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Grindwell Norton Limited
(GRINDWELL)
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Rating:71Outperform
Price Target:
₹2,681.00
▲(23.90% Upside)
Action:Reiterated
Date:07/17/26
The score is primarily supported by strong financial health (very low leverage and solid profitability/cash flow), which provides resilience. This is partially offset by a premium valuation (high P/E and low yield) and only moderate technical momentum despite the clear longer-term uptrend. Recent margin compression is a key risk to monitor.
Positive Factors
Very Conservative Balance Sheet
Minimal leverage limits solvency risk and interest burdens, giving Grindwell Norton financial flexibility to fund capacity, product development and working capital through industrial cycles.
Negative Factors
Margin Compression
Sustained margin pressure could indicate weaker pricing, unfavorable product mix or higher input costs. If persistent, it would reduce earnings quality and limit the benefit of ongoing revenue expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Very Conservative Balance Sheet
Minimal leverage limits solvency risk and interest burdens, giving Grindwell Norton financial flexibility to fund capacity, product development and working capital through industrial cycles.
Read all positive factors
Grindwell Norton Limited (GRINDWELL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹217.24B
Dividend Yield0.97%
Average Volume (3M)2.50K
Price to Earnings (P/E)49.8
Beta (1Y)1.46
Revenue Growth12.94%
EPS Growth17.92%
CountryIN
Employees4,863
SectorGeneral
Sector StrengthN/A
IndustryIndustrial - Specialties
Share Statistics
EPS (TTM)39.40
Shares Outstanding110,720,000
10 Day Avg. Volume1,623
30 Day Avg. Volume2,503
Financial Highlights & Ratios
PEG Ratio2.83
Price to Book (P/B)5.91
Price to Sales (P/S)4.88
P/FCF Ratio33.33
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)44.03
Revenue Forecast (FY)₹34.87B
Grindwell Norton Limited Business Overview & Revenue Model
Company Description
Grindwell Norton Limited manufactures and sells abrasives, ceramics, and plastic products in India and internationally. It operates through Abrasives, Ceramics & Plastics, Digital Services, and Others segments. The company offers abrasives, includ...
How the Company Makes Money
GRINDWELL generates revenue primarily by manufacturing and selling abrasives and surface-finishing consumables that customers use repeatedly in production and maintenance, creating recurring demand tied to industrial output. Key revenue streams in...
Grindwell Norton Limited Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
90
Very Positive
Cash Flow
78
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 31.70B | 30.73B | 28.12B | 26.87B | 25.41B | 20.13B |
| Gross Profit | 13.59B | 11.94B | 15.23B | 14.65B | 13.65B | 11.11B |
| EBITDA | 6.97B | 6.69B | 4.94B | 5.04B | 4.99B | 3.92B |
| Net Income | 4.36B | 4.16B | 3.69B | 3.84B | 3.62B | 2.96B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 34.38B | 30.57B | 27.70B | 24.12B | 21.13B |
| Cash, Cash Equivalents and Short-Term Investments | 11.56B | 11.58B | 8.81B | 6.58B | 5.75B | 6.09B |
| Total Debt | 0.00 | 607.13M | 835.49M | 825.96M | 513.60M | 150.93M |
| Total Liabilities | -25.50B | 8.88B | 7.87B | 7.03B | 5.95B | 5.39B |
| Stockholders Equity | 25.50B | 25.35B | 22.55B | 20.55B | 18.06B | 15.68B |
Cash Flow | ||||||
| Free Cash Flow | 1.24B | 4.50B | 3.64B | 1.96B | 1.92B | 609.91M |
| Operating Cash Flow | 2.04B | 5.68B | 4.58B | 3.68B | 3.56B | 1.87B |
| Investing Cash Flow | -263.11M | -3.44B | -2.13B | -1.82B | -2.23B | -535.95M |
| Financing Cash Flow | -1.97B | -2.13B | -2.21B | -1.75B | -1.40B | -1.14B |
Grindwell Norton Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ₹254.41B | 41.69 | ― | 0.66% | 10.19% | 12.02% | |
75 Outperform | ₹235.05B | 55.71 | ― | 0.16% | 13.01% | -7.32% | |
72 Outperform | ₹203.42B | 45.22 | ― | 0.42% | 15.94% | 23.70% | |
71 Outperform | ₹217.24B | 49.81 | ― | 0.97% | 12.94% | 17.92% | |
68 Neutral | ₹239.72B | 70.08 | ― | 0.37% | 18.48% | 11.21% | |
60 Neutral | ₹215.45B | 102.97 | ― | 0.35% | 10.14% | -13.46% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
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Grindwell Norton Limited Corporate Events
Grindwell Norton Details Proceedings of 76th Virtual AGM
Jul 25, 2026
Grindwell Norton Limited held its 76th Annual General Meeting on July 24, 2026, conducted via video conferencing and other audio-visual means in line with Ministry of Corporate Affairs and SEBI circulars. The meeting confirmed quorum, introduced t...
Grindwell Norton Files Voting Results and Scrutinizer Report for 76th AGM
Jul 24, 2026
Grindwell Norton Limited informed stock exchanges that it held its 76th Annual General Meeting on July 24, 2026, where all business outlined in the AGM notice was transacted, and four resolutions were passed. The company submitted the statutory vo...
Grindwell Norton Announces 76th AGM, Dividend Details and Record Date
Jun 24, 2026
Grindwell Norton Limited has notified stock exchanges that it has published a newspaper advertisement announcing its 76th Annual General Meeting, along with related dividend information and the record date for determining eligible shareholders. Th...
Grindwell Norton Signs Renewable Energy Agreements to Power Operations
May 27, 2026
Grindwell Norton Limited has formalised agreements to source renewable energy by signing a Share Subscription and Shareholders’ Agreement with Sunsure Energy Private Limited and Murli Solar Energy Private Limited. The company has also entere...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.