Grindwell Norton Limited has informed the Exchange regarding Appointment of Ms Stephanie Billet as Non- Executive Director of the company w.e.f. May 10, 2025.
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The board approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025, with statutory auditor Kalyaniwalla & Mistry LLP issuing an unmodified opinion. FY25 revenue from operations grew to ₹2,73,736.43 lakhs (from ₹2,65,167.90 lakhs in FY24), but net profit declined to ₹36,083.06 lakhs (from ₹38,071.69 lakhs) with EPS at ₹32.59 (vs ₹34.39). The board recommended a dividend of ₹17 per share (340%) with record date July 15, 2025 and AGM on July 25, 2025. Non-Executive Director Mr. Jean-Claude Lasserre resigned due to other professional commitments, and Ms. Stephanie Billet (CEO of Saint-Gobain Surface Solutions) was appointed as Additional Non-Executive Director. CFO Mr. Hari Singudasu stepped down from the CFO role to focus on business development, M&A and strategy as Executive Director, with Mr. Prakash Sabarad (a 30+ year Saint-Gobain Group veteran) appointed as new CFO. The board also approved a ₹77 lakh investment in Jamnagar Renewals Two Private Limited to source 0.8 MW of green (wind-solar hybrid) power.
Mixed signals for shareholders: modest revenue growth (~3%) but a ~5% drop in net profit and EPS. The 340% dividend signals continued shareholder returns discipline. Leadership reshuffle is internal/parent-group related (Saint-Gobain executives) and likely aimed at driving M&A and growth, but the green power investment and new secretarial auditor are routine governance steps. Overall a stable, governance-positive outcome with no major red flags.