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GRAUER & WEIL (INDIA) LTD (GRAUWEIL)

Process Industries

Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.82 / 100
Profitability 78Growth 68Balance sheet 100
Compare withCOROMANDEL INTERNATIONAL LIMITLINDE INDIA LIMITEDGUJARAT FLUOROCHEMICALS LTD

Passes these screens: Quality Compounder · High Momentum · Debt-light & profitable

Share Price
₹80.28
P/E
22.7x
ROCE
21.0%
Market Cap
₹3639 cr
Revenue (TTM)
₹1236 cr
P/S
2.9x
P/B
3.4x
ROE
14.8%
Operating Margin
16.0%
Debt / Equity
0.0x
Promoter Holding
69.0%
12M Momentum
50.9%
P/E vs its own history59th percentilesince Aug '21
P/E vs Process Industries1.3xthe sector median

52-week range

₹51.50₹88.75
77% of the way from its 52-week low to its high

Price risk

1Y volatility
46.5%
Beta vs sector
1-year daily
0.92

Balance sheet & cash

Interest cover
operating profit ÷ interest
100.0x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.98x

Was the rally earned?

+39%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 41 points, but investors now pay less per rupee of profit (P/E 23.2x to 22.7x), which took 2 points back.
  • The share count barely moved.
3 years Net profit growth: +41 pts. Points of the price return explained by net profit growing (or shrinking).+41 ptsP/E change: -2 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.Share count change: +0 pts. Points of the price return explained by the share count changing. More shares count against the price. +39% 3 years Net profit growth: +41 pts. Points of the price return explained by net profit growing (or shrinking).+41 ptsP/E change: -2 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.Share count change: +0 pts. Points of the price return explained by the share count changing. More shares count against the price. +39%
Net profit growth+41 ptsNet profit rose about 42%, which lifts the price.
P/E change-2 ptsThe P/E fell from 23.2x to 22.7x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+170%share price, 5 yearsEarnings-driven

Mostly yes.

  • Per-share earnings added 144 points to the rise, while the multiple moved less (P/E 19.5x to 22.7x).
  • The share count barely moved.
5 years Net profit growth: +144 pts. Points of the price return explained by net profit growing (or shrinking).+144 ptsP/E change: +26 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+26 ptsShare count change: +0 pts. Points of the price return explained by the share count changing. More shares count against the price. +170% 5 years Net profit growth: +144 pts. Points of the price return explained by net profit growing (or shrinking).+144 ptsP/E change: +26 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.Share count change: +0 pts. Points of the price return explained by the share count changing. More shares count against the price. +170%
Net profit growth+144 ptsNet profit rose about 132%, which lifts the price.
P/E change+26 ptsThe P/E rose from 19.5x to 22.7x, which lifts the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

Not shown for 1 year: earnings were negative at one end, or there is not enough history.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with COROMANDEL INTERNATIONAL LIMIT

Is it expensive against its own past and its peers?

22.7xP/E todayWithin its usual range
Against its own history59th percentileMedian 22.5x; usual range 19.2x to 28.2x since 2021-08.
Against Process Industries22.7x vs 18.0xAbove the Process Industries median.
13.5x20.0x26.4x32.9xAug '21Sep '22Oct '23Nov '24Dec '25Oct '2613.5x20.0x26.4x32.9xAug '21May '23Feb '25Oct '26
P/E (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

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P/B (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

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P/S (this company)10th to 90th percentile of its own historyIts medianProcess Industries median
How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dashed line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).

Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.

All terms explained in the glossary →

How Process Industries is valued

What is the price implying?

~18%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 27.8x, a holder earning 12%/yr needs earnings to grow about 18.2%/yr for 10 years, then trade at 15x.

Delivered14.4%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+3.7 ptsimplied minus delivered
Rank439thmost demanding of 843

Over time

Implied growth by month (solid) and delivered growth (dashed).

0%11%22% Jun 2020Oct 2026 0%11%22% Jun 2020Oct 2026

Change the assumptions

Exit P/E / return11%12%13%
12x19.6%20.7%21.8%
15x17.1%18.2%19.2%
20x13.9%14.9%16.0%
Implied: 18.2%/yr

Looking back

  • Jan 2022Price implied 15%/yr; EPS has since grown 19%/yr (5.0 yrs)

Past comparisons cover only companies listed today (survivorship bias) and say nothing about future outcomes.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect. How this is calculated and the market-wide lists.

What prices imply across Process Industries The market-wide Expectations lists

What changed?

