Grindwell Norton Q4 PAT rises 11% YoY to Rs 89 cr

Grindwell Norton's net profit rose 11.4% to Rs 89.72 crore on a 10.3% increase in net sales to Rs 558.87 crore in Q4 FY22 over Q4 FY21.

Profit before tax rose by 8.6% to Rs 119.93 crore in Q4 FY22 from Rs 110.40 crore posted in Q4 FY21. Total expenses for the quarter grew by 9.9% year on year to Rs 435.26 in Q4 FY22. Cost of raw materials consumed was up by 16.5% year on year to Rs 163.7 crore in Q4 FY22.

On full year basis, the company reported a 23.6% rise in consolidated net profit to Rs 295.65 crore on a 22.9% jump in net sales to Rs 2,012.76 crore in the financial year ended 2022 over the financial year ended 2021.

Meanwhile, the company's board recommended a dividend of Rs 12 per equity share for the financial year ended 31 March 2022.

Grindwell Norton is a part of the high performance materials division, which is a part of the innovative materials sector of the Group. Listed on the Bombay and National Stock Exchanges, the company pioneered the manufacture of grinding wheels in India in 1941.

Shares of Grindwell Norton closed 1.14% lower at Rs 1,675.40 on Friday.

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