Grindwell Norton - Moving Towards A New Orbit: ICICI Securities

Grindwell Norton Ltd.'s high performace refractories business. (image: Company website)

Grindwell Norton - Moving Towards A New Orbit: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Grindwell Norton Ltd. during the annual analyst interaction shared its future growth strategies and growth drivers.

Despite a challenging FY21, the company was able to gain 100 basis points market share in domestic abrasives with strong margins.

It witnessed strong growth in the performance plastics segment driven by life sciences, pharma, chemicals and food and beverages.

Exports grew by a strong 14% YoY and the management foresees good potential in the same supported by the parent, eyeing India as a global sourcing hub.

Factoring-in the higher margins and growth outlook, we raise FY22E and FY23E earnings by 1.9% and 6.1% respectively.

Click on the attachment to read the full report:

ICICI Securities Grindwell Norton Company Update.pdf

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