7.47
9.3
8.79
7.58
9.32
9.5
10.78
13.52
15.11
16.48
21.6
26.7
32.69
34.65
33.3
37.54
33.42
Basic EPS, GAAP
4.88
0.81
1.9
7.23
6.12
8.91
10.53
8.61
1.57
24.13
25.55
5.51
6.42
17.66
32.91
38.23
- -
Free Cash Flow per Basic Share
2.99
3
3.25
3.25
3.25
6.5
- -
4
5
6
7.5
9.5
12
14.5
17
17
- -
Dividend per Share
36.15
9.31
11.08
13.03
19.78
20.43
33.11
41.02
50.17
59.19
73.12
90.1
110.71
130.95
146.87
167.45
- -
Book Value per Share
35.97
41.58
46.68
50.61
64.49
69.54
81.46
90.45
100.32
108.38
123.55
141.72
155.51
178.19
196.48
221.99
- -
Tangible Book Value per Share
111
111
111
111
111
111
111
111
111
111
111
111
111
111
111
111
111
Basic Weighted Avg Shares
7,968
9,009
9,403
9,655
11,279
11,434
12,549
14,231
15,829
15,669
16,275
20,021
25,252
26,686
27,989
30,604
27,959
Sales/Revenue/Turnover
15.9
15.6
13.71
11.77
12.41
12.44
12.04
14.28
14.34
13.2
16.58
17.38
17.88
16.87
15.18
15.89
14.76
Operating Margin (%)
210
214
244
318
416
426
422
448
452
578
544
535
601
709
926
1,051
971
Depreciation Expense
827
1,030
973
839
1,032
1,052
1,194
1,497
1,672
1,825
2,392
2,956
3,619
3,836
3,687
4,157
3,700
Net Income, GAAP
32.62
30.6
28.32
30.75
32.25
33.96
32.73
33.67
35.22
24.21
25.05
25.46
25.6
24.47
24.53
24.95
24.39
Effective Tax Rate (%)
10.38
11.43
10.35
8.69
9.15
9.2
9.51
10.52
10.57
11.65
14.7
14.77
14.33
14.38
13.17
13.58
13.23
Profit Margin (%)
1,753
1,401
1,359
1,872
2,882
3,001
4,135
4,834
5,704
6,466
8,114
8,893
8,812
10,030
11,661
13,595
- -
Working Capital
183
156
139
118
64
28
19
- -
- -
126
63
80
295
605
607
414
- -
LT Debt
4,061
4,670
5,234
5,655
7,174
7,729
9,043
10,029
11,118
12,009
13,770
15,800
18,169
20,668
22,695
25,499
- -
Total Equity
20.95
21.37
17.92
13.96
14.37
12.28
11.9
14
13.84
13.41
15.49
17.29
19.22
16.85
14.23
14.68
- -
Return on Invested Capital (%)
21.08
37.94
71.18
52.25
50.11
42.38
37.46
35.11
32.19
29.28
31.89
32.21
31.84
27.48
22.84
23.03
290.6
Return on Capital (%)
21.9
40.91
86.22
62.87
56.82
47.28
40.29
36.49
33.13
30.15
32.65
32.72
32.55
28.68
23.97
23.89
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'25
Mar'25
Jun'26
ST Debt
- -
229
- -
LT Borrowings
- -
10
- -
LT Finance Leases
- -
597
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
111
- -
Market Capitalization
212,662
186,659
191,173

Working Capital

FRC

•

in mil. unless spec.
Dec'25
Mar'25
Jun'26
Total Current Assets
- -
18,019
- -
Cash, Cash Equivalents & STI
- -
8,935
- -
Accounts Receivable, Net
- -
3,624
- -
Inventories
- -
4,899
- -
Total Current Liabilities
- -
6,358
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
229
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
12.71%
13.13%
12.35%
Free Cash Flow
158.17%
43.16%
16.14%
Net Income, GAAP
15.16%
12.17%
12.73%
Sales/Revenue/Turnover
10.63%
13.81%
9.34%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
6,644
6,613
6,555
6,874
26,686
2025
7,031
6,907
6,992
7,059
27,989
2026
7,001
7,498
8,388
- -
30,604

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
8.76
9.2
8.32
- -
34.65
2025
8.42
8.69
7.84
8.36
33.3
2026
8.53
8.6
10.72
- -
37.54

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
14.5
2025
- -
- -
- -
- -
17
2026
- -
- -
- -
- -
17
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Business
Grindwell Norton Limited manufactures and markets abrasives, ceramics, performance plastics, and related products in India and internationally. The company, founded in 1941 and headquartered in Mumbai, India, pioneered grinding wheels in India and operates as a subsidiary of Compagnie de Saint-Gobain S.A., which holds a 51.66% stake. It functions through segments including Abrasives, Ceramics & Plastics, Digital Services, and Others; core products encompass bonded abrasives such as grinding wheels, cutting discs, and crankshaft wheels; coated abrasives including sandpaper, abrasive belts, and paper discs; superabrasives like diamond and cubic boron nitride tools; ceramics comprising refractory bricks, ceramic filters, and high-performance ceramics for steel, cement, glass, power, and chemical industries; performance materials such as silicon carbide, fused alumina, and specialty grains for grinding, cutting, blasting, and thermal insulation; precision grinding solutions with customized wheels, machines, and tools for automotive, aerospace, bearings, and tooling sectors; as well as construction products, thin wheels, diamond core drills, wood cutter blades, and adhesive tapes via its Composite Systems unit. Grindwell Norton serves industries including automotive, aerospace, manufacturing, construction, metal fabrication, steel, and mobility, with exports accounting for about 20% of sales primarily to the USA, Europe, and Southeast Asia; it maintains manufacturing facilities across India including in Bengaluru, Jamshedpur, Nagpur, and Uran, plus a subsidiary Saint-Gobain Ceramic Materials Bhutan Pvt. Ltd. for silicon carbide production. Recent developments include the 2023 acquisition of PRS Permacel Pvt Ltd to bolster capabilities in specialty adhesive tapes, thermal insulation solutions, and composite systems for industrial, railways, metro, two-wheeler, and electric vehicle markets; a July 2025 board approval for land acquisition up to Rs 18 crore in Halol, Gujarat, to support future business expansions and operational growth; ongoing investments in research and development, such as Rs 50 crore in FY2023 for high-performance abrasives; and a new manufacturing facility launch in Karnataka in 2016 to enhance production capacity.