List of Abrasives Company in India | Detailed View

Here is the Top Abrasives Company in India based on Market capitalization in 2020

  • Grindwell Norton Ltd
  • Carborundum Universal Ltd
  • Wendt India Ltd

Top Abrasives Company in India

#1. Grindwell Norton Ltd

Grindwell Norton Ltd is the largest abrasives company in India with a market cap of 5,322 Cr. in 2020.

IndustryAbrasive
Founded1941
ChairmanKeki M Elavia
MDAnand Mahajan

Grindwell Norton Ltd (“GNO”) is one of the subsidiaries of the Saint-Gobain Group in India.

BUSINESS SEGMENTS

GNO’s businesses include:

  • Abrasives
  • Silicon Carbide
  • Performance Ceramics & Refractories
  • Performance Plastics and ADFORS.
  • Other Businesses

1. ABRASIVES BUSINESS

GNO pioneered the manufacturing of Grinding Wheels in India.

Today, the Abrasives Business is a market leader with a pan-India presence

The company markets and manufactures a full range of Bonded Abrasives, Coated Abrasives (including Non-woven Abrasives), Thin Wheels and Superabrasives at its plants near Mumbai, Bangalore, Nagpur and Himachal Pradesh.

The Business prides itself in serving all sectors of the market from Industrial Sectors encompassing Aerospace, Steel, Bearing, Foundry, Wood Working, General Engineering etc., Automotive, Retail i.e. Painting & Decorative markets and Automotive Aftermarket.

MAIN BRANDS

Grindwell Norton Ltd largest abrasives company in india main brand

2. CERAMIC AND PLASTIC BUSINESS

Silicon carbide Business

The Silicon Carbide business manufactures Silicon Carbide crude and grains at Tirupati (Andhra Pradesh) and near Phuentsholing (Bhutan) and is a major supplier to all leading Refractory, Metallurgy and Abrasives manufacturers in India.

Performance Ceramics & Refractories Business

The Performance Ceramics & Refractories (PCR) business offers complete solutions with expertise in design, engineering, and manufacturing refractory systems for high temperature, ballistic, and wear applications. The HPR plants are located in Bangalore and Halol (Gujarat).

ADFORS

ADFORS is the world leader in geotextiles or glass fiber technical fabrics for applications in construction and industrial markets.

It offers solutions based on a complete range of textile and coating technologies using fiberglass yarns, synthetic fibers, and natural fibers.

Its products include glass fiber mesh for exterior wall insulation, wall coverings, joint tapes, glass mats for thermal insulation, insect screens, road reinforcement grids.

The geotex business has a manufacturing facility in Bangalore and produces a range of reinforcement products for roads, runways, coal mines, and quarries for the domestic and APAC market.

Performance Plastics business

The Performance Plastics business creates products with high-performance properties (temperatures, chemicals, friction, optical, and weather/wear resistance) used to produce energy and reduce consumption, provide protection, improve comfort and sustain the environment.

It produces and markets products through three businesses: Engineered Components, Composites, and Fluid Systems.

The Performance Plastics business has a manufacturing facility in Bangalore.

3. OTHER BUSINESS

  • CertainTeed is a business unit which offers world-class exterior building products
  • INDEC the IT Development Centre of the Saint-Gobain Group is an entity with a vision to leverage India’s technical skills in the Information Technology domain to provide timely, high-quality, and cost-effective IT solutions to Saint-Gobain businesses globally.

REVENUE BREAK-UP(%)

Grindwell Norton Ltd Rvenue break up business segment wise
C&P – Ceramic & Plastic Business

DOMESTIC & EXPORT SALES OF PRODUCTS(%)

Grindwell Norton Ltd Rvenue break up geography wise

CURRENT YEAR FINANCIAL DATA

  • Market Cap:  5,322 Cr.
  • Current Price:  480.70
  • 52 weeks High / Low  699.00 / 369.20
  • Book Value:  106.27
  • Stock P/E: 31.04
  • Dividend Yield: 1.56 %
  • ROCE: 20.13 %
  • ROE: 15.15 %
  • Sales Growth (3Yrs): 7.88 %

BONUS SHARE ISSUE HISTORY

Bonus History (Grindwell Norton)

DateBonus Ratio
30-05-20161:1
06-03-20061:1
07-08-19961:1

FINANCIAL PERFORMANCE IN LAST 10 YEARS

Year20102020CAGR 
Growth(%)
Sales7021,5528.26%
Profit881837.60%
Share Price75.17480.7020.39%

#2. Carborundum Universal Ltd

Carborundum Universal Ltd is the second largest abrasives company in India with a market cap of 4,699 Cr. in 2020

IndustryAbrasive
Founded1954
ChairmanM M Murugappan
MDN Ananthaseshan

Carborundum Universal Ltd, a part of the Rs. 36,900 crore Chennai-based Murugappa group.

BUSINESS SEGMENTS

  • Abrasives
  • Ceramics
  • Electrominerals

Abrasives

It manufactures and distributes rigid and flexible abrasives and adjacent products that are used in the generation of precision, functional or enduring surfaces.

