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    Grindwell Norton Limited

    Saint-Gobain group maker of Norton abrasives, engineered ceramics, refractories and performance polymers.

    Capital Goods
    Industrials
    ₹2,086.7
    +6.03% from avg

    Overview

    Price

    ₹2,086.7

    Market Cap

    ₹22.6k Cr

    Sector

    Capital Goods

    Industrials

    Rank

    3

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital5555555555555555
    Reserves1.1k1.3k1.5k1.8k2.0k2.2k2.2k2.5k
    Borrowings012155183848061
    Other Liabilities404485532549628716780840
    Total Liabilities1.6k1.9k2.1k2.4k2.8k3.1k3.1k3.4k
    AssetsFixed Assets385370386586756886883887
    CWIP292467124128265152
    Investments583713531642689892927999
    Other Assets5957551.1k1.1k1.2k1.3k1.3k1.5k
    Total Assets1.6k1.9k2.1k2.4k2.8k3.1k3.1k3.4k

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY19FY20FY21FY22FY23FY24FY25FY26
    ActivitiesCash from Operating85318331187393368458542
    Cash from Investing-54-442-230-54-251-184-159-244
    Cash from Financing-68-95-95-114-140-175-221-215
    SummaryCapital Expenditure
    Free Cash Flow182682836772199366424
    FCF Margin

    Valuation

    Assumptions

    Current — GRINDWELL
    Price
    ₹2,087
    EPS (TTM)
    ₹39.40
    PE (TTM)
    53.0
    Profit growth
    4.8%

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (56.2×) and current (53.0×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹2,087
    vs
    Fair value · 15% return
    ₹1,109
    47%Overvalued

    At 4.8% growth and a 53× exit, ₹2087 only delivers your return if you pay ₹1,109. The price is currently baking in 18% growth.

    EPS grows 4.8%/yr for 5 years, then fades to 6% over 2, exits at 53×.

    YearGrowthEPS (₹)
    FY274.8%41.29
    FY284.8%43.27
    FY294.8%45.35
    FY304.8%47.53
    FY314.8%49.81
    FY325.4% ·fade52.50
    FY336.0% ·fade55.65

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

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