Shares of abrasives company doubled investors wealth in 2 years

Mumbai – Shares of Grindwell Norton Limited on April 22, 2021 at Rs. 875.95 on February 28, 2023 to Rs. reached 1,803. They have jumped over 105% in the last two years. The company is one of the top companies in the S&P BSE 500 index. The company stock has given multibagger returns to investors over the past two years. An investment of Rs 1 lakh in the company’s shares two years ago turned into Rs 2.05 lakh.

On a consolidated basis, the company’s net revenue for the third quarter of the current financial year increased by 20.03% year-on-year to Rs. 599.87 crores. Bottom line increased by 14.95% to 80.42 crores. The company is currently trading at a TTM PE of 56.65 times as compared to the corresponding industry PE of 55.52 times. The company achieved ROCE and ROE of 20.3% and 27.3% respectively in FY 2021-22. The company is an entity of Group A shares with a market capitalization of Rs 20,131.11 crore.

This article is published by Dalal Street Investment Journal, India’s No. 1 investment magazine. Click here and subscribe to receive regular shares and recommendations from Teji.

The company’s share on Thursday was Rs. Trading started at 1,825.40. Its session high and low were respectively Rs. 1,826.20 and Rs. 1,809.10 remained. The stock’s last 52-week high and low of Rs. 2,325 and Rs. 1,452.80 has been recorded.

Grindwell Norton Limited is in the business of manufacturing abrasives, ceramics and plastics and providing information technology services. In 1990, Saint-Gobain acquired the Norton Company, thereby becoming a shareholder in Grindwell. Grindwell’s businesses include manufacturing of abrasives, ceramic materials business (silicon carbide and performance ceramics and refractories), performance plastics and Adiforce.
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