Grindwell Norton Ltd Q1FY18
Consolidated Results Q1FY18: (Rs. in crore)
|EBITDA Margin (%)||14.4|||
|Net Profit (adjusted)||30.3||2.8|
Grindwell Norton’s consolidated revenue for the quarter came in at Rs. 360 crore, registering 7.6% yoy increase. This was driven by increase in revenue from Ceramics & Plastics and Abrasives by 18% yoy and 3% yoy, respectively.
EBITDA for the quarter rose by 3% yoy to Rs. 52 crore with a corresponding margin contraction of 64 bps. EBITDA margin for the quarter stood at 14.4%. This margin contraction was led by increase in other expenses and cost of raw material by 16% yoy and 12% yoy, respectively.
The PAT for the quarter came in at Rs. 30.3 crore, yoy increase of 2.8%. This was due 7.7% yoy decrease in interest expenses.
Grindwell Norton Ltd is currently trading at Rs. 432.65, up by 8.05 points or 1.9% from its previous closing of Rs. 424.60 on the BSE.
The scrip opened at Rs. 430 and has touched a high and low of Rs. 432.65 and Rs. 421.05 respectively. So far 39,353(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.