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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.
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