  1. Sep '26Slipped to the 2nd quartile of Process Industries on operating margin (from the top quartile).
  2. Sep '26Volume reached 60.8x its 50-day median on 2026-09-18; price +9.5% that day.
  3. Jun '26Moved into the top quartile of Process Industries on operating margin (from the 2nd quartile).
  4. May '26Volume reached 13.0x its 50-day median on 2026-05-26; price +10.2% that day.
  5. Apr '26Revenue (TTM) reached a new high of ₹1,175 cr.
  6. Aug '23Volume reached 13.5x its 50-day median on 2023-08-17; price +12.5% that day.
  7. Jun '23Revenue (TTM) reached a new high of ₹981 cr.
  8. Jun '23Moved into the top quartile of Process Industries on ROCE (from the 2nd quartile).
Show 13 earlier events
  1. Apr '23Volume reached 14.6x its 50-day median on 2023-04-13; price +9.5% that day.
  2. Mar '23Regained the 2022-11 peak, 3 months after the low.
  3. Mar '23Volume reached 8.2x its 50-day median on 2023-03-06; price +3.8% that day.
  4. Dec '22Fell 25% from the Nov 2022 peak to the Dec 2022 low.
  5. Oct '22Regained the 2022-05 peak, 4 months after the low.
  6. Oct '22Volume reached 14.4x its 50-day median on 2022-10-17; price +8.2% that day.
  7. Sep '22Volume reached 12.8x its 50-day median on 2022-09-13; price +6.2% that day.
  8. Jun '22Fell 31% from the May 2022 peak to the Jun 2022 low.
  9. Apr '22Regained the 2021-10 peak, 2 months after the low.
  10. Apr '22Volume reached 45.9x its 50-day median on 2022-04-29; price +5.4% that day.
  11. Feb '22Fell 26% from the Oct 2021 peak to the Feb 2022 low.
  12. Jan '22Volume reached 13.6x its 50-day median on 2022-01-04; price +6.4% that day.
  13. Oct '21Volume reached 8.8x its 50-day median on 2021-10-06; price +5.3% that day.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Are profits backed by cash?

4 of 5 checks are within range, 1 near a threshold.
Tap a check to see how it is measured.

Other income reliance23%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 22.8%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate26%Within range

Median quarterly effective tax rate over about 2.5 years: 26.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.98xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 0.98x (cash from operations ₹456 cr, net profit ₹467 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow5 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 5. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history—Not enough data

Not enough reported data to compute this.

Capital work in progress13% of fixed assetsWithin range

Capital work-in-progress is 13% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days—Not enough data

Not enough reported data to compute this.

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

How rough has the ride been?

Maximum drawdown-31.3%recovered 2022-10
1-year volatility46.5%annualised
Beta vs sector index1.193-year daily, correlation 0.42
Volume spikes8last 90 sessions, 5x the 50-day median

Monthly share price

₹27₹46₹64₹83 Aug '21Sep '22Oct '23Nov '24Dec '25Oct '26
2021-08: ₹29.30
2021-09: ₹30.50
2021-10: ₹29.70
2021-11: ₹29.70
2021-12: ₹29.20
2022-01: ₹30.20
2022-02: ₹27.20
2022-03: ₹29.30
2022-04: ₹36.35
2022-05: ₹33.90
2022-06: ₹28.35
2022-07: ₹31.20
2022-08: ₹33.95
2022-09: ₹33.60
2022-10: ₹46.05
2022-11: ₹53.35
2022-12: ₹44.00
2023-01: ₹43.85
2023-02: ₹48.70
2023-03: ₹49.25
2023-04: ₹56.20
2023-05: ₹53.20
2023-06: ₹56.00
2023-07: ₹57.75
2023-08: ₹67.80
2023-09: ₹65.60
2023-10: ₹57.80
2026-04: ₹69.55
2026-05: ₹69.68
2026-06: ₹77.67
2026-07: ₹76.56
2026-08: ₹71.63
2026-09: ₹82.77
2026-10: ₹80.28
 ₹27₹46₹64₹83 Aug '21May '23Feb '25Oct '26
2021-08: ₹29.30
2021-09: ₹30.50
2021-10: ₹29.70
2021-11: ₹29.70
2021-12: ₹29.20
2022-01: ₹30.20
2022-02: ₹27.20
2022-03: ₹29.30
2022-04: ₹36.35
2022-05: ₹33.90
2022-06: ₹28.35
2022-07: ₹31.20
2022-08: ₹33.95
2022-09: ₹33.60
2022-10: ₹46.05
2022-11: ₹53.35
2022-12: ₹44.00
2023-01: ₹43.85
2023-02: ₹48.70
2023-03: ₹49.25
2023-04: ₹56.20
2023-05: ₹53.20
2023-06: ₹56.00
2023-07: ₹57.75
2023-08: ₹67.80
2023-09: ₹65.60
2023-10: ₹57.80
2026-04: ₹69.55
2026-05: ₹69.68
2026-06: ₹77.67
2026-07: ₹76.56
2026-08: ₹71.63
2026-09: ₹82.77
2026-10: ₹80.28

