Grindwell Norton Q4 Review - Strong Performance Led By Ceramics, Plastics: ICICI Direct
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ICICI Direct Report
Grindwell Norton Ltd. reported strong Q4 FY21 numbers across operational parameters owing to better demand, favourable product mix and revival in key sectors like automotive, industrial, construction, engineering amid economic recovery.
Revenues came in at Rs 508.8 crore, up a strong 39.1% YoY (amid low base) while it grew 11.2% on a QoQ basis, primarily aided by strong performance in the ceramics and plastic segment.
Revenue contribution from abrasives, ceramics and IT services were at ~60%, ~32.5% & ~6.5%, respectively.
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