Announcement • May 05
Grindwell Norton Limited to Report Q4, 2026 Results on May 08, 2026 Grindwell Norton Limited announced that they will report Q4, 2026 results on May 08, 2026 Reported Earnings • Feb 07
Third quarter 2026 earnings: EPS and revenues miss analyst expectations Third quarter 2026 results: EPS: ₹8.60 (up from ₹7.84 in 3Q 2025). Revenue: ₹7.72b (up 9.8% from 3Q 2025). Net income: ₹951.7m (up 9.6% from 3Q 2025). Profit margin: 12% (in line with 3Q 2025). Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) also missed analyst estimates by 8.5%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Jan 16
Grindwell Norton Limited to Report Q3, 2026 Results on Feb 06, 2026 Grindwell Norton Limited announced that they will report Q3, 2026 results on Feb 06, 2026 Reported Earnings • Nov 01
Second quarter 2026 earnings: EPS and revenues exceed analyst expectations Second quarter 2026 results: EPS: ₹9.65 (up from ₹8.69 in 2Q 2025). Revenue: ₹8.06b (up 16% from 2Q 2025). Net income: ₹1.07b (up 11% from 2Q 2025). Profit margin: 13% (in line with 2Q 2025). Revenue exceeded analyst estimates by 7.0%. Earnings per share (EPS) also surpassed analyst estimates by 10%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Oct 14
Grindwell Norton Limited to Report Q2, 2026 Results on Oct 30, 2025 Grindwell Norton Limited announced that they will report Q2, 2026 results on Oct 30, 2025 Announcement • Jul 10
Grindwell Norton Limited to Report Q1, 2026 Results on Jul 25, 2025 Grindwell Norton Limited announced that they will report Q1, 2026 results on Jul 25, 2025 Upcoming Dividend • Jul 08
Upcoming dividend of ₹17.00 per share Eligible shareholders must have bought the stock before 15 July 2025. Payment date: 24 August 2025. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Indian dividend payers (1.2%). Higher than average of industry peers (0.8%). Reported Earnings • Jul 04
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: ₹33.30 (down from ₹34.65 in FY 2024). Revenue: ₹28.1b (up 4.6% from FY 2024). Net income: ₹3.69b (down 3.9% from FY 2024). Profit margin: 13% (down from 14% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 1.5%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 1% per year. Reported Earnings • May 12
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: ₹33.30 (down from ₹34.65 in FY 2024). Revenue: ₹28.9b (up 7.6% from FY 2024). Net income: ₹3.69b (down 3.9% from FY 2024). Profit margin: 13% (down from 14% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 1.5%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • May 09
Grindwell Norton Limited, Annual General Meeting, Jul 25, 2025 Grindwell Norton Limited, Annual General Meeting, Jul 25, 2025. Announcement • Apr 28
Grindwell Norton Limited to Report Q4, 2025 Results on May 09, 2025 Grindwell Norton Limited announced that they will report Q4, 2025 results on May 09, 2025 Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹1,797, the stock trades at a forward P/E ratio of 47x. Average forward P/E is 31x in the Machinery industry in India. Total returns to shareholders of 3.5% over the past three years. Announcement • Feb 20
Grindwell Norton Limited Announces Retirement of B. Santhanam as Managing Director, Effective March 31, 2025 Grindwell Norton Limited announced that at its board meeting held on February 20, 2025, noted and took on record the retirement of Mr. B. Santhanam, managing director of the company with effect from close of business hours of March 31, 2025. Price Target Changed • Feb 15
Price target decreased by 7.4% to ₹2,177 Down from ₹2,350, the current price target is an average from 4 analysts. New target price is 36% above last closing price of ₹1,601. Stock is down 27% over the past year. The company is forecast to post earnings per share of ₹33.62 for next year compared to ₹34.65 last year. Reported Earnings • Feb 14
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: ₹7.84 (down from ₹8.32 in 3Q 2024). Revenue: ₹7.21b (up 9.2% from 3Q 2024). Net income: ₹868.2m (down 5.8% from 3Q 2024). Profit margin: 12% (down from 14% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 9.9%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Jan 31
Grindwell Norton Limited to Report Q3, 2025 Results on Feb 13, 2025 Grindwell Norton Limited announced that they will report Q3, 2025 results on Feb 13, 2025 Reported Earnings • Oct 31
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: ₹8.69 (down from ₹9.20 in 2Q 2024). Revenue: ₹7.17b (up 7.5% from 2Q 2024). Net income: ₹961.8m (down 5.6% from 2Q 2024). Profit margin: 13% (down from 15% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 5.4%. Earnings per share (EPS) also missed analyst estimates by 3.4%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 10% per year and the company’s share price has also increased by 10% per year. Announcement • Oct 14
