Carborundum Universal Ltd logo

Carborundum Universal Ltd

CARBORUNIV NSE

Key Fundamentals

SmallcapAbrasives & BearingsIndustrial Products
Market Cap
₹20,474 Cr
Volatility
Moderate
P/E Ratio
99.82
EBITDA
₹651 Cr
Return on Equity
4.19%
Debt to Equity
0.11
Book Value
₹204.59
EPS
₹20.19
52W High
₹1,306.9
52W Low
₹735.2

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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40 extracted metrics + investor summaries across FY15–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 27.2%

Weaknesses

1
  • Company has a low return on equity of 10.8% over last 3 years.

Growth Rate

Revenue Growth
6.95% ↘
Net Income Growth
-43.82% ↗
Cash Flow Change
20.75% ↗
ROE
-48.46% ↗
ROCE
-42.05% ↗
EBITDA Margin (Avg.)
-19.15% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
AI opinion · based on fundamentals
Risk high

Carborundum Universal Ltd trades at a market cap of ₹20,737 Cr with a PE of 122.4x, reflecting premium valuations against a backdrop of declining profitability — TTM profit growth is -29% while sales grew only 6%. The company maintains a consistent dividend payout of 27.2% but faces pressure on return ratios with last year ROE dropping to 7%.

Bull Case 8
  • Long-term sales compounding at 10% over 10 years demonstrates consistent revenue growth in the industrial abrasives and ceramics space
  • 5-year compounded sales growth of 15% indicates strong mid-term revenue momentum built during the capex upcycle
  • 10-year stock CAGR of 16% shows sustained long-term wealth creation for shareholders
  • Consistent dividend payout ratio of 27.2% reflects management discipline in returning cash to shareholders
  • 10-year ROE average of 13% indicates the business has historically generated reasonable returns on equity capital
  • 1-year stock CAGR of 19% suggests market confidence in future recovery and growth prospects
  • TTM sales growth of 6% shows the company is still growing revenue despite macro headwinds in the industrial sector
  • 5-year ROE average of 12% remains above cost of equity for most industrial companies, indicating value creation over medium term
Bear Case 8
  • PE ratio of 122.4x is extremely elevated for an industrial products company, leaving little margin of safety
  • TTM profit has declined by -29%, indicating severe earnings compression in the most recent period
  • 3-year compounded profit growth of -14% signals a sustained deterioration in profitability, not a one-off event
  • Last year ROE dropped to 7% from a 5-year average of 12%, showing a sharp fall in capital efficiency
  • Price-to-book of 5.27x is steep given the declining return profile and low current ROE of 7%
  • Dividend yield of only 0.37% offers minimal income cushion at current elevated stock price levels
  • 3-year stock CAGR of -5% means shareholders who bought three years ago are still underwater on a CAGR basis
  • 5-year compounded profit growth of -3% contrasts sharply with 15% sales growth over the same period, suggesting margin erosion

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 1d ago
Positives 3
  • Strong Q1 profit up 23% YoY Aug 7

    Consolidated net profit rose to ₹764M from ₹619M YoY, with revenue up 19% to ₹14.3B from ₹12B. EBITDA improved to ₹1.35B at 9.50% margin with all three segments delivering double-digit growth.

  • FY26 revenue up 7%, dividend declared Jul 17

    Consolidated revenue grew 7% to ₹51,494M in FY26. Company declared ₹2.50 final dividend at its 72nd AGM scheduled Aug 7.

  • Conservative balance sheet maintained Aug 7

    Debt-to-equity ratio stands at just 0.05, giving the company significant financial flexibility for future investments.

Neutral 3
  • Q1FY27 investor call on Aug 10 Jul 30

    Company will host analyst/investor call on Aug 10, 2026 organized by DAM Capital Advisors to discuss Q1 unaudited results.

  • BRSR filed for FY26 Jul 17

    Filed Business Responsibility and Sustainability Report for FY26 with exchanges, detailing ESG performance and targets.

  • 72nd AGM via video conference Jul 9

    AGM convened on Aug 7, 2026 via VC, with advertisements published in Business Standard and Makkal Kural.

