Grindwell NortonNSE:GRINDWELL +1.88%99 Altman Z-Score is 18.04 as of Jul. 12, 2026, which is 21% above its 10-year median of 14.92. GuruFocus rates NSE:GRINDWELL with a GF Score™ of 99/100 and a GF Value™ of ₹2,418.22 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 1,754 Construction companies, Grindwell Norton ranks better than 98.06% on this metric.
The Altman Z-Score is a model designed to predict the likelihood of a company going bankrupt within the next two years. Created by American finance professor Edward Altman in 1968, the model is specifically designed for publicly traded manufacturing companies with assets greater than $1 million.
Good Sign:
Altman Z-score of 18.04 is strong.
Grindwell Norton has a Altman Z-Score of 18.04, indicating it is in Safe Zones. This implies the Altman Z-Score is strong.
The zones of discrimination were as such:
When Altman Z-Score <= 1.8, it is in Distress Zones.
When Altman Z-Score >= 3, it is in Safe Zones.
When Altman Z-Score is between 1.8 and 3, it is in Grey Zones.
The historical rank and industry rank for Grindwell Norton's Altman Z-Score or its related term are showing as below:
NSE:GRINDWELL'
s Altman Z-Score Range Over the Past 10 Years
Min: 9.87 Med: 14.92 Max: 24.86
Current: 18.04
During the past 13 years, Grindwell Norton's highest Altman Z-Score was 24.86. The lowest was 9.87. And the median was 14.92.
X1: The Working Capital/Total Assets (WC/TA) ratio is a measure of the net liquid assets of the firm relative to the total capitalization. Working capital is defined as the difference between current assets and current liabilities. Ordinarily, a firm experiencing consistent operating losses will have shrinking current assets in relation to total assets. Altman found this one proved to be the most valuable liquidity ratio comparing with the current ratio and the quick ratio. This is however the least significant of the five factors.
X2: Retained Earnings/Total Assets: the RE/TA ratio measures the leverage of a firm. Retained earnings is the account which reports the total amount of reinvested earnings and/or losses of a firm over its entire life. Those firms with high RE, relative to TA, have financed their assets through retention of profits and have not utilized as much debt.
X3, Earnings Before Interest and Taxes/Total Assets (EBIT/TA): This ratio is a measure of the true productivity of the firm's assets, independent of any tax or leverage factors. Since a firm's ultimate existence is based on the earning power of its assets, this ratio appears to be particularly appropriate for studies dealing with corporate failure. This ratio continually outperforms other profitability measures, including cash flow.
X4, Market Value of Equity/Book Value of Total Liabilities (MVE/TL): The measure shows how much the firm's assets can decline in value (measured by market value of equity plus debt) before the liabilities exceed the assets and the firm becomes insolvent.
X5, Revenue/Total Assets (S/TA): The capital-turnover ratio is a standard financial ratio illustrating the sales generating ability of the firm's assets.
Altman Z-Score does not apply to financial companies.
Grindwell Norton Altman Z-Score Related Terms
Grindwell Norton Altman Z-Score Historical Data
* Premium members only.
The historical data trend for Grindwell Norton's Altman Z-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NSE:GRINDWELL vs TT, JCI, CARR: Altman Z-Score Comparison
For the Building Products & Equipment subindustry, Grindwell Norton's Altman Z-Score, along with its competitors' market caps and Altman Z-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Grindwell Norton Altman Z-Score vs Construction Industry
For the Construction industry and Industrials sector, Grindwell Norton's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Grindwell Norton's Altman Z-Score falls into.
Altman Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
Grindwell Norton's Altman Z-Score for today is calculated with this formula:
Z
=
1.2
*
X1
+
1.4
*
X2
+
3.3
*
X3
+
0.6
*
X4
+
1.0
*
X5
=
1.2
*
0.3955
+
1.4
*
0.5232
+
3.3
*
0.1639
+
0.6
*
25.6729
+
1.0
*
0.8902
=
18.04
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency. GuruFocus does not calculate Altman Z-Score when X4 or X5 value is 0.