Grindwell Norton Limited to Report Q2, 2025 Results on Oct 30, 2024 Grindwell Norton Limited announced that they will report Q2, 2025 results on Oct 30, 2024 Announcement • Jul 19
Grindwell Norton Limited Approves the Appointment of Kaustubh Govind Shukla as Independent Director Grindwell Norton Limited at its AGM held on July 18, 2024, approved the appointment of Mr. Kaustubh Govind Shukla as an Independent Director of the Company. Announcement • Jul 10
Grindwell Norton Limited to Report Q1, 2025 Results on Jul 18, 2024 Grindwell Norton Limited announced that they will report Q1, 2025 results on Jul 18, 2024 Upcoming Dividend • Jul 02
Upcoming dividend of ₹17.00 per share Eligible shareholders must have bought the stock before 09 July 2024. Payment date: 22 July 2024. Payout ratio is a comfortable 49% and the cash payout ratio is 82%. Trailing yield: 0.6%. Lower than top quartile of Indian dividend payers (1.1%). In line with average of industry peers (0.6%). Reported Earnings • Jun 29
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ₹34.65 (up from ₹32.69 in FY 2023). Revenue: ₹26.9b (up 5.7% from FY 2023). Net income: ₹3.84b (up 6.0% from FY 2023). Profit margin: 14% (in line with FY 2023). Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 3.6%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 08
Grindwell Norton Limited, Annual General Meeting, Jul 18, 2024 Grindwell Norton Limited, Annual General Meeting, Jul 18, 2024. Agenda: To consider payment dividend; to consider board changes. Reported Earnings • May 07
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ₹34.65 (up from ₹32.69 in FY 2023). Revenue: ₹27.6b (up 8.4% from FY 2023). Net income: ₹3.84b (up 6.0% from FY 2023). Profit margin: 14% (in line with FY 2023). Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 3.6%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 20% per year. Announcement • Apr 17
Grindwell Norton Limited to Report Q4, 2024 Results on May 06, 2024 Grindwell Norton Limited announced that they will report Q4, 2024 results on May 06, 2024 Reported Earnings • Feb 04
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: ₹8.32 (up from ₹7.24 in 3Q 2023). Revenue: ₹6.74b (up 12% from 3Q 2023). Net income: ₹921.6m (up 15% from 3Q 2023). Profit margin: 14% (in line with 3Q 2023). Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 5.5%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 20
Grindwell Norton Limited to Report Q3, 2024 Results on Feb 03, 2024 Grindwell Norton Limited announced that they will report Q3, 2024 results at 12:15 PM, Indian Standard Time on Feb 03, 2024 Reported Earnings • Nov 09
Second quarter 2024 earnings: EPS in line with expectations, revenues disappoint Second quarter 2024 results: EPS: ₹9.20 (up from ₹8.13 in 2Q 2023). Revenue: ₹6.90b (up 8.7% from 2Q 2023). Net income: ₹1.02b (up 13% from 2Q 2023). Profit margin: 15% (in line with 2Q 2023). Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 57% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 24
Grindwell Norton Limited to Report Q2, 2024 Results on Nov 08, 2023 Grindwell Norton Limited announced that they will report Q2, 2024 results on Nov 08, 2023 Announcement • Oct 21
Grindwell Norton Limited Announces Management Changes The Board of Directors of Grindwell Norton Limited at its meeting held on October 19, 2023 taken on record the retirement of Mr. Deepak Chindarkar with effect from December 31, 2023. Based on the recommendation of Nomination and Remuneration Committee and approval of the Audit Committee. The Board of Directors at its meeting held on October 19, 2023, appointed Mr. Hari Singudasu as Chief Financial Officer of the Company, effective from January 1, 2024, consequent to the retirement of Mr. Deepak Chindarkar with effect from December 31, 2023. Mr. Hari Singudasu is associated with the Company with more than two decades. He started his career in the Company as Plant Finance Controller- Mora and had a highly successful stint in various business segments within Abrasives including Head of Abrasives Business. He holds a professional degree from Institute of Cost and Works Accountant of India and also holds Post Graduate Diploma in Management from Institute of Rural Management, Anand. His professional qualification and extensive business acumen will immensely benefit the Company. His tenure will last until his resignation or until he reaches the retirement age, whichever is earlier. Announcement • Aug 01
Grindwell Norton Limited to Report Q1, 2024 Results on Aug 14, 2023 Grindwell Norton Limited announced that they will report Q1, 2024 results on Aug 14, 2023 Upcoming Dividend • Jul 28
