Grindwell Norton invests Rs 15 lakh in Cleanwin Energy Three LLP

Grindwell Norton has made an investment of Rs 15 lakh in Cleanwin Energy Three LLP as a power purchase agreement.

Grindwell Norton's contribution stood at 27.27% in Cleanwin Energy Three LLP. The business of the LLP shall be carried in the name and style of 'Cleanwin Energy Three LLP.' The designated partners, Harshvardhan Goenka, Manisha Goenka, Yellowstone Clean Energy LLP and Grindwell Norton, shall be responsible for doing all such acts, matters and things as are required to be done by the LLP in respect of compliance with the provisions of the LLP Act, as per the company's exchange filing.

Grindwell Norton's consolidated net profit jumped 11% to Rs 71.54 crore on a 16.8% surge in net sales to Rs 509.52 crore in Q2 September 2021 over Q2 September 2020.

Shares of Grindwell Norton lost 0.36% to Rs 1,827.55 on BSE. Grindwell Norton manufactures abrasive products, including bonded and coated abrasives. The company also manufactures silicon carbide and aluminum oxide, as well as industrial ceramics. The firm also operates through a joint venture which manufactures a wide range of centralized lubrication systems (CLS).

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