Grindwell Norton share price today

Grindwell Norton Ltd's share price was ₹1,950.30 at the close on 4 November 2026. It has been rising for 23 weeks. That is 4.1% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹1,370 and ₹2,228, and at that close it sat 68% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Grindwell Norton Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 4 weeks running.

Over the last 11 years the share price moved +550% while the NIFTY 500 moved +257%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 9 October 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

1. Profit up on a year earlier for 6 quarters in a row

   In the September 2026 quarter profit was ₹133 crore, +24.3% on a year earlier.

3. Highest quarterly profit in 16 quarters

   Profit of ₹133 crore in the September 2026 quarter is the highest of the last 16 quarters.

For July to September 2026 (the quarter ended 30 September 2026), Grindwell Norton reported revenue of ₹884 crore, up 14.1% from ₹775 crore a year earlier, and a profit of ₹133 crore, up 24.3% from ₹107 crore.

Grindwell Norton results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

The newest call in our records is from 29 May 2026, about January to March 2026; a call about these results is not in our records yet.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

Grindwell Norton closed at ₹1,950.30 on 4 November 2026, up 21.7% from ₹1,602.00 a year earlier (7 November 2025) and up 18.6% over five years. Its highest weekly close since February 2016 was ₹2,856.35 on 5 July 2024.

Grindwell Norton share price: then and now

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

565 weekly closes from 26 February 2016 to 4 November 2026.

4 Nov 2026: Grindwell Norton closed at ₹1,950.30, up 3.8% on the week and down 1.3% on the month. Results for July to September 2026: Revenue up 14.1% and profit up 24.3% on a year earlier.

Earlier

• Our read, 19 Jul 2026: Ceramics and Plastics is growing faster than Abrasives and has delivered higher profit growth, providing the clearest mix-driven earnings lever.
• 10 Jul 2026: ex-date for a dividend of ₹19 a share.
• 29 May 2026: Grindwell Norton held its results call for January to March 2026. Management guided: Abrasives long-term aim: double-digit growth or at least 2 percent faster than IIP or GDP.

Our read of the business

Ceramics and Plastics is growing faster than Abrasives and has delivered higher profit growth, providing the clearest mix-driven earnings lever.

January to March 2026: Revenue, operating profit and net profit strengthened in the March quarter.

Our read after the January to March 2026 results, written 19 July 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

Grindwell Norton paid ₹19 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.97% at the ₹1,950.30 close on 4 November 2026. The last was a dividend of ₹19 a share, ex-date 10 July 2026.

Grindwell Norton dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. Grindwell Norton Ltd paid out 51% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for January to March 2026, held on 29 May 2026, Grindwell Norton's management guided: Abrasives long-term aim: double-digit growth or at least 2 percent faster than IIP or GDP.

“For players like Grindwell Norton, who manufacture a large part of our products in India, this is a positive development as it helps us remain competitive while low-cost imports become more expensive”on the call for January to March 2026

What management guided

• Ceramics & Plastics growth goal: 15-20 percent annually depending on product mix.
• Price-cost spread: confident of positive spread going forward after March 2026 inflation pass-through completed.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for January to March 2026, 29 May 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

What is changing at Grindwell Norton, from the latest results and calls: c&p mix and operating leverage, abrasives import substitution and share gains and self-funded capacity and cash optionality.

• C&P mix and operating leverage. Ceramics and Plastics is the clearest earnings lever because segment profit grew faster than segment revenue. ⚠ estimate
• Abrasives import substitution and share gains. India-based manufacturing may benefit as imported abrasives become less competitive. ⚠ estimate
• Self-funded capacity and cash optionality. Cash generation and the cash balance give Grindwell Norton capacity to complete expansion without a financing constraint. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the January to March 2026 results, written 19 July 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

C&P growth falls back toward the Abrasives rate while segment profit stops outgrowing revenue after the capacity ramp.

Each change stops working if

• C&P mix and operating leverage: C&P growth falls back toward the Abrasives rate while segment profit stops outgrowing revenue after the capacity ramp.
• Abrasives import substitution and share gains: Abrasives revenue fails to outgrow the industrial backdrop or the price-cost spread turns negative despite the import-cost change.

