Grindwell Norton Q4 PAT up 11.4% Rs89.72cr on 44% operating profit growth in ceramics business

8 May 2022 , 07:31 AM

Grindwell Norton Ltd reported 9.84% growth in total revenues yoy for the Mar-22 quarter on consolidated basis at Rs558.87cr. On a sequential basis, revenues were higher for the quarter by 11.36%.

For the full year FY22, the revenues were higher by 22.9% at Rs2,013cr. While revenue growth in the abrasives was flat due to limited building activity, the revenues from ceramics and plastics saw a sharp growth in the quarter.

However, net cash generated form operations fell by almost 40% yoy in FY22 due to higher inventory costs.

The consolidated net profit for Q4 was up 11.40% at Rs89.72 crore while it was up on a sequential basis by 28.72%.

The profits from the abrasives business and the IT services were flat while the operating profits from the ceramics and plastics business grew sharply by almost 44% to boost profits on a yoy basis.

Net margins stood at 16.05% in Mar-22 quarter compared to 15.83% in Mar-21. NPM was higher sequentially compared to 13.89% in Q3. The company has declared a final dividend of Rs.5 per share to shareholders.

Financial highlights for Mar-22 compared yoy and sequentially

	Grindwell Norton
Rs in Crore	Mar-22	Mar-21	YOY	Dec-21	QOQ
Total Income (Rs cr)	₹ 558.87	₹ 508.80	9.84%	₹ 501.88	11.36%
Net Profit (Rs cr)	₹ 89.72	₹ 80.54	11.40%	₹ 69.70	28.72%
Diluted EPS (Rs)	₹ 8.10	₹ 7.27		₹ 6.30
Net Margins	16.05%	15.83%		13.89%