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Written by 7:49 am Sustainable Manufacturing

Grindwell Norton Q2 Results Live: Profit Falls by 5.6% YOY

Grindwell Norton Q2 Results Live : Grindwell Norton declared their Q2 results on 30 Oct, 2024, revealing a mixed performance for the quarter. The company’s topline increased by 3.97% year-on-year, however, profits took a hit, decreasing by 5.6% compared to the previous year.

In comparison to the previous quarter, Grindwell Norton experienced a slight decline in revenue, which fell by 1.66%. Despite this, the profit saw a modest increase of 3.22% quarter-on-quarter, indicating some resilience in the company’s performance.

The financial results also highlighted a reduction in selling, general, and administrative expenses, which declined by 8% on a quarterly basis but saw an increase of 5.5% year-on-year. This suggests that while the company is managing costs effectively in the short term, there are longer-term challenges to address.

Operating income for Grindwell Norton decreased by 4.73% quarter-on-quarter and fell by 7.06% year-on-year, reflecting pressures on profitability amidst rising costs in certain areas.

Earnings per share (EPS) for Q2 was reported at 8.69, marking a decline of 5.54% year-on-year. This drop in EPS indicates that shareholders may face challenges in returns as the company navigates its financial landscape.

Market performance for Grindwell Norton has been lackluster, with a return of -5.51% in the last week, -7.63% year-to-date, and a modest gain of 1.16% over the last six months. The company’s current market capitalization stands at 23819.19 Cr, with a 52-week high of 2960 and a low of 1875.2.

Among analysts covering Grindwell Norton, as of 31 Oct, 2024, there is a divided outlook: 2 analysts recommend a ‘Sell’, 2 suggest a ‘Hold’, and 1 gives a ‘Buy’ rating. The consensus recommendation is to ‘Hold’, reflecting a cautious stance as the company adjusts to its recent performance.

Grindwell Norton Financials

Period Q2 Q1 Q-o-Q Growth Q2 Y-o-Y Growth
Total Revenue 693.87 705.6 -1.66% 667.4 +3.97%
Selling/ General/ Admin Expenses Total 82.5 89.67 -8% 78.2 +5.5%
Depreciation/ Amortization 22.82 21.44 +6.44% 16.92 +34.87%
Total Operating Expense 587.45 593.9 -1.09% 552.89 +6.25%
Operating Income 106.42 111.7 -4.73% 114.51 -7.06%
Net Income Before Taxes 127.51 125.41 +1.67% 135.4 -5.83%
Net Income 96.18 93.18 +3.22% 101.89 -5.6%
Diluted Normalized EPS 8.69 8.42 +3.21% 9.2 -5.54%
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