Carborundum Universal Ltd

Carborundum Uni. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Carborundum Universal Ltd

₹ 1,438 1.67%
26 Apr 2:51 p.m.
cumi.murugappa.com BSE: 513375 NSE : CARBORUNIV
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]

Website BSE NSE
  • Market Cap ₹ 27,368 Cr.
  • Current Price ₹ 1,438
  • High / Low ₹ 1,451 / 1,026
  • Stock P/E 73.9
  • Book Value ₹ 151
  • Dividend Yield 0.24 %
  • ROCE 19.7 %
  • ROE 15.4 %
  • Face Value ₹ 1.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 18.7%

Cons

  • Stock is trading at 9.49 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.

Peer comparison

Sector: Capital Goods-Non Electrical Equipment Industry: Abrasives And Grinding Wheels

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
734 757 712 845 899 869 1,140 1,128 1,187 1,200 1,203 1,146 1,151
604 598 593 695 742 758 1,012 965 1,016 1,009 1,034 979 960
Operating Profit 130 158 118 150 158 111 127 163 171 190 169 168 191
OPM % 18% 21% 17% 18% 18% 13% 11% 14% 14% 16% 14% 15% 17%
9 2 14 14 13 18 32 18 30 59 41 31 25
Interest 1 1 1 1 1 2 4 5 7 7 5 5 5
Depreciation 25 27 26 27 28 34 43 44 47 53 46 46 48
Profit before tax 114 132 106 137 141 93 112 131 147 190 160 148 163
Tax % 24% 27% 26% 25% 21% 37% 23% 29% 23% 22% 26% 30% 31%
87 96 78 103 111 58 86 94 113 149 118 104 112
EPS in Rs 4.63 4.78 4.07 5.14 5.35 3.00 4.15 4.69 5.75 7.22 5.96 5.36 5.86
Raw PDF
Upcoming result date: 3 May 2024

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
1,988 1,966 2,118 2,042 1,944 2,112 2,374 2,689 2,599 2,632 3,325 4,654 4,701
1,598 1,727 1,862 1,808 1,636 1,777 1,975 2,250 2,199 2,166 2,784 3,999 3,982
Operating Profit 390 239 256 234 308 336 400 439 400 466 540 655 719
OPM % 20% 12% 12% 11% 16% 16% 17% 16% 15% 18% 16% 14% 15%
14 12 18 112 39 41 37 46 62 32 56 136 156
Interest 25 27 28 25 23 18 9 8 6 4 6 24 22
Depreciation 57 71 91 100 87 96 106 108 105 99 115 187 192
Profit before tax 323 152 154 220 237 262 322 369 351 395 477 580 660
Tax % 28% 41% 38% 37% 34% 30% 32% 33% 22% 26% 27% 24%
233 90 95 138 155 184 220 248 275 293 350 442 482
EPS in Rs 11.70 4.79 4.87 7.05 7.65 9.27 11.41 13.09 14.38 15.00 17.56 21.80 24.40
Dividend Payout % 17% 26% 26% 18% 20% 19% 20% 21% 19% 20% 20% 16%
Compounded Sales Growth
10 Years: 9%
5 Years: 14%
3 Years: 21%
TTM: 9%
Compounded Profit Growth
10 Years: 16%
5 Years: 13%
3 Years: 14%
TTM: 11%
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: 15%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 928 1,040 1,087 1,070 1,173 1,364 1,545 1,705 1,839 2,113 2,345 2,802 2,845
Preference Capital 0 0 0 0 0 0 5 5 4 5 8 0
399 435 456 340 320 156 124 92 66 57 232 277 183
418 409 423 387 348 374 399 406 358 491 700 774 804
Total Liabilities 1,764 1,903 1,986 1,816 1,860 1,913 2,088 2,222 2,283 2,679 3,296 3,872 3,851
662 844 897 793 659 705 736 695 748 777 1,006 1,527 1,494
CWIP 83 84 40 43 85 73 30 46 39 28 58 87 74
Investments 40 26 37 41 131 124 180 227 189 127 138 161 162
979 950 1,012 938 985 1,011 1,141 1,254 1,307 1,747 2,094 2,096 2,121
Total Assets 1,764 1,903 1,986 1,816 1,860 1,913 2,088 2,222 2,283 2,679 3,296 3,872 3,851

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
239 195 153 326 178 295 213 202 407 451 245 430
-101 -205 -122 -136 -75 -72 -75 -85 -105 -266 -465 -248
-86 -29 -37 -162 -86 -207 -83 -109 -135 -66 89 -133
Net Cash Flow 51 -39 -6 28 17 16 55 7 168 119 -131 49

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 66 67 72 66 69 66 73 70 56 66 53 49
Inventory Days 231 206 213 198 198 192 199 204 209 187 218 191
Days Payable 95 90 98 87 72 82 90 80 80 123 117 72
Cash Conversion Cycle 203 183 186 177 196 176 182 194 185 130 154 169
Working Capital Days 89 90 95 83 99 98 103 107 96 82 80 85
ROCE % 26% 12% 11% 10% 17% 18% 20% 21% 18% 19% 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.

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