A large cap firm, Grindwell Norton reported a market valuation of ₹21,003.03 Cr on Friday at closing. The leading manufacturer & exporter of abrasives & silicon carbide in India is Grindwell Norton Limited.
The company has reported a total income of Rs.685.96 crores during the quarter ended March 31, 2023 as compared to Rs.570.43 crores during the quarter ended March 31, 2022 up by 20.25% YoY. The company declared a net profit of ₹99.23 Cr Q4FY23 up by 10.60% YoY from ₹89.72 Cr recorded during Q4FY22. The company said its EPS stood at ₹8.96 during the quarter under review up by 10.62% YoY from ₹8.10 during the year-ago quarter.
During FY23, the company recorded a net income of ₹2597.41 Cr up by 25.73% YoY from ₹2065.85 Cr in FY22. The company said its net profit reached ₹361.91 Cr in FY23 up by 22.41% YoY from ₹295.65 Cr in FY22 and its EPS stood at ₹32.69 up by 22.43% YoY from ₹26.70 in FY22.
“The Board of Directors have recommended a dividend of Rs. 14.50/- per equity share (290%) of Rs. 5/- each for the financial year 2022-23, subject to the approval of the Members at the ensuing AGM of the Company to be held on Monday, August 14, 2023. The Dividend, if approved shall be paid/dispatched on the fourth day from the conclusion of 73rd Annual General Meeting of the Company (“AGM”), subject to the approval of the Members of the Company,” said Grindwell Norton in a stock exchange filing.
On Friday the shares of Grindwell Norton closed on the NSE at ₹1,888.50 apiece down by 0.44% from the previous close of ₹1,896.90. The stock touched a 52-week-high of ₹2,328.35 on (09-Sep-2022) and a 52-week-low of ₹1,451.00 on (20-Jun-2022). During Q4FY23, the company reported a promoter shareholding of 58.04%, FIIs stake of 8.28%, DIIs stake of 15.32% and a public stake of 18.37%.
