Grindwell Norton Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on July 25, 2025
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Grindwell Norton's board approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025, with an unmodified (clean) auditor opinion from Kalyaniwalla & Mistry LLP. The board recommended a dividend of ₹17 per share (340%) on the ₹5 face value, subject to shareholder approval at the 75th AGM scheduled for July 25, 2025, with a record date of July 15, 2025. FY25 revenue from operations rose about 3% to ₹2,73,736 lakhs, but net profit declined roughly 5% to ₹36,083 lakhs (EPS ₹32.59 vs ₹34.39 last year), partly because the prior year included a ₹319.58 lakh exceptional loss on sale of a stake in SG Shinagawa Refractories India. Key leadership changes: Mr. Jean-Claude Lasserre resigned as Non-Executive Director, Ms. Stephanie Billet was appointed as Additional Non-Executive Director, CFO Hari Singudasu stepped down (continuing as Executive Director with an expanded strategic/M&A role), and Mr. Prakash Sabarad was named the new CFO. The board also approved a small green-power investment of up to ₹77 lakhs in Jamnagar Renewals Two Private Limited to source 0.8 MW from a wind-solar hybrid project, and appointed Parikh & Associates as Secretarial Auditor for five years.
Shareholders get a robust 340% dividend payout, though modest revenue growth and a slight dip in profit may temper near-term excitement. The CFO transition and reshuffle appear to be part of parent Saint-Gobain's succession planning and should not be disruptive; the small green-power investment signals incremental sustainability focus but is not material to financials.