Upcoming dividend of ₹14.50 per share at 0.7% yield Eligible shareholders must have bought the stock before 04 August 2023. Payment date: 13 September 2023. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Indian dividend payers (1.5%). In line with average of industry peers (0.8%). Reported Earnings • Jul 21
Full year 2023 earnings: EPS in line with analyst expectations despite revenue beat Full year 2023 results: EPS: ₹32.69 (up from ₹26.70 in FY 2022). Revenue: ₹25.4b (up 26% from FY 2022). Net income: ₹3.62b (up 22% from FY 2022). Profit margin: 14% (in line with FY 2022). Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 66% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 25
Grindwell Norton Limited Approves the Appointment of Mr. Jean-Claude Lasserre as an Additional Director Grindwell Norton Limited approved the appointment of Mr. Jean-Claude Lasserre (Director Identification No. 10082026) as an Additional Director of the Company under the Non-Executive category with effect from May 24, 2023, through circular resolutions. The details as required under Regulation 30 of the SEBI Listing Regulations, as amended, SEBI circular CIR/CFD/CMD/4/2015 dated September 9, 2015, circular nos. LIST/COMP/14/2018-19 and NSE/CML/2018/02 dated June 20, 2018, issued by the BSE and NSE, respectively are annexed. Mr. Jean-Claude Lasserre is CEO SG Surface Solutions since February 2023 and prior to this he was also CEO Africa & Sub- Saharan Africa, overlooking operations in 12 countries with 18 manufacturing facilities within the continent. He has vast experience of 25 years in Saint- Gobain and held various positions from Business Development to General Management in various countries across Asia, Europe, South America and Africa. He holds a Master's degree in Business Administration & Postgraduate degree in Quantitative Marketing. Reported Earnings • May 08
Full year 2023 earnings: EPS in line with analyst expectations despite revenue beat Full year 2023 results: EPS: ₹32.69 (up from ₹26.70 in FY 2022). Revenue: ₹26.0b (up 29% from FY 2022). Net income: ₹3.62b (up 22% from FY 2022). Profit margin: 14% (in line with FY 2022). Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 14
Grindwell Norton Limited Announces Relinquishment of Office of the Director of Laurent Tellier Grindwell Norton Limited announced that at the board meeting held on February 13, 2023 announced that Mr. Laurent Tellier relinquished the office of the Director of the Company with effect from close of business hours of February 13, 2023, owing to his other professional commitments. Reported Earnings • Feb 14
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: ₹7.24 (up from ₹6.30 in 3Q 2022). Revenue: ₹6.13b (up 22% from 3Q 2022). Net income: ₹801.9m (up 15% from 3Q 2022). Profit margin: 13% (in line with 3Q 2022). Revenue missed analyst estimates by 3.8%. Earnings per share (EPS) also missed analyst estimates by 7.2%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 01
Grindwell Norton Limited to Report Q3, 2023 Results on Feb 13, 2023 Grindwell Norton Limited announced that they will report Q3, 2023 results on Feb 13, 2023 Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Non-Executive & Independent Director Subodh Nadkarni was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • Nov 10
Price target increased to ₹2,099 Up from ₹1,953, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of ₹2,118. Stock is up 19% over the past year. The company is forecast to post earnings per share of ₹33.61 for next year compared to ₹26.70 last year. Reported Earnings • Nov 03
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: ₹8.13 (up from ₹6.50 in 2Q 2022). Revenue: ₹6.61b (up 29% from 2Q 2022). Net income: ₹900.6m (up 25% from 2Q 2022). Profit margin: 14% (in line with 2Q 2022). Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) also surpassed analyst estimates by 1.6%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Machinery industry in India. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 53% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 30