The main risks

• C&P margin and capacity conversion uncertainty: Management does not provide a normalized margin goal even though C&P is the main growth driver. ✓ fact
• Long-duration option businesses may not help near-term earnings: Life Sciences exports and battery solutions are promising but not near-term proof points. ✓ fact

Our read after the January to March 2026 results, written 19 July 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

When Grindwell Norton reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: Abrasives April to June 2026 revenue and EBIT to confirm pricing lasts and margins stabilize: planned growth should validate tariff advantage thesis. Watch if growth accelerates from Q4 momentum (₹414 crore base) or normalizes as comparisons become stiffer.

Grindwell Norton is on one of our India lists: Small & mid cap stocks.

Grindwell Norton Ltd earned ₹133 Cr of net profit in the Sep 2026 quarter, +24.3% on the same quarter a year earlier. That is the 6th quarter in a row of profit growth. Full-year FY26 profit was ₹417 Cr. Over 10 years profit has grown 14.7% a year on average. That is 15.0% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹107 Cr.

For the full year, FY26 profit was ₹417 Cr (+12.4% on the year before).

Why profit moved: revenue changed +14.1% on a year earlier and the margin moved +1.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +20.9% and revenue +13.5%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

FY27-Q1. revenue ₹803 Cr and profit ₹115 Cr as reported.

FY27-Q2. revenue ₹884 Cr and profit ₹133 Cr as reported.

Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters.

Grindwell Norton Ltd reported ₹884 Cr of revenue in the Sep 2026 quarter, +14.1% on the same quarter a year earlier. That is the 5th quarter in a row with growth on the year before. Over 10 years it has grown 10.3% a year on average. The last full year, FY26, came in at ₹3,073 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹3,282 Cr.

FY26 revenue was ₹3,073 Cr, +9.3% on the year before.

Recent pace: the last four quarters grew +13.5% on average, against 10.3% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +13.5%, against +9.2% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +21.2%, against +11.1% a year (accelerating).

FY27-Q1. revenue ₹803 Cr and profit ₹115 Cr as reported.

FY27-Q2. revenue ₹884 Cr and profit ₹133 Cr as reported.

Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters.

Grindwell Norton Ltd's operating margin was 19.0% in the Sep 2026 quarter, 1.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between 15.0% and 20.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed +0.7 percentage points on the year while gross margin changed −2.5 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

FY27-Q1. revenue ₹803 Cr and profit ₹115 Cr as reported.

FY27-Q2. revenue ₹884 Cr and profit ₹133 Cr as reported.

Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters.

Over the last 3 years, 117% of Grindwell Norton Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹542 Cr of operating cash against ₹417 Cr of profit. After ₹132 Cr of spending on assets, ₹410 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Why this happened. Operating cash flow has exceeded profit in the recent window, with inventory intensity falling and free cash flow positive after capital expenditure. Management confirms the available cash and continued spending posture, but the source discussion does not attribute the filings-based cash improvement to a specific operating action.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 117% of profit came in as cash: the cash cycle got 11 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner.

What to look at next: the bigger use of cash is spending on new assets, at 1.9× depreciation over three years. The next section checks what that spending is building.

Grindwell Norton Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 39 days in FY26, down from 50 days in FY21. It spent ₹498 Cr on assets over the last 3 years. Customers take 47 days to pay, and stock sits for 123 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹3,073 Cr, each day of that cycle ties up about ₹8.4 Cr, so roughly ₹328 Cr is tied up in the business at any time.

FY26: customers took 47 days to pay and stock sat for 123 days, about 4.0 months of sales sitting as stock, for a full cycle of 39 days, shorter than FY21's 50.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 123 days. Customers pay about 47 days after that. Suppliers are paid at 132 days. Together that makes the 39-day cycle.

Spending on assets: ₹498 Cr over the last 3 years, against ₹269 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹52.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Grindwell Norton Ltd's P/E is 46.7×, in the middle of its own history: higher than 51% of past readings. Its usual P/E (the middle reading) is 46.2×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.