Carborundum Universal Ltd

Carborundum Universal Ltd

₹ 1,691 0.23%
12 Jul - close price
About

Carborundum Universal Ltd, a part of the Chennai-based Murugappa group, is engaged in the manufacturing of abrasives, ceramics, refractories, and electro-minerals. [1]

Key Points

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]

  • Market Cap 32,164 Cr.
  • Current Price 1,691
  • High / Low 1,841 / 1,026
  • Stock P/E 69.5
  • Book Value 164
  • Dividend Yield 0.24 %
  • ROCE 20.1 %
  • ROE 15.6 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 17.5%

Cons

  • Stock is trading at 10.3 times its book value

* 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.

Loading peers table ...

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
757 712 845 899 869 1,140 1,128 1,187 1,200 1,203 1,146 1,151 1,201
598 593 695 742 758 1,012 965 1,016 1,009 1,034 979 960 992
Operating Profit 158 118 150 158 111 127 163 171 190 169 168 191 209
OPM % 21% 17% 18% 18% 13% 11% 14% 14% 16% 14% 15% 17% 17%
2 14 14 13 18 32 18 30 59 41 31 25 25
Interest 1 1 1 1 2 4 5 7 7 5 5 5 4
Depreciation 27 26 27 28 34 43 44 47 53 46 46 48 51
Profit before tax 132 106 137 141 93 112 131 147 190 160 148 163 180
Tax % 27% 26% 25% 21% 37% 23% 29% 23% 22% 26% 30% 31% 21%
96 78 103 111 58 86 94 113 149 118 104 112 143
EPS in Rs 4.78 4.07 5.14 5.35 3.00 4.15 4.69 5.75 7.22 5.96 5.36 5.86 7.09
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1,966 2,118 2,042 1,944 2,112 2,374 2,689 2,599 2,632 3,325 4,654 4,702
1,727 1,862 1,808 1,636 1,777 1,975 2,250 2,199 2,166 2,784 3,999 3,961
Operating Profit 239 256 234 308 336 400 439 400 466 540 655 741
OPM % 12% 12% 11% 16% 16% 17% 16% 15% 18% 16% 14% 16%
12 18 112 39 41 37 46 62 32 56 136 118
Interest 27 28 25 23 18 9 8 6 4 6 24 18
Depreciation 71 91 100 87 96 106 108 105 99 115 187 191
Profit before tax 152 154 220 237 262 322 369 351 395 477 580 650
Tax % 41% 38% 37% 34% 30% 32% 33% 22% 26% 27% 24% 27%
90 95 138 155 184 220 248 275 293 350 442 476
EPS in Rs 4.79 4.87 7.05 7.65 9.27 11.41 13.09 14.38 15.00 17.56 21.80 24.24
Dividend Payout % 26% 26% 18% 20% 19% 20% 21% 19% 20% 20% 16% 16%
Compounded Sales Growth
10 Years: 8%
5 Years: 12%
3 Years: 21%
TTM: 1%
Compounded Profit Growth
10 Years: 18%
5 Years: 13%
3 Years: 17%
TTM: 16%
Stock Price CAGR
10 Years: 25%
5 Years: 38%
3 Years: 37%
1 Year: 42%
Return on Equity
10 Years: 14%
5 Years: 15%
3 Years: 15%
Last Year: 16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 19 19 19 19 19 19 19 19 19 19 19 19
Reserves 1,040 1,087 1,070 1,173 1,364 1,545 1,705 1,839 2,113 2,345 2,802 3,107
435 456 340 320 156 129 97 70 62 240 277 172
409 423 387 348 374 394 401 354 486 692 774 793
Total Liabilities 1,903 1,986 1,816 1,860 1,913 2,088 2,222 2,283 2,679 3,296 3,872 4,091
844 897 793 659 705 736 695 748 777 1,006 1,527 1,555
CWIP 84 40 43 85 73 30 46 39 28 58 87 84
Investments 26 37 41 131 124 180 227 189 127 138 161 172
950 1,012 938 985 1,011 1,141 1,254 1,307 1,747 2,094 2,096 2,280
Total Assets 1,903 1,986 1,816 1,860 1,913 2,088 2,222 2,283 2,679 3,296 3,872 4,091

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
195 153 326 178 295 213 202 407 451 245 430 602
-205 -122 -136 -75 -72 -75 -85 -105 -266 -465 -248 -229
-29 -37 -162 -86 -207 -83 -109 -135 -66 89 -133 -214
Net Cash Flow -39 -6 28 17 16 55 7 168 119 -131 49 159

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 67 72 66 69 66 73 70 56 66 53 49 53
Inventory Days 206 213 198 198 192 199 204 209 187 218 191 183
Days Payable 90 98 87 72 82 90 80 80 123 117 72 86
Cash Conversion Cycle 183 186 177 196 176 182 194 185 130 154 169 150
Working Capital Days 90 95 83 99 98 103 107 96 82 80 85 80
ROCE % 12% 11% 10% 17% 18% 20% 21% 18% 19% 20% 20% 20%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
42.00% 41.96% 41.96% 41.94% 41.92% 41.90% 41.89% 41.52% 41.51% 41.28% 41.27% 41.24%
7.74% 9.84% 10.54% 10.20% 9.77% 9.38% 9.08% 9.36% 9.98% 10.15% 10.63% 11.72%
27.91% 26.50% 25.90% 26.32% 26.82% 27.42% 28.18% 28.82% 29.38% 29.74% 29.84% 29.06%
0.00% 0.00% 0.00% 0.00% 0.00% 0.02% 0.02% 0.02% 0.02% 0.03% 0.01% 0.01%
22.35% 21.70% 21.61% 21.54% 21.49% 21.28% 20.82% 20.28% 19.12% 18.80% 18.24% 17.99%
No. of Shareholders 44,30551,27659,92858,66256,41556,62852,78048,73457,15857,10156,66952,943

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Concalls