# Grindwell Norton share price today (Grindwell Norton Ltd, NSE: GRINDWELL)

> Grindwell Norton share price today: ₹1,950.30 at the NSE close on 4 November 2026, up 21.7% in a year. Grindwell Norton (NSE: GRINDWELL) is worth ₹21,589 crore, trades at a P/E of 46.7 and has closed between ₹1,369.90 and ₹2,228.00 over the past 52 weeks. > Grindwell Norton Ltd grows steadily. It earns returns above 15% with few surprises. GRINDWELL · Abrasives & Grinding Wheels · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/grindwell-norton-ltd

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## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: ₹1,950.30 (+21.7% in a year)
- P/E: 46.7× (higher than 51% of the last 11 years)
- Revenue (Sep 2026): ₹884 Cr (+14.1% on a year ago)
- Profit (Sep 2026): ₹133 Cr (+24.3% on a year ago)
- Operating margin: 19.0% (+1.0 points on a year ago)
- ROCE: 21%, FY26
- ROIC: 27.1%, against a 12.0% cost of capital: +15.1 points

The main question: foreign institutions moved −2.9 percentage points over 8 quarters while the business went the other way. ## What is the 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. 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. ## What changed at Grindwell Norton this quarter? 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. ## What are Grindwell Norton's latest quarterly results? 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

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹884 crore | ₹775 crore | +14.1% |
| Profit | ₹133 crore | ₹107 crore | +24.3% |
| Earnings per share | ₹11.99 | ₹9.65 | +24.2% |
| Operating margin | 19.0% | 18.0% | +1.0 points |

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.)

## What is the Grindwell Norton share price history? 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

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹1,878.60 | +3.8% |
| 1 month ago · 1 Oct 2026 | ₹1,975.80 | −1.3% |
| 6 months ago · 8 May 2026 | ₹1,684.80 | +15.8% |
| 1 year ago · 7 Nov 2025 | ₹1,602.00 | +21.7% |
| 3 years ago · 3 Nov 2023 | ₹2,099.40 | −7.1% |
| 5 years ago · 4 Nov 2021 | ₹1,644.15 | +18.6% |
| 10 years ago · 4 Nov 2016 | ₹324.50 | +501.0% |
| Earliest weekly close in our records · 26 Feb 2016 | ₹300.00 | +550.1% |
| Highest weekly close since February 2016 · 5 Jul 2024 | ₹2,856.35 | −31.7% |
| Lowest weekly close since February 2016 · 4 Mar 2016 | ₹297.68 | +555.2% |
| 52-week high (weekly close) · 25 Jun 2026 | ₹2,228.00 | −12.5% |
| 52-week low (weekly close) · 27 Mar 2026 | ₹1,369.90 | +42.4% |

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.)

## What is the latest news on Grindwell Norton? 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.)

## What dividend does Grindwell Norton pay? 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

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 10 Jul 2026 | ₹19 | Dividend |
| 15 Jul 2025 | ₹17 | Dividend |
| 9 Jul 2024 | ₹17 | Dividend |
| 4 Aug 2023 | ₹14.50 | Dividend |
| 19 Jul 2022 | ₹12 | Dividend |
| 19 Jul 2021 | ₹9.50 | Dividend |

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. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

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.)

## What did Grindwell Norton management say on the latest results call? 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](https://files.tijoristack.ai/concall/transcript/798-29-May-2026.pdf). (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 the future of Grindwell Norton? What is changing in the business? 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.)

## What could change the Grindwell Norton story? What are the risks? 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.)

