Grauer & Weil (India) Ltd.

•

growel.comBSE: 505710NSE: GRAUWEIL

Market Cap₹ 3,176 Cr.

Current Price

High / Low₹ 87 / 62

Stock P/E19.8

Book Value₹ 25

Price to Book3.96

Dividend Yield0.71 %

ROCE24.0 %

ROE18.0 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Surface Finishings: 87.2% • Engineering: 9.9% • Shoppertainment: 2.9%

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 24.7%
Company has consistently been profitable over the last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.00x)
Company comfortably covers its interest (59.3x coverage)
Company generates healthy free cash flow

CONS

Though reporting repeated profits, the company pays out little dividend (14.4%)

* 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

Consolidated Figures in Rs. Crores / View Standalone

	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
	200	250	285	333	264	255	275	340	253	291	291	355	299
	152	202	230	294	200	212	222	311	201	248	252	296	258
Operating Profit	48	49	55	39	64	43	52	29	53	43	39	59	48
OPM %	23.86%	19.50%	19.15%	11.79%	24.18%	16.76%	19.04%	8.64%	20.76%	14.88%	13.31%	16.63%	16.13%
Other Income	6	7	9	8	8	14	12	12	13	11	12	13	12
Interest	0	0	0	3	0	0	1	2	1	0	0	1	1
Depreciation	5	5	5	5	5	6	6	6	6	6	6	6	6
	48	51	58	39	67	51	58	34	58	48	44	65	54
Tax %	23.35%	26.14%	26.50%	25.59%	23.95%	25.66%	25.62%	25.07%	25.33%	20.13%	26.47%	24.10%	25.70%
Net Profit	0	0	0	0	51	38	43	26	44	39	32	50	40
	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

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	425	432	497	601	619	606	768	982	1,069	1,134	1,236
	347	346	400	496	523	510	659	829	880	947	1,054
Operating Profit	82	89	108	117	109	116	127	175	222	236	—
OPM %	19	21	22	20	18	19	17	18	21	21	—
Other Income	4	4	11	12	13	20	18	22	34	48	49
Interest	10	3	3	2	3	3	3	3	5	4	2
Depreciation	14	14	15	15	19	18	20	20	21	22	25
	56	73	91	94	95	94	107	152	196	210	211
Tax %	24	26	30	32	21	27	26	26	25	25	24
Net Profit	42	54	64	64	76	69	79	113	146	157	160
EPS	2	2	3	3	3	3	3	2	6	3	—
Dividend Payout %	15	17	21	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:: 18%
5 Years:: 17%
3 Years:: 19%
Last Year:: 18%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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
	228	278	331	379	422	491	560	657	783	894
	26	20	6	20	19	19	19	19	20	6
Trade Payables	38	48	56	60	82	95	108	117	131	144
	82	86	90	100	97	122	115	139	168	197
Total Liabilities	397	454	507	581	642	750	824	954	1,124	1,286
ASSETS	-	-	-	-	-	-	-	-	-	-
	210	212	206	231	241	238	247	244	243	254
Capital Work in Progress	0	0	0	3	1	4	1	3	14	27
	1	1	3	1	0	0	1	17	49	71
	64	69	69	93	108	93	143	127	138	156
	0	0	0	0	0	0	0	0	186	199
Cash & Bank	15	78	119	103	135	254	258	287	423	468
	107	94	109	150	156	161	175	276	71	111
Total Assets	397	454	507	581	642	750	824	954	1,124	1,286
Total Debt	27	20	7	21	19	19	19	19	23	8
Net Working Capital	72	122	188	195	231	314	361	416	570	639
Contingent Liabilities	12	15	15	21	22	27	28	33	40	55
Book Value per Share	11.06	13.25	15.59	17.70	19.62	22.67	25.69	29.96	35.52	20.72
Face Value	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	77	87	71	33	84	117	44	114	160	144
Cash from Investing	-8	-54	-61	-13	-53	-43	-17	-116	-109	-120
Cash from Financing	-62	-10	-25	-2	-37	-3	-15	-19	-20	-42
	8	23	-14	17	-5	71	12	-21	31	-19
Free Cash Flow	71	87	62	-11	58	100	20	94	130	101
OCF / Net Profit	1.83	1.61	1.12	0.51	1.11	1.70	0.56	1.00	1.09	0.92
Cumulative 5-Year FCF	0	0	0	0	267	297	229	262	403	445

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	1.86	2.39	2.81	2.82	3.35	3.04	3.47	4.98	6.45	3.47
Book Value (₹)	11.06	13.25	15.59	17.70	19.62	22.67	25.69	29.96	35.52	20.72
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 (₹)	1.24	1.50	1.74	1.75	2.09	1.92	2.17	2.93	3.69	3.96
PROFITABILITY
Operating Margin %	16.06%	16.92%	19.44%	17.95%	16.17%	17.63%	15.20%	16.17%	16.36%	14.96%
Net Margin %	8.26%	10.28%	11.46%	9.76%	11.24%	10.49%	9.42%	10.43%	12.69%	12.56%
ROE %	18.01%	19.67%	19.51%	16.93%	17.93%	14.35%	14.37%	17.91%	19.71%	18.02%
ROCE %	23.22%	25.20%	27.37%	24.45%	22.26%	19.47%	19.39%	23.76%	26.33%	24.02%
	10.44%	12.74%	13.28%	11.74%	12.40%	9.89%	10.01%	12.70%	14.07%	13.05%
EFFICIENCY
Debtor Days	60	53	53	56	61	67	56	53	58	56
Inventory Days	48	46	45	45	54	56	52	46	42	43
Payable Days	69	74	75	66	82	102	86	74	81	86
	39	25	24	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)	6.73x	29.77x	36.55x	59.21x	30.25x	34.03x	33.96x	61.05x	42.14x	59.29x
	1.72x	2.11x	2.81x	2.49x	2.55x	2.70x	2.89x	2.87x	3.17x	3.15x
GROWTH
Revenue Growth %	1.48%	1.55%	15.24%	20.87%	3.05%	-2.19%	26.82%	27.79%	8.87%	6.06%
Operating Profit Growth %	6.85%	8.95%	21.22%	8.53%	-7.09%	5.99%	9.99%	37.62%	26.91%	6.07%
Net Profit Growth %	26.21%	28.69%	17.68%	0.15%	18.74%	-9.27%	14.48%	43.39%	29.50%	7.46%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	29.51%	-46.27%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	13.68x	23.66x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	4.97x	3.96x
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	16.22x	13.83x

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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