Carborundum Universal Ltd

Carborundum Universal Ltd

₹ 1,102 6.27%
15 May - 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
1) Abrasives (44% in Q2 FY25 vs 38% in FY22): [1] [2] The company manufactures and distributes rigid and flexible abrasives across key product segments like bonded, coated, metal working fluid, and super abrasives. [3] It is one of the largest producers of abrasives in the domestic market with over 30% market share. [4] The segment's revenue increased by 63% from FY22 to FY24, fueled by high demand and the integration of newly acquired subsidiaries in Germany “RHODIUS Abrasive GmbH and CUMI AWUKO Abrasives GmbH” and India “PLUSS Advanced Technologies”. [5]

  • Market Cap 21,000 Cr.
  • Current Price 1,102
  • High / Low 1,124 / 735
  • Stock P/E 82.0
  • Book Value 205
  • Dividend Yield 0.36 %
  • ROCE 10.5 %
  • ROE 6.89 %
  • Face Value 1.00

Pros

  • Company has been maintaining a healthy dividend payout of 22.3%

Cons

  • Company has a low return on equity of 10.8% over last 3 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
1,200 1,203 1,146 1,151 1,201 1,198 1,224 1,255 1,217 1,219 1,298 1,291 1,398
1,009 1,034 979 960 992 1,004 1,029 1,078 1,071 1,098 1,142 1,134 1,254
Operating Profit 190 169 168 191 209 194 195 177 146 121 156 157 144
OPM % 16% 14% 15% 17% 17% 16% 16% 14% 12% 10% 12% 12% 10%
59 41 31 25 25 19 23 -77 18 27 23 22 -103
Interest 7 5 5 5 4 3 4 4 3 3 4 5 6
Depreciation 53 46 46 48 51 51 52 53 56 59 62 61 65
Profit before tax 190 160 148 163 180 158 162 43 105 86 113 113 -30
Tax % 22% 26% 30% 31% 21% 27% 28% 13% 71% 30% 34% 35% 34%
149 118 104 112 143 115 116 38 30 60 74 73 -40
EPS in Rs 7.22 5.96 5.36 5.86 7.09 5.94 6.09 1.83 1.53 3.25 3.91 3.99 -0.92
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
2,042 1,944 2,112 2,374 2,689 2,599 2,632 3,325 4,654 4,702 4,894 5,206
1,808 1,636 1,777 1,975 2,250 2,199 2,166 2,784 3,999 3,961 4,178 4,627
Operating Profit 234 308 336 400 439 400 466 540 655 741 717 579
OPM % 11% 16% 16% 17% 16% 15% 18% 16% 14% 16% 15% 11%
112 39 41 37 46 62 32 56 136 118 -23 -32
Interest 25 23 18 9 8 6 4 6 24 18 14 19
Depreciation 100 87 96 106 108 105 99 115 187 191 212 247
Profit before tax 220 237 262 322 369 351 395 477 580 650 468 282
Tax % 37% 34% 30% 32% 33% 22% 26% 27% 24% 27% 36% 40%
138 155 184 220 248 275 293 350 442 476 299 168
EPS in Rs 7.05 7.65 9.27 11.41 13.09 14.38 15.00 17.56 21.80 24.24 15.37 10.22
Dividend Payout % 18% 20% 19% 20% 21% 19% 20% 20% 16% 16% 26% 24%
Compounded Sales Growth
10 Years: 10%
5 Years: 15%
3 Years: 4%
TTM: 6%
Compounded Profit Growth
10 Years: 6%
5 Years: -3%
3 Years: -14%
TTM: -29%
Stock Price CAGR
10 Years: 18%
5 Years: 14%
3 Years: -2%
1 Year: 12%
Return on Equity
10 Years: 13%
5 Years: 12%
3 Years: 11%
Last Year: 7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 19 19 19 19 19 19 19 19 19 19 19 19
Reserves 1,070 1,173 1,364 1,545 1,705 1,839 2,113 2,345 2,802 3,107 3,510 3,881
340 320 156 129 97 70 62 240 277 172 216 413
387 348 374 394 401 354 486 692 774 793 835 978
Total Liabilities 1,816 1,860 1,913 2,088 2,222 2,283 2,679 3,296 3,872 4,091 4,580 5,291
793 659 705 736 695 748 777 1,006 1,527 1,555 1,716 1,906
CWIP 43 85 73 30 46 39 28 58 87 84 118 141
Investments 41 131 124 180 227 189 127 138 161 172 201 199
938 985 1,011 1,141 1,254 1,307 1,747 2,094 2,096 2,280 2,544 3,045
Total Assets 1,816 1,860 1,913 2,088 2,222 2,283 2,679 3,296 3,872 4,091 4,580 5,291

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
326 178 295 213 202 407 451 245 430 602 304 367
-136 -75 -72 -75 -85 -105 -266 -465 -248 -229 -371 -217
-162 -86 -207 -83 -109 -135 -66 89 -133 -214 -110 119
Net Cash Flow 28 17 16 55 7 168 119 -131 49 159 -177 270
Free Cash Flow 339 96 190 121 107 284 348 -315 130 367 28 60
CFO/OP 169% 85% 111% 81% 73% 127% 119% 70% 90% 109% 70% 93%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 66 69 66 73 70 56 66 53 49 53 57 62
Inventory Days 198 198 192 199 204 209 187 218 191 183 215 200
Days Payable 87 72 82 90 80 80 123 117 72 73 71 76
Cash Conversion Cycle 177 196 176 182 194 185 130 154 169 163 201 187
Working Capital Days 44 56 74 85 95 88 77 57 70 73 97 75
ROCE % 10% 17% 18% 20% 21% 18% 19% 20% 20% 20% 16% 10%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Receivable Turnover Days (Consolidated)
days

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Consolidated Production Capacity - Silicon Carbide
tonnes per annum
Total Number of SKUs
count
Total Global Workforce
count
Number of Manufacturing Locations
count
Number of Dealers/Distributors in India
count ・Standalone data
Installed Capacity - Coated Abrasives
million sq. meters ・Standalone data
Ceramic Fiber Capacity Increase (Murugappa Morgan)
percentage
R&D Expenditure (Percentage of Turnover)
% ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
41.51% 41.28% 41.27% 41.24% 41.16% 41.05% 39.82% 39.82% 39.23% 38.96% 38.90% 38.89%
9.98% 10.15% 10.63% 11.72% 12.76% 12.71% 13.01% 12.11% 11.81% 10.87% 10.98% 10.73%
29.38% 29.74% 29.84% 29.06% 28.24% 28.03% 28.18% 28.86% 29.22% 29.82% 30.01% 29.45%
0.02% 0.03% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
19.12% 18.80% 18.24% 17.99% 17.80% 18.20% 18.97% 19.21% 19.74% 20.34% 20.10% 20.91%
No. of Shareholders 57,15857,10156,66952,94364,34267,73469,30071,71169,83469,08362,42765,914

* 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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