717.20 12.00 (1.70%)
25,050 Volume
NSEJan 25, 2021 03:31 PM
The 2 reports from 1 analysts offering long term price targets for Grindwell Norton Ltd. have an average target of 600.00. The consensus estimate represents a downside of -16.34% from the last price of 717.20.
Summary | Date | Stock | Broker | Price at Reco. | Target | Price at reco Change since reco(%) | Upside(%) | Type | Report | Discuss |
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2020-11-02 | Grindwell Norton Ltd. + | ICICI Securities Limited | 552.60 | 600.00 | 552.60 (29.79%) | Target met | Hold | Grindwell Norton
ICICI Securities Limited
Grindwell Norton (GNL) reported decent Q2FY21 numbers across operational parameters owing to pent-up demand and revival in key sectors like automotive, industrial, construction, engineering amid unlock. Revenues were at | 439.0 crore, decent growth of 11.9% YoY. Abrasives, ceramics & new initiatives' segment contributed ~59%, ~32% & ~9%, respectively. Overall, EBITDA margins were at 21.3%, improving 470 bps YoY. This was primarily aided by a reduction in overall operating expenses and employee expenses. Gross margins were at 54.3% with a marginal decline of 40 bps...
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2020-05-25 | Grindwell Norton Ltd. + | ICICI Securities Limited | 524.25 | 550.00 | 524.25 (36.80%) | Target met | Hold | Grindwell Norton
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....
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2019-11-12 | Grindwell Norton Ltd. + | Karvy | 599.40 | 645.00 | 599.40 (19.65%) | Target met | Hold | |||
2019-08-06 | Grindwell Norton Ltd. + | Karvy | 545.45 | 570.00 | 545.45 (31.49%) | Target met | Hold | Grindwell Norton Ltd: 1Q Results in line; Ceramics & Plastics Business Shine
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;).
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2019-07-26 | Grindwell Norton Ltd. + | ICICI Securities Limited | 544.50 | 635.00 | 544.50 (31.72%) | Target met | Buy | Grindwell Norton
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...
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2019-06-03 | Grindwell Norton Ltd. + | ICICI Securities Limited | 584.20 | 680.00 | 584.20 (22.77%) | Target met | Buy | Grindwell Norton
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...
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2019-02-05 | Grindwell Norton Ltd. + | ICICI Securities Limited | 518.95 | 625.00 | 518.95 (38.20%) | Target met | Buy | Grindwell Norton
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%...
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2018-11-06 | Grindwell Norton Ltd. + | Karvy | 490.00 | 570.00 | 490.00 (46.37%) | Hold | Grindwell Norton Ltd: Grindwell Q2 Performance In-Line With Estimates
Karvy
Grindwell Q2 Performance In-Line With Estimates: Grindwell Norton revenue grew by 21% YoY basis to Rs. 4.2 bn on the back of double digit growth across all segments and earnings grew by 13% YoY basis to Rs. 3.67 in Q2, which is in-line with our estimates.
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2018-11-02 | Grindwell Norton Ltd. + | ICICI Securities Limited | 493.95 | 580.00 | 493.95 (45.20%) | Target met | Buy | Grindwell Norton
ICICI Securities Limited
Revenues came in at | 416.8 crore, up 21% YoY, below our estimates of | 395.5 crore. Abrasives, ceramics and new initiatives' segment contributed 62%, 31% and 8.5%, respectively Increased contribution from higher margin segments like ceramics and new initiatives' segment led to a strong operational performance with GNL reporting 17% EBITDA margins (vs. 16.8% in Q2FY18) for the quarter. Gross margins fell 290 bps due to cost pressure in abrasives segment of the business. Employee expenses rose only...
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2018-08-08 | Grindwell Norton Ltd. + | Karvy | 505.00 | 570.00 | 505.00 (42.02%) | Target met | Hold | Grindwell Norton Ltd: Growth and Profitability Improve in Q1
Karvy
Growth and Profitability Improve in Q1: Grindwell Norton (Grindwell) revenue grew by 13% to Rs. 3.8 bn on the back of strong growth on account of several new initiatives and ceramics segment (~ 12%), while abrasives segment de-grew by 5% in Q1.
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2018-07-26 | Grindwell Norton Ltd. + | ICICI Securities Limited | 509.95 | 580.00 | 509.95 (40.64%) | Target met | Buy | Grindwell Norton
ICICI Securities Limited
ICICI Securities Ltd | Retail Equity Research Grindwell Norton (GNL) reported strong Q1FY19 numbers, which were above our estimates on the operational front Revenues came in at | 381.1 crore, up 12.9% YoY, slightly below our estimates of | 387.3 crore. Abrasives, ceramics and new initiatives' segment contributed 60%, 12.5% and 29.4%, respectively Increased contribution from higher margin segments like ceramics and new initiatives' segment led to a strong operational performance...
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2018-06-07 | Grindwell Norton Ltd. + | Karvy | 496.15 | 574.00 | 496.15 (44.55%) | Target met | Buy | Grindwell Norton Ltd: Robust Performance in Q4FY18
Karvy
Robust Performance in Q4FY18 : Grindwell Norton (GWN) revenue grew by 18% to Rs. 3.8 bn on the back of stronggrowth on account of several new initiatives in the Ceramics & Plastics (C&P) division, while Abrasives segment growth was flat in Q4FY18. Earnings for the quarter grew by 30% YoY to Rs. 0.44 bn largely on account of product mix.
