Grindwell Norton Q4 Review - Strong Performance, Outlook Positive: Anand Rathi
A worker grinds the stock, another way of forming steel rather than forging, at the workshop in U.S. (Photographer Meg Roussos/Bloomberg)

Grindwell Norton Q4 Review - Strong Performance, Outlook Positive: Anand Rathi


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.

Anand Rathi Report

Led by pick-up in industrial activity domestically and in exports, Grindwell Norton Ltd. posted 42% YoY revenue growth in Q4 FY21.

Both segments grew: abrasives (up 38% YoY) and ceramics and plastics (up 57% YoY).

The Ebitda margin continued to see sequential improvement to 22.5%, led by higher utilisation, tight cost controls, a favourable product mix and periodic price hikes.

We believe the company’s focus on exports by penetrating new regions and innovative products to cater to new industries with an increasing number of applications are likely to drive growth.

Click on the attachment to read the full report:

Anand Rathi Grindwell Norton Company Update.pdf


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