Grindwell Norton Limited (GRINDWELL) AI Stock Analysis

• Market Cap: ₹179.38B
• Dividend Yield: 1.08%
• Average Volume (3M): 1.76K
• Price to Earnings (P/E): 48.5
• Beta (1Y): 1.37
• Revenue Growth: 3.14%
• EPS Growth: -2.59%
• Country: IN
• Employees: 2,524
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Construction
• EPS (TTM): N/A
• Shares Outstanding: 110,720,000
• 10 Day Avg. Volume: 1,335
• 30 Day Avg. Volume: 1,762
• PEG Ratio: -13.15
• Price to Book (P/B): 8.37
• Price to Sales (P/S): 6.72
• P/FCF Ratio: 51.83
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 0

• Rating: 71 Outperform
• Price Target: ₹1,806.00 ▲(14.82% Upside)

Grindwell Norton Limited's overall stock score is driven by its strong financial performance, characterized by robust revenue growth and profitability, and a stable balance sheet. However, the high P/E ratio suggests potential overvaluation, and technical indicators point to mixed market sentiment.

Grindwell Norton Limited Business Overview & Revenue Model

Company Description

Grindwell Norton Limited (GRINDWELL) is a leading manufacturer and supplier of abrasives and other related products in India. Established in 1946, the company operates in various sectors, including automotive, metalworking, construction, and woodworking. GRINDWELL's core product offerings include bonded abrasives, coated abrasives, super abrasives, and cutting tools, catering to a diverse range of industrial applications.

How the Company Makes Money

Grindwell Norton Limited generates revenue primarily through the sale of its abrasives and related products. The company's revenue model is based on direct sales to various industries, including automotive, construction, and manufacturing. Key revenue streams include the sale of bonded and coated abrasives, which are essential for cutting, grinding, and finishing materials. Additionally, GRINDWELL benefits from long-term partnerships with major players in the automotive and construction sectors, which contribute to stable demand for its products. The company also focuses on innovation and product development, which helps to maintain a competitive edge and attract new customers.

Grindwell Norton Limited Financial Statement Overview

Summary

Grindwell Norton Limited demonstrates strong financial performance with consistent revenue growth, high profitability margins, and a robust balance sheet with low leverage. The cash flow is healthy, indicating effective capital management and strong cash generation.

Income Statement

Grindwell Norton Limited has shown strong and consistent growth in revenue over the years, with a notable revenue growth rate of 4.65% from 2024 to 2025. The company maintains a healthy gross profit margin of 54.61% for 2025 and a solid net profit margin of 13.11%. Stability in EBIT margin at 42.63% further highlights operational efficiency. Despite a slight dip in net income from the previous year, overall profitability remains robust with high EBITDA margins.

Balance Sheet

The balance sheet reflects a strong financial position with a low debt-to-equity ratio of 0.04, indicating minimal leverage and financial risk. The equity ratio of 73.78% suggests a high level of asset financing through equity, enhancing financial stability. Return on equity stands at 16.34%, demonstrating efficient use of equity to generate profits. The company's strong equity base provides a buffer against potential financial fluctuations.

Cash Flow

Grindwell Norton Limited exhibits a healthy cash flow position with a significant free cash flow growth rate of 86.33% from 2024 to 2025. The operating cash flow to net income ratio of 1.24 indicates effective conversion of earnings into cash. However, the free cash flow to net income ratio of 0.99 suggests that most of the net income is converted into free cash flow, highlighting efficient capital expenditure management.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	28.09B	28.12B	26.87B	25.41B	20.13B	16.38B
Gross Profit	15.22B	15.23B	14.65B	13.65B	11.11B	9.11B
EBITDA	4.86B	4.94B	5.04B	4.99B	3.92B	3.15B
Net Income	3.70B	3.69B	3.84B	3.62B	2.96B	2.39B
Balance Sheet
Total Assets	0.00	30.57B	27.70B	24.12B	21.13B	18.65B
Cash, Cash Equivalents and Short-Term Investments	8.78B	8.81B	6.58B	5.75B	6.09B	6.51B
Total Debt	0.00	835.49M	825.96M	513.60M	150.93M	121.48M
Total Liabilities	-22.70B	7.87B	7.03B	5.95B	5.39B	4.88B
Stockholders Equity	22.70B	22.55B	20.55B	18.06B	15.68B	13.65B
Cash Flow
Free Cash Flow	0.00	3.64B	1.96B	1.92B	609.91M	2.83B
Operating Cash Flow	0.00	4.58B	3.68B	3.56B	1.87B	3.31B
Investing Cash Flow	0.00	-2.13B	-1.82B	-2.23B	-535.95M	-2.30B
Financing Cash Flow	0.00	-2.21B	-1.75B	-1.40B	-1.14B	-950.34M

Grindwell Norton Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1572.95
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GRINDWELL, the sentiment is Negative. The current price of 1572.95 is below the 20-day moving average (MA) of 1641.47, below the 50-day MA of 1610.07, and below the 200-day MA of 1664.57, indicating a bearish trend. The MACD of -5.72 indicates Positive momentum. The RSI at 35.79 is Neutral, neither overbought nor oversold. The STOCH value of 3.26 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:GRINDWELL.

Grindwell Norton Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GRINDWELL	―	₹179.38B	48.48	―	1.08%	3.14%	-2.59%
KAJARIACER	―	₹194.42B	54.67	―	0.99%	-0.24%	-4.87%
ASTRAL	―	₹388.97B	79.90	―	0.26%	1.19%	-11.41%
Sector *	―	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
SUPREMEIND	―	₹532.90B	60.06	―	0.85%	1.68%	-22.27%
FINPIPE	―	₹118.45B	29.70	―	1.05%	-5.47%	-53.73%

Grindwell Norton Limited Corporate Events

Grindwell Norton Ensures Compliance with SEBI Regulations

Grindwell Norton Limited has reported to the exchange about the compliance with SEBI (Depositories and Participants) Regulations, 2018, specifically regarding the dematerialization and rematerialization of securities for the quarter ending September 30, 2025. This announcement ensures transparency and adherence to regulatory requirements, which is crucial for maintaining investor confidence and the company’s standing in the market.

Grindwell Norton Launches ‘Saksham Niveshak’ Campaign

Grindwell Norton Limited has announced the launch of the ‘Saksham Niveshak’ campaign, as reported in newspaper advertisements in Financial Express and Loksatta. This initiative reflects the company’s commitment to enhancing investor engagement and transparency, potentially strengthening its market position and stakeholder relations.