Grindwell Norton Limited

NSE: GRINDWELL · Abrasives & Bearings

52W Range₹1,329 ₹2,455

Snapshot

Unlock Grindwell Norton Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Grindwell Norton Limited is a prominent manufacturer of abrasives, ceramics, and performance plastics in India. As a subsidiary of Compagnie de Saint-Gobain, the company provides high-precision industrial solutions for sectors including automotive, energy, and life sciences.

Business Model

The company generates revenue through the manufacturing and sale of a diverse portfolio of industrial products, including bonded and coated abrasives, silicon carbide grains, and performance plastics. It leverages its parent company's global technological expertise to serve both domestic and international markets.

  • Founded:1941

Growth Outlook

Growth is driven by increasing demand for high-precision abrasive and ceramic products across the automotive, construction, and industrial manufacturing sectors. The company continues to expand its reach through both domestic industrial growth and export opportunities.

Key Risks

  • Raw Material Price Volatility. Fluctuations in the cost of raw materials like silicon carbide and energy can significantly impact operating margins.
  • Cyclical Industrial Demand. The company's performance is closely linked to the capital expenditure cycles of the automotive and general industrial sectors.
  • Foreign Exchange Risk. As an exporter and subsidiary of a global entity, the company is exposed to currency fluctuations affecting international trade.
  • Competitive Intensity. The abrasives market faces stiff competition from both domestic players and global manufacturers, potentially pressuring pricing power.

Price

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Key Metrics

REVENUE

₹3,777 Cr

TTM · consolidated

+34.3%YoY

NET PROFIT

₹511 Cr

TTM · consolidated

+37.7%YoY

EPS

₹46.04

TTM · consolidated

+38.2%YoY

RETURN ON EQUITY

22.0%

TTM · consolidated

+4.4 ppYoY

RETURN ON CAPITAL EMPLOYED

27.8%

TTM · consolidated

+5.6 ppYoY

P/E

51.7x

Q4 FY26 · consolidated

51.7 vs 73.9x5Y avg

EV/EBITDA

32.1x

Q4 FY26 · consolidated

32.1 vs 47.5x5Y avg

EBITDA MARGIN

21.8%

TTM · consolidated

+0.7 ppYoY

NET PROFIT MARGIN

14.2%

Q4 FY26 · consolidated

+1.1 ppYoY

DEBT TO EQUITY

0.0x

Q4 FY26 · consolidated

+0.02xYoY

Peers · Abrasives & Bearings

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Grindwell Norton LimitedGRINDWELL
15,36651.7432.0634.3%21.8%22.0%27.8%+34.0%
Timken India Ltd.TIMKEN
24,07759.3236.598.6%18.7%13.8%18.1%-7.8%
Carborundum Universal Ltd.CARBORUNIV
14,599105.2731.176.4%12.5%4.6%6.7%+8.6%
SKF India Indus.SKFINDUS
10,78311.0%
SKF India Ltd.SKFINDIA
7,33927.8512.81-23.5%14.7%11.7%18.6%-68.9%
Wendt IndiaWENDT
1,338106.9640.681.1%15.9%5.9%9.2%-31.3%

As of Q4 FY26

Financials