TL;DR: Carborundum Universal is executing well with Q1 profit up 23% YoY and broad-based segment growth across abrasives, ceramics, and electrominerals. The near-zero leverage (0.05 D/E) provides a strong financial cushion. No material headwinds are visible in recent news flow. The trend is improving with accelerating revenue growth from 7% in FY26 to 19% in Q1FY27, suggesting strengthening demand momentum.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,203
1,146
1,151
1,201
1,198
1,224
1,255
1,217
1,219
1,298
1,291
1,398
1,427
Expenses
1,034
979
960
992
1,004
1,029
1,078
1,071
1,098
1,142
1,134
1,254
1,292
Operating Profit
169
168
191
209
194
195
177
146
121
156
157
144
135
OPM %
14%
15%
17%
17%
16%
16%
14%
12%
10%
12%
12%
10%
9%
Other Income
41
31
25
25
19
23
-77
18
27
23
22
-103
55
Interest
5
5
5
4
3
4
4
3
3
4
5
6
6
Depreciation
46
46
48
51
51
52
53
56
59
62
61
65
66
PBT
160
148
163
180
158
162
43
105
86
113
113
-30
119
Tax %
26%
30%
31%
21%
27%
28%
13%
71%
30%
34%
35%
34%
33%
Net Profit
118
104
112
143
115
116
38
30
60
74
73
-40
80
EPS in Rs
5.96
5.36
5.86
7.09
5.94
6.09
1.83
1.53
3.25
3.91
3.99
-0.92
4.01
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
2,042
1,944
2,112
2,374
2,689
2,599
2,632
3,325
4,654
4,702
4,894
5,206
5,414
Expenses
1,808
1,636
1,777
1,975
2,250
2,199
2,166
2,784
3,999
3,961
4,178
4,624
4,821
Operating Profit
234
308
336
400
439
400
466
540
655
741
717
582
593
OPM %
11%
16%
16%
17%
16%
15%
18%
16%
14%
16%
15%
11%
11%
Other Income
112
39
41
37
46
62
32
56
136
118
-23
-35
-3
Interest
25
23
18
9
8
6
4
6
24
18
14
19
21
Depreciation
100
87
96
106
108
105
99
115
187
191
212
247
253
PBT
220
237
262
322
369
351
395
477
580
650
468
282
315
Tax %
37%
34%
30%
32%
33%
22%
26%
27%
24%
27%
36%
40%
—
Net Profit
138
155
184
220
248
275
293
350
442
476
299
168
188
EPS in Rs
7.05
7.65
9.27
11.41
13.09
14.38
15
17.56
21.8
24.24
15.37
10.22
10.99
Div. Payout %
18%
20%
19%
20%
21%
19%
20%
20%
16%
16%
26%
39%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Borrowings
340
320
156
129
97
70
62
240
277
172
216
413
Other Liabilities
387
348
374
394
401
354
486
692
774
793
835
959
Total Liabilities
1,816
1,860
1,913
2,088
2,222
2,283
2,679
3,296
3,872
4,091
4,580
5,271
Fixed Assets
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
Other Assets
938
985
1,011
1,141
1,254
1,307
1,747
2,094
2,096
2,280
2,544
3,025
Total Assets
1,816
1,860
1,913
2,088
2,222
2,283
2,679
3,296
3,872
4,091
4,580
5,271
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
326
178
295
213
202
407
451
245
430
602
304
367
Investing
-136
-75
-72
-75
-85
-105
-266
-465
-248
-229
-371
-167
Financing
-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
320
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
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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%
11%

Shareholding Pattern

As of Jun 2026
Promoters 38.89%
DIIs 29.06%
Public 15.90%
FIIs 11.13%
Others 5.00%
Government 0.01%
Total 99.99%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
42.01%
42.00%
41.96%
41.96%
41.94%
41.92%
41.90%
41.89%
41.52%
41.50%
41.28%
41.28%
41.23%
41.16%
41.04%
39.82%
39.82%
39.23%
38.96%
38.90%
38.89%
38.89%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
10.15%
10.63%
11.71%
12.76%
12.71%
13.01%
12.11%
11.81%
10.88%
10.98%
10.73%
11.13%
DIIs
25.55%
25.51%
24.24%
23.27%
24.12%
24.86%
27.27%
28.19%
28.83%
29.38%
29.74%
29.84%
29.05%
28.25%
28.03%
28.18%
28.86%
29.22%
29.82%
30.02%
29.45%
29.06%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.02%
0.02%
0.02%
0.02%
0.03%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
Public
16.83%
16.73%
16.30%
16.25%
16.27%
16.24%
14.56%
14.18%
14.12%
14.01%
14.11%
13.73%
13.52%
13.42%
13.71%
14.49%
14.66%
14.68%
15.18%
14.92%
15.76%
15.90%
Others
15.61%
15.75%
17.49%
18.52%
17.66%
16.98%
16.24%
15.72%
15.51%
15.08%
4.69%
4.51%
4.46%
4.40%
4.50%
4.49%
4.54%
5.05%
5.15%
5.18%
5.16%
5.00%
No. of Shareholders
39,281
44,305
51,276
59,928
58,662
56,415
56,628
52,780
48,734
57,158
57,101
56,669
52,943
64,342
67,734
69,300
71,711
69,834
69,083
62,427
65,914
64,977

Documents

Frequently Asked Questions about Carborundum Universal Ltd

What does Carborundum Universal Ltd do?
Carborundum Universal Ltd, a part of the Chennai-based Murugappa group, is engaged in the manufacturing of abrasives, ceramics, refractories, and electro-minerals. [1]
Where is Carborundum Universal Ltd (CARBORUNIV) listed?
Carborundum Universal Ltd is listed on the Indian stock exchanges. It is listed on NSE: CARBORUNIV and BSE: 513375. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Carborundum Universal Ltd belong to?
Carborundum Universal Ltd operates in the Industrial Products sector within the Abrasives & Bearings industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Carborundum Universal Ltd?
Carborundum Universal Ltd has a market capitalisation of approximately ₹20474.24 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Carborundum Universal Ltd?
The Price-to-Earnings (PE) ratio of Carborundum Universal Ltd is 99.82. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Carborundum Universal Ltd?
Over the past 52 weeks, Carborundum Universal Ltd has traded between a low of ₹735.2 and a high of ₹1,306.9. This range helps investors understand the stock's price volatility and recent trading levels.
Does Carborundum Universal Ltd pay dividends?
Yes, Carborundum Universal Ltd has a dividend yield of 0.37%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Carborundum Universal Ltd?
Carborundum Universal Ltd has a Return on Equity (ROE) of 4.19%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Carborundum Universal Ltd on Tapetide?
On Tapetide, you can view Carborundum Universal Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Carborundum Universal Ltd, a part of the Chennai-based Murugappa group, is engaged in the manufacturing of abrasives, ceramics, refractories, and electro-minerals. [1]

Website cumi.murugappa.com
CEO Mr. Sridharan Rangarajan
Employees 2,380
Listed 1996-04-03
Face Value ₹ 1
Issued Size 19,04,47,864

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