- Home
- Results news
- Grindwell Norton
- Q4 FY25 results
Grindwell Norton Q4 FY25 results: net profit up 0.2% to ₹92.84 crore, revenue up 2.7%
Grindwell Norton Limited reported consolidated revenue of ₹709.51 crore in Q4 FY25, up 2.7% from Q4 FY24 and 1.0% from Q3 FY25. Net profit was ₹92.84 crore, while EBITDA rose to ₹127.32 crore and the EBITDA margin declined to 17.9% from 18.1% a year earlier.
Key points
- Consolidated Q4 FY25 revenue was ₹709.51 crore, up ₹18.43 crore or 2.7% from Q4 FY24.
- EBITDA was ₹127.32 crore, up ₹2.32 crore or 1.9% year on year, while the margin fell 0.2 percentage points to 17.9%.
- Net profit was ₹92.84 crore, up ₹0.16 crore or 0.2% from Q4 FY24; basic EPS was ₹8.36.
- For FY25, revenue was ₹2,811.59 crore, up 4.6%, while PAT was ₹371.27 crore, down 3.3%.
- The board recommended a dividend of ₹17/- per equity share, subject to shareholder approval at the AGM on 25 July 2025.
How did Grindwell Norton perform in Q4 FY25?
Grindwell Norton reported consolidated revenue of ₹709.51 crore in Q4 FY25, compared with ₹691.08 crore in Q4 FY24 and ₹702.61 crore in Q3 FY25. EBITDA was ₹127.32 crore, up from ₹125 crore a year earlier and ₹123.45 crore in the previous quarter. The EBITDA margin was 17.9%, against 18.1% in Q4 FY24 and 17.6% in Q3 FY25.
Net profit for the quarter was ₹92.84 crore, up from ₹92.68 crore in Q4 FY24 and ₹87.97 crore in Q3 FY25. Profit attributable to owners was ₹92.54 crore, against ₹92.61 crore a year earlier and ₹86.82 crore in the previous quarter. Basic EPS was ₹8.36, unchanged from Q4 FY24 and up from ₹7.84 in Q3 FY25.
On the standalone basis, revenue was ₹691.23 crore and profit after tax was ₹91.33 crore. The standalone profit before tax was ₹93.5 crore, compared with ₹93.5 crore in the year-ago quarter, while revenue was up 1.4%.
| ₹ crore | Q4 FY25 | Q3 FY25 | Q4 FY24 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 709.51 | 702.61 | 691.08 | +2.7% | +1.0% |
| Other income | 22.74 | 17.95 | 17.29 | +31.5% | +26.7% |
| Total expenses | 609.58 | 604.75 | 587.61 | +3.7% | +0.8% |
| EBITDA | 127.32 | 123.45 | 125 | +1.9% | +3.1% |
| EBITDA margin | 17.9% | 17.6% | 18.1% | −0.2 pp | +0.3 pp |
| Profit before tax | 122.67 | 115.80 | 120.76 | +1.6% | +5.9% |
| Tax | 30.06 | 28.18 | 27.60 | +8.9% | +6.7% |
| Net profit | 92.84 | 87.97 | 92.68 | +0.2% | +5.5% |
| EPS (₹) | 8.36 | 7.84 | 8.36 | +0.0% | +6.6% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Grindwell Norton's costs and profit?
Total expenses were ₹609.58 crore in Q4 FY25, up ₹21.97 crore or 3.7% from Q4 FY24. Cost of materials rose ₹5.75 crore to ₹219.12 crore, depreciation increased ₹5.23 crore to ₹24.89 crore, and other expenses rose ₹12.10 crore to ₹173.54 crore. Employee cost fell ₹7.19 crore to ₹82.57 crore, while finance costs increased ₹0.63 crore to ₹2.50 crore.
Other income was ₹22.74 crore, up ₹5.45 crore or 31.5% from Q4 FY24, and there was no exceptional item. Profit before tax increased ₹1.91 crore to ₹122.67 crore. Tax was ₹30.06 crore, up ₹2.46 crore or 8.9%, leaving net profit of ₹92.84 crore against ₹92.68 crore.
Against Q3 FY25, other income was higher by ₹4.79 crore, while cost of materials was lower by ₹7.62 crore and other expenses were lower by ₹0.87 crore. Total expenses rose ₹4.83 crore, and tax increased ₹1.88 crore; net profit rose ₹4.87 crore to ₹92.84 crore.
| ₹ crore | Q4 FY25 | Q4 FY24 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 219.12 | 213.37 | +5.75 | +2.7% |
| Employee cost | 82.57 | 89.76 | −7.19 | −8.0% |
| Finance costs | 2.50 | 1.87 | +0.63 | +33.7% |
| Depreciation | 24.89 | 19.66 | +5.23 | +26.6% |
| Other expenses | 173.54 | 161.44 | +12.10 | +7.5% |
| Total expenses | 609.58 | 587.61 | +21.97 | +3.7% |
| Other income | 22.74 | 17.29 | +5.45 | +31.5% |
| Tax | 30.06 | 27.60 | +2.46 | +8.9% |
Source: Company's results filing (XBRL).
