About
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, including bonded and coated abrasives, non-woven abrasives, thin wheels, construction products, automotive aftermarket, adhesives and sealants, performance grinding products; life science solutions, such as biopharmaceutical systems, medical components, cell therapy solutions, and industrial and consumer solutions; and performance polymer solutions, including engineered components, tape solutions, and ADFORS. It also provides performance ceramics and refractories solutions comprising ceramic systems, wear resistance technology, specialty ceramic for energy, iron and steel, foundry, and non-ferrous industries; silicon carbide crude and grains, including ceramic foam filters for metallurgy, crucible, abrasive, refractory, and advanced materials applications; and design and commissioning solutions. The company serves construction and mobility industries. Grindwell Norton Limited was founded in 1941 and is based in Mumbai, India. Grindwell Norton Limited is a subsidiary of Compagnie de Saint-Gobain S.A.
Key Metrics
as of Sep 2026Market Cap21,727 Cr
P/E49.80
Div Yield0.97 %
Book Value₹229.00
52w High₹2,464.00
52w Low₹1,329.00
Face Value₹5.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 803.00 | 842.00 | 753.00 | 775.00 | 703.00 | 710.00 | 703.00 | 694.00 | 706.00 | 691.00 | 660.00 | 667.00 | 668.00 |
| Expenses | 646.00 | 678.00 | 614.00 | 634.00 | 574.00 | 582.00 | 579.00 | 565.00 | 572.00 | 567.00 | 532.00 | 536.00 | 534.00 |
| Operating Profit | 157.00 | 164.00 | 139.00 | 141.00 | 130.00 | 127.00 | 123.00 | 129.00 | 133.00 | 125.00 | 128.00 | 131.00 | 135.00 |
| OPM % | 20.00 | 19.00 | 18.00 | 18.00 | 18.00 | 18.00 | 18.00 | 19.00 | 19.00 | 18.00 | 19.00 | 20.00 | 20.00 |
| Other Income | 25.00 | 21.00 | 19.00 | 31.00 | 24.00 | 23.00 | 18.00 | 23.00 | 16.00 | 17.00 | 14.00 | 23.00 | 15.00 |
| Depreciation | 27.00 | 26.00 | 27.00 | 26.00 | 26.00 | 25.00 | 23.00 | 23.00 | 21.00 | 20.00 | 18.00 | 17.00 | 17.00 |
| Interest | 1.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 |
| Profit before tax | 154.00 | 158.00 | 128.00 | 143.00 | 126.00 | 123.00 | 116.00 | 128.00 | 125.00 | 120.00 | 122.00 | 135.00 | 130.00 |
| Tax % | 25.00 | 24.00 | 26.00 | 25.00 | 25.00 | 24.00 | 24.00 | 24.00 | 26.00 | 23.00 | 25.00 | 24.00 | 26.00 |
| Net Profit | 115.00 | 119.00 | 96.00 | 107.00 | 94.00 | 93.00 | 88.00 | 97.00 | 93.00 | 93.00 | 92.00 | 102.00 | 97.00 |
| EPS in Rs | 10.43 | 10.72 | 8.60 | 9.65 | 8.53 | 8.36 | 7.84 | 8.69 | 8.41 | 8.36 | 8.32 | 9.20 | 8.76 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,073.00 | 2,812.00 | 2,687.00 | 2,541.00 | 2,013.00 | 1,638.00 | 1,580.00 | 1,598.00 | 1,431.00 | 1,263.00 | 1,151.00 | 1,135.00 |
