Grindwell Norton Limited has informed the Exchange regarding Appointment of Mr Prakash Sabarad as Chief Financial Officer of the company w.e.f. May 10, 2025.
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Grindwell Norton announced multiple outcomes from its May 9, 2025 board meeting. Mr. Prakash Sabarad (a Chartered Accountant with 30+ years in the Saint-Gobain Group, including prior stints at Grindwell Norton) was appointed CFO effective May 10, 2025, replacing Mr. Hari Singudasu, who steps down as CFO but continues as Executive Director to focus on business development, strategy, and M&A. Non-Executive Director Mr. Jean-Claude Lasserre resigned (other professional commitments) and was replaced by Ms. Stephanie Billet (CEO of Saint-Gobain Surface Solutions). The board also approved FY25 audited results with standalone revenue of ₹2,73,736 lakhs (up ~3.2% YoY) but net profit of ₹36,083 lakhs (down ~5.2% YoY), recommended a dividend of ₹17/share (340%), appointed M/s. Parikh & Associates as secretarial auditor for 5 years, and approved a ₹77 lakh investment in Jamnagar Renewals Two for sourcing 0.8 MW of green power.
Continuity is preserved as the new CFO is a long-tenured internal candidate from the Saint-Gobain ecosystem, and the outgoing CFO retains an executive board seat focused on growth initiatives. Shareholders get a robust 340% dividend despite a mild decline in annual profits, signaling cash-flow strength. The board refresh and the small green-power investment are unlikely to move the stock meaningfully on their own.