Q1FY22 Result Update - Grindwell Norton - ICICI Direct

GNL reported robust Q1FY22 results.

- Revenues came in at Rs. 439.3 crore, up 89% YoY on a low base

- EBITDA in Q1FY22 came in at Rs. 87 crore, up 345% YoY with margins at 19.8% aided by positive operating leverage and stronger growth

- Consequently, PAT grew 123.4% to Rs. 63.2 crore, YoY

Key triggers for future price performance

- Ambition to maintain market share in abrasives and increase market share in ceramic & plastics with gradual penetration of new value added products

- High margin value added products and solutions oriented approach to drive margin expansion (from ~16.7% in FY20 to 20.6% in FY23E)

- We expect revenue, EBITDA to grow at CAGR of 16.7%, 19.2%, respectively, over FY21-23E

- Net debt free b/s, double-digit return ratios & strong cash generation

For details, click on the link below: Link to the report

Shares of GRINDWELL NORTON LTD. was last trading in BSE at Rs. 1262.05 as compared to the previous close of Rs. 1273.35. The total number of shares traded during the day was 4847 in over 1062 trades.

The stock hit an intraday high of Rs. 1299 and intraday low of 1241.1. The net turnover during the day was Rs. 6103742.

Source : Equity Bulls

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