Last 90 trading days

₹66₹74₹81₹88 Jun 23Jul 20Aug 13Sep 8Oct 6Oct 30
2026-06-23: ₹73.91
2026-06-25: ₹72.75
2026-06-30: ₹77.67
2026-07-02: ₹82.12
2026-07-06: ₹80.51
2026-07-08: ₹78.00
2026-07-10: ₹81.07
2026-07-14: ₹78.57
2026-07-16: ₹77.82
2026-07-20: ₹75.61
2026-07-22: ₹74.34
2026-07-24: ₹73.97
2026-07-28: ₹73.54
2026-07-30: ₹76.94
2026-08-03: ₹78.76
2026-08-05: ₹68.78
2026-08-07: ₹69.97
2026-08-11: ₹67.67
2026-08-13: ₹66.84
2026-08-17: ₹67.96
2026-08-19: ₹66.59
2026-08-21: ₹70.07
2026-08-25: ₹67.83
2026-08-27: ₹67.75
2026-08-31: ₹71.63
2026-09-02: ₹70.06
2026-09-04: ₹70.59
2026-09-08: ₹72.01
2026-09-10: ₹76.48
2026-09-15: ₹73.08
2026-09-17: ₹79.09
2026-09-21: ₹85.34
2026-09-23: ₹86.18
2026-09-25: ₹88.02
2026-09-29: ₹82.78
2026-10-01: ₹81.80
2026-10-06: ₹82.32
2026-10-08: ₹78.00
2026-10-12: ₹79.09
2026-10-14: ₹81.06
2026-10-16: ₹78.83
2026-10-21: ₹78.57
2026-10-23: ₹78.03
2026-10-27: ₹77.59
2026-10-29: ₹82.12
2026-10-30: ₹80.28
 ₹66₹74₹81₹88 Jun 23Aug 5Sep 17Oct 30
2026-06-23: ₹73.91
2026-06-25: ₹72.75
2026-06-30: ₹77.67
2026-07-02: ₹82.12
2026-07-06: ₹80.51
2026-07-08: ₹78.00
2026-07-10: ₹81.07
2026-07-14: ₹78.57
2026-07-16: ₹77.82
2026-07-20: ₹75.61
2026-07-22: ₹74.34
2026-07-24: ₹73.97
2026-07-28: ₹73.54
2026-07-30: ₹76.94
2026-08-03: ₹78.76
2026-08-05: ₹68.78
2026-08-07: ₹69.97
2026-08-11: ₹67.67
2026-08-13: ₹66.84
2026-08-17: ₹67.96
2026-08-19: ₹66.59
2026-08-21: ₹70.07
2026-08-25: ₹67.83
2026-08-27: ₹67.75
2026-08-31: ₹71.63
2026-09-02: ₹70.06
2026-09-04: ₹70.59
2026-09-08: ₹72.01
2026-09-10: ₹76.48
2026-09-15: ₹73.08
2026-09-17: ₹79.09
2026-09-21: ₹85.34
2026-09-23: ₹86.18
2026-09-25: ₹88.02
2026-09-29: ₹82.78
2026-10-01: ₹81.80
2026-10-06: ₹82.32
2026-10-08: ₹78.00
2026-10-12: ₹79.09
2026-10-14: ₹81.06
2026-10-16: ₹78.83
2026-10-21: ₹78.57
2026-10-23: ₹78.03
2026-10-27: ₹77.59
2026-10-29: ₹82.12
2026-10-30: ₹80.28

Drawdown from peak

0% -15% -30% Aug '21Mar '24Oct '26 0% -15% -30% Aug '21Mar '24Oct '26
Largest drawdowns

-31.3% (2022-05 peak to 2022-06 low, recovered 2022-10)

-25.6% (2021-10 peak to 2022-02 low, recovered 2022-04)

-25.3% (2022-11 peak to 2022-12 low, recovered 2023-03)

Most recent volume spikes

2026-09-23: 5.4x the 50-day median, price +3.5% that day

2026-09-21: 5.4x the 50-day median, price -1.5% that day

2026-09-18: 60.8x the 50-day median, price +9.5% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Where does it rank among Process Industries peers?

