Based on the recommendation of Nomination and Remuneration Committee, the Board of Directors at its Meeting held today appointed M/s Parikh & Associates, Company Secretaries (FRN: P1988MH009800, ....
Awaiting price reaction for this filing.
Grindwell Norton announced audited FY25 results with revenue from operations rising to ₹2,73,736 lakhs from ₹2,65,168 lakhs last year, though net profit dipped to ₹36,083 lakhs from ₹38,072 lakhs. EPS stood at ₹32.59 versus ₹34.39 in FY24. The Board recommended a dividend of ₹17 per share (340%) with record date July 15, 2025, and the 75th AGM is set for July 25, 2025. Mr. Jean-Claude Lasserre resigned as Non-Executive Director due to other professional commitments, and Ms. Stephanie Billet (CEO of Saint-Gobain Surface Solutions) joined as Additional Director. Mr. Hari Singudasu stepped down as CFO but continues as Executive Director with an expanded role in business development and M&A, with Mr. Prakash Sabarad appointed as the new CFO. The Board also approved up to ₹77 lakhs investment in Jamnagar Renewals Two for sourcing 0.8 MW of green power.
Despite steady topline growth, the slight dip in net profit may draw a cautious market reaction, while the strong 340% dividend provides income support. The CFO transition is orderly with an internal promotion, and the green power investment signals incremental ESG progress with negligible capital impact.