Grindwell Norton Limited Appoints. Aakil Mahajan as an Additional Director of the Company Under Non-Executive Director Category Grindwell Norton Limited appointed Mr. Aakil Mahajan, (Director Identification No. 09682529) as an Additional Director of the Company under Non-Executive Director category. Date of appointment is July 30, 2022.He did B.S. in Industrial Engineering from Northwestern University, Evanston, USA along with a certificate in Managerial Analytics from the Kellogg School of Business. MBA from IESE Business School, of the University of Navarra, Barcelona, Spain.After completing his graduation in 2010, Aakil Mahajan interned with Saint-Gobain Performance Plastics for one year in Worcester, MA, USA. He returned to India in 2011 and worked as an analyst within the Business Advisory Services vertical of EY in Bangalore before joining Pratham Foundation, one of the largest NGOs in India that works in the education space. During the three years that he worked at Pratham, he co-led the creation of the Measurement, Monitoring and Evaluation function within the organization. Between 2015 and 2017, he studied for and received his Master's Degree in Business Administration. On completion of his Master's in 2017. he moved to Amsterdam and joined Henkel, a world leader in Adhesives Technologies, Beauty Care and Laundry & Home Care, as global purchasing manager. In 2019, he moved to PVH, a global fashion and lifestyle companies whose brand portfolio includes the iconic Calvin Klein and Tommy Hilfiger, and was responsible for the global sourcing and buying processes and systems. Earlier in 2022, he has taken up a new position with Kraft Heinz in Amsterdam. AakilMahajan is a Trustee of Yash Charitable Trust, Mumbai, an NGO whose mission is to enable people with developmental disabilities to become responsible, productive members of their communities. Announcement • Jul 21
Grindwell Norton Limited to Report Q1, 2023 Results on Jul 29, 2022 Grindwell Norton Limited announced that they will report Q1, 2023 results on Jul 29, 2022 Upcoming Dividend • Jul 12
Upcoming dividend of ₹12.00 per share Eligible shareholders must have bought the stock before 19 July 2022. Payment date: 28 August 2022. Payout ratio is a comfortable 45% but the company is paying out more than the cash it is generating. Trailing yield: 0.7%. Lower than top quartile of Indian dividend payers (1.8%). In line with average of industry peers (0.8%). Reported Earnings • Jul 06
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: ₹26.70 (up from ₹21.60 in FY 2021). Revenue: ₹20.1b (up 23% from FY 2021). Net income: ₹2.96b (up 24% from FY 2021). Profit margin: 15% (in line with FY 2021). Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) also surpassed analyst estimates by 3.2%. Over the next year, revenue is forecast to grow 16%, compared to a 18% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 08
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: ₹26.70 (up from ₹21.60 in FY 2021). Revenue: ₹20.7b (up 26% from FY 2021). Net income: ₹2.96b (up 24% from FY 2021). Profit margin: 14% (in line with FY 2021). Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) also surpassed analyst estimates by 3.2%. Over the next year, revenue is forecast to grow 10%, compared to a 11% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 08
Grindwell Norton Limited Recommends Dividend for the Financial Year 2021-22 The Board of Directors of Grindwell Norton Limited have recommended a dividend of INR 12 per equity share of INR 5 each for the financial year 2021-22, subject to the approval of the Members at the ensuing AGM of the Company to be held on Friday, July 29, 2022. The Dividend, if approved shall be paid/dispatched on the fourth day from the conclusion of 72nd AGM of the Company, subject to the approval of the Members of the Company. Announcement • May 07
Grindwell Norton Limited, Annual General Meeting, Jul 29, 2022 Grindwell Norton Limited, Annual General Meeting, Jul 29, 2022. Agenda: To consider the appointment of M/s. Kalyaniwalla & Mistry LLP, Chartered Accountants as the Statutory Auditors of the Company in place of M/s. Price Waterhouse Chartered Accountants LLP; to consider a dividend of INR 12 per equity share of INR 5 each for the financial year 2021-22; and to consider other matters. Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 independent directors. 6 non-independent directors. Non-Executive & Independent Director Subodh Nadkarni was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Feb 07
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: ₹6.30 (up from ₹5.96 in 3Q 2021). Revenue: ₹5.02b (up 9.7% from 3Q 2021). Net income: ₹697.0m (up 5.7% from 3Q 2021). Profit margin: 14% (in line with 3Q 2021). Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) also missed analyst estimates by 3.1%. Over the next year, revenue is forecast to grow 15%, compared to a 12% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 53% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 04
Grindwell Norton Limited Appoints Krishna Prasad as an Additional Director Grindwell Norton Limited, at the board meeting held on February 3, 2022 on the recommendation of the Nomination and Remuneration Committee has approved the appointment of Mr. Krishna Prasad as an Additional Director of the Company under the Executive Director category with effect from February 3, 2022. Executive Departure • Dec 06
