Integrated Filing — IndAS

General information about company
Scrip Code	506076
NSE Symbol	GRINDWELL
MSEI Symbol	NOTLISTED
ISIN	INE536A01023
Name of company	GRINDWELL NORTON LIMITED
Type of company	Main Board
Class of security	Equity
Date of start of financial year	01-Apr-2024
Date of end of financial year	31-Mar-2025
Date of board meeting when results were approved	09-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	28-Apr-2025
Description of presentation currency	INR (in Actuals)
Reporting Type	Quarterly
Reporting Quarter	Fourth quarter
Nature of report standalone or consolidated	Standalone
Whether results are audited or unaudited for the quarter ended	Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended	Audited
Segment Reporting	Multi segment
Description of single segment
Start date and time of board meeting	09-May-2025   13:00:00
End date and time of board meeting	09-May-2025   15:15:00
Whether cash flow statement is applicable on company	Yes
Type of cash flow statement	Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification	Declaration of unmodified opinion
Whether the company has any related party?	Yes
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure?	Yes
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public	NA
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of banks staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure.	NA
Whether the company is a high value debt listed entity according to regulation 15 (1A)?	No
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication?
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company?	Yes
Latest Date on which RPT policy is updated	2025-02-13
Indicate Company website link for updated RPT policy of the Company	https://www.grindwellnorton.co.in/
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter?	No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity?	No
Not applicable to the Company.

Financial Results Ind-AS
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1	Income
	Revenue from operations	6912340000	27373643000
	Other income	227417000	798597000
	Total income	7139757000	28172240000
2	Expenses
(a)	Cost of materials consumed	2159844000	8798626000
(b)	Purchases of stock-in-trade	821970000	3468751000
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	219956000	269980000
(d)	Employee benefit expense	816280000	3337742000
(e)	Finance costs	23154000	86480000
(f)	Depreciation, depletion and amortisation expense	240520000	899121000
(f)	Other Expenses
1	Other Expenses	1665574000	6525112000
	Total other expenses	1665574000	6525112000
	Total expenses	5947298000	23385812000
3	Total profit before exceptional items and tax	1192459000	4786428000
4	Exceptional items	0	0
5	Total profit before tax	1192459000	4786428000
6	Tax expense
7	Current tax	263968000	1142145000
8	Deferred tax	15213000	35977000
9	Total tax expenses	279181000	1178122000
10	Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement	0	0
11	Net Profit Loss for the period from continuing operations	913278000	3608306000
12	Profit (loss) from discontinued operations before tax	0	0
13	Tax expense of discontinued operations	0	0
14	Net profit (loss) from discontinued operation after tax	0	0
15	Share of profit (loss) of associates and joint ventures accounted for using equity method	0	0
16	Total profit (loss) for period	913278000	3608306000
17	Other comprehensive income net of taxes	-28536000	176282000
18	Total Comprehensive Income for the period	884742000	3784588000
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent
	Total profit or loss, attributable to non-controlling interests
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent
	Total comprehensive income for the period attributable to owners of parent non-controlling interests
21	Details of equity share capital
	Paid-up equity share capital	553600000	553600000
	Face value of equity share capital	5	5
27	Details of debt securities
22	Reserves excluding revaluation reserve		28146448000
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	8.25	32.59
	Diluted earnings (loss) per share from continuing operations	8.25	32.59
ii	Earnings per equity share for discontinued operations
	Basic earnings (loss) per share from discontinued operations	0	0
	Diluted earnings (loss) per share from discontinued operations	0	0
ii	Earnings per equity share
	Basic earnings (loss) per share from continuing and discontinued operations	8.25	32.59
	Diluted earnings (loss) per share from continuing and discontinued operations	8.25	32.59
24	Debt equity ratio
25	Debt service coverage ratio
26	Interest service coverage ratio
27	Disclosure of notes on financial results		1.The Standalone Financial Results for the quarter and year ended March 31, 2025, standalone financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on May 09, 2025. These standalone financial results have been subject to an audit by the statutory auditor of Grindwell Norton Limited the Company, who have expressed an unmodified opinion thereon. These standalone financial results are prepared and published in accordance with Regulation 33 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, as amended. n n2.The standalone financial results are prepared in accordance with the recognition and measurement principles of Indian Accounting Standards Ind AS, as amended, prescribed under Section 133 of the Companies Act. 2013, read with relevant Rules issued thereunder and the other accounting principles generally accepted in India. n n3.The figures for the quarters ended March 31, 2025 and March 31, 2024 are the balancing figures between audited figures for the full financial year and the published year to date figures upto third quarter of the respective financial years. n n4.The Company had executed a Share Sale and Purchase Agreement with Shinagawa Refractories Co. Ltd. Japan, and SG Shinagawa Refractories India Private Limited for the sale of 49 percent of its equity stake held in SG Shinagawa Refractories India Private Limited on October 26. 2023, for a consideration of, Rs. 807.00 Lakhs. The Company had accounted for the loss on sale of investment of, Rs. 319.58 Lakhs as an exceptional item in the standalone financial results for the year ended March 31, 2024. n n5.The Segment wise information as required under Regulation 33 of SEBI listing Obligations and Disclosure Requirements Regulations, 2015, as amended, is furnished in Annexure I. n n6. The Standalone Statement of Assets and Liabilities as at March 31 , 2025, is attached herewith as Annexure II. n n7.The Standalone Statement of Cash Flows for the year ended March 31, 2025, has been prepared under the indirect method as set out in Ind AS 7 on the Statement of Cash Flows and is attached herewith as Annexure III. n n8. Dividend of, Rs. 17 per equity share of Rs. 5 each. has been recommended by the Board of Directors, in their Board meeting held on May 9, 2025, which is subject to the approval of shareholders at the ensuing Annual General Meeting. n n9.The standalone financial results are available on the BSE Limited website, www.bseindia.com, National Stock Exchange of India Limited website, www.nseindia.com and on the Companys website. www.grindwellnorton.co.in.

Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio

Statement of Asset and Liabilities
Particulars		Year ended (dd-mm-yyyy)
Date of start of reporting period		01-Apr-2024
Date of end of reporting period		31-Mar-2025
Whether results are audited or unaudited		Audited
Nature of report standalone or consolidated		Standalone
	Assets
1	Non-current assets
	Property, plant and equipment	7674298000
	Capital work-in-progress	252424000
	Investment property	0
	Goodwill	467866000
	Other intangible assets	467000000
	Intangible assets under development	6135000
	Biological assets other than bearer plants	0
	Investments accounted for using equity method	0
	Non-current financial assets
	Non-current investments	2955276000
	Trade receivables, non-current	0
	Loans, non-current	129379000
	Other non-current financial assets	207746000
	Total non-current financial assets	3292401000
	Deferred tax assets (net)
	Other non-current assets	229107000
	Total non-current assets	12389231000
2	Current assets
	Inventories	4653478000
	Current financial asset
	Current investments	6158637000
	Trade receivables, current	3556252000
	Cash and cash equivalents	696831000
	Bank balance other than cash and cash equivalents	1933639000
	Loans, current	16015000
	Other current financial assets	289583000
	Total current financial assets	12650957000
	Current tax assets (net)	84559000
	Other current assets	406399000
	Total current assets	17795393000
3	Non-current assets classified as held for sale	0
4	Regulatory deferral account debit balances and related deferred tax Assets	0
	Total assets	30184624000
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	553600000
	Other equity	21879982000
	Total equity attributable to owners of parent	22433582000
	Non controlling interest
	Total equity	22433582000
2	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	10119000
	Trade payables, non-current
	(A) Total outstanding dues of micro enterprises and small enterprises	0
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	0
	Total Trade payable	0
	Other non-current financial liabilities	590729000
	Total non-current financial liabilities	600848000
	Provisions, non-current	501733000
	Deferred tax liabilities (net)	363775000
	Deferred government grants, Non-current	0
	Other non-current liabilities	42241000
	Total non-current liabilities	1508597000
	Current liabilities
	Current financial liabilities
	Borrowings, current	19433000
	Trade payables, current
	(A) Total outstanding dues of micro enterprises and small enterprises	148508000
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	4054469000
	Total Trade payable	4202977000
	Other current financial liabilities	1131546000
	Total current financial liabilities	5353956000
	Other current liabilities	514379000
	Provisions, current	286418000
	Current tax liabilities (Net)	87692000
	Deferred government grants, Current	0
	Total current liabilities	6242445000
3	Liabilities directly associated with assets in disposal group classified as held for sale	0
4	Regulatory deferral account credit balances and related deferred tax liability	0
	Total liabilities	7751042000
	Total equity and liabilites	30184624000
	Disclosure of notes on assets and liabilities

Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars		3 months/ 6 month ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period		01-Jan-2025	01-Apr-2024
Date of end of reporting period		31-Mar-2025	31-Mar-2025
Whether accounts are audited or unaudited		Audited	Audited
Nature of report standalone or consolidated		Standalone	Standalone
1	Segment Revenue (Income)
	(net sale/income from each segment should be disclosed)
1	Abrasives	3599448000	14025127000
2	Ceramics and Plastics	2717206000	11065897000
3	Digital Services	480161000	1840991000
4	Others	144591000	540771000
	Total Segment Revenue	6941406000	27472786000
	Less: Inter segment revenue	29066000	29066000
	Revenue from operations	6912340000	27373643000
2	Segment Result
	Profit (+) / Loss (-) before tax and interest from each segment
1	Abrasives	482169000	1813544000
2	Ceramics and Plastics	467152000	1866205000
3	Digital Services	114266000	489622000
4	Others	26650000	93691000
	Total Profit before tax	1090237000	4263062000
	i. Finance cost	23154000	23154000
	ii. Other Unallocable Expenditure net off Unallocable income	-125376000	-125376000
	Profit before tax	1192459000	4786428000
3	(Segment Asset - Segment Liabilities)
	Segment Asset
1	Abrasives	7622235000	7622235000
2	Ceramics and Plastics	8492421000	8492421000
3	Digital Services	1353638000	1353638000
4	Others	392678000	392678000
	Total Segment Asset	17860972000	17860972000
	Un-allocable Assets	12323652000	12323652000
	Net Segment Asset	30184624000	30184624000
4	Segment Liabilities
	Segment Liabilities
1	Abrasives	3008972000	3008972000
2	Ceramics and Plastics	2764481000	2764481000
3	Digital Services	993144000	993144000
4	Others	206772000	206772000
	Total Segment Liabilities	6973369000	6973369000
	Un-allocable Liabilities	777673000	777673000
	Net Segment Liabilities	7751042000	7751042000
	Disclosure of notes on segments

Other Comprehensive Income
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
1	Remeasurement of post employment benefits obligations - Gain/(loss)	-57507000	-57507000
2	Change in fair value of equity instruments at Fair Value through Other Comprehensive Income (FVOCI) - Gain	75123000	326123000
	Total Amount of items that will not be reclassified to profit and loss	17616000	268616000
2	Income tax relating to items that will not be reclassified to profit or loss	46152000	92334000
3	Amount of items that will be reclassified to profit and loss
	Total Amount of items that will be reclassified to profit and loss
4	Income tax relating to items that will be reclassified to profit or loss
5	Total Other comprehensive income	-28536000	176282000

