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	Consolidated
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

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	Consolidated	Consolidated
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	7095123000	28115898000
	Other income	227417000	798776000
	Total income	7322540000	28914674000
2	Expenses
(a)	Cost of materials consumed	2191230000	9049293000
(b)	Purchases of stock-in-trade	821970000	3468751000
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	247684000	242374000
(d)	Employee benefit expense	825675000	3369950000
(e)	Finance costs	24986000	93471000
(f)	Depreciation, depletion and amortisation expense	248894000	926454000
(f)	Other Expenses
1	Other Expenses	1735387000	6854155000
	Total other expenses	1735387000	6854155000
	Total expenses	6095826000	24004448000
3	Total profit before exceptional items and tax	1226714000	4910226000
4	Exceptional items	0	0
5	Total profit before tax	1226714000	4910226000
6	Tax expense
7	Current tax	274769000	1152946000
8	Deferred tax	25804000	54020000
9	Total tax expenses	300573000	1206966000
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	926141000	3703260000
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	2245000	9408000
16	Total profit (loss) for period	928386000	3712668000
17	Other comprehensive income net of taxes	-28340000	176478000
18	Total Comprehensive Income for the period	900046000	3889146000
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent	925398000	3687213000
	Total profit or loss, attributable to non-controlling interests	2988000	2988000
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent	890798000	3863691000
	Total comprehensive income for the period attributable to owners of parent non-controlling interests	2988000	25455000
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		22108329000
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	8.36	33.3
	Diluted earnings (loss) per share from continuing operations	8.36	33.3
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	8.36	33.3
	Diluted earnings (loss) per share from continuing and discontinued operations	8.36	33.3
24	Debt equity ratio
25	Debt service coverage ratio
26	Interest service coverage ratio
27	Disclosure of notes on financial results		1. The Consolidated Flnancial Resutts for the quarter and year ended March 31, 2025, consolidated 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 consolidated financial results have been subject to an audit by the statutory auditor of Grindweli Norton Limited the Parent Company, the Company. who have expressed an unmodified opinion thereon. These consolidated 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 consolidated 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. 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 pubhshed year to date figures upto third quarter of the respective financial years. n n4.The above consolidated financial results have been prepared in accordance with Ind AS 110 Consolidated Finano,al Statements. The consolidated financial results consist of the results of the Parent Company, its Subsidiary, namely Saint Gobain Ceramic Materials Bhutan Private limited, Joint Venture entities n SG Shlnagawa Refractories India Private Limited upto November 30, 2023 and Advanced Synthetic Minerals Private Limited from January 24, 2024. The Company also has an Associate Cleanwin Energy Three LLP, where as per the current contractual terms, the Company is not entttled for any share of Profit or Loss, The unaudited consolidated financial results of a Subsidiary and a Joint Venture entity, duly certified by the Management, have been considered whilst preparing these consolidated financial results for the year ended March 31, 2025. n n5.Key numbers of standalone financial result.s of the Company are as under n nParticulars Quarter ended Year ended n 31 03 2025 31 12 2024 31 03 2024 31 03 2025 31 03 2024 n Refer Note 3 Unaudited Refer Note 3 Audited Audited nTotal Income 71,397.57 70,115.99 69,874.48 2,81,722.40 2,71,998.98 nProfit before tax 11,924.59 11,173.89 12,154.24 47,864.28 50,483.01 nNet Profit for the period 9,132.78 8,355.42 9,350.16 36,083.06 38,071.69 n n6. 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 and had accounted for the loss on sale of investment of Rs. 35.25 Lakhs as an exceptional item in the consolidated financial results for the year ended March 31, 2024. n n7.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 n8. The Consolidated Statement of Assets and Liabiltties as at March 31, 2025, is attached herewith as Annexure II. n n9. The Consolidated Statement of Cash Flows for the year ended March 31, 2025, has been prepared under the indirect method as set out in tnd AS 7 on the Statement of Cash Flows is attached herewith as Annexure III. n n10.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 n11.The consolidated financial results are available on the BSE Limited website, www.bseindia.com, National Stock Exchange of India Limited website,www.nselndia.com and on the Company's 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		Consolidated
	Assets
1	Non-current assets
	Property, plant and equipment	7922378000
	Capital work-in-progress	254167000
	Investment property	0
	Goodwill	467866000
	Other intangible assets	467000000
	Intangible assets under development	6135000
	Biological assets other than bearer plants
	Investments accounted for using equity method	156088000
	Non-current financial assets
	Non-current investments	2600340000
	Trade receivables, non-current	0
	Loans, non-current	129379000
	Other non-current financial assets	209666000
	Total non-current financial assets	2939385000
	Deferred tax assets (net)	22054000
	Other non-current assets	229205000
	Total non-current assets	12464278000
2	Current assets
	Inventories	4898797000
	Current financial asset
	Current investments	6158637000
	Trade receivables, current	3624253000
	Cash and cash equivalents	712761000
	Bank balance other than cash and cash equivalents	1933639000
	Loans, current	16015000
	Other current financial assets	263397000
