Grindwell Norton Limited

Capital Goods · Industrial Products

NSE: GRINDWELL BSE: 506076

₹2004.20

Oct. 5, 2026 · NSE · nse_bhavcopy

Peers in Industrial Products

The largest companies in the same industry by market cap. This company ranks #16 of 335. PE, ROE, 1Y return and scores come from the daily/weekly precomputed snapshot.

Company	Market cap (₹ Cr)	PE (TTM)	ROE	1Y return	Div. yield	Quality	Valuation	Momentum
Cummins India Limited	133,951	58.7	27.9%	22.6%	1.37%	84	0	27
Polycab India Limited	121,713	43.3	22.3%	6.1%	0.58%	83	27	61
Welspun Corp Limited	65,882	75.3	17.2%	192.9%	0.20%	71	0	53
APL Apollo Tubes Limited	58,303	101.5	22.7%	20.5%	—	68	0	51
KEI Industries Limited	44,341	44.5	13.8%	12.3%	0.10%	70	29	61
Supreme Industries Limited	43,175	45.8	15.5%	-18.5%	—	76	0	49
Astral Limited	36,593	56.3	13.2%	-1.6%	—	76	12	12
AIA Engineering Limited	36,052	27.8	15.8%	21.6%	0.41%	71	29	61
Grindwell Norton Limited (this stock)	22,191	51.2	15.8%	18.1%	0.95%	78	12	68

Valuation multiples

Current only. Market cap is the whole company's; sales/EBITDA are trailing-twelve-month standalone; debt and cash come from the latest filed standalone balance sheet (March 31, 2026). EBITDA = PBT + interest + depreciation.

Enterprise value

₹22,178 Cr

EV / EBITDA

32.2x

EV / Sales

7.10x

Market cap / Sales

7.10x

Earnings yield

1.95%

Quarterly Financials

Download CSV

Standalone Consolidated

↑ Positive

Quarterly Revenue

Jun 2026 quarterly revenue is Rs 818 Cr, up 14.0% YoY.

Period end	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)	Basic EPS
June 30, 2026	794	154	116	₹10.4300
March 31, 2026	829	157	119	₹10.7600
Dec. 31, 2025	742	126	94	₹8.4900
Sept. 30, 2025	761	140	105	₹9.4900
June 30, 2025	694	126	94	₹8.5300
March 31, 2025	691	119	91	₹8.2500
Dec. 31, 2024	683	112	84	₹7.5500
Sept. 30, 2024	672	124	94	₹8.4900
June 30, 2024	691	123	92	₹8.3000
March 31, 2024	681	122	94	₹8.4400
Dec. 31, 2023	652	122	92	₹8.3200
Sept. 30, 2023	658	131	98	₹8.8500
June 30, 2023	660	130	97	₹8.7700

Quarterly income statement (standalone, ₹ Cr)

Indicator	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23
Total income (before exceptional items)	818	850	760	792	718	714	701	695	707	699	665	681	675
Operating revenue	794	829	742	761	694	691	683	672	691	681	652	658	660
Other income	25	21	19	31	24	23	18	23	16	17	14	23	15
Operating expenses	637	666	606	624	565	568	565	547	560	557	525	529	526
Operating profit	157	163	136	137	129	123	119	125	131	125	127	130	134
Operating profit margin	19.8%	19.6%	18.3%	18.0%	18.6%	17.8%	17.4%	18.7%	18.9%	18.3%	19.5%	19.7%	20.3%
Depreciation	26	25	26	26	25	24	23	22	21	19	17	17	16
Interest	1	2	2	2	2	2	2	2	2	2	2	2	2
Exceptional items, gain / (loss)	—	—	—	—	—	—	—	—	—	—	—	-3	—
Profit before tax	154	157	126	140	126	119	112	124	123	122	122	131	130
Tax	39	38	32	35	31	28	28	30	31	28	30	33	33
Net profit	116	119	94	105	—	91	84	94	92	94	92	98	97
EPS	10.43	10.76	8.49	9.49	8.53	8.25	7.55	8.49	8.30	8.44	8.32	8.85	8.77
Net profit (TTM)	434	—	—	—	—	361	363	372	376	381	386	368	356
EPS (TTM)	39.17	37.27	34.76	33.82	32.82	32.59	32.78	33.55	33.91	34.38	34.87	33.19	32.18

Total income excludes exceptional items, which are shown on their own row. Trendlyne and Screener fold exceptional items into revenue or other income, so their totals differ from this table by exactly that row.