Cash flow statement, indirect
Particulars				Year ended (dd-mm-yyyy)
A	Date of start of reporting period			2024-04-01
B	Date of end of reporting period			2025-03-31
C	Whether results are audited or unaudited			Audited
D	Nature of report standalone or consolidated			Standalone
Part I	Blue color marked fields are non-mandatory.
	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax			4786428000
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs			86480000
	Adjustments for decrease (increase) in inventories			87673000
	Adjustments for decrease (increase) in trade receivables, current			-53205000
	Adjustments for decrease (increase) in trade receivables, non-current			0
	Adjustments for decrease (increase) in other current assets			26742000
	Adjustments for decrease (increase) in other non-current assets			-6821000
	Adjustments for other financial assets, non-current			0
	Adjustments for other financial assets, current			-155688000
	Adjustments for other bank balances			0
	Adjustments for increase (decrease) in trade payables, current			577288000
	Adjustments for increase (decrease) in trade payables, non-current			0
	Adjustments for increase (decrease) in other current liabilities			37874000
	Adjustments for increase (decrease) in other non-current liabilities			39138000
	Adjustments for depreciation and amortisation expense			899121000
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss			0
	Adjustments for provisions, current			-114750000
	Adjustments for provisions, non-current			0
	Adjustments for other financial liabilities, current			35966000
	Adjustments for other financial liabilities, non-current			0
	Adjustments for unrealised foreign exchange losses gains			3990000
	Adjustments for dividend income			0
	Adjustments for interest income			143736000
	Adjustments for share-based payments			20773000
	Adjustments for fair value losses (gains)			-51540000
	Adjustments for undistributed profits of associates			0
	Other adjustments for which cash effects are investing or financing cash flow			-324221000
	Other adjustments to reconcile profit (loss)			28060000
	Other adjustments for non-cash items			11149000
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships			0
	Total adjustments for reconcile profit (loss)			1004293000
	Net cash flows from (used in) operations			5790721000
	Dividends received			-117566000
	Interest paid			0
	Interest received			0
	Income taxes paid (refund)			1143877000
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) operating activities			4529278000
	Cash flows from used in investing activities
	Cash flows from losing control of subsidiaries or other businesses			0
	Cash flows used in obtaining control of subsidiaries or other businesses			0
	Other cash receipts from sales of equity or debt instruments of other entities			0
	Other cash payments to acquire equity or debt instruments of other entities			0
	Other cash receipts from sales of interests in joint ventures			0
	Other cash payments to acquire interests in joint ventures			0
	Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships			0
	Cash payment for investment in partnership firm or association of persons or limited liability partnerships			0
	Proceeds from sales of property, plant and equipment			0
	Purchase of property, plant and equipment			931664000
	Proceeds from sales of investment property			11119000
	Purchase of investment property			0
	Proceeds from sales of intangible assets			0
	Purchase of intangible assets			0
	Proceeds from sales of intangible assets under development			0
	Purchase of intangible assets under development			0
	Proceeds from sales of goodwill			0
	Purchase of goodwill			0
	Proceeds from biological assets other than bearer plants			0
	Purchase of biological assets other than bearer plants			0
	Proceeds from government grants			0
	Proceeds from sales of other long-term assets			0
	Purchase of other long-term assets			0
	Cash advances and loans made to other parties			0
	Cash receipts from repayment of advances and loans made to other parties			0
	Cash payments for future contracts, forward contracts, option contracts and swap contracts			0
	Cash receipts from future contracts, forward contracts, option contracts and swap contracts			0
	Dividends received			117566000
	Interest received			145885000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			-1467882000
	Net cash flows from (used in) investing activities	-2124976000
	Cash flows from used in financing activities
	Proceeds from changes in ownership interests in subsidiaries			0
	Payments from changes in ownership interests in subsidiaries			0
	Proceeds from issuing shares			0
	Proceeds from issuing other equity instruments			0
	Payments to acquire or redeem entity's shares			0
	Payments of other equity instruments			0
	Proceeds from exercise of stock options			0
	Proceeds from issuing debentures notes bonds etc			0
	Proceeds from borrowings			17095000
	Repayments of borrowings			101162000
	Payments of lease liabilities			139166000
	Dividends paid			1882240000
	Interest paid			86481000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) financing activities			-2191954000
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes			212348000
	Effect of exchange rate changes on cash and cash equivalents
	Effect of exchange rate changes on cash and cash equivalents			0
	Net increase (decrease) in cash and cash equivalents			212348000
	Cash and cash equivalents cash flow statement at beginning of period			484483000
	Cash and cash equivalents cash flow statement at end of period			696831000