Grindwell Norton, a Saint-Gobain group company spanning Abrasives, Ceramics & Plastics and Digital Services, reports its Q2 FY 2026-2027 numbers into a demand backdrop where auto and steel consumption ran strong through the July-September quarter. The print will speak to whether the Q1 sequential dip in revenue and profit reverses, and how far crude-linked input costs press on the EBIT margin line.
| Results date | October 29, 2026 |
|---|---|
| Quarter | Q2 FY 2026-2027 |
| Previous quarter revenue | Rs. 793.86 Cr (standalone, Q1 FY27) |
| Previous quarter PAT | Rs. 115.53 Cr (standalone, Q1 FY27) |
| Market cap | Rs. 20,448.88 Cr |
| CMP | Rs. 1,846.9 |
A Board Meeting is scheduled for Thursday, October 29, 2026, to consider and approve the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026.
At the 76th AGM held on July 24, 2026, shareholders passed the resolution declaring a dividend on equity shares for FY ended March 31, 2026; the per-share amount was not disclosed in the retrieved announcements summary. The upcoming results filings may carry the amount.
The quarter's swing factor is whether Q2 reverses Q1 FY27's sequential declines of (4.26)% in standalone revenue and (2.99)% in net profit, with the Board approving quarter and half-year ended September 30, 2026 results together on October 29, 2026. Demand signals through the quarter were strong in Grindwell's key end-markets: SIAM's Q2 FY27 print showed 1.36 Mn PV units sold, up 30.7% YoY, India crude steel output rose 4.6% YoY to 14.8 Mt in August, and organic and inorganic chemical exports accelerated to +24.21% YoY in September. The counter-signal is domestic chemicals production, with the IIP chemicals sub-index down 2.7% YoY in July and marginally negative in August, so demand was likely uneven across the industrial customer set. On costs, PVC resin rose from Rs. 78/kg in early July to Rs. 94/kg on September 1 and the rupee traded above 96 through mid-September, though a roughly 174-day inventory cover entering the quarter buffers the input inflation, and Q1 EBIT margin had expanded 116 bps YoY to 19.36%. The call is also the venue to watch for quantified targets under the 'LEAD & GROW 2030' framework presented on May 29, 2026, and for a PCR Halol Phase 2 commissioning update, with five-year capex of about Rs. 794 crores equal to 6% of revenue.
Sequential momentum reversal: Q1 FY27 saw declines on a quarter-on-quarter basis.
Ceramics & Plastics vs Abrasives segment mix: The profit mix shifted decisively in Q1 FY27.
Margin bridge and input costs: Crude-linked feedstock inflation is the flagged headwind.
PCR Halol Phase 2 and capex cadence: Capex is the only guided trajectory that can be checked on the call.
LEAD & GROW 2030 quantification and dividend: The strategic framework came without quantified targets so far.
Standalone revenue was Rs. 793.86 Cr, up 14.41% YoY, and standalone net profit was Rs. 115.53 Cr, up 22.39% YoY. However, revenue fell (4.26)% and net profit fell (2.99)% QoQ versus the March 2026 quarter.
'LEAD & GROW 2030' is the company's long-term strategic framework presented at the Analyst's Meet on May 29, 2026, covering key financial indicators, new products and innovation, and investment. Under it, the company has outlined five-year capex of about Rs. 794 crores, equal to 6% of revenue over the period.
Yes, shareholders approved the declaration of a dividend on equity shares for FY ended March 31, 2026 at the 76th AGM held on July 24, 2026. The per-share amount was not disclosed in the retrieved announcements summary.