3 Abrasives, Engines and CNC Machines Stocks With a Strong Future Roadmap: Grindwell Norton, Kirloskar Oil Engines and Jyoti CNC Automation
- October 21, 2026
- Posted by: Ankit Jaiswal
- Category: Best Stocks
Grindwell Norton, Kirloskar Oil Engines and Jyoti CNC Automation: ROE of 15.9% to 16.8% and FY22 to FY26 revenue CAGR of 11.3% to 30.2%. Prices as of 20 Oct 2026.
Quick Answer
The three engineering products stocks to watch are Grindwell Norton, Kirloskar Oil Engines and Jyoti CNC Automation. Their return on equity ranges from 15.9% to 16.8%, and their revenue compound annual growth from FY22 to FY26 ranges from 11.3% to 30.2%. Jyoti CNC Automation has the highest return on equity at 16.8%, while Jyoti CNC Automation has the fastest revenue growth at 30.2% a year. Prices are based on the 20 October 2026 close, and this article is educational, not investment advice.
Engineering products stocks cover the tools, engines and machines that sit behind almost every manufacturing line. Grindwell Norton, Kirloskar Oil Engines and Jyoti CNC Automation make abrasives and industrial materials, engines and power equipment, and CNC machine tools.
This list covers three engineering products stocks with complete current figures: Grindwell Norton, Kirloskar Oil Engines and Jyoti CNC Automation. Every figure comes from the latest reported financials and the 20 October 2026 market close. Companies without complete current figures were left out.
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What Are Engineering Products Stocks?
Engineering products stocks are listed companies that make precision tools, engines, machines and industrial consumables. Their sales rise with factory output, infrastructure spending and the shift towards automation.
Engineering Products Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Grindwell Norton | 1,826.8 | 20,188 | 46.1 | 44.4 | 16.4 | 0.02 |
| Kirloskar Oil Engines | 1,973.2 | 28,722 | 53.7 | 44.4 | 15.9 | 1.48 |
| Jyoti CNC Automation | 975.8 | 22,175 | 68.9 | 44.4 | 16.8 | 0.43 |
On valuation, all three trade at a P/E above their industry P/E, which reflects the growth the market already expects from them. Readers comparing engineering products stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Engineering Products Stocks Have a Strong Roadmap in India?
Engineering products stocks have a strong roadmap in India because manufacturing is expanding, factories are automating and customers prefer reliable local suppliers.
- Manufacturing growth. Rising factory output increases demand for abrasives, tools and machines.
- Automation. CNC and precision machines replace manual processes in auto, aerospace and defence supply chains.
- Backup power and engines. Engines serve farms, infrastructure and standby power uses.
Why Grindwell Norton Features Among These Engineering Products Stocks
Among the engineering products stocks on this list, Grindwell Norton, a Saint-Gobain group company, makes abrasives, ceramics and plastics products, including grinding wheels, coated abrasives and silicon carbide.
The company has a return on equity of 16.4%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 20,188 crore. The stock trades at a P/E of 46.1, above the industry P/E of 44.4.
Revenue rose from Rs 2,066 crore in FY22 to Rs 3,168 crore in FY26, a compound annual growth rate of 11.3%. Net profit grew from Rs 295 crore in FY22 to Rs 417 crore in FY26, which works out to a compound annual growth rate of 9.0%. In the June 2026 quarter, revenue grew 13.8% year on year to Rs 828 crore, while net profit rose 22.1% to Rs 115 crore.
Roadmap: Demand from automobiles, steel, infrastructure and general manufacturing supports its core abrasives range, while ceramics and plastics offer higher-value niches. The group’s technology support and a debt-free balance sheet allow it to add capacity at its own pace.
What to watch: Keep tabs on industrial activity and input costs for raw materials such as silicon carbide.
Why Kirloskar Oil Engines Features Among These Engineering Products Stocks
Among the engineering products shares on this list, Kirloskar Oil Engines, based in Pune, makes diesel and gas engines, generator sets, pumps and power solutions for industrial, farm and infrastructure use.