## What to watch in Grindwell Norton's next results? 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. - What to check (from the call)
- 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. - Life Sciences export revenue materialization in segment data: currently nascent post-restart; next call should show whether Europe and North America revenue is visible, validating medium-term qualification thesis or signaling further delays. - Halol second-phase completion and C&P EBIT ramp acceleration: nearly complete per management; next call should confirm go-live, production ramp pace, and resulting EBIT contribution sustaining margin expansion. - PSA expansion at Ambernath progress with customer wins or sample orders: described as major ongoing spending; next call should detail completion timeline and early customer engagement validating material PPS growth driver. ## Which stock lists is Grindwell Norton on? Grindwell Norton is on one of our India lists: Small & mid cap stocks. [Small & mid cap stocks Size rank in India: 352](https://www.sectoralpha.in/small-cap-stocks-india)

## Is Grindwell Norton profitable? 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. 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. ## How much revenue does Grindwell Norton make, and is it growing? 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. 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. ## How much of every ₹100 of sales does Grindwell Norton keep? 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. 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. ## Is Grindwell Norton's profit turning into cash? 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. 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. ## Where does Grindwell Norton's cash go? 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. 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. ## What is Grindwell Norton's P/E ratio, and how does it compare with its own history? 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. Why the multiple is where it is: over the past year earnings per share moved +12.7% while the price moved +21.7%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 5 years the price moved +3.5% a year; about +10.9% a year came from earnings growth and about −7.4 percentage points from the multiple (the market paying less); over 10 years the price moved +19.6% a year; about +15.0% a year came from earnings growth and about +4.6 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Grindwell Norton business getting better or worse? Grindwell Norton Ltd's business is giving mixed signals. There is no clear direction across the growth lines, with ROCE steady at 24.1%; each line tells part of the story. This is based on 12 quarters of 4 measures. Why it matters: when the lines disagree, each line above matters more than any single label. ## What is the Grindwell Norton story, and has it been checked? Grindwell Norton Ltd's story is not scored yet against the checks our research set on 19 July 2026. Where it sits in its own cycle: Not stated in the research file. Our read, 19 July 2026. What is proven. What is not proven yet. What would change our mind. The test written in advance. Measured by: the thesis as written as stated by the next result. The test written in advance. The test written in advance. C&P margin and capacity conversion uncertainty. Measured by: C&P margin and capacity conversion uncertainty C&P revenue grows without corresponding profit conversion after Halol phase completion. by the next result. What the company does. Ceramics and Plastics is growing faster than Abrasives and has delivered higher profit growth, providing the clearest mix-driven earnings lever. What the surface reading misses. The surface reading is: Faster segment profit growth points to an improving specialty mix. The research reads it further: Segment profit grew faster than revenue, and management attributes the difference to operating leverage and favorable mix. The Halol expansion is the physical co-mover that must convert this mix into repeatable volume. What the surface reading misses. The surface reading is: Costlier competing imports should improve the domestic competitive position. The research reads it further: The commercial benefit is only real if share gain and a positive price-cost spread accompany the policy change. Management's market-share evidence is the near-term co-mover, while realized pricing is the decisive confirmation. Lever 1 · Operating leverage: building. Ceramics and Plastics is the clearest earnings lever because segment profit grew faster than segment revenue. What proves it keeps working: C&P mix and operating leverage. It stops working if C&P growth falls back toward the Abrasives rate while segment profit stops outgrowing revenue after the capacity ramp. Sources: our stock research file (19 July 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## How much does Grindwell Norton earn on its capital? Grindwell Norton Ltd earned a ROCE of 21% in FY26. That is up from a low of 20% in FY17. Its return on capital used (ROIC) is 15.1 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 