Grindwell Norton (NSE:GRINDWELL) has a Altman Z-Score of 18.04 as of Jul. 12, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Grindwell Norton and its competitors. This is 21% above median its historical median of 14.92. Over the past decade, Grindwell Norton's Altman Z-Score has ranged from 9.87 to 24.86. According to the industry distribution chart, Grindwell Norton ranks #34 out of 1754 companies in the Construction industry, placing it in the top 1.9%.
Is Grindwell Norton's Altman Z-Score too high?
Grindwell Norton's current Altman Z-Score of 18.04 is 21% above median its 10-year median of 14.92. Over the past 10 years, this metric has ranged from a low of 9.87 to a high of 24.86. The Construction industry median Altman Z-Score is 2.33. Grindwell Norton's value of 18.04 is 674.2% above this industry median. Based on the distribution chart, Grindwell Norton ranks #34 out of 1754 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, Grindwell Norton has a GF Score™ of 99/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Grindwell Norton's Altman Z-Score compare to TT and JCI?
According to the Construction industry distribution chart, Grindwell Norton ranks #34 out of 1754 companies for Altman Z-Score. This places Grindwell Norton in the top 2% of its industry — outperforming the majority of peers. The industry median Altman Z-Score is 2.33. Grindwell Norton's value of 18.04 is 674.2% above this benchmark. Historically, Grindwell Norton's own Altman Z-Score has ranged from 9.87 to 24.86 over the past decade. While the company's 10-year median is 14.92 vs. the industry median of 2.33, Grindwell Norton has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Altman Z-Score for a Construction company?
The median Altman Z-Score among Construction companies is 2.33, based on 1,754 companies in the industry. Companies in the top quartile (top 25%) have a Altman Z-Score significantly above this median, while those in the bottom quartile fall well below. However, Altman Z-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Grindwell Norton's current Altman Z-Score of 18.04 is 674.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Altman Z-Score mean?
A high Altman Z-Score can signal that a stock is expensive relative to its fundamentals. The Altman Z-score measures a company's bankruptcy risk. View historical data on Grindwell Norton and its competitors. For the Construction industry, the median Altman Z-Score is 2.33 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Grindwell Norton's current Altman Z-Score is 18.04, which is 21% above median its own 10-year median of 14.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Grindwell Norton stock overvalued right now?
Based on GuruFocus' analysis, Grindwell Norton (NSE:GRINDWELL) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹2,418.22, compared to a current price of ₹2,058.60 — trading 14.9% below its estimated fair value. The current Altman Z-Score is 18.04, which is 21% above median its 10-year median of 14.92 and 674.2% above the Construction industry median of 2.33. Grindwell Norton's overall GF Score™ is 99/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Altman Z-Score calculated?
Altman Z-Score is calculated from a company's financial statements. For Grindwell Norton (NSE:GRINDWELL), the current Altman Z-Score is 18.04 as of Jul. 12, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Grindwell Norton (NSE:GRINDWELL) Overvalued in 2026?
Based on GuruFocus' analysis, Grindwell Norton stock appears to be undervalued.
The current stock price of ₹2,058.60 is trading 14.9% below its estimated GF Value™ of ₹2,418.22.
GuruFocus considers Grindwell Norton to be Modestly Undervalued.
Key valuation signals for NSE:GRINDWELL:
Altman Z-Score: 18.04 (21% above median its 10-year median of 14.92)
GF Value™: ₹2,418.22 vs. price of ₹2,058.60 (14.9% below fair value)
Industry Position: 674.2% above the Construction median (#34 of 1754)
No single metric tells the full story. See the NSE:GRINDWELL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Grindwell Norton Ltd is a company that produces abrasives and ceramics products. The company's businesses are divided into segments: Abrasives, Ceramics and Plastics, Digital Services and Others. The company manufactures various types of abrasives, which include bonded, coated, non-woven, construction, thin wheels, and super abrasives. Grindwell's Ceramics and Plastics division produces silicon carbide, high-temperature refractories, and fused cast ceramics. The silicon carbide products serve as raw materials that are used to create abrasives, and the company's refractories are structures used for processing both ferrous and non-ferrous metals. The company generates the vast majority of its revenue from Ceramics and Plastics division.
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