| Expenses | 2,497.00 | 2,297.00 | 2,167.00 | 2,040.00 | 1,612.00 | 1,314.00 | 1,315.00 | 1,326.00 | 1,183.00 | 1,070.00 | 966.00 | 954.00 |
| Operating Profit | 576.00 | 515.00 | 520.00 | 501.00 | 400.00 | 324.00 | 265.00 | 272.00 | 248.00 | 193.00 | 184.00 | 181.00 |
| OPM % | 19.00 | 18.00 | 19.00 | 20.00 | 20.00 | 20.00 | 17.00 | 17.00 | 17.00 | 15.00 | 16.00 | 16.00 |
| Other Income | 93.00 | 79.00 | 67.00 | 53.00 | 53.00 | 51.00 | 40.00 | 35.00 | 26.00 | 31.00 | 22.00 | 17.00 |
| Interest | 8.00 | 9.00 | 8.00 | 8.00 | 4.00 | 3.00 | 4.00 | 2.00 | 2.00 | 2.00 | 2.00 | 3.00 |
| Depreciation | 105.00 | 93.00 | 71.00 | 60.00 | 53.00 | 54.00 | 58.00 | 45.00 | 45.00 | 42.00 | 43.00 | 42.00 |
| Profit before tax | 555.00 | 492.00 | 508.00 | 486.00 | 396.00 | 317.00 | 243.00 | 260.00 | 227.00 | 180.00 | 161.00 | 154.00 |
| Tax % | 25.00 | 25.00 | 24.00 | 26.00 | 25.00 | 25.00 | 24.00 | 35.00 | 34.00 | 33.00 | 34.00 | 32.00 |
| Net Profit | 417.00 | 371.00 | 384.00 | 362.00 | 295.00 | 238.00 | 184.00 | 169.00 | 151.00 | 121.00 | 106.00 | 104.00 |
| EPS in Rs | 37.54 | 33.30 | 34.65 | 32.69 | 26.70 | 21.60 | 16.48 | 15.10 | 13.53 | 10.78 | 9.51 | 9.32 |
| Dividend Payout % | 51.00 | 51.00 | 49.00 | 44.00 | 45.00 | 44.00 | 46.00 | 40.00 | 37.00 | 37.00 | 34.00 | 35.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 55.00 | 55.00 | 55.00 | 55.00 | 55.00 | 55.00 | 55.00 | 55.00 | 55.00 | 55.00 | 28.00 | 28.00 |
| Reserves | 2,479.00 | 2,200.00 | 2,000.00 | 1,750.00 | 1,513.00 | 1,309.00 | 1,132.00 | 1,043.00 | 935.00 | 838.00 | 735.00 | 588.00 |
| Borrowings | 61.00 | 84.00 | 83.00 | 51.00 | 15.00 | 12.00 | 0.00 | 0.00 | 0.00 | 8.00 | 15.00 | 15.00 |
| Other Liabilities | 840.00 | 716.00 | 628.00 | 549.00 | 532.00 | 485.00 | 404.00 | 347.00 | 349.00 | 309.00 | 311.00 | 309.00 |
| Total Liabilities | 3,436.00 | 3,055.00 | 2,766.00 | 2,406.00 | 2,116.00 | 1,862.00 | 1,592.00 | 1,445.00 | 1,339.00 | 1,210.00 | 1,089.00 | 940.00 |
| Fixed Assets | 887.00 | 886.00 | 756.00 | 586.00 | 386.00 | 370.00 | 385.00 | 345.00 | 342.00 | 368.00 | 350.00 | 360.00 |
| CWIP | 52.00 | 26.00 | 128.00 | 124.00 | 67.00 | 24.00 | 29.00 | 43.00 | 25.00 | 6.00 | 14.00 | 7.00 |
| Investments | 999.00 | 892.00 | 689.00 | 642.00 | 531.00 | 713.00 | 583.00 | 183.00 | 171.00 | 145.00 | 135.00 | 35.00 |
| Other Assets | 1,498.00 | 1,251.00 | 1,193.00 | 1,054.00 | 1,133.00 | 755.00 | 595.00 | 875.00 | 802.00 | 690.00 | 590.00 | 538.00 |
| Total Assets | 3,436.00 | 3,055.00 | 2,766.00 | 2,406.00 | 2,116.00 | 1,862.00 | 1,592.00 | 1,445.00 | 1,339.00 | 1,210.00 | 1,089.00 | 940.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 542.00 | 458.00 | 368.00 | 393.00 | 187.00 | 331.00 | 318.00 | 85.00 | 134.00 | 170.00 | 139.00 | 106.00 |
