Grindwell Norton Limited announced the outcome of its Board Meeting held on May 9, 2025.
- The Board approved the Audited Standalone and Consolidated Financial Results for the quarter and financial year ended March 31, 2025.
- A dividend of ₹17/- per equity share (340%) of ₹5/- each has been recommended for the financial year ended March 31, 2025, subject to approval at the ensuing Annual General Meeting (AGM).
- The Record Date for determining dividend entitlement is Tuesday, July 15, 2025. If approved, the dividend will be paid on or from Tuesday, July 29, 2025.
- The 75th AGM is scheduled for Friday, July 25, 2025, via Video Conferencing/Other Audio Visual Means.
- Changes in Directors and Key Managerial Personnel were announced:
- Mr. Jean-Claude Lasserre resigned as Non-Executive Director effective May 9, 2025.
- Ms. Stephanie Billet was appointed as an Additional Director (Non-Executive) effective May 10, 2025.
- Mr. Hari Singudasu resigned from the position of Chief Financial Officer (CFO) effective May 9, 2025. He will continue as Executive Director, focusing on business development, strategic planning, and mergers and acquisitions.
- Mr. Prakash Sabarad was appointed as the new CFO effective May 10, 2025.
- M/s. Parikh & Associates, Company Secretaries, were appointed as Secretarial Auditors for a period of five consecutive years, from FY 2025-26 to FY 2029-2030, subject to shareholder approval.
- An investment not exceeding ₹77 lakhs in Jamnagar Renewals Two Private Limited was approved for sourcing green power.
Key Standalone Financial Highlights for the year ended March 31, 2025 (vs March 31, 2024):
- Revenue from Operations: ₹273,736.43 lakhs (₹265,167.90 lakhs in FY24)
- Net Profit: ₹36,083.06 lakhs (₹38,071.69 lakhs in FY24)
- Basic Earnings Per Share: ₹32.59 (₹34.39 in FY24)
Standalone Segment Revenue for the year ended March 31, 2025 (vs March 31, 2024):
- Abrasives: ₹140,251.27 lakhs (₹135,832.89 lakhs in FY24)
- Ceramics & Plastics: ₹110,658.97 lakhs (₹106,672.09 lakhs in FY24)
- Digital Services: ₹18,409.91 lakhs (₹18,892.32 lakhs in FY24)
- Others: ₹5,407.71 lakhs (₹5,408.73 lakhs in FY24)
The Statutory Auditors, M/s. Kalyaniwalla & Mistry LLP, have issued an unmodified opinion on the Standalone Financial Results for the year ended March 31, 2025.