Revenue rose from Rs 4,049 crore in FY22 to Rs 7,772 crore in FY26, a compound annual growth rate of 17.7%. Net profit grew from Rs 171 crore in FY22 to Rs 558 crore in FY26, which works out to a compound annual growth rate of 34.4%.
In the June 2026 quarter, revenue grew 12.1% year on year to Rs 2,015 crore. The company has a return on equity of 15.9%, a debt to equity ratio of 1.48 and a market capitalisation of Rs 28,722 crore. The stock trades at a P/E of 53.7, above the industry P/E of 44.4.
Roadmap: Backup power demand from data centres, telecom and infrastructure, a growing exports business and new alternative-fuel engines give it several tracks for growth. A large service network helps it hold on to customers across product cycles.
What to watch: Watch order intake from data centres and the pace of new product launches in cleaner fuels.
Why Jyoti CNC Automation Features Among These Engineering Products Stocks
Among the three companies on this list, Jyoti CNC Automation, based in Rajkot, makes computer numerical control machines, including multi-axis machining centres, for aerospace, defence, auto and general engineering customers.
In the June 2026 quarter, revenue grew 19.0% year on year to Rs 512 crore. Revenue rose from Rs 750 crore in FY22 to Rs 2,154 crore in FY26, a compound annual growth rate of 30.2%.
Net profit grew from Rs 151 crore in FY24 to Rs 336 crore in FY26, which works out to a compound annual growth rate of 49.2%. The company has a return on equity of 16.8%, a debt to equity ratio of 0.43 and a market capitalisation of Rs 22,175 crore. The stock trades at a P/E of 68.9, above the industry P/E of 44.4.
Roadmap: Defence and aerospace manufacturing, along with the shift to precision machining at Indian factories, supports demand for advanced CNC machines. The company has also built a presence in Europe through an acquisition, adding technology and customers abroad.
What to watch: Watch order book trends and how quickly the international business contributes.
Grindwell Norton vs Kirloskar Oil Engines vs Jyoti CNC Automation on Key Financials
The table below sets the three engineering products stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| Grindwell Norton | 2,066 | 3,168 | 11.3% | 417 | 13.2% |
| Kirloskar Oil Engines | 4,049 | 7,772 | 17.7% | 558 | 7.2% |
| Jyoti CNC Automation | 750 | 2,154 | 30.2% | 336 | 15.6% |
Jyoti CNC Automation posts the highest return on equity in this group at 16.8%. Kirloskar Oil Engines has the largest FY26 revenue at Rs 7,772 crore, and Jyoti CNC Automation shows the fastest revenue growth with a 30.2% compound annual rate. A useful habit with engineering products stocks is to check each new quarterly result against the capacity plans the company described earlier.
The June 2026 quarter, the latest reported, gives a fresh read on momentum:
| Company | Q1 FY26 Revenue (Rs Cr) | Q1 FY27 Revenue (Rs Cr) | Year-on-Year Growth |
|---|---|---|---|
| Grindwell Norton | 727 | 828 | 13.8% |
| Kirloskar Oil Engines | 1,796 | 2,015 | 12.1% |
| Jyoti CNC Automation | 431 | 512 | 19.0% |
Key Risks to Check Before Investing in Engineering Products Stocks
Every theme carries risks that deserve a check before any decision. For these engineering products stocks, the main points are: Long-term engineering products shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Industrial cycles. Demand for machines moves with capital spending by customers.
- Raw material costs. Metals and other inputs influence margins.
- Competition. Imported machines and global brands compete in several segments.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter engineering products stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Engineering Products Stocks
Engineering products stocks reward investors who follow manufacturing activity across sectors. Grindwell Norton, Kirloskar Oil Engines and Jyoti CNC Automation each supply a different layer of the factory floor. Based on the 20 October 2026 close, Grindwell Norton trades at Rs 1,826.8, Kirloskar Oil Engines at Rs 1,973.2 and Jyoti CNC Automation at Rs 975.8.
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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
What are engineering products stocks?
