Buy Grindwell Norton; target of Rs 2460: ICICI Direct

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

live

• bselive
• nselive

Volume

Todays L/H

More

×

ICICI Direct's research report on Grindwell Norton

Grindwell Norton (GNL) is the market leader in the India abrasive market with ~26% market share. The segments include abrasives (contributing ~57%), ceramics & plastics (33%) and IT services & others (10%). GNL has witnessed strong & positive free cash flows consistently over more than a decade irrespective of the macro environment • It has consistently operated with high (>16%) margins and return ratios.

Outlook

We remain long term positive and maintain our BUY rating on the stock. We value GNL at Rs 2460 i.e. 60x P/E on FY24E EPS.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Grindwell Norton - 04-11-2022 - icici