How did Grindwell Norton do in FY25 as a whole?
For FY25, consolidated revenue was ₹2,811.59 crore, up ₹124.82 crore or 4.6% from FY24. Total income increased ₹136.39 crore or 5.0% to ₹2,891.47 crore. Profit before tax was ₹491.02 crore, down ₹17.74 crore or 3.5% from ₹508.76 crore in FY24.
PAT for FY25 was ₹371.27 crore, down ₹12.69 crore or 3.3% from ₹383.96 crore in FY24. Basic EPS declined to 33.3 from 34.65, while the company reported no exceptional item in the quarter.
| ₹ crore | FY25 | FY24 | Change |
|---|---|---|---|
| Revenue from operations | 2,812 | 2,687 | +4.6% |
| Profit before tax | 491.02 | 508.76 | −3.5% |
| Net profit | 371.27 | 383.96 | −3.3% |
| EPS (₹) | 33.30 | 34.65 | −3.9% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 31 March 2025, total assets were ₹3,056.79 crore, compared with ₹2,840.08 crore at 30 September 2024. Total equity was ₹2,269.55 crore against ₹2,069.89 crore. Borrowings fell to ₹7.32 crore from ₹17.34 crore, while cash increased to ₹71.28 crore from ₹34.83 crore. Inventories were ₹489.88 crore, trade receivables ₹362.43 crore and trade payables ₹425.28 crore.
For FY25, operating cash flow was ₹458.49 crore, compared with ₹367.94 crore in FY24. Investing cash flow was an outflow of ₹212.75 crore against ₹181.68 crore, and financing cash flow was an outflow of ₹223.58 crore against ₹176.77 crore. Capital expenditure was ₹94.06 crore, compared with ₹172.37 crore a year earlier. FY24 closing cash was ₹49.1 crore.
| ₹ crore | As of 31 March 2025 | As of 30 September 2024 |
|---|---|---|
| Total assets | 3,057 | 2,840 |
| Total equity | 2,270 | 2,070 |
| Borrowings | 7.32 | 17.34 |
| Cash and equivalents | 71.28 | 34.83 |
| Inventories | 489.88 | 496.71 |
| Trade receivables | 362.43 | 377.98 |
Source: Company's results filing (XBRL).
| ₹ crore | FY25 | FY24 |
|---|---|---|
| Cash from operations | 458.49 | 367.94 |
| Cash from investing | −212.75 | −181.68 |
| Cash from financing | −223.58 | −176.77 |
| Capital expenditure | 94.06 | 172.37 |
Source: Company's results filing (XBRL).
How has Grindwell Norton done over the last 8 quarters?
Revenue rose year on year in each of the last eight quarters. It reached ₹709.51 crore in Q4 FY25, the highest quarterly figure in the reported period, while the earlier low was ₹659.94 crore in Q3 FY24. Revenue also increased from ₹702.61 crore in Q3 FY25, so the latest quarter continued the upward direction.
PAT bottomed at ₹87.97 crore in Q3 FY25 before rising to ₹92.84 crore in Q4 FY25; it was close to the ₹92.68 crore recorded in Q4 FY24. EBITDA margin moved in the opposite direction, falling from 18.1% in Q4 FY24 to 17.6% in Q3 FY25 before recovering to 17.9% in Q4 FY25.
Which businesses drove the quarter?
Abrasives revenue was ₹359.94 crore in Q4 FY25, down 1.7% from ₹366.04 crore in the year-ago quarter. Segment EBIT was ₹48.22 crore, compared with ₹52.57 crore, and the reported EBIT margin was 13.4%.
Ceramics & Plastics revenue rose 5.8% to ₹292.44 crore from ₹276.38 crore, while EBIT increased to ₹50.55 crore from ₹44.89 crore. The reported EBIT margin was 17.3%. Digital Services revenue increased 6.5% to ₹48.02 crore from ₹45.07 crore, with EBIT of ₹11.43 crore against ₹12.61 crore and a reported EBIT margin of 23.8%. Others reported revenue of ₹14.46 crore, EBIT of ₹2.67 crore and an EBIT margin of 18.4%; no year-ago comparison was provided for this segment.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Abrasives | 359.94 | −1.7% | 48.22 | 13.4% |
| Abrasives | 359.94 | −1.7% | 48.22 | 13.4% |
| Ceramics & Plastics | 292.44 | +5.8% | 50.55 | 17.3% |
| Ceramics & Plastics | 292.44 | +5.8% | 50.55 | 17.3% |
| Digital Services | 48.02 | +6.5% | 11.43 | 23.8% |
| Digital Services | 48.02 | +6.5% | 11.43 | 23.8% |
| Others | 14.46 | 2.67 | 18.4% | |
| Others | 14.46 | 2.67 | 18.4% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The board approved the audited standalone and consolidated financial results for the quarter and year ended 31 March 2025. The statutory auditor issued an unmodified opinion on the financial results. The board recommended a dividend of ₹17/- per equity share, or 340% of ₹5/- each, subject to shareholder approval at the AGM on 25 July 2025. The record date was fixed as 15 July 2025.
