Grindwell Norton Limited
Grindwell Norton Limited manufactures and sells abrasives, ceramics, and plastic products in India and internationally. It operates through Abrasives, Ceramics & Plastics, Digital Services, and Others segments. The company offers abrasives, including bonded and coated abrasives, non-woven abrasives, thin wheels, construction products, automotive aftermarket, adhesives and sealants, performance gr… Read more
Grindwell Norton Limited (GRINDWELL) - Net Assets
Latest net assets as of September 2025: ₹22.96 Billion INR
Based on the latest financial reports, Grindwell Norton Limited (GRINDWELL) has net assets worth ₹22.96 Billion INR as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₹31.42 Billion) and total liabilities (₹8.45 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₹22.96 Billion |
| % of Total Assets | 73.09% |
| Annual Growth Rate | 14.3% |
| 5-Year Change | 64.82% |
| 10-Year Change | 232.04% |
| Growth Volatility | 7.95 |
Grindwell Norton Limited - Net Assets Trend (2005–2025)
This chart illustrates how Grindwell Norton Limited's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Grindwell Norton Limited (2005–2025)
The table below shows the annual net assets of Grindwell Norton Limited from 2005 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | ₹22.70 Billion | +9.81% |
| 2024-03-31 | ₹20.67 Billion | +13.75% |
| 2023-03-31 | ₹18.17 Billion | +15.42% |
| 2022-03-31 | ₹15.74 Billion | +14.32% |
| 2021-03-31 | ₹13.77 Billion | +14.66% |
| 2020-03-31 | ₹12.01 Billion | +8.02% |
| 2019-03-31 | ₹11.12 Billion | +10.86% |
| 2018-03-31 | ₹10.03 Billion | +10.91% |
| 2017-03-31 | ₹9.04 Billion | +32.29% |
| 2016-03-31 | ₹6.84 Billion | +9.46% |
| 2015-03-31 | ₹6.24 Billion | +10.42% |
| 2014-03-31 | ₹5.66 Billion | +8.05% |
| 2013-03-31 | ₹5.23 Billion | +12.07% |
| 2012-03-31 | ₹4.67 Billion | +14.98% |
| 2011-03-31 | ₹4.06 Billion | +12.26% |
| 2010-03-31 | ₹3.62 Billion | +15.48% |
| 2009-03-31 | ₹3.13 Billion | +11.46% |
| 2008-03-31 | ₹2.81 Billion | +41.72% |
| 2007-03-31 | ₹1.98 Billion | +13.61% |
| 2006-03-31 | ₹1.75 Billion | +11.39% |
| 2005-03-31 | ₹1.57 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Grindwell Norton Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 1570781000000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₹15.71 Billion | 69.64% |
| Common Stock | ₹553.60 Million | 2.45% |
| Other Comprehensive Income | ₹6.01 Billion | 26.67% |
| Other Components | ₹279.08 Million | 1.24% |
| Total Equity | ₹22.55 Billion | 100.00% |
Grindwell Norton Limited Competitors by Market Cap
The table below lists competitors of Grindwell Norton Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Beijing Piesat Information Technology Co Ltd
SHG:688066
|
$761.77 Million |
|
Lemon Tree Hotels Limited
NSE:LEMONTREE
|
$761.82 Million |
|
Tibet Rhodiola Pharmaceutical Holding Co
SHG:600211
|
$761.85 Million |
|
Cleanaway Co Ltd
TW:8422
|
$761.90 Million |
|
Hebei Sailhero Environmental
SHE:300137
|
$761.30 Million |
|
Jiangsu Guoxin Corp Ltd
SHE:002608
|
$761.27 Million |
|
Jiangsu Huahong Technology Co Ltd
SHE:002645
|
$761.21 Million |
|
Banque Cantonale du Valais
SW:WKBN
|
$760.95 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Grindwell Norton Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 20,552,747,000 to 22,554,973,000, a change of 2,002,226,000 (9.7%).
- Net income of 3,687,213,000 contributed positively to equity growth.
- Dividend payments of 1,882,240,000 reduced retained earnings.
