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Grindwell Norton Ltd

Updated on January 20, 2020

Stock/Share Code - GRINDWELL

Grindwell Norton is a holding company, which manufactures abrasives. The Company's segments include Abrasives, and Ceramics & Plastics. Its Abrasives segment offers bonded abrasives in the form of whe...Read more

Below is the details of GRINDWELL Grindwell Norton Ltd

Market Cap₹6,315 Cr.
Current Price ₹567.9 as on 10 Dec 19
52 Week High / Low Price₹672 / ₹480.4
Face Value₹5
Stock P/E36.01
Book Value₹99.43
Dividend Yield1.05 %
ROCE22.97 %
ROE14.78 %
Sales Growth (3yrs)11.64 %
SectorCapital Goods-Non Electrical Equipment
IndustryAbrasives And Grinding Wheels
Listed onBSE  AND  NSE
Company WebsiteCompany Website
Pros: Company is virtually debt free. Company has been maintaining a healthy dividend payout of 38.78%
Cons: The company has delivered a poor growth of 10.72% over past five years.

Grindwell Norton Ltd Price Chart

Grindwell Norton Ltd Price Chart

Grindwell Norton Ltd Peer Comparison in Capital Goods-Non Electrical Equipment

S.No. Name CMP Rs. P/E Mar Cap Rs.Cr. Div Yld % NP Qtr Rs.Cr. Qtr Profit Var % Qtr Sales Var % Sales Qtr Rs.Cr. ROCE %
1. Grindwell Norton 36.01 ₹6,315.47 Cr. 1.05 ₹51.84 Cr. 29.63 -4.89 387.90 22.97
2. Carborundum Uni. ₹320.3 26.13 ₹6,213.12 Cr. 0.84 ₹64.5 Cr. -0.52 3.74 684.25 21.45
3. Wendt India ₹2,804.3 42.46 ₹596.6 Cr. 1.01 ₹5.01 Cr. 8.91 3.48 43.06 17.83
4. Orient Abrasives ₹16.05 9.78 ₹208.7 Cr. 1.43 ₹6.02 Cr. 123.79 49.07 81.51 11.34
5. Welcast Steels ₹8.3 21.22 ₹31.62 Cr. 0.51 ₹0.11 Cr. -81.97 -46.90 39.06 8.78

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Grindwell Norton Ltd Fundamentals

Quarterly Results

Quarterly reports are issued by companies every three months. Most companies have a financial year-end of Mar. 31 and quarters that end on June 30, Sept. 30, Dec. 31 and March 31.

Standalone Figures in Rs. Crores

Dec 2016Mar 2017Jun 2017Sep 2017Dec 2017Mar 2018Jun 2018Sep 2018Dec 2018Mar 2019Jun 2019Sep 2019
YOY Sales Growth %15.09%4.7%9.07%11.52%16.21%17.6%12.9%20%8.29%5.62%8.89%-4.89%
Material Cost %46.74%45.66%45.31%45.79%44.97%47.04%43.66%47.8%47.28%46.81%47.68%47.31%
Employee Cost %14.26%14.05%13.91%13.63%12.52%9.86%12.92%11.88%12.07%11.57%12.53%13.12%
Operating Profit415049556270666861646863
OPM %13%15%15%16%17%19%18%17%16%16%17%16%
Other Income9878779512111211
Profit before tax414745535866656362636559
Tax %35%30%35%34%32%34%35%36%34%36%35%13%
Net Profit273329353944424041414252
EPS in Rs2.402.962.643.153.563.953.833.623.673.683.804.68

Profit & Loss

The profit and loss (P&L) statement is a financial statement that summarizes the revenues, costs and expenses incurred during a specified period, usually a fiscal quarter or year. The P&L statement is synonymous with the income statement. These records provide information about a company's ability or inability to generate profit" by increasing revenue, reducing costs or both. Some refer to the P&L statement as a statement of profit and loss, income statement, statement of operations, statement of financial results or income, earnings statement or expense statement.

Standalone Figures in Rs. Crores

Dec 2007Dec 2008Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019TTM
Sales Growth %18.21%13.9%39.88%13.44%13.79%4.25%-0.37%17.92%1.41%9.81%13.66%11.49%%
Material Cost %39.46%42.38%44.38%44.29%44.84%47.34%45.94%45.29%45.94%46.51%45.8%46.43%%
Manufacturing Cost %14.37%14.73%12.37%13.16%11.71%11.17%17.04%11.07%9.71%8.5%8.29%9.05%%
Employee Cost %11.99%11.72%12.08%10.58%10.46%11.03%11.91%11.76%12.99%13.6%12.4%12.1%%
Other Cost %17.59%17.03%14.64%15.51%16.18%15.27%11.15%17.01%16.44%16.77%16.69%15.88%%
Operating Profit7371116131152144131165168181236259255
OPM %17%14%17%16%17%15%14%15%15%15%17%17%16%
Other Income99233211141315202533293845
Profit before tax15979130126149136120149155173222253250
Tax %16%30%33%32%30%28%31%32%34%33%34%35%
Net Profit1345588861049882101102116147164175
EPS in Rs11.384.635.937.258.838.276.898.478.5710.4813.2914.8015.83
Dividend Payout %33%40%38%39%35%37%44%36%35%38%38%41%

