Grindwell Norton Share Price

Grindwell Norton

CMP as on 23-Oct-20 15:48

₹ 566.50
23.30 4.29%

Open

₹ 540.40

Turnover (lac)

₹ 186

Prev. Close

₹ 543.20

Day's Vol (shares)

₹ 32,826

Day's Range (₹)

₹ 540.40
₹ 571.00

CMP as on23-Oct-20 15:29

₹ 570.00
28.3 5.22%

Open

₹ 551.60

Turnover (lac)

₹ 9

Prev. Close

₹ 541.70

Day's Vol (shares)

₹ 2,714

Day's Range

₹ 548.00
₹ 570.00

Grindwell Norton Limited (GNL) is a subsidiary of Compagnie de Saint-Gobain (Saint-Gobain), a transnational group with its headquarters in Paris and with sales of Euro 41.8 billion in 2019. Saint-Gobain has reorganized its businesses into two broad areas: Construction or Building related businesses that serve Regional markets and businesses that serve Global markets. The businesses that serve Global markets fall within the High Performance Solutions sector of Saint-Gobain. GNOs businesses are part of the High Performance Solutions sector. Within GNO, the businesses are divided into two major segments: Abrasives and Ceramics & Plastics. The main businesses in GNL segment are Silicon Carbide, High Performance Refractories and Performance Plastics. The Abrasives business has four manufacturing sites: Mora (near Mumbai), Bengaluru, Nagpur and Bated (Himachal Pradesh). All the sites are certified under ISO 9001, ISO 14001 and OHSAS 18001. Saint-Gobain is a major player worldwide in Abrasives. Besides, GNO has a contract manufacturing facility.Silicon Carbide (SiC) is manufactured at GNLs plant located at Tirupati in Andhra Pradesh. SiC is also manufactured by the companys subsidiary, Saint-Gobain Ceramic Materials Bhutan Private Limited, at its plant near Phuentsholing in Bhutan. Both the plants are certified under ISO 9001, ISO 14001 and OHSAS 18001.High Performance Refractories (HPR) has two plants: one is located at Bengaluru and other at Halol, near Vadodara, in Gujarat. Both the plants are certified under ISO 9001, ISO 14001 and OHSAS 18001.The Performance Plastics business produces and markets more than 800 standard and custom-made polymer products through three business segments: Engineered Components (ENC), Fluid Systems (FLS) and Composites (CMP). GNL has a plant for ENC and FLS products situated at Bengaluru. This plant is certified under ISO 9001, ISO 14001, OHSAS 18001 and TS 1694.Originally registered as a private limited company in the early forties, GNL was later converted into a public limited company in 1950. Grindwell Norton is the pioneer in the manufacture of industrial abrasives, by setting up the first grinding-wheel factory. The company has commissioned its first silicon carbide plant in 1972 and the second one in 1979. In the early 1970s, it started manufacturing coated discs (sander discs). The zircona aluminium oxide discs are sold under the Zircon brand. In 1983, a jumbo coated-abrasive plant was commissioned. To indigenise production, a unit for centralised lubricating systems was set up in 1989-90 with technical assistance from Lincoln, Germany. The company commissioned a small super abrasive resin bond wheel plant at Bangalore in Jan.95. For its forays into industrial and engineered ceramics, it has technical collaborations with the Saint-Gobain group, France and SEPR. The fused cast refractory was set up in Mar.95. A new plant for manufacturing non-woven abrasives was inaugurated in Mar.96 at Bangalore. The expansion of the high performance refractories plant was also completed 1998-99.The installed capacity of Abrasive Grains & refractories have been reduced due to the restructuring of Ceramics Business and discontinuation of manufacturing operations of Fused Cast Refractories. The company has sold its Fused Cast Refractories business to M/s SEPR Refractories India Ltd for a consideration of Rs.68.83 Million during the year 2002.The year 2003 was pretty good for the company in respect of refractories business. The volumes and profit were above the projections. This business was certified under ISO 9001:2000, during the year 2003. During the financial year ended 31 March 2014, Grindwell Nortons Abrasives business took the lead in increasing prices, but, in a very competitive market, where suppliers seemed more concerned with maintaining volumes than margins, the improvement in price realization fell significantly short of what was required to offset the cost increases. Under the circumstances, the companys management did well to limit the drop in volumes and margins. During the year, the new Non-woven plant in Bangalore was fully commissioned and the Bonded Abrasives expansion project at Nagpur, which was slowed down last year, was also completed and commissioned.The companys new High Performance Refractories plant in Halol (Gujarat) stabilized during the year.Production in the grain plant of Grindwell Nortons subsidiary in Bhutan, which was commissioned in 2013, stabilized and the subsidiary started selling Silicon Carbide grains directly to its customers.During the year under review, Grindwell Norton invested Rs.4.31 crore in the equity capital of Saint-Gobain Research India Limited (SGRI).The Scheme of Amalgamation involving the merger of SEPR Refractories India Ltd., Saint-Gobain Crystals & Detectors India Ltd. and Saint-Gobain Sekurit India Ltd. which was approved by the Board of Directors on 19 April 2013, was approved by the shareholders in the Court Convened Meeting held on 27 November 2013, with the requisite majority. However as per SEBI Circular dated 4 February 2013, read with Circular dated 21 May 2013, the requisite majority of public shareholders (other than Promoter and Promoter group) did not approve the Scheme. Consequently, the Scheme of Amalgamation was not acted uponDuring the financial year ended 31 March 2015, Grindwell Nortons Abrasives business focused on new products and new markets to reverse the drop in volumes in the past two years. The workers union of Grindwell Nortons Bengaluru plant went on strike for a period of 20 days in November 2015 due to an impasse in the wage negotiations. The management had taken all steps to meet customer requirements during the strike period and there was no major impact on the financial performance of the company due to the strike.Consequent to the approval of the shareholders through postal ballot and e-voting on July 7, 2016, Grindwell Norton issued 5,53,60,000 bonus shares in the ratio of 1:1. The bonus shares were allotted on July 22, 2016.Production of Silicon Carbide at the companys Tirupati plant continued to be affected during the financial year ended 31 March 2017 due to reduced power supply from Andhra Pradesh Gas Power Corporation Limited for much of the year. During the year ended 31 March 2018, the companys Abrasives business unit continued to focus on new products and new markets. The Next Level initiative continued to engage the employees at all levels and there was progress on several dimensions.In Silicon Carbide business, Grindwell Nortons Tirupati plant benefited from improved availability of power in the first half of the year.

  • Company Secretary

    K Visweswaran
  • Chairman & Independent Directo

    Keki M Elavia
  • Director

    Laurent Guillot
  • Director

    Sreedhar Natarajan
  • Independent Director

    Archana Niranjan Hingorani
  • Independent Director

    SUBODH SATCHITANAND NADKARNI
  • Director

    Laurent Tellier
  • Managing Director

    B Santhanam
  • Director

    Isabelle Delphine Hoepfner
  • Alternate Director

    Krishna Kumar Prasad
  • Additional Director

    A Y Mahajan

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