Non-Executive Director Isabelle Hoepfner has left the company On the 1st of December, Isabelle Hoepfner's tenure as Non-Executive Director ended after 1.5 years in the role. We don't have any record of a personal shareholding under Isabelle's name. A total of 2 executives have left over the last 12 months. Price Target Changed • Nov 10
Price target increased to ₹1,633 Up from ₹1,499, the current price target is an average from 5 analysts. New target price is 7.7% below last closing price of ₹1,769. Stock is up 226% over the past year. The company is forecast to post earnings per share of ₹26.46 for next year compared to ₹21.60 last year. Reported Earnings • Nov 04
Second quarter 2022 earnings released: EPS ₹6.50 (vs ₹5.81 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹5.23b (up 19% from 2Q 2021). Net income: ₹2.57b (up 299% from 2Q 2021). Profit margin: 49% (up from 15% in 2Q 2021). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improved over the past week After last week's 19% share price gain to ₹1,487, the stock trades at a forward P/E ratio of 55x. Average forward P/E is 31x in the Machinery industry in India. Total returns to shareholders of 194% over the past three years. Recent Insider Transactions • Aug 13
Insider recently sold ₹1.9m worth of stock On the 10th of August, Khurshid Narang sold around 2k shares on-market at roughly ₹1,205 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought ₹7.6m more than they sold in the last 12 months. Executive Departure • Aug 06
Non-Executive Director Laurent Guillot has left the company On the 28th of July, Laurent Guillot's tenure as Non-Executive Director ended after 5.5 years in the role. We don't have any record of a personal shareholding under Laurent's name. Laurent is the only executive to leave the company over the last 12 months. Price Target Changed • Aug 01
Price target increased to ₹1,425 Up from ₹1,318, the current price target is an average from 5 analysts. New target price is 14% above last closing price of ₹1,249. Stock is up 160% over the past year. Upcoming Dividend • Jul 12
Upcoming dividend of ₹9.50 per share Eligible shareholders must have bought the stock before 19 July 2021. Payment date: 27 August 2021. Trailing yield: 0.7%. Lower than top quartile of Indian dividend payers (1.5%). In line with average of industry peers (0.8%). Reported Earnings • Jul 06
Full year 2021 earnings released: EPS ₹21.60 (vs ₹16.49 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹16.4b (up 3.7% from FY 2020). Net income: ₹2.39b (up 31% from FY 2020). Profit margin: 15% (up from 12% in FY 2020). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 14
Investor sentiment improved over the past week After last week's 15% share price gain to ₹1,210, the stock trades at a forward P/E ratio of 50x. Average forward P/E is 26x in the Machinery industry in India. Total returns to shareholders of 146% over the past three years. Major Estimate Revision • May 14
Consensus EPS estimates increase to ₹24.35 The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from ₹17.9b to ₹19.0b. EPS estimate increased from ₹20.98 to ₹24.35 per share. Net income forecast to grow 13% next year vs 23% growth forecast for Machinery industry in India. Consensus price target of ₹856 unchanged from last update. Share price rose 15% to ₹1,210 over the past week. Reported Earnings • May 09
Full year 2021 earnings released: EPS ₹21.60 (vs ₹16.49 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹16.9b (up 6.9% from FY 2020). Net income: ₹2.39b (up 31% from FY 2020). Profit margin: 14% (up from 12% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 08
Grindwell Norton Limited Recommends a Dividend for the Financial Year 2020-21 The Board of Directors of Grindwell Norton Limited has recommended a dividend of INR 9.50/- per equity share (190%) of INR 5/- each for the financial year 2020-21, subject to the approval of the Members at the ensuing AGM. The Register of Members and Share Transfer Books of the Company will remain closed from July 22, 2021 to July 28, 2021, (both days inclusive) for the purpose of the AGM and for the payment of dividend, subject to the approval of the Members at the ensuing AGM of the company. Is New 90 Day High Low • Mar 01
New 90-day high: ₹911 The company is up 51% from its price of ₹603 on 01 December 2020. The Indian market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 26% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₹266 per share. Recent Insider Transactions • Feb 28