Each cell is the company's percentile rank among its Process Industries peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

ROCE
Op. margin
Revenue growth
EPS growth
Debt/equity ↓
Cash cycle ↓
P/E ↓
12M momentum
Nov '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Oct '26
Lower rank Higher rank

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Process Industries sector page Watch it move against Process Industries in the Observatory

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

CompanySectorSimilarityClosest on
FDC (FDC)Health Technology69%promoter holding, revenue growth
JYOTHY LABS (JYOTHYLAB)Consumer Non-Durables66%operating margin, debt/equity
DATAMATICS GLOBAL SERVICES LIM (DATAMATICS)Technology Services65%ROCE, market cap
FEDERAL MOGUL GOETZE INDIA (FMGOETZE)Producer Manufacturing65%revenue growth, ROCE
SAKSOFT (SAKSOFT)Technology Services65%promoter holding, revenue
DHANUKA AGRITECH (DHANUKA)Process Industries64%EPS growth, market cap
INDIGO PAINTS (INDIGOPNTS)Process Industries64%debt/equity, operating margin
VEEDOL CORPORATION (VEEDOL)Process Industries63%operating margin, debt/equity

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

Monthly history (63 months)
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1022.7x₹1236 cr14.8%21.0%0.0x
2026-0923.4x₹1236 cr14.9%21.0%0.0x
2026-0819.8x₹1190 cr15.3%21.0%0.0x
2026-0721.2x₹1190 cr15.3%21.0%0.0x
2026-0621.5x₹1190 cr15.3%21.0%0.0x
2026-0522.6x₹1175 cr15.0%23.0%0.0x
2026-0422.5x₹1175 cr15.0%23.0%0.0x
2026-03—————
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2025-12—————
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2025-07—————
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2024-11—————
2024-10—————
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2023-12—————
2023-11—————
2023-1023.2x₹981 cr16.6%24.0%0.0x
2023-0926.3x₹981 cr16.6%24.0%0.0x
2023-0827.2x₹981 cr16.6%24.0%0.0x
2023-0723.2x₹981 cr16.6%24.0%0.0x
2023-0622.5x₹981 cr16.6%24.0%0.0x
2023-0530.6x₹768 cr13.6%19.0%0.0x
2023-0432.3x₹768 cr13.6%19.0%0.0x
2023-0328.3x₹768 cr13.6%19.0%0.0x
2023-0228.0x₹768 cr13.6%19.0%0.0x
2023-0125.2x₹768 cr13.6%19.0%0.0x
2022-1225.3x₹768 cr13.6%19.0%0.0x
2022-1130.7x₹768 cr13.6%19.0%0.0x
2022-1026.5x₹768 cr13.6%19.0%0.0x
2022-0919.3x₹768 cr13.6%19.0%0.0x
2022-0819.5x₹768 cr13.6%19.0%0.0x
2022-0717.9x₹768 cr13.6%19.0%0.0x
2022-0616.3x₹768 cr13.6%19.0%0.0x
2022-0522.3x₹605 cr13.4%19.0%0.0x
2022-0423.9x₹605 cr13.4%19.0%0.0x
2022-0319.3x₹605 cr13.4%19.0%0.0x
2022-0217.9x₹605 cr13.4%19.0%0.0x
2022-0119.9x₹605 cr13.4%19.0%0.0x
2021-1219.2x₹605 cr13.4%19.0%0.0x
2021-1119.5x₹605 cr13.4%19.0%0.0x
2021-1019.5x₹605 cr13.4%19.0%0.0x
2021-0920.1x₹605 cr13.4%19.0%0.0x
2021-0819.3x₹605 cr13.4%19.0%0.0x

Methodology and data notes

Methodology

Methodology and data notes

All figures come from public exchange prices and screener.in financial statements. Quarterly and annual results are shown from 60 days after the period end, so a month never uses a result before it would plausibly have been published. Statements are the latest versions, which may include later restatements.

Sector medians, percentiles and indices use today's listed companies in the sector (survivorship bias). Prices are adjusted for splits and bonus issues; around a corporate action the fundamentals may lag the price by up to a month, and affected sections are hidden.

The return decomposition uses price = P/E × net profit ÷ share count. The reverse DCF uses a fixed 12% cost of equity, a 10-year horizon and a 15x terminal P/E, and is an illustration only. Events, flags and twins follow fixed rules and thresholds described next to each section.

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