13.6% net margin and 0.89× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 13.6% net margin × 0.89× asset turnover × 1.36× leverage (assets divided by equity) ≈ 16.5% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 27.1% − 12.0% = +15.1 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. A gap this wide means each rupee put back into the business creates more than a rupee of value. The 27.1% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 24.9%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Grindwell Norton have too much debt? Grindwell Norton Ltd has total debt of ₹56.0 Cr against shareholder equity of ₹2,618 Cr as of Sep 2026, so its debt is 0.02× its equity, which is very little. Year by year, that ratio went from 0.01 in FY22 to 0.02 in FY26. So the returns on this page come from the business, not from borrowed money. Why this happened. The segment's revenue and profit growth moved together in a way consistent with operating leverage and a richer specialty mix. The second Halol phase and related capacity spending create the physical route for continuation, but management will not commit to a normalized margin level. The driver works only if the capacity ramp converts into repeatable specialty revenue rather than a one-off mix benefit. ## What is the Grindwell Norton shareholding pattern? Domestic institutions raised their stake in Grindwell Norton Ltd by 3.0 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 19.7% of the company. Foreign institutions moved −2.9 points over the same period, to 5.3%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: +3.0 points over 8 quarters, to 19.7%; Foreign institutions: −2.9 points over 8 quarters, to 5.3%; Promoters: +0.0 points over 8 quarters, to 58.0%. Why the owners changed: foreign institutions moved −2.9 points and domestic institutions +3.0 points over 8 quarters, while promoters stayed about the same. One group of institutions took over shares from the other; it is not a change of mind by the people running the company. ## How far is Grindwell Norton from balance-sheet trouble? For Grindwell Norton Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Grindwell Norton rank in its industry? 67.1 out of 100, rank 1 of 3 in Abrasives & Grinding Wheels, with 97% of the evidence available. Grindwell Norton Ltd scores 67.1 out of 100 against the 3 companies it is compared with in Abrasives & Grinding Wheels, ranking 1. Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. The four parts add up to the total exactly: 26.9 + 22.1 + 4.6 + 13.5 = 67.1. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Grindwell Norton compared with? Grindwell Norton ranks 1 of 3 Abrasives & Grinding Wheels companies on the 4-Factor Sector Score, with 67.1 out of 100. 1. Grindwell Norton Ltd this page GRINDWELL · quiet · Most evidence points up · 97% evidence 67.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.9/35 · Revenue 13.5% · Profit 21.2% · Operating margin change 1 points · 100% evidence Capital efficiency 22.1/25 · ROCE 21.2% · Operating margin 19% · 100% evidence Valuation 4.6/20 · P/E 45× · PEG 4.15 · 85% evidence Relative strength 13.5/20 · Lead over its industry 3.4% · Lead over NIFTY 500 11.2% · 1 year 11.2% · 100% evidence · 2 of 12 weeks ahead Exact sum: 26.9 + 22.1 + 4.6 + 13.5 = 67.1 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Carborundum Universal Ltd](https://www.sectoralpha.in/stocks/carborundum-universal-ltd) CARBORUNIV · losing its lead · Evidence leans down · 75% evidence 43.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 9.2/35 · Revenue 10.2% · Profit -23.4% · Operating margin change -1 points · 83% evidence Capital efficiency 9.3/25 · ROCE 10.5% · Operating margin 9% · 76% evidence Valuation 6.9/20 · P/E 78.3× · PEG n/a · 35% evidence Relative strength 18.3/20 · Lead over its industry 3.1% · Lead over NIFTY 500 10.5% · 1 year 14.4% · 100% evidence · 8 of 12 weeks ahead Exact sum: 9.2 + 9.3 + 6.9 + 18.3 = 43.7 · What this means: Relative strength against the index is 10.5%, and revenue and profit growth are weak. 3. [Wendt India Ltd](https://www.sectoralpha.in/stocks/wendt-india-ltd) WENDT · quiet · Most evidence points down · 82% evidence 33.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.8/35 · Revenue 14.1% · Profit -28.4% · Operating margin change 2.8 points · 100% evidence Capital efficiency 8.6/25 · ROCE 7.8% · Operating margin 14.6% · 100% evidence Valuation 2.3/20 · P/E 68.5× · PEG 3.5 · 85% evidence Relative strength 7.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -5.8% · 1 year -21.8% · 25% evidence · 9 of 12 weeks ahead Exact sum: 14.8 + 8.6 + 2.3 + 7.5 = 33.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Abrasives & Grinding Wheels](https://www.sectoralpha.in/sectors/abrasives-grinding-wheels), all 3 compared on one page. ## Which companies are close to Grindwell Norton in size? Grindwell Norton is the largest of 3 Abrasives & Grinding Wheels companies on Sector Alpha by market value (scores of 30 October 2026). It is the largest. Just below it: Carborundum Universal and Wendt India. ### Abrasives & Grinding Wheels companies close in size

