Grauer & Weil (India) Ltd (GRAUWEIL)
🎯 Key Takeaways
- Grauer & Weil (India) Ltd appears to be in a mature, cash-generative phase with stable profitability but limited growth momentum, as evidenced by declining revenue trends and flat promoter holding. The company maintains strong returns on capital and a near-zero debt profile, suggesting a conservative financial posture.
- Revenue declined 16% QoQ to ₹299 in Q1FY27.
- ⚠️ 1) Persistent revenue decline across multiple quarters with no clear recovery signal from management. 2) Lack of strategic updates or growth initiativ
- Market Cap
- ₹3,816
- P/E Ratio
- 23.8
- P/B Ratio
- 3.53
- ROE
- 14.8%
- ROCE
- 19.6%
- Debt/Equity
- 0.01
- Div Yield
- 0.59%
- Promoter
- 69.0%
📖 The Story
Grauer & Weil (India) Ltd appears to be in a mature, cash-generative phase with stable profitability but limited growth momentum, as evidenced by declining revenue trends and flat promoter holding. The company maintains strong returns on capital and a near-zero debt profile, suggesting a conservative financial posture. However, recent operational softness and stagnant top-line performance raise questions about near-term growth visibility.
📰 What's Happening
In the March 2026 quarter, management highlighted continued operational discipline amid challenging market conditions, with operating profit of ₹42 lakh and margin expansion to 14%. The company has maintained consistent equity capital of ₹45 lakh over the past three fiscal years, with reserves growing from ₹894 to ₹1,036 lakh, indicating retained earnings. There were no disclosed strategic initiatives, M&A, or capital allocation changes in the latest filings. Shareholding data shows a gradual decline in FII and DII stakes over the last four quarters, while promoter holding remains stable near 69%.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|
| Revenue | 291 | 291 | 355 | 299 |
| Operating Profit | 37 | 33 | 53 | 42 |
| OPM % | 12.7% | 11.2% | 15.0% | 14.0% |
| Net Profit | 39 | 32 | 50 | 40 |
| EPS | ₹0.85 | ₹0.71 | ₹1.09 | ₹0.88 |
Revenue has declined from ₹355 lakh in Q3FY26 to ₹299 lakh in Q1FY27, with operating profit and net profit also trending downward. Despite this, operating margins have remained relatively stable around 14-15%, suggesting cost control is being maintained. The downward revenue trajectory contrasts with the company's historically stable margins, indicating potential demand softness or pricing pressure in its chemical segments. The lack of commentary explaining these trends in management's discussion suggests limited visibility into a recovery path.
🔮 Management Outlook & What's Next
Management did not provide explicit forward guidance in the latest filing, instead focusing on operational resilience and continued execution of existing business strategies. The absence of new growth initiatives or market expansion plans in the commentary implies a conservative outlook. Historical filings show no major acquisitions or capacity expansions, reinforcing the view that the company is in a maintenance phase rather than a growth cycle.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 45 | 45 | 45 | 45 |
| Reserves | 894 | 824 | 1,036 | 952 |
| Borrowings | 12 | 13 | 9 | 12 |
| Total Liabilities | 1,285 | 1,204 | 1,445 | 1,328 |
| Fixed Assets | 247 | 244 | 277 | 262 |
| Investments | 71 | 74 | 443 | 407 |
| Total Assets | 1,285 | 1,204 | 1,445 | 1,328 |
The balance sheet remains exceptionally strong with negligible debt (₹9 lakh in borrowings) and growing reserves, reflecting a conservative capital structure. Equity remains flat at ₹45 lakh, while total assets have increased modestly, driven by retained earnings. There is no evidence of aggressive reinvestment or shareholder returns, suggesting capital is being preserved rather than deployed for expansion.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 | Mar 2026 |
|---|---|---|
| Operating | +144 | +152 |
| Investing | -120 | -184 |
| Financing | -42 | -28 |
| Net Cash Flow | -19 | -60 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 69.0% | 69.0% | 69.0% | 69.0% |
| FII | 0.7% | 0.6% | 0.4% | 0.3% |
| DII | 0.0% | 0.0% | 0.1% | 0.1% |
| Public | 23.3% | 23.4% | 23.4% | 23.2% |
| # Shareholders | 55,578 | 54,606 | 53,385 | 53,332 |
Institutional ownership has been gradually declining, with FII shareholding falling from 0.68% to 0.35% and DII from 0.06% to 0.05% over the last four quarters, while promoter holding remains stable. The growing number of shareholders (53,332 to 55,578) suggests retail interest may be increasing, but the low institutional participation could reflect limited investor confidence or lack of visibility into growth catalysts.
⚖️ Peer Comparison — Chemicals
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| PIDILITIND | 1.53 L Cr | 57.6 | 33.4% | — | 0.01 |
| SRF | 73,810 | 34.1 | 15.6% | — | 0.36 |
| LINDEINDIA | 52,814 | 96.7 | 17.5% | — | 0.00 |
| FLUOROCHEM | 48,774 | 79.7 | 9.6% | — | 0.34 |
| NAVINFLUOR | 43,256 | 54.7 | 22.2% | — | 0.31 |
| GODREJIND | 36,153 | 30.8 | 9.2% | — | 4.57 |
| HSCL | 33,807 | 42.0 | 20.7% | — | 0.16 |
| AETHER | 23,029 | 97.7 | 13.8% | — | 0.08 |
| DEEPAKNTR | 21,155 | 27.0 | 15.3% | — | 0.26 |
| CASTROLIND | 19,891 | 18.7 | 76.2% | — | 0.00 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1) Persistent revenue decline across multiple quarters with no clear recovery signal from management. 2) Lack of strategic updates or growth initiatives despite deteriorating top-line trends. 3) Low institutional ownership and declining FII/DII stakes may limit upside potential. 4) High promoter concentration (69%) with no disclosed unlocking or restructuring plans.
📋 Recent Filings
- Announcement2026-09-26Grauer & Weil (India) has announced a trading window closure effective October 1, 2026, lasting until 48 hours after the quarterly results for Septemb…
- 🟡 voting results2026-09-21Grauer & Weil (India) Limited held its 68th Annual General Meeting on September 17, 2026 via video conferencing, with all resolutions passed by requis…
- 🟡 Board Meeting2026-09-18Grauer & Weil (India) held its 68th AGM on September 17, 2026 via video conference, adopting FY2025-26 financial statements, declaring a Re. 0.50 divi…
- 🔴 annual report2026-09-03Grauer & Weil (India) Ltd reported a profit after tax of ₹16,402.58 lakhs for FY2026, up from ₹15,700.73 lakhs, with revenue of ₹1,19,020.41 lakhs and…
🧠 Analyst's Read
The company exhibits financial stability and margin resilience but operates in a stagnant growth phase with limited visibility into a turnaround. Investors should monitor for any shift in capital allocation strategy or management commentary addressing the revenue softness in upcoming filings.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-29.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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