Grindwell Norton Q2 Review - Strong Growth Despite Headwinds: 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. has reported a healthy 17% YoY growth in Q2 FY22 led by strong performance from both abrasives and ceramics and plastics segments.Despite headwinds, the company was able to limit its margin decline to 111 basis points YoY, landing a strong 20% Ebitda margin, leading to 15% YoY growth in adjusted profit after tax. We believe revival in domestic industrial segment coupled with increased traction from life sciences and chemicals would likely support growth prospects of Grindwell Norton. Factoring in higher margins and growth outlook, we raise FY22 and FY23 earnings estimates by 18% and 20%, respectively..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Grindwell Norton Q2 Review - Strong Growth Despite Headwinds: ICICI Securities

Grindwell Norton Q2 Review - Strong Growth Despite Headwinds: ICICI Securities

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