Insider recently bought ₹977k worth of stock On the 22nd of February, Rajani Seshadri bought around 1k shares on-market at roughly ₹814 per share. In the last 3 months, they made an even bigger purchase worth ₹1.8m. Insiders have collectively bought ₹9.5m more in shares than they have sold in the last 12 months. Major Estimate Revision • Feb 05
Analysts increase EPS estimates to ₹19.15 The 2021 consensus revenue estimate increased from ₹14.9b to ₹15.8b. The earnings per share estimate also received an upgrade from ₹15.93 to ₹19.15 for the same period. Net income is expected to grow by 11% next year compared to 16% growth forecast for the Machinery industry in India. The consensus price target increased from ₹588 to ₹667. Share price is up 16% to ₹801 over the past week. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment improved over the past week After last week's 16% share price gain to ₹801, the stock is trading at a trailing P/E ratio of 44.3x, up from the previous P/E ratio of 38.1x. This compares to an average P/E of 22x in the Machinery industry in India. Total returns to shareholders over the past three years are 65%. Is New 90 Day High Low • Feb 03
New 90-day high: ₹780 The company is up 40% from its price of ₹556 on 05 November 2020. The Indian market is up 22% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 28% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₹271 per share. Price Target Changed • Feb 02
Price target raised to ₹626 Up from ₹554, the current price target is an average from 4 analysts. The new target price is 16% below the current share price of ₹741. As of last close, the stock is up 14% over the past year. Reported Earnings • Jan 30
Third quarter 2021 earnings released: EPS ₹5.96 (vs ₹4.18 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹4.63b (up 13% from 3Q 2020). Net income: ₹659.4m (up 43% from 3Q 2020). Profit margin: 14% (up from 11% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 11% per year. Analyst Estimate Surprise Post Earnings • Jan 30
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 8.0%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Over the next year, revenue is forecast to grow 9.9%, compared to a 23% growth forecast for the Machinery industry in India. Announcement • Jan 21
Grindwell Norton Limited to Report Q3, 2021 Results on Jan 29, 2021 Grindwell Norton Limited announced that they will report Q3, 2021 results on Jan 29, 2021 Is New 90 Day High Low • Jan 05
New 90-day high: ₹757 The company is up 40% from its price of ₹541 on 07 October 2020. The Indian market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 24% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₹233 per share. Is New 90 Day High Low • Dec 10
New 90-day high: ₹680 The company is up 31% from its price of ₹520 on 11 September 2020. The Indian market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₹233 per share. Recent Insider Transactions • Dec 06
Insider recently bought ₹1.8m worth of stock On the 2nd of December, Rajani Seshadri bought around 3k shares on-market at roughly ₹616 per share. In the last 3 months, they made an even bigger purchase worth ₹3.5m. Insiders have collectively bought ₹7.7m more in shares than they have sold in the last 12 months. Is New 90 Day High Low • Nov 18
New 90-day high: ₹569 The company is up 4.0% from its price of ₹548 on 20 August 2020. The Indian market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₹219 per share. Price Target Changed • Nov 09
Price target raised to ₹558 Up from ₹519, the current price target is an average from 4 analysts. The new target price is close to the current share price of ₹551. As of last close, the stock is down 7.3% over the past year. Reported Earnings • Nov 01
First half earnings released Over the last 12 months the company has reported total profits of ₹1.80b, up 1.0% from the prior year. Total revenue was ₹14.6b over the last 12 months, down 9.0% from the prior year. Analyst Estimate Surprise Post Earnings • Nov 01
Second-quarter earnings released: Revenue and earnings beat expectations Second-quarter revenue exceeded analyst estimates by 25% at ₹4.39b. Earnings per share (EPS) also surpassed analyst estimates by 66% at ₹5.81. Revenue is forecast to grow 6.3% over the next year, compared to a 19% growth forecast for the Machinery industry in India. Recent Insider Transactions • Sep 26
Insider recently bought ₹3.5m worth of stock On the 22nd of September, Rajani Seshadri bought around 7k shares on-market at roughly ₹541 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Announcement • Sep 21
Grindwell Norton Limited(BSE:506076) dropped from S&P Global BMI Index Grindwell Norton Limited(BSE:506076) dropped from S&P Global BMI Index