Grindwell Norton Ltd. News and Updates

Name: Latest research reports of Grindwell Norton Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: Grindwell Norton Ltd.
Rating: 3
Author: ICICI Securities Limited

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Grindwell Norton Ltd.

30 Oct 2020

1773.80

-1.14%

Grindwell Norto Consolidated September 2020 Net Sales at Rs 439.04 crore, up 11.91% Y-o-Y

Moneycontrol

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Grindwell Norton Ltd. is trading above its 150 day SMA of 1744.8

Grindwell Norton Ltd.

26 May 2020

1773.80

-1.14%

Hold Grindwell Norton; target of Rs 550: ICICI Direct

Moneycontrol

ICICI Direct recommended hold rating on Grindwell Norton with a target price of Rs 550 in its research report dated May 25, 2020.

Grindwell Norton Ltd. has lost -31.83% in the last 1 Year

Grindwell Norton Ltd.

25 May 2020

1773.80

-1.14%

Grindwell Norton

Hold: Grindwell Norton Ltd.

Recommendation Target

ICICI Securities Limited

Topline growth of 9.7% YoY was primarily dragged by abrasives segment, which de-grew 13.4% to | 219.4 crore YoY. Ceramics and plastic segment de-grew 5.6% to | 114.6 crore YoY while new initiatives segment posted growth of 5.6% to | 36.3 crore YoY This segment contributed 33.4% to the topline. Abrasives segment grew 6.6% YoY, contributing 59.3% to the overall topline. EBIT margins of the abrasive segment came in at 9.5% (vs. 13.9% YoY). Margins of ceramics and plastic segment were at 15.0% (vs. 15.5% YoY) while for new initiative segment EBIT margin was at 28.4% (vs....

Grindwell Norton Ltd. has lost -31.83% in the last 1 Year

Grindwell Norton Ltd.

21 May 2020, 09:13AM

1773.80

-1.14%

Grindwell Norto Consolidated March 2020 Net Sales at Rs 365.88 crore, down 9.74% Y-o-Y

Moneycontrol

NULL

Grindwell Norton Ltd. is trading below its 200 day SMA of 1865.2

Grindwell Norton Ltd.

12 Nov 2019

1773.80

-1.14%

Grindwell Norton Ltd: Ceramics & Plastics Business Shine; Abrasives Down

Hold: Grindwell Norton Ltd.

Target

Karvy

Grindwell Norton switched to new tax rate which led to expansion in earnings for Q2 by 29 percent to Rs.4.7

Grindwell Norton Ltd. is trading below its 200 day SMA of 1865.2

Grindwell Norton Ltd.

06 Aug 2019

1773.80

-1.14%

Grindwell Norton Ltd: 1Q Results in line; Ceramics & Plastics Business Shine

Hold: Grindwell Norton Ltd.

Karvy

Grindwell earnings for 1Q came in line with our estimates. Revenue grew by 7.9% YoY to Rs. 4.1 Bn on the back of 22% YoY growth in Ceramics & Plastics business (C&P;).

Grindwell Norton Ltd. has lost -31.83% in the last 1 Year

Grindwell Norton Ltd.

26 Jul 2019

1773.80

-1.14%

Grindwell Norton

Buy: Grindwell Norton Ltd.

Target

ICICI Securities Limited

Topline growth of 7.9% YoY was primarily driven by solid growth of 21.6% YoY in the ceramics & plastics segment coupled with robust EBIT margins of 17.0% (17.1% in Q1FY19). This segment contributed 33.4% to topline. Abrasives segment grew 6.6% YoY, contributing 59.3% to the overall topline. However, EBIT margins contracted 120 bps to 13.3% in the quarter. GNL witnessed higher input prices. The company imports over 50% of its raw material, majority of which comes from China and Europe. For FY2021E, the management intends to manage its operating margins via...

Grindwell Norton Ltd. is trading below its 200 day SMA of 1865.2

Grindwell Norton Ltd.

03 Jun 2019

1773.80

-1.14%

Grindwell Norton

Buy: Grindwell Norton Ltd.

Target

ICICI Securities Limited

Stable FY19 despite higher input and energy costs For FY19, Grindwell Norton (GNL) reported stable growth of 11.7% YoY in topline, led by healthy growth in ceramics, abrasives and plastics segment. The same grew 29.3% YoY, 9.2% YoY and 14.5% YoY, respectively. Plastics segment grew tepid this year, due to slower offtake in auto segment (~30% sales come from this segment). EBIT margin for abrasives, C&P; segment and others segment were at 13.8%, 15.2% and 23.5%, respectively. For FY19, GNL witnessed higher input prices, energy costs and foreign exchange...

Grindwell Norton Ltd. is trading above its 150 day SMA of 1744.8

Grindwell Norton Ltd.

05 Feb 2019

1773.80

-1.14%

Grindwell Norton

Buy: Grindwell Norton Ltd.

Target

ICICI Securities Limited

Grindwell Norton (GNL) reported weak Q3FY19 numbers, which were below our estimates. Revenues came in at | 394.8 crore, up 8% YoY, below our estimate of | 415 crore. Abrasives, ceramics and new initiatives' segment contributed ~59%, ~33% and ~8%, respectively EBITDA margins came in at 16.2% vs. 17.6% YoY. This was primarily due to a decline in gross margins by 200 bps YoY. Power & fuel expenses also increased 16.1% YoY. However, the same was partly offset by lower employee & other expenses, up 4.7% YoY and 5.4%...