Carborundum Universal Ltd

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

Carborundum Universal Ltd

₹ 1,513 -1.84%
28 Aug 4:01 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 ₹ 28,778 Cr.
  • Current Price ₹ 1,513
  • High / Low ₹ 1,841 / 1,026
  • Stock P/E 82.1
  • Book Value ₹ 121
  • Dividend Yield 0.26 %
  • 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 12.5 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

Standalone Figures in Rs. Crores / View Consolidated

Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024
470 558 602 585 607 618 643 642 668 654 643 669 673
388 463 501 494 504 507 529 505 546 534 519 540 556
Operating Profit 82 95 101 92 102 111 114 136 122 120 124 129 117
OPM % 17% 17% 17% 16% 17% 18% 18% 21% 18% 18% 19% 19% 17%
15 7 3 16 13 5 6 33 18 8 5 15 22
Interest 0 0 0 1 2 4 5 4 2 1 0 0 0
Depreciation 16 17 16 16 17 17 17 23 17 18 18 19 20
Profit before tax 81 86 88 91 96 96 98 142 120 109 110 124 119
Tax % 22% 26% 24% 32% 24% 25% 26% 20% 22% 24% 27% 24% 22%
63 63 67 62 73 72 72 114 93 83 80 94 93
EPS in Rs 3.33 3.32 3.51 3.26 3.84 3.78 3.81 6.01 4.90 4.36 4.22 4.95 4.90
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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 2,639
943 996 1,011 1,092 1,193 1,332 1,485 1,391 1,397 1,845 2,044 2,138 2,149
Operating Profit 154 145 150 199 212 250 298 260 275 370 465 496 490
OPM % 14% 13% 13% 15% 15% 16% 17% 16% 16% 17% 19% 19% 19%
18 19 117 39 34 30 27 47 31 42 56 44 49
Interest 16 13 9 9 9 1 1 0 0 1 15 4 2
Depreciation 47 49 59 62 67 74 75 67 61 65 74 73 75
Profit before tax 108 102 199 167 171 205 248 240 244 346 432 463 463
Tax % 31% 29% 26% 30% 29% 30% 33% 20% 25% 26% 23% 24%
75 73 148 116 122 143 166 191 184 254 331 350 351
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 18.43
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: 3%
Compounded Profit Growth
10 Years: 17%
5 Years: 16%
3 Years: 23%
TTM: 6%
Stock Price CAGR
10 Years: 23%
5 Years: 40%
3 Years: 24%
1 Year: 33%
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
Equity Capital 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
132 119 84 109 3 2 1 1 0 163 104 0
202 195 202 203 240 264 248 205 311 366 328 295
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
414 415 389 375 408 430 395 422 418 435 486 527
CWIP 14 14 18 68 51 17 22 12 11 18 46 47
Investments 125 131 238 256 254 311 345 307 251 968 1,048 1,039
466 488 501 571 584 677 763 831 1,166 849 859 979
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

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

Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
41.96% 41.96% 41.94% 41.92% 41.90% 41.89% 41.52% 41.51% 41.28% 41.27% 41.24% 41.16%
9.84% 10.54% 10.20% 9.77% 9.38% 9.08% 9.36% 9.98% 10.15% 10.63% 11.72% 12.76%
26.50% 25.90% 26.32% 26.82% 27.42% 28.18% 28.82% 29.38% 29.74% 29.84% 29.06% 28.24%
0.00% 0.00% 0.00% 0.00% 0.02% 0.02% 0.02% 0.02% 0.03% 0.01% 0.01% 0.01%
21.70% 21.61% 21.54% 21.49% 21.28% 20.82% 20.28% 19.12% 18.80% 18.24% 17.99% 17.80%
No. of Shareholders 51,27659,92858,66256,41556,62852,78048,73457,15857,10156,66952,94364,342

* 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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