The board also approved an investment of up to ₹77 lakhs in Jamnagar Renewals Two Private Limited towards sourcing green power. Non-executive director Jean-Claude Lasserre resigned due to other professional commitments, and Stephanie Billet was appointed as an additional non-executive director with effect from 10 May 2025.
Hari Singudasu resigned as CFO and continued as executive director, focusing on business development, strategic planning and mergers and acquisitions. Prakash Sabarad was appointed CFO with effect from 10 May 2025. The board also approved Parikh & Associates as secretarial auditors for five consecutive years from FY25-26 through FY29-30, subject to shareholder approval.
How did Grindwell Norton shares react?
The filing appeared after market hours. From the price when the filing appeared, the stock was up 1.6% after five minutes, 1.6% after 15 minutes and 3.5% after 30 minutes. It closed the reaction day up 2.1% from the previous close of ₹1,611, with the base price at the filing at ₹1,637.00.
By the next day's close, the stock was up 2.9% from its pre-results close, and by the fifth session's close it was up 8.6%. The Abrasives & Bearings industry median was up 2.2% on the reaction day and 10.6% over five sessions, so Grindwell Norton's excess-sector move was -0.2 percentage points and -2.0 percentage points. Earlier results-day moves were -1.6% on 13 February 2025, 1.9% on 30 October 2024, -3.5% on 4 July 2024 and 3.4% on 6 May 2024.
| After the filing | Stock | Abrasives & Bearings median |
|---|---|---|
| 5 minutes | +1.6% | |
| 15 minutes | +1.6% | |
| 30 minutes | +3.5% | |
| Reaction day | +2.1% | +2.2% |
| Next day | +2.9% | +1.8% |
| 5 days | +8.6% | +10.6% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 13 February 2025 | −1.6% |
| 30 October 2024 | +1.9% |
| 4 July 2024 | −3.5% |
| 6 May 2024 | +3.4% |
Source: MarketPing price-reaction measurement.
How did other Abrasives & Bearings companies do?
Five other Abrasives & Bearings companies had filed for the quarter, with a median revenue growth of 1.3%. Three peers grew more slowly than Grindwell Norton, while two grew faster than the company, which reported Q4 revenue growth of 2.7%. Among the five peers, two reported higher profit.
| Grindwell Norton revenue growth (YoY) | +2.7% |
|---|---|
| Median of 5 other Abrasives & Bearings companies | +1.3% |
| Companies with slower revenue growth than Grindwell Norton | 3 of 5 |
| Companies with faster revenue growth than Grindwell Norton | 2 of 5 |
| Companies whose net profit rose | 2 of 5 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Grindwell Norton's revenue in Q4 FY25?
Revenue from operations was ₹709.51 crore, up 2.7% from ₹691.08 crore in Q4 FY24 (consolidated).
Did Grindwell Norton make a profit in Q4 FY25?
Yes. Net profit was ₹92.84 crore, against a net profit of ₹92.68 crore in Q4 FY24.
What was Grindwell Norton's EPS in Q4 FY25?
Basic earnings per share were ₹8.36, against ₹8.36 in Q4 FY24.
How did Grindwell Norton shares react to the Q4 FY25 results?
On the reaction day the stock moved +2.1% from the previous close; the median Abrasives & Bearings stock moved +2.2%.
When did Grindwell Norton announce its Q4 FY25 results?
On 9 May 2025, in a filing to the NSE.
Sources
- Board Meeting Intimation for Intimation Of Board Meeting For Approval Of Audited Financial Results Of The Company For The Quarter And Financial Year Ended March 31, 2025 (BSE, 28 April 2025) · PDF
- Dividend (NSE, 9 May 2025) · PDF
- General Updates (NSE, 9 May 2025) · PDF
- Shareholders meeting (NSE, 9 May 2025) · PDF
- Outcome of Board Meeting (NSE, 9 May 2025) · PDF
- Dividend (NSE, 9 May 2025) · PDF
- Outcome of Board Meeting (NSE, 10 May 2025) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
This is information, not investment advice. MarketPing does not recommend buying or selling any security.