Carborundum,Universal Autofoundry

Carborundum Universal a part of the Murugappa group, posted good consolidated Q4 numbers. At a glance, the net profit shows a 40% (YoY) decline at Rs.40 crore but only on closer scrutiny you see that net profit in Q4FY15 was boosted up due to exceptional income of Rs.56 crore. Thus without this one-time gain, the YoY performance is excellent. Consolidated net sales for the quarter grew by 7% at Rs.528 crore v/s Rs.465 crore.

The company ended FY16 with a net profit at Rs.143 crore, up 4%. The FY15 net profit of Rs.138 crore included an exceptional gain of Rs.50 crore. Consolidated net sales for the full year increased by 2% to Rs.2,056 crore.

The company has three segments – abrasives, ceramics and electrominerals. In terms of revenue growth, it was abrasives which was the biggest contributor at 42%, electrominerals at 33% and ceramics at 22%.. On an equity of Rs.18.84 crore (Re.1 face value), the company is sitting on a reserves of Rs.1165 crore. EPS of the year stands at Rs.7.58.