Carborundum Universal Ltd

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

Carborundum Universal Ltd

₹ 1,270 -1.62%
26 Dec - close price
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
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]

Website BSE NSE
  • Market Cap ₹ 24,182 Cr.
  • Current Price ₹ 1,270
  • High / Low ₹ 1,841 / 1,026
  • Stock P/E 68.3
  • Book Value ₹ 128
  • Dividend Yield 0.31 %
  • ROCE 21.2 %
  • ROE 16.3 %
  • 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 22.6%

Cons

  • Stock is trading at 9.93 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

Part of BSE 250 SmallCap Index Nifty Total Market Nifty LargeMidcap 250 BSE Capital Goods BSE SmallCap Select Index

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
558 602 585 607 618 643 642 668 654 643 669 673 717
463 501 494 504 507 529 505 546 534 519 540 556 587
Operating Profit 95 101 92 102 111 114 136 122 120 124 129 117 130
OPM % 17% 17% 16% 17% 18% 18% 21% 18% 18% 19% 19% 17% 18%
7 3 16 13 5 6 33 18 8 5 15 22 6
Interest 0 0 1 2 4 5 4 2 1 0 0 0 0
Depreciation 17 16 16 17 17 17 23 17 18 18 19 20 20
Profit before tax 86 88 91 96 96 98 142 120 109 110 124 119 116
Tax % 26% 24% 32% 24% 25% 26% 20% 22% 24% 27% 24% 22% 25%
63 67 62 73 72 72 114 93 83 80 94 93 86
EPS in Rs 3.32 3.51 3.26 3.84 3.78 3.81 6.01 4.90 4.36 4.22 4.95 4.90 4.54
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
1,096 1,142 1,161 1,292 1,406 1,583 1,782 1,651 1,672 2,215 2,510 2,633 2,702
943 996 1,011 1,092 1,193 1,332 1,485 1,391 1,397 1,845 2,044 2,138 2,202
Operating Profit 154 145 150 199 212 250 298 260 275 370 465 496 500
OPM % 14% 13% 13% 15% 15% 16% 17% 16% 16% 17% 19% 19% 18%
18 19 117 39 34 30 27 47 31 42 56 44 47
Interest 16 13 9 9 9 1 1 0 0 1 15 4 0
Depreciation 47 49 59 62 67 74 75 67 61 65 74 73 77
Profit before tax 108 102 199 167 171 205 248 240 244 346 432 463 469
Tax % 31% 29% 26% 30% 29% 30% 33% 20% 25% 26% 23% 24%
75 73 148 116 122 143 166 191 184 254 331 350 354
EPS in Rs 3.98 3.88 7.88 6.18 6.46 7.59 8.78 10.10 9.70 13.40 17.42 18.41 18.61
Dividend Payout % 31% 32% 16% 24% 27% 30% 31% 27% 31% 26% 20% 22%
Compounded Sales Growth
10 Years: 9%
5 Years: 8%
3 Years: 16%
TTM: 4%
Compounded Profit Growth
10 Years: 17%
5 Years: 16%
3 Years: 23%
TTM: 3%
Stock Price CAGR
10 Years: 22%
5 Years: 32%
3 Years: 11%
1 Year: 16%
Return on Equity
10 Years: 14%
5 Years: 15%
3 Years: 16%
Last Year: 16%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 19 19 19 19 19 19 19 19 19 19 19 19 19
Reserves 666 715 841 940 1,036 1,151 1,258 1,348 1,516 1,722 1,988 2,278 2,417
132 119 84 109 3 2 1 1 0 163 104 0 0
202 195 202 203 240 264 248 205 311 366 328 295 347
Total Liabilities 1,019 1,047 1,146 1,270 1,297 1,436 1,526 1,573 1,846 2,270 2,438 2,592 2,782
414 415 389 375 408 430 395 422 418 435 486 527 523
CWIP 14 14 18 68 51 17 22 12 11 18 46 47 69
Investments 125 131 238 256 254 311 345 307 251 968 1,048 1,039 1,040
466 488 501 571 584 677 763 831 1,166 849 859 979 1,150
Total Assets 1,019 1,047 1,146 1,270 1,297 1,436 1,526 1,573 1,846 2,270 2,438 2,592 2,782

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
118 98 106 112 177 132 122 231 271 198 344 401
-53 -40 -53 -88 -46 -29 -28 -31 -214 -548 -212 -77
-76 -56 -57 -21 -133 -36 -59 -86 -26 111 -138 -161
Net Cash Flow -11 3 -5 3 -2 67 35 114 32 -239 -6 163

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 70 72 67 75 68 57 69 55 57 52
Inventory Days 136 132 153 147 139 143 165 181 152 157 130 117
Days Payable 69 60 68 68 82 92 71 70 109 93 82 73
Cash Conversion Cycle 135 145 155 151 123 127 161 168 113 118 105 97
Working Capital Days 78 101 100 88 88 91 101 101 84 76 74 69
ROCE % 16% 14% 14% 18% 17% 19% 20% 18% 17% 20% 21% 21%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
41.96% 41.94% 41.92% 41.90% 41.89% 41.52% 41.51% 41.28% 41.27% 41.24% 41.16% 41.05%
10.54% 10.20% 9.77% 9.38% 9.08% 9.36% 9.98% 10.15% 10.63% 11.72% 12.76% 12.71%
25.90% 26.32% 26.82% 27.42% 28.18% 28.82% 29.38% 29.74% 29.84% 29.06% 28.24% 28.03%
0.00% 0.00% 0.00% 0.02% 0.02% 0.02% 0.02% 0.03% 0.01% 0.01% 0.01% 0.01%
21.61% 21.54% 21.49% 21.28% 20.82% 20.28% 19.12% 18.80% 18.24% 17.99% 17.80% 18.20%
No. of Shareholders 59,92858,66256,41556,62852,78048,73457,15857,10156,66952,94364,34267,734

* 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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