Grauer & Weil (India) Ltd.

•

growel.comBSE: 505710NSE: GRAUWEIL

Market Cap₹ 3,176 Cr.

Current Price

High / Low₹ 87 / 62

Stock P/E19.2

Book Value₹ 25

Price to Book3.97

Dividend Yield0.71 %

ROCE24.1 %

ROE18.1 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Surface Finishings: 87.6% • Engineering: 9.4% • Shoppertainment: 3.0%

AI Sector View

AI GENERATED

Chemicals

Hold

The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.

Confidence

55%

View full sector analysis →

PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 24.6%
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.01x)
Company comfortably covers its interest (61.4x coverage)
Company generates healthy free cash flow
Company has a consistent dividend-paying track record

CONS

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ChemicalsChemicalsChemicals

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	SOLARINDS	20550.00	93.38	185957.06	0.05	666.37	88.98	3668.20	70.26	38.16	27.91
2.	PIDILITIND	1636.40	62.88	166565.83	1.31	8835.10	1202.86	45515.50	1112.74	32.38	26.28
3.	SRF	2597.00	35.61	76981.53	0.35	758.87	75.53	5033.26	34.63	14.21	24.57
4.	FLUOROCHEM	4731.25	84.51	51972.78	0.06	219.00	19.02	1588.00	23.97	9.58	26.83
5.	NAVINFLUOR	8538.25	55.47	43808.15	0.18	243.31	107.67	1045.08	44.07	21.39	34.17
6.	GODREJIND	1138.55	32.62	38352.18	0.00	523.36	-27.85	5448.09	22.16	10.64	12.82
7.	DEEPAKNTR	1733.65	30.19	23645.78	0.43	345.01	207.36	2577.60	36.39	11.58	20.96
8.	AETHER	1646.05	92.89	21847.67	0.00	62.75	33.45	326.56	27.49	11.65	31.47
9.	ATUL	6484.40	24.00	19091.21	0.46	253.93	91.85	1847.95	25.03	15.05	21.41
10.	AARTIIND	505.45	34.53	18334.02	0.20	155.00	260.47	2387.00	42.42	6.95	16.00
11.	DEEPAKFERT	1417.10	18.24	17949.40	0.71	490.04	100.95	3256.26	22.47	12.12	25.96
12.	GRAUWEIL	70.05	19.82	3176.15	0.71	39.81	-8.71	298.68	17.93	24.02	16.13

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	198	250	272	334	262	254	273	338	249	287	288	354	295
	150	202	219	295	198	212	221	308	197	244	248	293	252
Operating Profit	48	48	53	39	64	43	52	29	53	44	40	60	50
OPM %	24.17%	19.32%	19.42%	11.62%	24.40%	16.77%	19.06%	8.72%	21.10%	15.25%	13.86%	17.09%	16.97%
Other Income	6	7	9	8	8	14	12	12	13	11	12	13	12
Interest	0	0	0	3	0	0	0	2	1	0	0	1	1
Depreciation	5	5	5	5	5	6	6	6	6	6	6	6	6
	48	50	57	39	67	51	58	34	58	49	45	67	56
Tax %	23.00%	26.67%	27.20%	25.86%	23.99%	25.67%	25.68%	25.09%	25.31%	19.98%	25.76%	23.46%	24.83%
Net Profit	37	37	41	29	51	38	43	26	44	39	34	51	42
	1	1	1	1	1	1	1	1	1	1	1	1	0
Equity Capital	23	23	23	23	45	45	45	45	45	45	45	45	45
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	423	431	492	599	617	605	767	976	1,054	1,128	1,224
	347	344	398	494	520	509	657	824	868	940	1,037
Operating Profit	81	90	105	117	109	116	127	174	219	235	—
OPM %	19	21	21	20	18	19	17	18	21	21	—
Other Income	5	3	11	12	12	20	18	22	33	48	49
Interest	10	3	3	2	3	3	3	2	4	3	3
Depreciation	14	14	15	15	19	18	20	20	21	22	24
	53	74	87	94	95	95	106	151	194	209	216
Tax %	26	25	31	32	21	27	26	26	26	25	24
Net Profit	39	55	61	64	76	70	78	112	144	157	165
EPS	2	2	3	3	3	3	3	5	6	3	—
Dividend Payout %	16	16	22	21	15	16	19	16	8	14	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	1	1	1	1	2	2	2	2	3	3	—

COMPOUNDED SALES GROWTH

10 Years:: 10%
5 Years:: 13%
3 Years:: 14%

COMPOUNDED PROFIT GROWTH

10 Years:: 17%
5 Years:: 16%
3 Years:: 26%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 19%
3 Years:: 2%
1 Year:: 23%

