Posted In: Abrasives, Ceramics, Engineering, Metal Ancillary, Plastic, Refractory

GRINDWELL – Grindwell Norton Ltd

Grindwell Norton pioneered the manufacture of grinding wheels in India in 1941. Grindwell Norton is a part of the High Performance Materials division, which is a part of the Innovative Materials Sector of the Saint-Gobain Group.

GNO’s businesses include: Abrasives, Silicon Carbide, High Performance Refractories, Performance Plastics and ADFORS. INDEC (the captive India IT Development Centre for the Saint-Gobain Group globally) is also a part of GNO.

What is abrasive?

An abrasive is a material, often a mineral, that is used to shape or finish a workpiece through rubbing which leads to part of the workpiece being worn away by friction. Some naturally occurring abrasives are Calcite, Emery, Diamond dust, Novaculite, Pumice, Rouge, Sand etc.

What is Refractory?

Refractory is a material that will retain its shape and chemical identity when subjected to high temperatures and is used in applications that require extreme resistance to heat, such as furnace linings. Refractory products are basically used in industries for heat resistant and containment.


Saint-Gobain currently holds 51.66% of the equity capital of GNO.


• Coated Abrasives – These are manufactured by depositing grains over a backing material like cloth, paper or fibre.
• Bonded Abrasives – These are divided into vitrified, resinoid and rubber products and manufactured by mixing grains with bonding material, moulding them to shape and then subjecting the output to firing or baking in high temperature and finishing the same to desired dimensions.
• Thin Wheels and Super Abrasives

High performance refractories
Refractories are used for processing ferrous and non-ferrous metals, as klin furniture to fire ceramic wares, as filtering media, as wear resistance material and also as body and vehicle protection plates. GNO manufactures (mainly) silicon carbide refractories and high alumina monolithics.

Performance plastics
The Performance Plastics business produces and markets more than 800 standard and custom-made polymer products through three business segments : Engineered components, Fluid Systems, Composites. The major product lines in PPL are Bearings, Seals, Tubing & Hoses, Films, Fabrics and Foams. The major markets addressed are Automotive, Oil & Gas, Life Sciences, Construction, Energy and General Industrial.
ADFORS is the world leader in glass fibre technical fabrics for applications in construction and industry. Its products include glass fibre mesh for exterior wall insulation, wall coverings, joint tapes, glass mats for thermal insulation and the production of asphalt concrete overlays, as well as insect screens and paving reinforcement grids.



Abrasives – Mumbai, Bangalore, Nagpur and Himachal Pradesh
High performance refractories – Bengaluru, Halol Gujrat, Tirupati Andhra Pradesh
Performance plastics – Bengaluru

Revenue Segmentation

Revenue – product wise
Abrasives – Rs. 907,09.41 Lakhs
Ceramics and Plasics – Rs. 419,89.72 Lakhs
Revenue – geography wise
India – Rs. 1,21,131.62 Lakhs
Outside India – Rs. 24,246.60 Lakhs


(In Rupees Lakhs) 2013-14 2014-15 2015-16 2016-17 2017-18
Total Income 97,828.19 1,15,308.00 1,20,353.68 1,39,464.99 1,48,072.83
PBT 12,190.22 15,379.30 15,856.42 17,971.54 227,46.70
PAT 8,442.26 10,419.30 10,576.12 12,088.96 15,088.65
EPS 7.58 9.32 9.50 10.78 13.52
Book Value 50.07 55.32 68.93 80.66 89.46
Reserves and Surplus 52670 58480 73549 83766 93516
Total Debts 1641 1491 1517 776 4
Operating Margin (%) 13.54 14.45 14.59 14.38 16.00
ROCE (%) 20.92 23.93 20.11 19.50 22.30
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by , created on January 25th, 2019, last updated on January 26th, 2019

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