The key product segments are Bonded Abrasives, Coated Abrasives, Metal
Working Fluid, Super Abrasives and allied products.

The Business has ten manufacturing plants located across India, Russia and Thailand.

The marketing entities in North America, Middle East, China and distributors across the globe provide strong market reach in India and over 55 markets globally.

Ceramics

The Ceramics business comprises of the Industrial Ceramics and the Refractories product groups.

  • Industrial Ceramics :Industrial Ceramics Business offers Alumina, Zirconia and Silicon Carbide products of technical ceramic grades addressing wear and corrosion protection, electrical insulation, thermal protection and ballistic protection applications.
  • Refractories : The Company is a leading player in complex shaped high temperature application Refractories, Cements and Monolithic and pre-cast pre-fired Castables.
  • Anti-corrosives : The Company is a major player in this industry.The Company’s product range include Acid resistant wall bricks, Carbon bricks, Tiles, Lining, PU Flooring, Screeding, PU and Epoxy Coatings, Piping, Sealants and Water proof construction chemicals
  • Composites : The product range includes large Chemical storage tanks, Chimneys, Flue Gas Desulphurisation (FGD) spray headers, Abrasion resistant Anti-corrosive pipes & Gratings, windmill nacelle covers, Automotive and Railway body panels, Gratings, Pallets, Cable trays, Flooring, Chequered plates, Roof sheets, Chimney, ladders, Platforms, Bridges, Louvers, Fencing etc

Electrominerals

The Mineral Business of the Company spans India, Russia and South Africa with eight manufacturing facilities covering product groups – Fused Alumina (comprising Brown and White Alumina), Silicon Carbide (crude, macro and fine), Fused Zirconia and Composites of Alumina Zirconia and Silicon carbide.

The Company also manufactures a range of ‘specialties’ like Semi Friable Alumina, Surface and thermally treated grains, Azure S, Specialty Alumina and Ceramic fine powders for niche markets.

REVENUE BREAK-UP(%)

Carborundum Universal Ltd-abrasives company in india revenue break up(%0

REVENUE BREAK UP GEOGAPHY WISE(%)

Carborundum Universal Ltd revenue break up geography wise

CURRENT YEAR FINANCIAL DATA

  • Market Cap:  4,699 Cr.
  • Current Price:  248.10
  • 52 weeks High / Low  362.00 / 175.00
  • Book Value:  98.11
  • Stock P/E: 19.63
  • Dividend Yield: 1.11 %
  • ROCE: 18.85 %
  • ROE: 15.00 %
  • Sales Growth (3Yrs): 7.15 %

BONUS SHARE ISSUE HISTORY

Bonus History (Carborundum Universal)

DateBonus Ratio
27-04-20051:1
07-10-19902:5
07-10-19872:5
04-10-19832:5

FINANCIAL PERFORMANCE IN LAST 10 YEARS

Year20102020CAGR 
Growth(%)
Sales1,2672,5997.47%
Profit10227210.31%
Share Price90.95248.1010.56%

#3. Wendt India Ltd

Wendt India Ltd is the third largest abrasives company in India with a market cap of  488.54 Cr. in 2020

IndustryAbrasives
Founded1980
ChairmanMr. Shrinivas G Shirgurkar 
CEOMr. Rajesh Khanna

Established in 1980, Wendt (India) Ltd was originally promoted by Mr. S. C. Khatau and Wendt Gmbh of Germany.

The company started its operations by setting-up a super abrasives manufacturing facility at Hosur (Tamil Nadu) to manufacture grinding wheels and tools with technological support from its German parent, Wendt
Gmbh.

BUSINESS SEGMENTS

  • Super Abrasives
  • Machine Tools & Precision components

REVENUE BREAK-UP(%)

Wendt (India) Ltd revenue break up(%)

PRODUCTS

Super Abrasive (Diamond & CBN Wheels)

  • Resin Bond
  • Metal Bond
  • Hybrid Wheels
  • Vitrified Bond
  • Electroplated (Galvanic) Bond
  • Rotary Diamond Dresser
  • Hones
  • Stationary Diamond Dressers, PCD/PCBN Tools & Wear Parts
  • Brazed Products – CHATUR
  • Diamond Segments & Pellets

Machines (Grinding, Dressing & Honing)

  • Grinding Machines
  • Honing Machines

Precision Components

  • Hardened and Ground Flanges

CURRENT YEAR FINANCIAL DATA

  • Market Cap:  488.54 Cr.
  • Current Price:  2,443
  • 52 weeks High / Low  3390.00 / 1590.00
  • Book Value:  688.40
  • Stock P/E: 71.32
  • Dividend Yield: 1.02 %
  • ROCE: 9.59 %
  • ROE: 6.67 %
  • Sales Growth (3Yrs): -0.67 %

BONUS SHARE ISSUE HISTORY

Bonus History (Wendt (India))

DateBonus Ratio
24-07-20031:1
17-10-19961:1

FINANCIAL PERFORMANCE IN LAST 10 YEARS

Year20102020CAGR 
Growth(%)
Sales631438.54%
Profit10100%
Share Price715.05244313.07%

All Financia data taken from www.screener.in

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