| Cash from Investing Activity | -244.00 | -159.00 | -184.00 | -251.00 | -54.00 | -230.00 | -442.00 | -54.00 | -41.00 | -40.00 | -38.00 | -30.00 |
| Cash from Financing Activity | -215.00 | -221.00 | -175.00 | -140.00 | -114.00 | -95.00 | -95.00 | -68.00 | -60.00 | 3.00 | -102.00 | -46.00 |
| Net Cash Flow | 83.00 | 78.00 | 9.00 | 1.00 | 19.00 | 7.00 | -220.00 | -37.00 | 32.00 | 133.00 | 0.00 | 29.00 |
| Free Cash Flow | 424.00 | 366.00 | 199.00 | 72.00 | 67.00 | 283.00 | 268.00 | 18.00 | 96.00 | 117.00 | 99.00 | 71.00 |
| CFO/OP % | 118.00 | 111.00 | 97.00 | 103.00 | 72.00 | 126.00 | 146.00 | 65.00 | 83.00 | 119.00 | 102.00 | 87.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 47.00 | 47.00 | 49.00 | 40.00 | 43.00 | 45.00 | 47.00 | 47.00 | 45.00 | 37.00 | 42.00 | 42.00 |
| Inventory Days | 123.00 | 140.00 | 148.00 | 146.00 | 184.00 | 163.00 | 155.00 | 169.00 | 159.00 | 162.00 | 190.00 | 171.00 |
| Days Payable | 132.00 | 122.00 | 110.00 | 88.00 | 134.00 | 158.00 | 116.00 | 93.00 | 114.00 | 109.00 | 62.00 | 67.00 |
| Cash Conversion Cycle | 39.00 | 66.00 | 86.00 | 98.00 | 92.00 | 50.00 | 87.00 | 123.00 | 90.00 | 89.00 | 171.00 | 145.00 |
| Working Capital Days | 24.00 | 37.00 | 47.00 | 44.00 | 51.00 | 36.00 | 50.00 | 74.00 | 54.00 | 49.00 | 56.00 | 41.00 |
| ROCE % | 21.00 | 21.00 | 25.00 | 28.00 | 26.00 | 23.00 | 20.00 | 23.00 | 23.00 | 20.00 | 22.00 | 25.00 |
Corporate Actions
26 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 10 Jul 2026 | 10 Jul 2026 | — | 19.00 | |
| Dividend | 15 Jul 2025 | 15 Jul 2025 | — | 17.00 | |
| Dividend | 09 Jul 2024 | — | — | 17.00 | |
| Dividend | 04 Aug 2023 | — | — | 14.50 | |
| Dividend | 19 Jul 2022 | — | — | 12.00 | |
| Dividend | 19 Jul 2021 | — | — | 9.50 | |
| Dividend | 16 Jul 2020 | — | — | 7.50 | |
| Dividend | 17 Jul 2019 | — | — | 6.00 | |
| Dividend | 18 Jul 2018 | — | — | 5.00 | |
| Dividend | 17 Jul 2017 | — | — | 4.00 | |
| Bonus | 14 Jul 2016 | 15 Jul 2016 | 1:1 | — | |
| Dividend | 22 Mar 2016 | 24 Mar 2016 | — | 6.50 | |
| Dividend | 24 Jul 2015 | — | — | 6.50 | |
| Dividend | 11 Jul 2014 | — | — | 6.50 | |
| Other | 11 Jul 2014 | — | — | — | Annual General Meeting / Final Dividend Rs.6.50/- Per Equity Share |
| Dividend | 14 Jun 2013 | — | — | 6.50 | |
| Other | 14 Jun 2013 | — | — | — | Annual General Meeting / Final Dividend Rs.6.50/- Per Equity Share |
| Dividend | 15 Jun 2012 | — | — | 6.50 | |
| Dividend | 17 Jun 2011 | — | — | 6.00 | |
| Dividend | 18 Jun 2010 | — | — | 6.00 | |
| Dividend | 20 Mar 2009 | — | — | 4.00 | |
| Dividend | 19 Mar 2008 | — | — | 4.00 | |
| Dividend | 19 Dec 2007 | 20 Dec 2007 | — | 4.00 | |
| Dividend | 22 Mar 2007 | — | — | 3.50 | |
| Bonus | 26 May 2006 | 02 Jun 2006 | 1:1 | — | |
| Dividend | 08 Mar 2002 | — | — | 3.00 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update29 Dec 2016 from icra