Grindwell Norton share price, P/E, ROE & financials

Grindwell Norton (GRINDWELL) had a P/E of 46.0× on 6 Nov 2026, above the industry P/E of 24.8×, and the shares are 22% below their 52-week high. Its ROCE of 21% is the second-highest among the 7 largest Building Products & Equipment peers, and sales and net profit grew 6.6% and 4.7% a year over 3 years. It has almost no debt, and its dividend yield is 1.0%. It is a small-cap company with a market cap of ₹21,248 Cr, ranked 5th of 64 Building Products & Equipment companies by market cap; the shares rose 17% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year

Open: ₹1,929.80
Day high: ₹1,933.70
Day low: ₹1,880.00
Prev. close: ₹1,929.80
Volume: 21.2K

Health check

2 good · 2 fair · 2 to check

ReturnsAhead
+16.8% over a year, better than 6 of 7 peers.
Price tagPricier
P/E 46.0 vs industry 24.8.
GrowthSteady
Sales +6.6%, profit +4.7% a year over 3 years.
ProfitabilityStrong
ROCE 21.0% vs peer median 19.6%.
Balance sheetFair
Practically debt-free, Piotroski 5 of 9.
Red flags1 to check
P/E of 46.0 against an industry P/E of 24.8.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Building Products & Equipment

63 listed peers. Screen the industry

Small cap

₹21,248 Cr, #5 of 64 in its industry by size.

Defensive

Beta 0.55 vs the NIFTY 50: moves less than the market.

Key metrics

Last 12 months to Sep 2026: sales ₹3,282 Cr · profit ₹463 Cr

Market cap: ₹21,248 Cr; Small cap
P/E: 46.0; Industry 24.8
Price to book: 8.16; Peers 6.27
Dividend yield: 0.99%
ROE: 18.9%; Peers 16.2%
ROCE: 21.0%; Peers 19.6%
Debt to equity: 0.02; Debt ₹56 Cr
EPS (TTM): ₹41.74; Face value ₹5
OPM (TTM): 19.2%; Net margin 14.1%
Sales growth: +14.1%; Latest quarter vs a year ago
Profit growth: +24.2%; Latest quarter vs a year ago
Price to sales: 6.47; EV/EBITDA 32.5

Strengths

Return on equity of 18.9%.
Return on capital employed of 21.0%.
Practically debt-free.
Quarterly profit up 24.2% on a year ago.
Positive operating cash flow in each of the last 4 years.

Risks to check

P/E of 46.0 against an industry P/E of 24.8.

Derived automatically from reported figures. Not a recommendation.

About Grindwell Norton

Grindwell Norton Limited provides abrasives, life sciences, performance plastics, and ceramics solutions in India and internationally. The company operates through the Abrasives, Ceramics & Plastics, Digital Services, and Others segments. It offers abrasives, such as bonded and coated abrasives, thin wheels, superabrasives, non-woven abrasives, construction products, automotive aftermarket, adhesives and sealants, and performance grinding solutions;…

Headquarters: Mumbai
Employees: 2,385
Sector: Industrials
ISIN: INE536A01023
Website: grindwellnorton.co.in

Price range

52 weeks

₹1,329.00₹2,455.00

Today

₹1,880.00₹1,933.70

Avg volume (3M): 35K
1-year return: plus 16.8%
From 52-week high: minus 21.8%

Peers · Building Products & Equipment

Capital-heavy industry columns

Compare with peers Screen the whole industry

Company
CPPLUSAditya Infotech	4,131.40	minus 0.94%	50,682	82.2	88.3	25.9%	14.5%	0.10	22.7%	plus 215.4%
SUPREMEINDSupreme Industries	3,156.90	minus 4.07%	40,118	35.5	25.0	19.6%	14.4%	0.01	6.8%	minus 15.4%
ASTRALAstral	1,253.60	minus 9.68%	33,678	59.3	31.1	17.6%	15.5%	0.08	8.4%	minus 5.4%
BLUESTARCOBlue Star	1,575.00	plus 0.19%	32,381	60.6	33.4	20.7%	6.6%	0.22	15.7%	minus 18.0%
GRINDWELLGrindwell Norton	1,919.10	minus 0.55%	21,248	46.0	34.1	21.0%	19.2%	0.02	6.6%	plus 16.8%
KAJARIACERKajaria Ceramics	1,180.70	minus 2.08%	18,554	31.1	21.0	21.0%	19.0%	0.13	3.3%	plus 3.3%
FINPIPEFinolex Industries	141.95	minus 1.95%	8,777	14.5	9.5	12.6%	17.5%	0.02	−2.4%	minus 23.1%
CERACera Sanitaryware	4,798.70	minus 0.06%	6,188	30.6	20.0	17.3%	12.5%	0.03	4.1%	minus 23.7%
Median of 7 peers	–	−1.95%	32,381	35.5	25.0	19.6%	14.5%	0.08	6.8%	−15.4%

Quarterly results

Consolidated, ₹ crore

SalesSelect a row below to chart it

Jun 25	Dec 25	Mar 26	Jun 26	Sep 26
700	750	839	801	881
570	611	675	644	714
130	139	164	157	166
18.6%	18.5%	19.6%	19.6%	18.9%
24.1	18.7	21.2	25	40
2.2	2.1	1.7	1.4	1.7
25.9	27	25.9	26.5	27.2
126	128	158	154	178
25.0%	25.6%	24.4%	25.2%	25.0%
94.5	95.2	119	116	133
8.53	8.60	10.72	10.43	11.99

Sep 25 not reported by the data source.

Profit & loss

Yearly, ₹ crore

Sales CAGR 3Y: +6.6%
Profit CAGR 3Y: +4.7%
EPS CAGR 3Y: +4.7%
ROE: 18.9%

Net profitSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
2,525	2,669	2,799	3,060
–	+5.7%	+4.9%	+9.3%
2,013	2,148	2,282	2,469
512	521	517	591
20.3%	19.5%	18.5%	19.3%
26.1	39.7	43.2	35.8
7.8	7.8	9.3	8.2
60.1	70.9	92.6	105
16	26.3	33.3	41.4
486	508	492	555
25.6%	24.5%	24.5%	25.0%
362	384	369	416
–	+6.0%	minus 3.9%	+12.7%
32.69	34.65	33.30	37.54

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore

Total assetsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
55.4	55.4	55.4	55.4
1,750	2,000	2,200	2,479
51.4	82.6	83.5	60.7
553	632	718	842
2,410	2,770	3,057	3,438
615	811	837	851
124	149	45.3	55.7
234	241	260	315
575	666	894	1,160
863	902	1,020	1,056
2,410	2,770	3,057	3,438

Cash flow

Yearly, ₹ crore

Cash from operationsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
393	368	458	542
−260	−182	−213	−315
−140	−175	−221	−215
−7.7	11.4	24.5	11.8
−322	−172	−94.1	−119
71	196	364	423
−133	−161	−188	−188

Shareholding pattern

Source: NSE filings

58.0%

promoters

Promoters58.03%
Public41.97%
As of 30 Sep 2026

Quarter	Promoters	Public	Promoter change
30 Sep 2026	58.03%	41.97%	0.00
30 Jun 2026	58.03%	41.97%	0.00
31 Mar 2026	58.03%	41.97%	0.00
31 Dec 2025	58.03%	41.97%	0.00
30 Sep 2025	58.03%	41.97%	–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you