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Grindwell Norton Q1 Review - Strong Performance Across Key Segments: ICICI Direct

Grindwell Norton Q1 Review - Strong Performance Across Key Segments: ICICI Direct

Grinwell Norton Ltd. (Source: Company website)
Grinwell Norton Ltd. (Source: Company website)

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 Direct Report

Grindwell Norton Ltd. reported a robust set of Q1 FY22 numbers across all operational parameters owing to better demand, favourable product mix and revival in key sectors despite pandemic challenges.

Revenues came in at Rs 439.3 crore, strong growth of 89% YoY (amid low base) while it declined marginally by 13.7% on QoQ basis, primarily aided by strong performance in abrasives, ceramics and plastic segment.

Grindwell Norton's overall, Ebitda margins came in at 19.8% (versus 8.4% Q1 FY21) whereas it declined marginally declined 240 basis points QoQ.

This was primarily aided by reduction in overall operating expenses and better gross margins that improved 70 bps to 56.6%, YoY and remained stable QoQ.

Click on the attachment to read the full report:

ICICI Direct Grindwell Q1FY22 Result Update.pdf

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