ICICI Direct: Grindwell Norton’s Strong Q2 Performance Led By Abrasives Segment
Grinwell Norton Ltd. (Source: Company website)

ICICI Direct: Grindwell Norton’s Strong Q2 Performance Led By Abrasives Segment

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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 decent Q2 FY21 numbers across operational parameters owing to pent-up demand and revival in key sectors like automotive, industrial, construction, engineering amid unlock.

Revenues were at Rs 439.0 crore, decent growth of 11.9% YoY. Abrasives, ceramics and ‘new initiatives’ segment contributed approximately 59%, 32% and 9%, respectively.

Overall, Ebitda margins were at 21.3%, improving 470 basis points YoY.

This was primarily aided by a reduction in overall operating expenses and employee expenses.

Click on the attachment to read the full report:

ICICI Direct Grindwell Q2FY21 Result Review.pdf

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