ICICI Securities Ltd | Retail Equity Research Grindwell Norton's (GNL) reported Q1FY18 results, which were below our estimates. This was mostly on account of weak growth of 2.6% YoY in the abrasives segment (our estimate 10% YoY). The abrasives segment contributed ~64% of topline, while the Ceramics & Plastics segment contributed ~28% to the topline. Revenues came in at | 337.7 crore up 8.5% YoY, marginally below our estimates of | 343.1 crore. Abrasives segment grew 2.6% YoY, |...