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31 Jul 2025 |
Grindwell Norton
|
Consensus Share Price Target
|
1567.40 |
1825.00 |
- |
16.43 |
buy
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|
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27 Jul 2025
|
Grindwell Norton
|
Prabhudas Lilladhar
|
1567.40
|
1739.00
|
1643.10
(-4.61%)
|
10.95 |
Hold
|
|
|
Grindwell Norton (GWN) delivered a subdued performance for the quarter, with revenue remaining largely flat YoY at Rs7.0bn and EBITDA margin contracting by 40bps YoY to 18.5%. The Abrasives segment reported negligible growth, while margins weakened furtherlikely impacted by continued Chinese dumping. The Ceramics & Plastics (C&P) segment also posted a decline...
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30 May 2025
|
Grindwell Norton
|
Prabhudas Lilladhar
|
1567.40
|
1739.00
|
1796.60
(-12.76%)
|
Target met |
Hold
|
|
|
to cater to a broader customer base, while the Ceramics & Plastics segment continues to benefit from healthy domestic demand across precision grinding, glass grinding, defence, and industrial applications. Management's focus on application engineering, technical servicing, & innovation will position GWN favorably among competitors. However, persistent Chinese dumping in Abrasives and subdued export demand in the C&P segment remain key nearterm headwinds....
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10 May 2025
|
Grindwell Norton
|
Prabhudas Lilladhar
|
1567.40
|
1716.00
|
1611.70
(-2.75%)
|
Target met |
Accumulate
|
|
|
Abrasives/Digital Services EBIT margin fell by 97/418bps YoY to 13.4%/23.8% in Q4FY25 while Ceramics EBIT margin grew by 104bps YoY to 17.3%. Grindwell Norton (GWN) reported a muted performance for the quarter, with revenue growing modestly by 2.7% YoY and EBITDA margins remaining largely stable at 17.9%. The domestic demand shown resilience across both the Abrasives and Ceramics segments. However, export demand remained subdued, likely due to persistent pressure from Chinese dumping and overall...
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14 Feb 2025
|
Grindwell Norton
|
Prabhudas Lilladhar
|
1567.40
|
1890.00
|
1604.00
(-2.28%)
|
20.58 |
Accumulate
|
|
|
We revise our FY26/27E EPS estimates by -13.6%/-14.8% factoring in possibility of intense Chinese dumping impacting revenue, and slower exports. We downgrade the rating to Accumulate' from Buy', with a revised TP of Rs1,890 (Rs Rs2,511 earlier). Grindwell Norton (GWN) reported a muted quarter with revenue growing by 6.5% YoY and EBITDA margin declining by 180bps to 17.6%. During 9MFY25, Abrasives segment revenue grew by 5.1% YoY to Rs10.4bn while EBIT margin dipped to 12.8% (vs 13.8% in 9MFY25). Growth in abrasives will be driven by demand for high-productivity solutions in steel and...
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14 Feb 2025
|
Grindwell Norton
|
Prabhudas Lilladhar
|
1567.40
|
1890.00
|
1604.00
(-2.28%)
|
20.58 |
Accumulate
|
|
|
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|
31 Oct 2024
|
Grindwell Norton
|
Prabhudas Lilladhar
|
1567.40
|
2528.00
|
2213.55
(-29.19%)
|
61.29 |
Buy
|
|
|
|
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18 Jul 2024
|
Grindwell Norton
|
Prabhudas Lilladhar
|
1567.40
|
2749.00
|
2649.85
(-40.85%)
|
Target met |
Accumulate
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|
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03 Jun 2024
|
Grindwell Norton
|
Prabhudas Lilladhar
|
1567.40
|
2749.00
|
2576.05
(-39.15%)
|
Target met |
Accumulate
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|
|
|
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07 May 2024
|
Grindwell Norton
|
Prabhudas Lilladhar
|
1567.40
|
2512.00
|
2168.75
(-27.73%)
|
Target met |
Accumulate
|
|
|
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05 Feb 2024
|
Grindwell Norton
|
Prabhudas Lilladhar
|
1567.40
|
2512.00
|
2249.25
(-30.31%)
|
Target met |
Accumulate
|
|
|
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16 Aug 2023
|
Grindwell Norton
|
ICICI Securities Limited
|
1567.40
|
2330.00
|
2222.50
(-29.48%)
|
Target met |
Hold
|
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|
Grindwell Norton (GWN) Q1FY24 reported a subdued set of numbers with consolidated revenue/EBITDA/PAT growing 4.8%/4.9%/4% YoY respectively. Revenue growth was led mainly by ceramics & plastics and IT businesses of the company. Abrasives revenue was flat YoY (CUMI Abrasives grew 5% YoY in Q1FY24), impacted by increased Chinese dumping and weak export demand, which are key monitorables for the near team.
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15 May 2023
|
Grindwell Norton
|
ICICI Direct
|
1567.40
|
2475.00
|
1976.65
(-20.70%)
|
Target met |
Buy
|
|
|
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15 May 2023
|
Grindwell Norton
|
ICICI Securities Limited
|
1567.40
|
2215.00
|
1990.15
(-21.24%)
|
Target met |
Accumulate
|
|
|
Grindwell Norton (GWN) delivered a steady set of numbers in Q4FY23 driven by revival in industrial demand and the company’s recent acquisition, PRS Permacel. Consolidated quarterly revenues grew 19% YoY to Rs6.6bn (I-Sec: Rs6.7bn) led by 27% YoY growth in ceramics & plastics, 6% in abrasives and 47% in digital services.
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15 Feb 2023
|
Grindwell Norton
|
ICICI Direct
|
1567.40
|
2340.00
|
1966.50
(-20.29%)
|
Target met |
Buy
|
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14 Feb 2023
|
Grindwell Norton
|
ICICI Securities Limited
|
1567.40
|
2215.00
|
1992.60
(-21.34%)
|
Target met |
Accumulate
|
|
|
Grindwell Norton (GWN) delivered a healthy performance in Q3FY23 benefiting from revival in industrial demand and its recent acquisition, PRS Permacel. Consolidated revenues grew 20.3% YoY to Rs6bn in Q3FY23 – led by 39% YoY growth in ceramics & plastics (lower base), and 9% in abrasives.
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03 Nov 2022
|
Grindwell Norton
|
ICICI Securities Limited
|
1567.40
|
2207.00
|
2106.45
(-25.59%)
|
Target met |
Hold
|
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Grindwell Norton (GWN) has delivered a healthy performance, benefiting from revival in industrial demand.
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03 Nov 2022
|
Grindwell Norton
|
ICICI Direct
|
1567.40
|
2460.00
|
2106.45
(-25.59%)
|
Target met |
Buy
|
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|
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31 Jul 2022
|
Grindwell Norton
|
ICICI Direct
|
1567.40
|
2110.00
|
1890.35
(-17.08%)
|
Target met |
Buy
|
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09 May 2022
|
Grindwell Norton
|
ICICI Direct
|
1567.40
|
1908.00
|
1747.80
(-10.32%)
|
Target met |
Buy
|
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09 May 2022
|
Grindwell Norton
|
ICICI Direct
|
1567.40
|
1908.00
|
1747.80
(-10.32%)
|
Target met |
Buy
|
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