Is Grindwell Norton a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Grindwell Norton Ltd is a good quality company .

Is Grindwell Norton undervalued or overvalued?

The key valuation ratios of Grindwell Norton Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone .

What is Grindwell Norton share price return in the past 10 years?

Grindwell Norton Ltd share price has appreciated 22% annually (CAGR) over the past ten years.

Is Grindwell Norton a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Grindwell Norton Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

Grindwell Norton Ltd - Stock Valuation and Financial Performance

Name: Grindwell Norton
Brand: Grindwell Norton

BSE: 506076 | NSE: GRINDWELL | Abrasives | Small Cap

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Grindwell Norton Share Price

₹2,177.55 -30.10 -1.36%
as on 04-Dec'24 13:49

10 Year X-Ray of Grindwell Norton:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis ^P

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
ROCE % ⓘ	25.5%	22.6%	21.1%	23.9%	24.7%	21.6%	25.6%	27.7%	29.6%	26.5%	-
Value Creation Index ⓘ	0.8	0.6	0.5	0.8	0.8	0.6	0.9	1.1	1.6	1.4	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	1,110	1,126	1,236	1,405	1,567	1,552	1,633	2,006	2,524	2,652	2,683
Sales YoY Gr.	-	1.4%	9.8%	13.7%	11.5%	-0.9%	5.2%	22.8%	25.8%	5.1%	-
Adj EPS ⓘ	8.9	8.9	10.5	13.3	14.5	15.9	22.1	26.1	33.6	34.6	33.6
YoY Gr.	-	-0.5%	18.3%	27.1%	8.9%	9.5%	38.9%	18.1%	28.7%	3.3%	-
BVPS (₹) ⓘ	55.4	68.3	79.7	88.1	97.4	105.3	121.5	139.9	161.6	183.7	184.8
Adj Net Profit ⓘ	98.6	98.3	116	148	161	176	244	289	371	384	372
Cash Flow from Ops. ⓘ	98.1	131	161	124	81.9	307	331	186	398	364	-
Debt/CF from Ops. ⓘ	0	0	0	0	0	0	0	0	0	0	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	10.2%	11.1%	17.5%	5.1%
Adj EPS ⓘ	16.3%	19%	16.2%	3.3%
BVPSⓘ	14.2%	13.5%	14.8%	13.7%
Share Price	22%	30.8%	9.1%	1.5%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Return on Equity % ⓘ	16.7	14.3	14.1	15.8	15.5	15.6	19.3	19.8	22.1	19.9	18.2
Op. Profit Mgn % ⓘ	14.8	15	14.6	16.9	16.6	16.2	19.8	20	20.1	19.5	18.9
Net Profit Mgn % ⓘ	8.9	8.7	9.4	10.5	10.3	11.3	15	14.4	14.7	14.5	13.9
Debt to Equity ⓘ	0	0	0	0	0	0	0	0	0	0	0
Working Cap Days ⓘ	112	129	121	122	133	141	131	205	251	234	106
Cash Conv. Cycle ⓘ	60	73	54	42	57	59	32	32	43	47	66

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 17.54%

Net Profit is growing at healthy rate in last 3 years 16.20%

Return on Equity has declined versus last 3 years average to 18.20%

Sales growth is not so good in last 4 quarters at 4.85%

Latest Financials - Grindwell Norton Ltd.

	Standalone	Consolidated
TTM EPS (₹)	33.6	33.8
TTM Sales (₹ Cr.)	2,683	2,737
BVPS (₹.) ⓘ	184.8	185.5
Reserves (₹ Cr.) ⓘ	1,991	1,999
P/BV ⓘ	11.95	11.90
PE ⓘ	65.79	65.33

From the Market
52 Week Low / High (₹)	1850.05 / 2959.45
All Time Low / High (₹)	2.50 / 2959.45
Market Cap (₹ Cr.)	24,443
Equity (₹ Cr.)	55.4
Face Value (₹)	5
Industry PE ⓘ	71.3

Management X-Ray of Grindwell Norton:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Grindwell Norton

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Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of Grindwell Norton

