Buy Grindwell Norton, target price Rs 2604: Prabhudas Lilladher

Grindwell Norton Ltd., incorporated in the year 1950, is a Mid Cap company (having a market cap of Rs 23356.38 Crore) operating in Industrial Consumables sector.

By ETMarkets.com | Nov 09, 2023, 10.40 AM IST

Promoters held 58.03 per cent stake in the company as of 30-Sep-2023, while FIIs owned 8.4 per cent, DIIs 15.31 per cent.

Prabhudas Lilladher has buy call on Grindwell Norton Ltd. with a target price of Rs 2604. The current market price of Grindwell Norton Ltd. is Rs 2095.05.

Grindwell Norton Ltd., incorporated in the year 1950, is a Mid Cap company (having a market cap of Rs 23356.38 Crore) operating in Industrial Consumables sector.

Grindwell Norton Ltd. key Products/Revenue Segments include Abrasives, Ceramics & Plastics, Service Income, Others, Other Operating Revenue for the year ending 31-Mar-2023.

Financials
For the quarter ended 30-09-2023, the company reported a Consolidated Total Income of Rs 689.99 Crore, up 1.03 % from last quarter Total Income of Rs 682.95 Crore and up 6.21 % from last year same quarter Total Income of Rs 649.64 Crore. Company reported net profit after tax of Rs 102.20 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 58.03 per cent stake in the company as of 30-Sep-2023, while FIIs owned 8.4 per cent, DIIs 15.31 per cent.

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