Grindwell Norton Ltd., incorporated in the year 1950, is a Mid Cap company (having a market cap of Rs 12293.24 Crore) operating in Industrial Consumables sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 521.24 Crore, up 12.67 % from last quarter Total Income of Rs 462.61 Crore and up 38.79 % from last year same quarter Total Income of Rs 375.55 Crore. Company reported net profit after tax of Rs 79.65 Crore in latest quarter.
Investment Rationale
Factoring in better-than-expected growth and margins, the brokerage raises FY22E and FY23E earnings by 9% and 11.5%, respectively.
Promoter/FII Holdings
Promoters held 58.3 per cent stake in the company as of March 31, 2021, while FIIs held 4.5 per cent, DIIs 36.3 per cent and public and others 21.3 per cent.