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Sales	1,110	1,126	1,236	1,405	1,567	1,552	1,633	2,006	2,524	2,652
Operating Expenses ⓘ	946	958	1,056	1,169	1,308	1,300	1,318	1,606	2,025	2,136
Manufacturing Costs	195	191	202	234	265	255	252	305	364	385
Material Costs	505	517	575	644	728	730	732	898	1,166	1,197
Employee Cost	131	146	168	174	190	202	205	248	294	323
Other Costs ⓘ	115	103	110	117	126	113	128	156	201	231
Operating Profit ⓘ	164	168	181	236	259	252	315	399	499	515
Operating Profit Margin (%)	14.8%	14.9%	14.6%	16.8%	16.5%	16.2%	19.3%	19.9%	19.8%	19.4%
Other Income ⓘ	21	25	33	29	38	46	60	56	58	68
Interest ⓘ	1	1	1	1	1	4	3	4	8	7
Depreciation ⓘ	35	37	40	42	42	55	52	51	58	69
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	0	-3
Profit Before Tax ⓘ	149	155	173	222	253	239	320	400	491	505
Tax ⓘ	48	53	57	75	89	56	78	102	125	124
Profit After Tax	101	102	116	147	164	183	242	298	366	381
PAT Margin (%)	9.1%	9.1%	9.4%	10.5%	10.5%	11.8%	14.8%	14.9%	14.5%	14.4%
Adjusted EPS (₹)	9.1	9.2	10.5	13.3	14.8	16.5	21.9	26.9	33.1	34.4
Dividend Payout Ratio (%)	36%	35%	38%	38%	41%	45%	43%	45%	44%	49%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Shareholders Fund	617	760	885	979	1,081	1,170	1,348	1,553	1,793	2,038
Share Capital ⓘ	28	28	55	55	55	55	55	55	55	55
Reserves ⓘ	589	732	830	924	1,026	1,114	1,293	1,497	1,737	1,982
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	2	3	3	0	0	0	0	0	4	6
Long Term Debt	0	0	0	0	0	0	0	0	4	6
Short Term Debt	2	3	3	0	0	0	0	0	0	0
Trade Payables	86	84	164	191	181	228	312	321	274	362
Others Liabilities ⓘ	206	216	137	148	161	171	182	1,061	1,270	1,001
Total Liabilities ⓘ	910	1,063	1,189	1,318	1,423	1,568	1,843	2,934	3,340	3,407
Fixed Assets
Gross Block	544	359	418	435	480	573	608	662	907	1,120
Accumulated Depreciation	218	37	77	118	159	213	259	296	337	389
Net Fixed Assetsⓘ	327	322	341	317	321	360	348	366	570	731
CWIP ⓘ	7	13	6	23	42	29	24	67	119	128
Investmentsⓘ	55	155	166	191	203	603	734	552	665	710
Inventories	213	247	235	263	321	294	315	437	451	474
Trade Receivables	126	126	123	173	202	201	200	236	277	353
Cash Equivalents	113	124	242	270	230	7	122	268	133	212
Others Assetsⓘ	70	76	75	81	104	75	100	1,008	1,125	799
Total Assets ⓘ	910	1,063	1,189	1,318	1,423	1,568	1,843	2,934	3,340	3,407

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	98	131	161	124	82	307	331	186	398	364
PBT ⓘ	149	155	173	222	253	239	320	400	491	505
Adjustment ⓘ	31	30	32	27	28	32	23	30	32	29
Changes in Working Capital ⓘ	-32	-6	12	-53	-108	104	65	-145	-1	-32
Tax Paid ⓘ	-51	-48	-57	-71	-91	-68	-77	-100	-123	-137
Cash Flow From Investing Activity ⓘ	-29	-37	-43	-43	-53	-437	-225	-55	-258	-176
Capex	-34	-39	-52	-36	-66	-49	-48	-120	-314	-163
Net Investments	4	1	8	-9	12	-393	-195	58	42	-34
Others ⓘ	1	1	1	2	1	5	17	7	15	21
Cash Flow From Financing Activityⓘ	-40	-92	7	-57	-68	-93	-95	-114	-140	-174
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	0	0	0	0	0	0	0	0	0	2
Interest Paid ⓘ	-1	-1	-1	-1	-1	-4	-3	-4	-8	-7
Dividend Paid ⓘ	-36	-72	0	-44	-55	-66	-83	-105	-133	-161
Others ⓘ	-3	-19	9	-12	-11	-22	-8	-4	1	-9
Net Cash Flow ⓘ	29	2	125	25	-39	-223	11	17	1	14

