Carborundum Universal Ltd
Carborundum Universal Ltd, a part of the Chennai-based Murugappa group, is engaged in the manufacturing of abrasives, ceramics, refractories, and electro-minerals. [1]
- Market Cap ₹ 26,919 Cr.
- Current Price ₹ 1,415
- High / Low ₹ 1,423 / 1,026
- Stock P/E 76.7
- Book Value ₹ 113
- Dividend Yield 0.25 %
- ROCE 21.1 %
- ROE 16.7 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 25.7%
Cons
- Stock is trading at 12.5 times its book value
- The company has delivered a poor sales growth of 9.66% over past five years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Capital Goods-Non Electrical Equipment Industry: Abrasives And Grinding Wheels
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1,119 | 1,096 | 1,142 | 1,161 | 1,292 | 1,406 | 1,583 | 1,782 | 1,651 | 1,672 | 2,215 | 2,510 | 2,606 | |
899 | 943 | 996 | 1,011 | 1,092 | 1,193 | 1,332 | 1,485 | 1,391 | 1,397 | 1,845 | 2,044 | 2,104 | |
Operating Profit | 221 | 154 | 145 | 150 | 199 | 212 | 250 | 298 | 260 | 275 | 370 | 465 | 502 |
OPM % | 20% | 14% | 13% | 13% | 15% | 15% | 16% | 17% | 16% | 16% | 17% | 19% | 19% |
30 | 18 | 19 | 117 | 39 | 34 | 30 | 27 | 47 | 31 | 42 | 56 | 64 | |
Interest | 17 | 16 | 13 | 9 | 9 | 9 | 1 | 1 | 0 | 0 | 1 | 15 | 8 |
Depreciation | 44 | 47 | 49 | 59 | 62 | 67 | 74 | 75 | 67 | 61 | 65 | 74 | 77 |
Profit before tax | 189 | 108 | 102 | 199 | 167 | 171 | 205 | 248 | 240 | 244 | 346 | 432 | 481 |
Tax % | 23% | 31% | 29% | 26% | 30% | 29% | 30% | 33% | 20% | 25% | 26% | 23% | |
147 | 75 | 73 | 148 | 116 | 122 | 143 | 166 | 191 | 184 | 254 | 331 | 370 | |
EPS in Rs | 7.83 | 3.98 | 3.88 | 7.88 | 6.18 | 6.46 | 7.59 | 8.78 | 10.10 | 9.70 | 13.40 | 17.42 | 19.49 |
Dividend Payout % | 26% | 31% | 32% | 16% | 24% | 27% | 30% | 31% | 27% | 31% | 26% | 20% |
Compounded Sales Growth | |
---|---|
10 Years: | 9% |
5 Years: | 10% |
3 Years: | 15% |
TTM: | 6% |
Compounded Profit Growth | |
---|---|
10 Years: | 15% |
5 Years: | 17% |
3 Years: | 19% |
TTM: | 26% |
Stock Price CAGR | |
---|---|
10 Years: | 26% |
5 Years: | 31% |
3 Years: | 42% |
1 Year: | 34% |
Return on Equity | |
---|---|
10 Years: | 14% |
5 Years: | 15% |
3 Years: | 15% |
Last Year: | 17% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 |
Reserves | 618 | 666 | 715 | 841 | 940 | 1,036 | 1,151 | 1,258 | 1,348 | 1,516 | 1,722 | 1,988 | 2,127 |
97 | 132 | 119 | 84 | 109 | 3 | 2 | 1 | 1 | 0 | 163 | 104 | 23 | |
267 | 202 | 195 | 202 | 203 | 240 | 264 | 248 | 205 | 311 | 366 | 328 | 317 | |
Total Liabilities | 1,000 | 1,019 | 1,047 | 1,146 | 1,270 | 1,297 | 1,436 | 1,526 | 1,573 | 1,846 | 2,270 | 2,438 | 2,486 |
385 | 414 | 415 | 389 | 375 | 408 | 430 | 395 | 422 | 418 | 435 | 486 | 503 | |
CWIP | 27 | 14 | 14 | 18 | 68 | 51 | 17 | 22 | 12 | 11 | 18 | 46 | 33 |
Investments | 135 | 125 | 131 | 238 | 256 | 254 | 311 | 345 | 307 | 251 | 968 | 1,048 | 1,039 |
453 | 466 | 488 | 501 | 571 | 584 | 677 | 763 | 831 | 1,166 | 849 | 859 | 912 | |
Total Assets | 1,000 | 1,019 | 1,047 | 1,146 | 1,270 | 1,297 | 1,436 | 1,526 | 1,573 | 1,846 | 2,270 | 2,438 | 2,486 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
136 | 118 | 98 | 106 | 112 | 177 | 132 | 122 | 231 | 271 | 198 | 344 | |
-9 | -53 | -40 | -53 | -88 | -46 | -29 | -28 | -31 | -214 | -548 | -212 | |
-115 | -76 | -56 | -57 | -21 | -133 | -36 | -59 | -86 | -26 | 111 | -138 | |
Net Cash Flow | 12 | -11 | 3 | -5 | 3 | -2 | 67 | 35 | 114 | 32 | -239 | -6 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 60 | 67 | 72 | 70 | 72 | 67 | 75 | 68 | 57 | 69 | 55 | 57 |
Inventory Days | 150 | 136 | 132 | 153 | 147 | 139 | 143 | 165 | 181 | 152 | 157 | 130 |
Days Payable | 63 | 69 | 60 | 68 | 68 | 82 | 92 | 71 | 70 | 109 | 93 | 82 |
Cash Conversion Cycle | 147 | 135 | 145 | 155 | 151 | 123 | 127 | 161 | 168 | 113 | 118 | 105 |
Working Capital Days | 64 | 78 | 101 | 100 | 88 | 88 | 91 | 101 | 101 | 84 | 76 | 74 |
ROCE % | 27% | 16% | 14% | 14% | 18% | 17% | 19% | 20% | 18% | 17% | 20% | 21% |
Documents
Announcements
- Board Meeting Intimation for Consideration And Approval Of Audited Financial Statement For The Year Ended 31St March 2024 And Final Dividend. 17 Apr
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 12 Apr
- Compliance Certificate As per Regulation 40(9 &10) Of SEBI (LODR) Regulations, 2015 12 Apr
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 11 Apr
- Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 -Appointment Of Senior Management 5 Apr
Annual reports
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Financial Year 2023
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Financial Year 2020
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Financial Year 2016
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Financial Year 2010
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Concalls
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Feb 2024TranscriptPPT
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Business Segments
Abrasives: It manufactures and distributes rigid and flexible abrasives. The key product segments are Bonded Abrasives, Coated Abrasives, Metal Working Fluid, and Super Abrasives. With a market share of over 30% in the bonded abrasives segment, the company is a leading player in the Indian abrasives industry.
Industrial Ceramics: This segment offers advanced Ceramics in Alumina, Zirconia, Zirconia Toughened Alumina, and Silicon Carbide. The key user industries for Ceramics Business are Power Generation and Distribution, Mining & Ore processing, Cement, Ferrous, Automotive, Battery, Glass, Paper, Food Grain handling, Petrochemicals, and Ceramic Tiles industries.
ElectroMinerals: This unit of the company spans India, Russia, and South Africa with eight manufacturing facilities covering product groups - Fused Alumina (comprising Brown and its variants and White Fused Alumina), Silicon Carbide (crude, macro, and fine), and Alumina Zirconia. This segment also operates its own Bauxite and sand mines and a 12 MW Hydel power plant to insulate it from fluctuations in power tariffs. [1][2]