Compounded Sales Growth

  • 10 Years:: 12.05%
  • 5 Years:: 10.72%
  • 3 Years:: 11.64%
  • TTM:: 4.23%

Compounded Profit Growth

  • 10 Years:: 10.90%
  • 5 Years:: 13.30%
  • 3 Years:: 15.79%
  • TTM:: 5.95%

Return on Equity

  • 10 Years:: 23.30%
  • 5 Years:: 15.20%
  • 3 Years:: 19.83%
  • 1 Year:: 16.14%

Balance Sheet

A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure. It is a financial statement that provides a snapshot of what a company owns and owes, as well as the amount invested by shareholders. It is used alongside other important financial statements such as the income statement and statement of cash flows in conducting fundamental analysis or calculating financial ratios.

Standalone Figures in Rs. Crores

Dec 2007Dec 2008Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Sep 2019
Share Capital28282828282828282855555555
Equity Capital27.6827.6827.6827.6827.6827.6827.6827.6827.6855.3655.3655.3655.36
Other Liabilities161155178202261242258301309313353351372
Trade Payables35.9541.5357.6256.8671.6861.7172.3385.684.03164.01191.7186.61190.7
Total Liabilities4434645366067277638199201,0741,2041,3361,4381,473
Fixed Assets137158182187197286338327322341317321352
Gross Block225.64258.24295.92316.07341.62447.06522.13544.28359.09417.94434.74480.44
Accumulated Depreciation88.86100.46113.58129.23144.56160.93184.57217.5336.7876.51117.99159.16
Other Assets206220296354403366422531583691805872874
Trade receivables82.4570.784.9991.3295.4695.3385.75125.71126.37123.42173.24201.98215.19
Cash Equivalents21.5616.5281.9694.6973.1455.4884.38113.11123.88242.34269.64230.04229.86
Loans n Advances31.5531.7835.930.4642.6245.1358.5757.871.6475.0373.2791.6914.33
Other Assets etc00012.9331.9317.114.9521.8714.2914.9925.1227.4882.41
Total Assets4434645366067277638199201,0741,2041,3361,4381,473

Cash Flows

Cash flow is the net amount of cash and cash-equivalents being transferred into and out of a business. At the most fundamental level, a company’s ability to create value for shareholders is determined by its ability to generate positive cash flows, or more specifically, maximize long-term free cash flow.

Standalone Figures in Rs. Crores

Dec 2007Dec 2008Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019
Cash from Operating Activity274810778111101969813116112482
Profit from operations85.9387.95145.07137.84160.86153.27143.72180.44185.24205.11248.74280.98
Working Capital Changes-31.17-11.632.89-22.05-10.23-15.43-16.07-31.71-5.912.36-53.44-107.95
Taxes paid-27.58-28.65-40.59-37.59-40.08-37.28-31.52-50.63-48.1-56.71-71.03-91.15
Cash from Investing Activity27-25-37-27-93-76-25-29-37-43-40-53
Fixed Assets Purchased-42.7-36.72-32.53-28.66-106.58-73.51-24.3-36.55-39.67-51.8-36.59-65.97
Fixed Assets Sold0.540.660.370.
Investments purchased-20-0.52-6.01-3-0.74-5.83-4.310-50-20-5
Investments sold1.8320.831.361.498.650.641.423.586.477.9611.4417.18
Cash from Financing Activity-36-37-26-39-39-42-43-40-957-57-68
Proceeds from Borrowings1.6300000000000
Repayment of Borrowings0-0.1700000000-2.720
Interest Paid-0.29-0.6-0.25-0.28-0.36-0.59-0.45-0.56-0.69-1.1-1.05-1.48
Dividends Paid-30.68-32.79-22.09-33.13-33.22-35.99-35.98-35.98-71.970-44.29-55.36
Net Cash Flow19-144413-22-182929-112528-40

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Dec 2007Dec 2008Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019
ROCE %35%27%37%33%34%28%22%25%22%20%23%23%
Debtor Days685144423837334141364547
Inventory Turnover7.345.877.237.306.376.045.685.684.905.135.635.37

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