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Ratios
ROE (%)	17.25	14.91	14.16	15.84	15.96	16.3	19.28	20.59	21.92	19.91
ROCE (%)	25.52	22.63	21.09	23.91	24.68	21.59	25.55	27.69	29.56	26.45
Asset Turnover Ratio	1.39	1.23	1.19	1.14	1.14	1.04	0.97	0.86	0.82	0.8
PAT to CFO Conversion(x)	0.97	1.28	1.39	0.84	0.5	1.68	1.37	0.62	1.09	0.96
Working Capital Days
Receivable Days	32	38	34	38	44	47	44	39	36	42
Inventory Days	60	69	66	64	68	72	67	67	63	62
Payable Days	57	60	79	101	93	102	135	129	93	97

Grindwell Norton Ltd Stock News

Grindwell Norton Ltd FAQs

What is the share price of Grindwell Norton?

Company share prices are keep on changing according to the market conditions. The closing price of Grindwell Norton on 04-Dec-2024 13:49 is ₹2,177.6.

What is the market cap of Grindwell Norton?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 04-Dec-2024 13:49 the market cap of Grindwell Norton stood at ₹24,443.1.

What is the P/E ratio of Grindwell Norton?

The latest P/E ratio of Grindwell Norton as of 04-Dec-2024 13:49 is 65.79.

What is the P/B ratio of Grindwell Norton?

The latest P/B ratio of Grindwell Norton as of 04-Dec-2024 13:49 is 11.95.

What is the 52-week high and low of Grindwell Norton?

The 52-week high of Grindwell Norton is ₹2,959.5 and the 52-week low is ₹1,850.1.

What is the TTM revenue of Grindwell Norton?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Grindwell Norton is ₹2,683 ( Cr.) .

About Grindwell Norton Ltd

Grindwell Norton (GNO), a company listed on the Bombay and National Stock Exchanges, pioneered the manufacture of grinding wheels in India in 1941. In 1990, Saint-Gobain acquired Norton Company, USA, worldwide and thereby became a shareholder in GNO. In 1996, Saint-Gobain increased its equity stake, making GNO its first majority-owned subsidiary in India.

Presently, GNO’s businesses include: Abrasives, Ceramic Materials Businesses (Silicon Carbide and Performance Ceramics & Refractories), Performance Plastics and ADFORS. The Saint-Gobain Country Head office, INDEC (the captive India IT Development Centre for the Saint-Gobain Group globally) and CertainTeed are also part of GNO. GNO’s subsidiary, Saint-Gobain Ceramic Materials Bhutan Pvt. Ltd., manufactures Silicon Carbide. The Group currently holds 51.66% of the equity capital of GNO.

Business area of the company

Abrasives Business: GNO’s Abrasives Business, markets and manufactures a full range of Bonded Abrasives, Coated Abrasives (including Non-woven Abrasives), Thin Wheels and Superabrasives at its plants near Mumbai, Bangalore, Nagpur and Himachal Pradesh.

Ceramics Business: The Performance Ceramics & Refractories (PCR) business offers complete solutions with expertise in design, engineering and manufacturing refractory systems for high temperature, ballistic and wear applications. The HPR plants are located in Bangalore and Halol (Gujarat). The Silicon Carbide business manufactures Silicon Carbide crude and grains at Tirupati (Andhra Pradesh) and near Phuentsholing (Bhutan) and is a major supplier to all leading Refractory, Metallurgy and Abrasives manufacturers in India.

Other Businesses: GNO’s other businesses include: CertainTeed (subsidiary of Saint-Gobain) and INDEC (the captive India IT Development Centre for the Saint-Gobain Group globally).