The Board of Directors at its meeting held today, have approved the investment not exceeding Rs. 77 lakhs in Jamnagar Renewals Two Private Limited towards sourcing of Green Power
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Grindwell Norton's board approved audited FY25 results with an unmodified auditor opinion. Standalone revenue from operations grew ~3.2% to ₹2,73,736 lakhs (vs ₹2,65,168 lakhs in FY24), but net profit declined ~5.2% to ₹36,083 lakhs (vs ₹38,072 lakhs), and EPS fell to ₹32.59 from ₹34.39. The board recommended a strong dividend of ₹17 per share (340% on ₹5 face value), with July 15, 2025 as the record date. The board approved a ₹77 lakh investment in Jamnagar Renewals Two Pvt Ltd to source 0.8 MW of green power, holding not exceeding 2% stake. Several leadership changes were announced: Mr. Jean-Claude Lasserre resigned as Non-Executive Director, Ms. Stephanie Billet was appointed in his place, Mr. Hari Singudasu stepped down as CFO to focus on business development and M&A as Executive Director, and Mr. Prakash Sabarad was appointed as the new CFO. Operating cash flow improved significantly to ₹45,293 lakhs from ₹36,393 lakhs in FY24.
Shareholders benefit from a robust 340% dividend despite a mild dip in profitability. The minor green power investment signals sustainability efforts but is too small to move the needle. Leadership transitions appear orderly with internal succession, while the decline in PAT despite revenue growth warrants attention on margin trends.