1. Grindwell Norton Ltd ₹20,800 crore
2. [Carborundum Universal Ltd](https://www.sectoralpha.in/stocks/carborundum-universal-ltd) ₹19,628 crore
3. [Wendt India Ltd](https://www.sectoralpha.in/stocks/wendt-india-ltd) ₹1,352 crore

[All 3 Abrasives & Grinding Wheels companies, largest first](https://www.sectoralpha.in/sectors/abrasives-grinding-wheels#all-companies)

### Companies close in size in other industries

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2. [SJVN Ltd](https://www.sectoralpha.in/stocks/sjvn-ltd) ₹20,981 crore · Power - Generation/Distribution
3. Grindwell Norton Ltd ₹20,800 crore
4. [ITI Ltd](https://www.sectoralpha.in/stocks/iti-ltd) ₹20,799 crore · Telecom Services
5. [Deepak Nitrite Ltd](https://www.sectoralpha.in/stocks/deepak-nitrite-ltd) ₹20,724 crore · Chemicals - Inorganic

## What else do people ask about Grindwell Norton? ### What is Grindwell Norton's share price today? Grindwell Norton Ltd's share price is ₹1,950.30, +21.7% over the past year. The whole company is worth ₹21,589 Cr on the market. In the last 52 weeks it traded between ₹1,370 to ₹2,228; today it is 68% of the way up from the low, 4.1% above its 200-day average (as of 4 November 2026). ### What were Grindwell Norton's latest quarterly results? Grindwell Norton Ltd reported revenue of ₹884 Cr and net profit of ₹133 Cr for the Sep 2026 quarter. Revenue rose 14.1% and profit rose 24.3% compared with a year earlier. Earnings per share were ₹11.99. The operating margin was 19.0%, 1.0 percentage points higher than a year earlier (as of 4 November 2026). ### What is Grindwell Norton's market cap? Grindwell Norton Ltd's market capitalisation is ₹21,589 Cr at a share price of ₹1,950.30. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is Grindwell Norton performing? Grindwell Norton Ltd's share price has been rising for 23 weeks. In its latest quarter, revenue rose 14.1% and profit rose 24.3% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 4 weeks running (as of 4 November 2026). ### Will Grindwell Norton's share price go up? This page does not forecast Grindwell Norton Ltd's share price. What it shows instead: the share price is ₹1,950.30, and it has been rising for 23 weeks. Its P/E of 46.7× is higher than 51% of its own last 11 years (as of 4 November 2026). ### Who owns Grindwell Norton? Promoters own 58.0% of Grindwell Norton Ltd, foreign institutions 5.3%, domestic institutions 19.7% and the public 16.9% (latest quarter). The biggest change over the last two years: Domestic institutions raised their stake by 3.0 percentage points over 8 quarters (as of 4 November 2026). ### Does Grindwell Norton have too much debt? No, Grindwell Norton Ltd has little debt: its debt is 0.02× its equity, and its operating profit is 72 times its interest bill. FY26 borrowings were ₹61.0 Cr against equity of ₹2,534 Cr. So the returns on this page come from the business, not borrowed money (as of 4 November 2026). ### Where is Grindwell Norton in its business cycle? Grindwell Norton Ltd's FY26 operating margin was 19.0%, against a 13-year range of 15.0% to 20.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 19.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the Grindwell Norton story? The main question: foreign institutions moved −2.9 percentage points over 8 quarters while the business went the other way. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is Grindwell Norton a stock worth studying right now? What the numbers show: Grindwell Norton Ltd grows steadily. It earns returns above 15% with few surprises. The main open question: whether the owners’ moves turn back in line with the business. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a Grindwell Norton share price forecast for 2026? What management itself guided: Abrasives long-term aim: double-digit growth or at least 2 percent faster than IIP or GDP. 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. What would change the story: C&P growth falls back toward the Abrasives rate while segment profit stops outgrowing revenue after the capacity ramp. ## Lists

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