	Total current financial assets	12708702000
	Current tax assets (net)	84559000
	Other current assets	411610000
	Total current assets	18103668000
3	Non-current assets classified as held for sale	0
4	Regulatory deferral account debit balances and related deferred tax Assets	0
	Total assets	30567946000
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	553600000
	Other equity	22001373000
	Total equity attributable to owners of parent	22554973000
	Non controlling interest	140490000
	Total equity	22695463000
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	596566000
	Total non-current financial liabilities	606685000
	Provisions, non-current	501977000
	Deferred tax liabilities (net)	363775000
	Deferred government grants, Non-current	0
	Other non-current liabilities	42241000
	Total non-current liabilities	1514678000
	Current liabilities
	Current financial liabilities
	Borrowings, current	63114000
	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	4104341000
	Total Trade payable	4252849000
	Other current financial liabilities	1139993000
	Total current financial liabilities	5455956000
	Other current liabilities	516508000
	Provisions, current	286949000
	Current tax liabilities (Net)	98392000
	Deferred government grants, Current	0
	Total current liabilities	6357805000
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	7872483000
	Total equity and liabilites	30567946000
	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		Consolidated	Consolidated
1	Segment Revenue (Income)
	(net sale/income from each segment should be disclosed)
1	Abrasives	3599448000	14025127000
2	Ceramics & Plastics	2924441000	11887120000
3	Digital Services	480161000	1840991000
4	Others	144591000	540771000
	Total Segment Revenue	7148641000	28294009000
	Less: Inter segment revenue	53518000	53518000
	Revenue from operations	7095123000	28115898000
2	Segment Result
	Profit (+) / Loss (-) before tax and interest from each segment
1	Abrasives	482169000	1813544000
2	Ceramics & Plastics	505484000	2006402000
3	Digital Services	114266000	489622000
4	Others	26650000	93691000
	Total Profit before tax	1128569000	4403259000
	i. Finance cost	24986000	24986000
	ii. Other Unallocable Expenditure net off Unallocable income	-125376000	-125376000
	Profit before tax	1228959000	4919634000
3	(Segment Asset - Segment Liabilities)
	Segment Asset
1	Abrasives	7622235000	7622235000
2	Ceramics & Plastics	8875743000	8875743000
3	Digital Services	1353638000	1353638000
4	Others	392678000	392678000
	Total Segment Asset	18244294000	18244294000
	Un-allocable Assets	12323652000	12323652000
	Net Segment Asset	30567946000	30567946000
4	Segment Liabilities
	Segment Liabilities
1	Abrasives	3008972000	3008972000
2	Ceramics & Plastics	2885922000	2885922000
3	Digital Services	993144000	993144000
4	Others	206772000	206772000
	Total Segment Liabilities	7094810000	7094810000
	Un-allocable Liabilities	777673000	777673000
	Net Segment Liabilities	7872483000	7872483000
	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	Consolidated	Consolidated
	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)	-57311000	-57311000
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	17812000	268812000
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	-28340000	176478000

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			Consolidated
Part I	Blue color marked fields are non-mandatory.
	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax			4910226000
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs			93471000
	Adjustments for decrease (increase) in inventories			-22747000
	Adjustments for decrease (increase) in trade receivables, current			-71911000
	Adjustments for decrease (increase) in trade receivables, non-current			0
	Adjustments for decrease (increase) in other current assets			37335000
	Adjustments for decrease (increase) in other non-current assets			-6821000
	Adjustments for other financial assets, non-current			0
	Adjustments for other financial assets, current			-152783000
	Adjustments for other bank balances			0
	Adjustments for increase (decrease) in trade payables, current			619628000
	Adjustments for increase (decrease) in trade payables, non-current			0
	Adjustments for increase (decrease) in other current liabilities			36542000
	Adjustments for increase (decrease) in other non-current liabilities			39138000
	Adjustments for depreciation and amortisation expense			926454000
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss			0
	Adjustments for provisions, current			-115671000
	Adjustments for provisions, non-current			0
	Adjustments for other financial liabilities, current			9476000
	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			143757000
	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)			27751000
	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)			936256000
	Net cash flows from (used in) operations			5846482000
	Dividends received			-117566000
	Interest paid			0
	Interest received			0
	Income taxes paid (refund)			1143977000
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) operating activities			4584939000
	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			17592000
	Purchase of property, plant and equipment			940645000
	Proceeds from sales of investment property			0
	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			145906000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			-1467882000
	Net cash flows from (used in) investing activities	-2127463000
	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			17096000
	Repayments of borrowings			101162000
	Payments of lease liabilities			152749000
	Dividends paid			1882240000
	Interest paid			93472000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			-23231000
	Net cash flows from (used in) financing activities			-2235758000
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes			221718000
	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			221718000
	Cash and cash equivalents cash flow statement at beginning of period			491043000
	Cash and cash equivalents cash flow statement at end of period			712761000