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% |
