Grindwell Norton (506076) Q1 24/25 earnings summary

Executive summary

• Unaudited standalone and consolidated financial results for the quarter ended June 30, 2024, were approved and reviewed by the Board and auditors, with no material misstatements identified.

• Board approved an investment up to ₹1.21 crores in Radiance MH Sunrise Thirteen Private Limited for sourcing green energy via solar power.

• Retirement of Independent Director Mr. Keki Elavia effective July 18, 2024, was noted.

Financial highlights

• Standalone revenue from operations for Q1 FY25 was ₹69,094 lakhs, up from ₹66,009 lakhs in Q1 FY24.

• Standalone net profit for Q1 FY25 was ₹9,191 lakhs, compared to ₹9,710 lakhs in Q1 FY24.

• Consolidated revenue from operations for Q1 FY25 was ₹70,560 lakhs, up from ₹66,835 lakhs in Q1 FY24.

• Consolidated net profit for Q1 FY25 was ₹9,337 lakhs, compared to ₹9,688 lakhs in Q1 FY24.

• Exceptional loss of ₹320 lakhs (standalone) and ₹35 lakhs (consolidated) due to sale of stake in SG Shinagawa Refractories India Pvt Ltd.

Outlook and guidance

• Continued focus on sustainability initiatives, including green energy sourcing.