RETURN ON EQUITY

10 Years:: 17%
5 Years:: 17%
3 Years:: 18%
Last Year:: 18%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	23	23	23	23	23	23	23	23	23	45
	229	282	331	379	423	493	561	657	780	891
	26	20	6	20	19	19	19	18	19	6
Trade Payables	38	43	56	60	82	95	108	116	130	141
	82	86	90	100	96	122	115	135	166	195
Total Liabilities	398	453	507	581	643	751	825	949	1,117	1,278
ASSETS	-	-	-	-	-	-	-	-	-	-
	210	212	206	231	241	238	247	239	238	249
Capital Work in Progress	0	0	0	3	1	4	1	3	14	26
	1	3	5	3	3	3	2	24	56	81
	64	68	68	92	108	92	142	125	135	154
	0	0	0	0	0	0	0	0	184	196
Cash & Bank	13	78	119	103	135	254	258	287	421	466
	109	94	109	149	155	161	175	272	69	107
Total Assets	398	453	507	581	643	751	825	949	1,117	1,278
Total Debt	27	20	7	21	19	19	19	19	22	7
Net Working Capital	72	125	187	194	230	313	360	415	566	634
Contingent Liabilities	12	15	15	21	22	27	28	31	40	55
Book Value per Share	11.10	13.44	15.62	17.71	19.66	22.75	25.74	29.96	35.41	20.66
Face Value	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	77	90	71	33	84	117	44	113	159	145
Cash from Investing	-8	-56	-61	-13	-53	-43	-17	-116	-109	-123
Cash from Financing	-62	-10	-25	-2	-36	-3	-15	-18	-20	-41
	7	24	-14	17	-5	71	12	-21	29	-19
Free Cash Flow	70	90	62	-11	58	100	20	100	128	103
OCF / Net Profit	1.96	1.62	1.18	0.51	1.10	1.68	0.56	1.01	1.10	0.92
Cumulative 5-Year FCF	0	0	0	0	269	299	230	267	406	451

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	1.72	2.44	2.67	2.81	3.34	3.07	3.45	4.94	6.35	3.46
Book Value (₹)	11.10	13.44	15.62	17.71	19.66	22.75	25.74	29.96	35.41	20.66
Dividend per Share (₹)	0.28	0.40	0.60	0.60	0.50	0.50	0.65	0.80	0.50	0.50
Cash EPS (₹)	1.17	1.52	1.67	1.75	2.09	1.94	2.16	2.90	3.63	3.95
PROFITABILITY
Operating Margin %	16.01%	17.14%	19.04%	17.97%	16.20%	17.75%	15.25%	16.13%	16.33%	15.03%
Net Margin %	7.69%	10.49%	10.99%	9.77%	11.27%	10.64%	9.37%	10.39%	12.65%	12.61%
ROE %	16.54%	19.86%	18.39%	16.86%	17.90%	14.49%	14.23%	17.72%	19.44%	18.05%
ROCE %	21.96%	25.32%	26.24%	24.39%	22.23%	19.58%	19.25%	23.58%	26.08%	24.08%
	9.63%	12.98%	12.61%	11.71%	12.38%	9.99%	9.93%	12.61%	13.94%	13.11%
EFFICIENCY
Debtor Days	62	54	54	56	61	67	56	53	59	56
Inventory Days	47	46	45	45	54	56	51	45	42	42
Payable Days	68	69	71	66	82	102	86	74	81	85
	42	30	27	35	33	21	22	25	19	13
FINANCIAL HEALTH
Debt to Equity (x)	0.11x	0.07x	0.02x	0.05x	0.04x	0.04x	0.03x	0.03x	0.03x	0.01x
Interest Coverage (x)	6.42x	30.42x	35.33x	59.23x	30.29x	34.40x	33.84x	62.13x	44.32x	61.37x
	1.73x	2.18x	2.81x	2.49x	2.54x	2.69x	2.89x	2.91x	3.19x	3.17x
GROWTH
Revenue Growth %	1.39%	1.87%	14.22%	21.78%	3.02%	-2.02%	26.75%	27.34%	8.01%	6.95%
Operating Profit Growth %	4.62%	11.00%	16.27%	11.71%	-7.04%	6.67%	9.53%	36.45%	26.15%	7.33%
Net Profit Growth %	17.66%	41.45%	9.65%	5.21%	18.96%	-8.13%	12.35%	43.02%	28.74%	9.00%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	28.74%	-45.50%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	13.89x	23.69x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	4.99x	3.97x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.28%	0.61%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	16.44x	13.87x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	69.05	69.04	69.04	69.04	69.04	69.03	69.03	69.03	69.04
	0.91	0.95	0.85	0.86	0.79	0.68	0.59	0.42	0.35
	0.02	0.05	0.09	0.10	0.02	0.03	0.02	0.06	0.05
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	30.04	29.97	30.03	30.02	30.15	30.26	30.35	30.49	30.55

Documents

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