- Other comprehensive income increased equity by 240,088,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₹3.69 Billion | +16.35% |
| Dividends Paid | ₹1.88 Billion | -8.35% |
| Other Comprehensive Income | ₹240.09 Million | +1.06% |
| Other Changes | ₹-42.84 Million | -0.19% |
| Total Change | ₹- | 9.74% |
Book Value vs Market Value Analysis
This analysis compares Grindwell Norton Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 7.02x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 101.01x to 7.02x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2005-03-31 | ₹14.15 | ₹1429.70 | x |
| 2006-03-31 | ₹15.75 | ₹1429.70 | x |
| 2007-03-31 | ₹17.90 | ₹1429.70 | x |
| 2008-03-31 | ₹25.24 | ₹1429.70 | x |
| 2009-03-31 | ₹27.79 | ₹1429.70 | x |
| 2010-03-31 | ₹32.07 | ₹1429.70 | x |
| 2011-03-31 | ₹36.12 | ₹1429.70 | x |
| 2012-03-31 | ₹41.62 | ₹1429.70 | x |
| 2013-03-31 | ₹46.63 | ₹1429.70 | x |
| 2014-03-31 | ₹50.39 | ₹1429.70 | x |
| 2015-03-31 | ₹55.62 | ₹1429.70 | x |
| 2016-03-31 | ₹60.85 | ₹1429.70 | x |
| 2017-03-31 | ₹80.66 | ₹1429.70 | x |
| 2018-03-31 | ₹89.46 | ₹1429.70 | x |
| 2019-03-31 | ₹99.16 | ₹1429.70 | x |
| 2020-03-31 | ₹107.24 | ₹1429.70 | x |
| 2021-03-31 | ₹123.27 | ₹1429.70 | x |
| 2022-03-31 | ₹141.66 | ₹1429.70 | x |
| 2023-03-31 | ₹162.96 | ₹1429.70 | x |
| 2024-03-31 | ₹185.63 | ₹1429.70 | x |
| 2025-03-31 | ₹203.71 | ₹1429.70 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Grindwell Norton Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 16.35%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 13.11%
- • Asset Turnover: 0.92x
- • Equity Multiplier: 1.36x
- Recent ROE (16.35%) is below the historical average (19.60%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2005 | 18.62% | 10.98% | 0.88x | 1.93x | ₹135.09 Million |
| 2006 | 20.28% | 11.14% | 1.19x | 1.53x | ₹179.47 Million |
| 2007 | 23.21% | 12.34% | 1.18x | 1.60x | ₹261.87 Million |
| 2008 | 47.69% | 30.26% | 1.01x | 1.56x | ₹1.05 Billion |
| 2009 | 17.60% | 10.81% | 1.05x | 1.56x | ₹234.09 Million |
| 2010 | 24.21% | 12.25% | 1.25x | 1.58x | ₹505.08 Million |
| 2011 | 20.89% | 10.71% | 1.25x | 1.57x | ₹435.87 Million |
| 2012 | 22.30% | 11.35% | 1.22x | 1.61x | ₹567.18 Million |
| 2013 | 18.85% | 10.28% | 1.21x | 1.52x | ₹456.91 Million |
| 2014 | 15.04% | 8.69% | 1.16x | 1.49x | ₹281.34 Million |
| 2015 | 16.76% | 9.09% | 1.21x | 1.52x | ₹416.34 Million |
| 2016 | 15.62% | 9.13% | 1.16x | 1.48x | ₹378.54 Million |
| 2017 | 13.37% | 9.44% | 1.05x | 1.35x | ₹300.93 Million |
| 2018 | 15.12% | 10.46% | 1.06x | 1.36x | ₹506.93 Million |
| 2019 | 15.23% | 10.47% | 1.10x | 1.32x | ₹574.53 Million |
| 2020 | 15.37% | 11.56% | 0.99x | 1.34x | ₹637.89 Million |
| 2021 | 17.52% | 14.60% | 0.88x | 1.37x | ₹1.03 Billion |
| 2022 | 18.85% | 14.69% | 0.95x | 1.35x | ₹1.39 Billion |
| 2023 | 20.04% | 14.24% | 1.05x | 1.34x | ₹1.81 Billion |
| 2024 | 18.67% | 14.28% | 0.97x | 1.35x | ₹1.78 Billion |
| 2025 | 16.35% | 13.11% | 0.92x | 1.36x | ₹1.43 Billion |
Industry Comparison
This section compares Grindwell Norton Limited's net assets metrics with peer companies in the Building Products & Equipment industry.
Industry Context
- Industry: Building Products & Equipment
- Average net assets among peers: $2,036,700,073
- Average return on equity (ROE) among peers: 19.97%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Grindwell Norton Limited (GRINDWELL) | ₹22.96 Billion | 18.62% | 0.37x | $761.35 Million |
| Ahlada Engineers Limited (AHLADA) | $194.68 Million | 13.60% | 2.13x | $3.07 Million |
| Apollo Pipes Limited (APOLLOPIPE) | $82.31 Million | 22.41% | 0.08x | $103.29 Million |
| Aro Granite Industries Limited (AROGRANITE) | $1.13 Billion | 7.80% | 0.96x | $1.75 Million |
| Asian Granito India Limited (ASIANTILES) | $719.25 Million | 32.05% | 1.43x | $84.16 Million |
| Astral Limited (ASTRAL) | $23.86 Million | 47.46% | 4.63x | $2.31 Billion |
| Beardsell Limited (BEARDSELL) | $587.67 Million | 14.45% | 1.51x | $3.56 Million |
| Bigbloc Construction Limited (BIGBLOC) | $298.61 Million | 8.23% | 2.56x | $18.90 Million |
| BirlaNu Limited (BIRLANU) | $11.66 Billion | 18.04% | 0.91x | $136.29K |
| Blue Star Limited (BLUESTARCO) | $4.56 Billion | 11.89% | 3.77x | $2.70 Billion |
| Cera Sanitaryware Limited (CERA) | $1.12 Billion | 23.79% | 1.14x | $237.41 Million |