Ans. Engineering products stocks are listed companies that make precision tools, engines, machines and industrial consumables. Their sales rise with factory output, infrastructure spending and the shift towards automation. This list looks at three of them, Grindwell Norton, Kirloskar Oil Engines and Jyoti CNC Automation, using reported FY22 to FY26 financials and the 20 October 2026 closing prices.
Which engineering products stocks are covered in this list?
Ans. This list covers Grindwell Norton, Kirloskar Oil Engines and Jyoti CNC Automation. Based on the 20 October 2026 close, Grindwell Norton traded at Rs 1,826.8, Kirloskar Oil Engines at Rs 1,973.2 and Jyoti CNC Automation at Rs 975.8. Their return on equity ranges from 15.9% to 16.8%, and their revenue compound annual growth from FY22 to FY26 ranges from 11.3% to 30.2%.
Why do engineering products stocks have a strong future roadmap in India?
Ans. Engineering products stocks have a strong roadmap in India because manufacturing is expanding, factories are automating and customers prefer reliable local suppliers. The main drivers are as follows. Manufacturing growth. Rising factory output increases demand for abrasives, tools and machines. Automation. CNC and precision machines replace manual processes in auto, aerospace and defence supply chains. Backup power and engines. Engines serve farms, infrastructure and standby power uses. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Grindwell Norton performed financially?
Ans. Revenue rose from Rs 2,066 crore in FY22 to Rs 3,168 crore in FY26, a compound annual growth rate of 11.3%. Net profit grew from Rs 295 crore in FY22 to Rs 417 crore in FY26, which works out to a compound annual growth rate of 9.0%. In the June 2026 quarter, revenue grew 13.8% year on year to Rs 828 crore, while net profit rose 22.1% to Rs 115 crore. The company has a return on equity of 16.4%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 20,188 crore. The stock trades at a P/E of 46.1, above the industry P/E of 44.4. Looking ahead, demand from automobiles, steel, infrastructure and general manufacturing supports its core abrasives range, while ceramics and plastics offer higher-value niches. The group’s technology support and a debt-free balance sheet allow it to add capacity at its own pace.
How has Kirloskar Oil Engines performed financially?
Ans. Revenue rose from Rs 4,049 crore in FY22 to Rs 7,772 crore in FY26, a compound annual growth rate of 17.7%. Net profit grew from Rs 171 crore in FY22 to Rs 558 crore in FY26, which works out to a compound annual growth rate of 34.4%. In the June 2026 quarter, revenue grew 12.1% year on year to Rs 2,015 crore. The company has a return on equity of 15.9%, a debt to equity ratio of 1.48 and a market capitalisation of Rs 28,722 crore. The stock trades at a P/E of 53.7, above the industry P/E of 44.4. Looking ahead, backup power demand from data centres, telecom and infrastructure, a growing exports business and new alternative-fuel engines give it several tracks for growth. A large service network helps it hold on to customers across product cycles.
How has Jyoti CNC Automation performed financially?
Ans. Revenue rose from Rs 750 crore in FY22 to Rs 2,154 crore in FY26, a compound annual growth rate of 30.2%. Net profit grew from Rs 151 crore in FY24 to Rs 336 crore in FY26, which works out to a compound annual growth rate of 49.2%. In the June 2026 quarter, revenue grew 19.0% year on year to Rs 512 crore. The company has a return on equity of 16.8%, a debt to equity ratio of 0.43 and a market capitalisation of Rs 22,175 crore. The stock trades at a P/E of 68.9, above the industry P/E of 44.4. Looking ahead, defence and aerospace manufacturing, along with the shift to precision machining at Indian factories, supports demand for advanced CNC machines. The company has also built a presence in Europe through an acquisition, adding technology and customers abroad.
What risks should investors check before buying engineering products stocks?
Ans. Investors should check a few risks before buying engineering products stocks. Industrial cycles. Demand for machines moves with capital spending by customers. Raw material costs. Metals and other inputs influence margins. Competition. Imported machines and global brands compete in several segments. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of engineering products stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 20 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.
