Grindwell Norton Limited (GRINDWELL) Fair Value & Analysis

Industrials · IN · Market cap ₹241B

A solid business, but screening 41% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (₹1,588). The favourable scenario is already priced in.
• Solid but not exceptional quality (69/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹392.65 – ₹2,904 · fair‑value band ₹898.51 – ₹1,588 · the ₹2,168 price screens above the ₹1,284 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Grindwell Norton Limited (GRINDWELL) currently trades at ₹2,168, while our model-based Fair Value estimate is ₹1,284, implying the stock looks roughly 40.8% overvalued today. The Quality Score stands at 69/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Grindwell Norton Limited generated revenue of ₹30.7B at a net margin of 13.5%. Revenue grew 18.7% year over year. It earns a return on equity of 17.3%. The balance sheet holds a net cash position of ₹4.3B. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹898.51 (bear case) to ₹1,588 (bull case); at ₹2,168, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 6% below its 52-week high and 63% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -60% fair-value upside, at -41%, GRINDWELL screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: DCF Models (₹876.20) versus Asset-Based (₹153.39). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

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.

Full company description

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 (BSE:506076) operates as a subsidiary of Compagnie de Saint-Gobain S.A.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Grindwell Norton Limited reported revenue of ₹30.7B in FY2026 versus ₹20.1B in FY2022, a compound +11.2%/yr. Reported net income was ₹4.2B in FY2026, compounding +8.9%/yr from FY2022.

GRINDWELL screens 41% overvalued. Compare with Trane Technologies plc →

Peer Group

Building Products & Equipment · 245 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs Building Products & Equipment median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.