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2018-06-04 | Grindwell Norton Ltd. + | ICICI Securities Limited | 498.00 | 560.00 | 498.00 (44.02%) | Target met | Buy | Grindwell Norton
ICICI Securities Limited
Revenues came in strong at | 383.5 crore, up 17.5% YoY, above our estimate of | 374.8 crore. This was on account of the better performance in ceramics and new initiatives' segment. These segments grew 16.8% and 42.1%, respectively. New initiatives segment contributed 9.3% to the topline EBITDA margins came in at 18.9% vs. 16.2% in Q4FY17 (our estimate: 15.9%). This was due to improving utilisation in all three segments. Gross margins dropped 240 bps YoY. However, employee...
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2018-02-12 | Grindwell Norton Ltd. + | Karvy | 505.00 | 586.00 | 505.00 (42.02%) | Target met | Buy | Grindwell Norton Ltd (Feb 12, 2018)
Karvy
Revenue grew by 16% on the back of strong growth in Ceramics and Plastics division (+24%) and earnings grew even faster at 45% in Q2FY18, due to margin improvement across segments in Q3FY17. We believe earnings to expand by20% CARG in next two years on the account revival in economic activity and GDP growth crossing 7.5% in FY19-FY20, market share gain from unorganised market for consumables and strong traction for new product lines in market.
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2018-02-05 | Grindwell Norton Ltd. + | ICICI Securities Limited | 500.00 | 560.00 | 500.00 (43.44%) | Target met | Buy | Grindwell Norton
ICICI Securities Limited
ICICI Securities Ltd | Retail Equity Research Grindwell Norton (GNL) reported strong Q3FY18 numbers, which were above our estimates on the EBITDA and PAT front. This was mostly on account of strong growth of 24.3% YoY in the ceramics segment coupled with strong EBIT margins of 15% (9.5% in Q3FY17). The abrasives segment contributed 61% of topline while the ceramics segment contributed 29% to the topline Revenues came in at | 365.4 crore, up 16.2% YoY, in line with our...
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2017-11-02 | Grindwell Norton Ltd. + | ICICI Securities Limited | 484.00 | 525.00 | 484.00 (48.18%) | Target met | Hold | Grindwell Norton
ICICI Securities Limited
ICICI Securities Ltd | Retail Equity Research Grindwell Norton (GNL) reported strong Q2FY18 numbers, which were above our estimates. This was mostly on account of higher growth of 14.9% YoY in the ceramics segment (our estimate 12% YoY) coupled with strong EBIT margins of 13.8% (9% in Q2FY17). The abrasives segment contributed 62% of topline while the ceramics segment contributed ~30% to the topline Revenues came in at | 344.4 crore up 10.6% YoY, above our...
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2017-07-27 | Grindwell Norton Ltd. + | ICICI Securities Limited | 422.60 | 500.00 | 422.60 (69.71%) | Target met | Buy | Grindwell Norton
ICICI Securities Limited
ICICI Securities Ltd | Retail Equity Research Grindwell Norton's (GNL) reported Q1FY18 results, which were below our estimates. This was mostly on account of weak growth of 2.6% YoY in the abrasives segment (our estimate 10% YoY). The abrasives segment contributed ~64% of topline, while the Ceramics & Plastics segment contributed ~28% to the topline. Revenues came in at | 337.7 crore up 8.5% YoY, marginally below our estimates of | 343.1 crore. Abrasives segment grew 2.6% YoY, |...
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2017-07-27 | Grindwell Norton Ltd. + | Karvy | 422.60 | 422.60 (69.71%) | Strategy Note | Grindwell Norton Ltd: Revenues Grew; Cost Pressure Impacted ... (Jul 27, 2017)
Karvy
Revenues Grew; Cost Pressure Impacted Margin Expansion in Q1FY18: Revenue (net) grew by 8.6% and 9.1% on YoY basis at consolidated and standalone level respectively during Q1FY18.Abrasives segment posted YoY growth of 2.6% in Q1FY18 while the same for Ceramics & plastics came in at 18.0%. Weakness in Ceramics & Plastics segment at subsidiaries level contracted YoY revenue growth to the extent of 13.1% compared to same period last year.
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2017-06-01 | Grindwell Norton Ltd. + | ICICI Securities Limited | 394.30 | 460.00 | 394.30 (81.89%) | Target met | Buy | |||
2017-02-03 | Grindwell Norton Ltd. + | ICICI Securities Limited | 323.00 | 390.00 | 323.00 (122.04%) | Target met | Buy | Grindwell Norton
ICICI Securities Limited
ICICI Securities Ltd | Retail Equity Research Grindwell Norton's (GNL) Q3FY17 numbers were above our estimates. Revenues came in at | 314.4 crore (adjusted for Ind-As), up 12% YoY, and above our estimates of | 301.4 crore Abrasives segment comprised ~65% of the topline while the ceramics & plastics segment contributed 25% to the topline. Abrasives segment grew 16.9% YoY, | 218.6 crore in Q3FY17 vs. | 186.7 crore in Q3FY16. Ceramics & plastics segment grew 17.9%...
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