Annual Financials

Year ended	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)
March 31, 2026	3,026	550	413
March 31, 2025	2,737	479	361
March 31, 2024	2,652	505	381
March 31, 2023	2,369	469	351

Annual income statement (standalone, ₹ Cr; CAGR to the latest year)

Indicator	CAGR 3Y	CAGR 5Y	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Total income (before exceptional items)	8.8%	13.1%	3,121^†	2,817^†	2,720^†	2,420^†	2,059^†	1,684^†	1,599^†	1,605^†	1,457^†	1,061^†
Operating revenue	8.5%	13.1%	3,026	2,737	2,652	2,369	2,006^†	1,633^†	1,552^†	1,567^†	1,428^†	1,028^†
Other income	—	—	95^†	80^†	68^†	51^†	53^†	51^†	46^†	38^†	29^†	33^†
Operating expenses	—	—	2,461^†	2,240^†	2,136^†	1,889^†	1,604^†	1,309^†	1,300^†	1,308^†	1,192^†	—
Operating profit	5.6%	11.8%	565^†	497^†	515^†	479^†	402^†	324^†	252^†	259^†	236^†	—
Operating profit margin	—	—	18.7%^†	18.2%^†	19.4%^†	20.2%^†	20.0%^†	19.8%^†	16.2%^†	16.5%^†	16.5%^†	—
Depreciation	—	—	102^†	90^†	69^†	55^†	51^†	52^†	55^†	42^†	42^†	—
Interest	—	—	8^†	9^†	7^†	7^†	4^†	3^†	4^†	1^†	1^†	1^†
Exceptional items, gain / (loss)	—	—	0^†	0^†	-3^†	0^†	0^†	0^†	0^†	0^†	0^†	0^†
Profit before tax	5.4%	11.4%	550	479	505	469	400^†	320^†	239^†	253^†	222^†	173^†
Tax	—	—	137^†	118^†	124^†	118^†	102^†	78^†	56^†	89^†	75^†	57^†
Net profit	5.6%	11.3%	413	361	381	351	298^†	242^†	183^†	164^†	147^†	116^†
EPS	5.6%	11.3%	37.27^†	32.59^†	34.38^†	31.68^†	26.92^†	21.86^†	16.51^†	—	—	—

^† Derived: the sum of that fiscal year's four quarterly filings (a real annual filing is used wherever one exists). Checked against filed annual figures, the sum lands within 0.5% for about 94% of company-years.

Annual ratios (standalone)

Ratio	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Operating margin	18.7%^†	18.2%^†	19.4%^†	20.2%^†	20.0%^†	19.8%^†	16.2%^†	16.5%^†	16.5%^†	—
EBIT margin	18.4%^†	17.8%^†	19.3%^†	20.1%^†	20.1%^†	19.8%^†	15.7%^†	16.2%^†	15.6%^†	16.9%^†
PBT margin	18.2%	17.5%	19.0%	19.8%	19.9%^†	19.6%^†	15.4%^†	16.2%^†	15.6%^†	16.8%^†
Net margin	13.6%	13.2%	14.4%	14.8%	14.9%^†	14.8%^†	11.8%^†	10.5%^†	10.3%^†	11.3%^†
Interest coverage	71.27x^†	56.34x^†	73.95x^†	71.45x^†	101.91x^†	99.65x^†	56.93x^†	172.01x^†	212.53x^†	156.62x^†
Dividend payout	45.6%^†	52.2%^†	42.2%^†	37.9%^†	35.3%^†	34.3%^†	36.3%^†	—	—	—
Earnings retention	54.4%^†	47.8%^†	57.8%^†	62.1%^†	64.7%^†	65.7%^†	63.7%^†	—	—	—
Current ratio	2.79x	2.85x	—	—	—	—	—	—	—	—
Quick ratio	2.16x	2.11x	—	—	—	—	—	—	—	—
Debt to equity	0.02x	0.00x	—	—	—	—	—	—	—	—
Return on equity	16.4%	16.1%	—	—	—	—	—	—	—	—
Return on assets	12.1%	12.0%	—	—	—	—	—	—	—	—
Return on capital employed	21.0%^†	20.4%^†	—	—	—	—	—	—	—	—
Asset turnover	0.89x	0.91x	—	—	—	—	—	—	—	—

Margins and asset turnover use operating revenue (interest earned for banks, excluding other income), not total income. Liquidity, leverage and return ratios need a filed standalone balance sheet, which exists only for recent years; returns use year-end equity/assets. Dividend payout is shown only for companies with a dividend record. † = built from a summed fiscal year.

Revenue Mix

Data unavailable.

Cash Flow

Year ended	Operating (₹ Cr)	Investing (₹ Cr)	Financing (₹ Cr)	Capex (₹ Cr)	Free Cash Flow (₹ Cr)
March 31, 2026	530	-313	-214	117	413
March 31, 2025	453	-212	-219	93	360
March 31, 2024	364	-176	-174	163	201
March 31, 2023	341	-202	-139	139	202
March 31, 2022	186	-55	-114	125	60

Balance Sheet (standalone)

Year ended	Total Assets (₹ Cr)	Total Equity (₹ Cr)	Reserves (₹ Cr)	Borrowings, Current (₹ Cr)	Borrowings, Non-current (₹ Cr)	Current Assets (₹ Cr)	Current Liabilities (₹ Cr)	Cash & Equivalents (₹ Cr)	Net Block (₹ Cr)	Inventory (₹ Cr)
March 31, 2026	3,401	2,520	2,464	19	41	2,082	746	72	773	467
March 31, 2025	3,018	2,243	2,188	2	1	1,780	624	70	767	465
March 31, 2024	—	—	—	—	—	—	—	—	—	—
March 31, 2023	—	—	—	—	—	—	—	—	—	—
March 31, 2022	—	—	—	—	—	—	—	—	—	—

Financial charts

Trend charts drawn from the standalone income-statement and ratio tables above (oldest year on the left); a gap means that period has no figure. Annual years marked † in the tables are derived from four quarters.