Based on the recommendation of Nomination and Remuneration Committee and with the approval of the Audit Committee, the Board of Directors at their meeting held today, appointed Mr. Prakash ....
Awaiting price reaction for this filing.
Grindwell Norton's Board approved audited FY25 results with revenue from operations at ₹2,73,736 lakhs (up ~3.2% YoY) but net profit declining ~5% to ₹36,083 lakhs (EPS ₹32.59 vs ₹34.39). The Board recommended a dividend of ₹17 per share (340% on face value of ₹5), with record date July 15, 2025 and AGM on July 25, 2025. CFO Mr. Hari Singudasu stepped down (he stays on as Executive Director to focus on business development, strategy and M&A), and Mr. Prakash Sabarad, a 30-year Saint-Gobain veteran, was appointed new CFO. Non-Executive Director Mr. Jean-Claude Lasserre resigned due to other professional commitments, replaced by Ms. Stephanie Billet (CEO, Saint-Gobain Surface Solutions) as Additional Director. The company also approved a ₹77 lakh investment in Jamnagar Renewals Two Pvt Ltd to source 0.8 MW green power.
Net profit dip despite revenue growth may draw attention, though operating cash flow improved sharply to ₹45,293 lakhs (vs ₹36,393 lakhs). Robust 340% dividend signals management confidence. The CFO transition is an internal Saint-Gobain succession with no operational disruption expected, while green power investment aligns with sustainability goals.