Carborundum Universal Ltd

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

Carborundum Universal Ltd

₹ 1,284 1.07%
27 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 ₹ 24,426 Cr.
  • Current Price ₹ 1,284
  • High / Low ₹ 1,841 / 1,026
  • Stock P/E 61.3
  • Book Value ₹ 175
  • Dividend Yield 0.31 %
  • ROCE 20.1 %
  • ROE 15.6 %
  • 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 17.5%

Cons

  • Stock is trading at 7.33 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 500 BSE 250 SmallCap Index Nifty Midcap 150 Nifty Midcap150 Quality 50 Nifty MidSmallcap 400

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
845 899 869 1,140 1,128 1,187 1,200 1,203 1,146 1,151 1,201 1,198 1,224
695 742 758 1,012 965 1,016 1,009 1,034 979 960 992 1,004 1,029
Operating Profit 150 158 111 127 163 171 190 169 168 191 209 194 195
OPM % 18% 18% 13% 11% 14% 14% 16% 14% 15% 17% 17% 16% 16%
14 13 18 32 18 30 59 41 31 25 25 19 23
Interest 1 1 2 4 5 7 7 5 5 5 4 3 4
Depreciation 27 28 34 43 44 47 53 46 46 48 51 51 52
Profit before tax 137 141 93 112 131 147 190 160 148 163 180 158 162
Tax % 25% 21% 37% 23% 29% 23% 22% 26% 30% 31% 21% 27% 28%
103 111 58 86 94 113 149 118 104 112 143 115 116
EPS in Rs 5.14 5.35 3.00 4.15 4.69 5.75 7.22 5.96 5.36 5.86 7.09 5.94 6.09
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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 TTM
1,966 2,118 2,042 1,944 2,112 2,374 2,689 2,599 2,632 3,325 4,654 4,702 4,774
1,727 1,862 1,808 1,636 1,777 1,975 2,250 2,199 2,166 2,784 3,999 3,961 3,985
Operating Profit 239 256 234 308 336 400 439 400 466 540 655 741 789
OPM % 12% 12% 11% 16% 16% 17% 16% 15% 18% 16% 14% 16% 17%
12 18 112 39 41 37 46 62 32 56 136 118 91
Interest 27 28 25 23 18 9 8 6 4 6 24 18 15
Depreciation 71 91 100 87 96 106 108 105 99 115 187 191 203
Profit before tax 152 154 220 237 262 322 369 351 395 477 580 650 663
Tax % 41% 38% 37% 34% 30% 32% 33% 22% 26% 27% 24% 27%
90 95 138 155 184 220 248 275 293 350 442 476 486
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 24.98
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: -10%
Stock Price CAGR
10 Years: 22%
5 Years: 32%
3 Years: 12%
1 Year: 17%
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 Sep 2024
Equity Capital 19 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 3,316
435 456 340 320 156 129 97 70 62 240 277 172 179
409 423 387 348 374 394 401 354 486 692 774 793 906
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 4,419
844 897 793 659 705 736 695 748 777 1,006 1,527 1,555 1,575
CWIP 84 40 43 85 73 30 46 39 28 58 87 84 107
Investments 26 37 41 131 124 180 227 189 127 138 161 172 189
950 1,012 938 985 1,011 1,141 1,254 1,307 1,747 2,094 2,096 2,280 2,548
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 4,419

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

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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Documents

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Credit ratings

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