CMP: 262

Grindwell Norton Limited manufactures abrasive products, including bonded and coated abrasives. The Company also manufactures silicon carbide and aluminum oxide, as well as industrial ceramics. Grindwell Norton also operates through a joint venture which manufactures a wide range of centralized lubrication systems (CLS).

Grindwell Norton is a decent bet in mid-cap space trading at a P/E of 22 with dividend yields of well over 2% in the last 12 months. It runs at Zero debt with 71 Crores cash in hand, making it a safe bet. Revenues have risen from 502 Crores to 906 Crores in the last 5 years. Profits have risen from 55 Crores to 103 Crores in the last 5 years. Profit margins have improved marginally to over 11% in the last 5 years. Its a safe buy. Buy and hold for long term returns.