Carborundum Universal Ltd., incorporated in the year 1954, is a Mid Cap company (having a market cap of Rs 9359.59 Crore) operating in Industrial Consumables sector.
Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 738.59 Crore, up 5.22 % from last quarter Total Income of Rs 701.95 Crore and up 12.98 % from last year same quarter Total Income of Rs 653.75 Crore. Company reported net profit after tax of Rs 82.33 Crore in latest quarter.
Investment Rationale
Carborundum Universal (CUMI) is part of the Murugappa group and is a leading manufacturer of abrasives, industrial ceramics, refractories, and electro minerals in India having application across diversified user industries. The company is expected to benefit from improving demand scenarios across its end user industries such as auto, auto components, engineering, basic metals, infrastructure, and power. While demand from the Auto sector has been robust the brokerage expects demand from metal industry pick up given increased economic activity
Promoter/FII Holdings
Promoters held 42.1 per cent stake in the company as of Jun 30, 2020, while FIIs held 6.6 per cent, DIIs 28 and public and others 23.4 per cent.
