Based on the recommendation of Audit Committee, the Board of Directors at its meeting held today, approved the appointment of M/s Parekh & Associates, Company Secretaries (FRN: P1988MH009800, ....
Awaiting price reaction for this filing.
Grindwell Norton reported FY25 standalone revenue of ₹2,73,736 lakhs (up ~3.2% YoY) and net profit of ₹36,083 lakhs (down ~5.2% YoY), with Q4 revenue at ₹69,123 lakhs and net profit at ₹9,132 lakhs; the auditor (Kalyaniwalla & Mistry LLP) issued an unmodified opinion. The Board recommended a dividend of ₹17 per share (340% on ₹5 face value), with record date July 15, 2025 and AGM on July 25, 2025. CFO Hari Singudasu stepped down from the finance role to focus on business development, strategy and M&A as Executive Director, and Prakash Sabarad (a 30+ year Saint-Gobain Group veteran who began his career at Grindwell in 1990) was appointed as the new CFO from May 10, 2025. Non-Executive Director Jean-Claude Lasserre resigned citing professional commitments and was replaced by Stephanie Billet (CEO of Saint-Gobain Surface Solutions). The Board also approved a small ₹77 lakh investment in Jamnagar Renewals Two Private Limited to source 0.8 MW of green power and appointed Parikh & Associates as Secretarial Auditor for five years.
Healthy 340% dividend signals strong cash returns for shareholders, though the ~5% YoY decline in FY25 net profit despite revenue growth indicates margin pressure worth watching. The CFO change is internal and well-managed with a long-tenured successor, while the green power investment is too small to materially affect financials but is ESG-positive.