Grindwell Norton Limited , a leading manufacturer of abrasives and industrial ceramics, has reported a steady performance for the first quarter ended June 30, while also announcing plans for future expansion.

Financial Highlights

The company reported a consolidated net profit of ₹94.44 crore for Q1, showing a slight increase from ₹93.36 crore in the same period last year. Revenue from operations remained relatively stable at ₹703.46 crore, compared to ₹705.60 crore in the previous year.

Segment-wise performance for the quarter was as follows:

The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) stood at ₹130.00 crore, with an EBITDA margin of 18.46%.

Land Acquisition Approval

In a strategic move to support future business operations, Grindwell Norton's Board of Directors has approved the purchase of land in Halol, Gujarat. The acquisition, valued at up to ₹18.00 crore, will be on a freehold basis and is expected to be completed by March 31, 2026. The company plans to fund this purchase through cash consideration.

Management Commentary

Venugopal Shanbhag, Managing Director of Grindwell Norton, stated, "Our Q1 results demonstrate the company's resilience in a challenging market environment. While we've seen some pressure on revenues, our focus on operational efficiency has helped maintain profitability. The approval for land acquisition in Halol is a strategic step towards our long-term growth plans, positioning us to capitalize on future opportunities in the market."

Segment Performance

Abrasives

The Abrasives segment, which remains the largest contributor to the company's revenue, reported sales of ₹351.58 crore.

Ceramics & Plastics

This segment showed strength with revenues of ₹297.92 crore.

Digital Services

The Digital Services segment contributed ₹50.90 crore to the top line.

Financial Position

As of June 30, Grindwell Norton maintained a strong balance sheet with total assets of ₹3,197.03 crore. The company's equity share capital stood at ₹55.36 crore, with earnings per share for the quarter at ₹8.53.

Outlook

With the approval of the land acquisition in Gujarat, Grindwell Norton is positioning itself for future growth. This move aligns with the company's strategy to enhance its manufacturing capabilities and meet the evolving demands of its diverse customer base across various industries.

The company continues to focus on innovation, operational excellence, and strategic expansion to maintain its competitive edge in the abrasives and industrial ceramics markets.

Investors and analysts will be watching closely to see how Grindwell Norton leverages this new land acquisition and navigates the market conditions in the coming quarters.

Grindwell Norton Limited, a leading manufacturer of abrasives and other industrial products, has announced a significant dividend proposal and important dates for shareholder actions. The company's board has put forth several key decisions that will be of interest to investors and stakeholders.

Dividend Proposal

Grindwell Norton has recommended a final dividend of ₹17.00 per equity share for the financial year 2025. This proposal underscores the company's commitment to delivering value to its shareholders.

Important Dates

Several crucial dates have been set for shareholders to mark on their calendars:

• Record Date: Shareholders on record as of this date will be eligible for the proposed dividend.
• Annual General Meeting (AGM): The dividend proposal will be put to vote at the AGM for shareholder approval.
• Dividend Payment Date: If approved at the AGM, the dividend will be paid out from this date.

Additional AGM Agenda Items

The upcoming Annual General Meeting will not only address the dividend proposal but also include voting on other important matters:

1. Director Appointments: Shareholders will have the opportunity to vote on the appointment of directors.
2. Auditor Remuneration: The meeting will also address the matter of auditor remuneration.

These agenda items highlight the company's focus on corporate governance and transparency in its operations.

Investor Implications

The proposed dividend, if approved, represents a significant return to shareholders. Investors should take note of the record date to ensure their eligibility for the dividend. Additionally, the AGM presents an opportunity for shareholders to participate in key decision-making processes of the company.

Grindwell Norton's dividend proposal and the scheduled shareholder actions reflect the company's financial health and its commitment to shareholder interests. As always, investors are advised to consider their individual financial situations and consult with financial advisors before making investment decisions based on this information.