Carborundum Universal Ltd.
Snapshot View

712.25 -1.80 ▼-0.3%

20 May 2022, 04:01:00 PM
Volume: 9,347

Overview View Details

Sector Abrasives Compare with Sector peers
Industry Abrasives Compare with Industry peers
Website http://www.cumi-murugappa.com
Market Cap 13,523.49 Cr.
Enterprise Value(EV) 13,383.17 Cr. 2022-03
Financial Indicators
Earnings per share (EPS) 17.56 Trailing Twelve Months Ending 2022-03
Price-Earning Ratio (PE) 40.57 Trailing Twelve Months Ending 2022-03
Industry PE 52.54 Trailing Twelve Months Ending 2022-03
Book Value / Share 124.38 Trailing Twelve Months Ending 2022-03
Price to Book Value 5.73 Calculated using Price: 712.25
Dividend Yield 0.49 Period Ending 2021-03
No. of Shares Subscribed 18.99 Cr. 189,856,703 Shares
FaceValue 1
Company Profile

Carborundum Universal Limited (CUMI) was founded in 1954 as a tripartite collaboration between the Murugappa Group, The Carborundum Co., USA and the Universal Grinding Wheel Co. Ltd., U.K.  With state-of-the art facilities and strategic alliances with global partners, CUMI has achieved a reputation for quality and innovation. CUMI is one of the five manufacturers in the world with fully integrated operations that include mining, fusioning, wind and hydro power stations, manufacturing, marketing and distribution. Almost all of CUMI’s manufacturing facilities have received the ISO 9001 accreditation for quality standards. A well connected marketing and distribution network of offices and warehouses in India and abroad, ensure that service to customers is given prime importance.

CUMI’s constant innovation and product upgradation, through in-house R&D and strategic alliances with global leaders in grinding technology, have not only ensured it market leadership in India and abroad, but also international recognition as a manufacturer of quality abrasives and a provider of total grinding solutions. CUMI’s products are being exported to more than 50 countries spread across North America, Europe, Australia, South Africa and Asia.

Business area of the company

The Company pioneered the manufacture of Coated Abrasives and Bonded Abrasives in India in addition to the manufacture of Super Refractories, Electro Minerals, Industrial Ceramics and Ceramic Fibres. Today, the Company’s range varieties of Abrasives, Ceramics, Refractory products and electro-minerals manufactured across several locations in and outside the country.

Abrasives: An Abrasive is a substance which grinds, cleans, scours, abrades or removes solid material by rubbing action or by impact. Abrasives are mineral like materials available in different shapes, sizes and types according to need. Abrasive materials and Abrasive products are utilized in several end user industries such as manufacture of Machinery, Electrical & Electronic equipment, Transportation and Metal fabrication among others.

Electro Minerals: The major product groups of this segment are Fused Alumina (comprising Brown and White Alumina), Silicon Carbide (crude, macro and fine), Fused Zirconia, Alumina Zirconia, Pearl Zirconia and Zircon Mullite. The Company also manufactures a range of ‘specialities’ like Semi Friable, Azure-S and fine powders for niche markets. The operations are carried out through eight manufacturing facilities located in India, Russia and South Africa.

Industrial Ceramics: The Ceramics product group offers products which harness the heat resistance / containment, wear resistance and insulation properties of ceramics and also corrosion resistance properties of various materials.

Super Refractories: Refractory is a material that will retain its shape and chemical identity when subjected to high temperatures and is used in applications that require extreme resistance to heat, such as furnace linings. Refractory products are basically used in industries for heat resistant and containment. CUMI’s manufactures Super Refractories (which can be in two forms fired refractories and monolithics) and also Refractory Fibre.

Awards and recognitions

2017-18

  • The Company’s Electro Minerals division received an award for ‘Strong Commitment to HR Excellence Award’ by the CII for the year 2017-18.
  • ICAI - Silver Award for Annual Report 2017-18 for Excellence in Financial Reporting
  • CUMI’s Annual Report for the Financial year 2017-18 has been adjudged as the Best Presented Annual Report among the Annual Reports published in the South Asian Countries.
  • In October 2017, the Company received the ‘Golden Peacock Award for Excellence in Corporate Governance’ for the year 2017.
  • The Company receiving the Runner up award in ‘Most Diversified Exporter’ category at the ECGC Indian Exporters’ Excellence Awards 2017.
  • In March 2018, the Industrial Ceramics division, Hosur Plant received the Japan Institute of Plant Management (JIPM) Award for TPM Excellence, Category A.
  • In March 2018, the Abrasives Division, Maraimalai Nagar received the Japan Institute of Plant Management (JIPM) Award for consistent TPM Commitment.
  • In March 2018, the Bonded Abrasives Division, Hosur Plant received the Japan Institute of Plant Management (JIPM) Award for TPM Excellence, Category A.
  • In March 2018, the Coated Abrasives Division, Sriperumbudur Plant received the Japan Institute of Plant Management (JIPM) Award for Excellence in Consistent TPM commitment.

2018-19

  • In March 2019, CUMI received the Golden Peacock Award instituted by the Institute of Directors under the category - Innovative Product for its Non-Woven products.
  • CUMI won 1st place in Young HR Managers Competition for South Region by CII. Category - Employee Engagement, initiative presented was Catalyst - CUMI’s Mentoring Platform
  • CUMI’s Annual Report for the Financial year 2018-19 has been adjudged by ICAI as winner in the category ‘Silver Shield’ of ICAI’s Awards for Excellence in Financial Reporting.
  • The Company’s Electro-minerals Division has received the IEI Centenary Excellence Award 2019, from Shri Nitin Gadkari, Minister for Road Transport & Highways of India, Shipping & MSME in a function held at Le Meridian, Delhi.

2019-20

  • In September 2019, CUMI Industrial Ceramics division was awarded the CSIR Diamond Jubilee Technology 2018 for the technology of Metallization of Ceramics.
  • CII Kai-Zen Award - Innovative Category; Carborundum Universal Limited, Maraimalai Nagar participated in Innovative Kaizen Category in the theme of “To develop Innovative New Resin for Abrasive Manufacturing through Robust Design Approach” Mr. G. Ananda Kumar and Mrs. C. Meenakshi participated and emerged as 2nd WINNER.
  • Maniyar Hydel plant won the ‘Safety Award 2019 for Outstanding Performance in Industrial Safety’’ from Kerala State Factories& Boilers Department under Small Factories category in March 2020.
  • CUMI-SEZ White Fused Alumina plant won the ‘Suraksha Puraskar’ from National Safety Council (Kerala Chapter) under Small Factories category in March 2020.
  • Maniyar Hydel plant won the ‘Sreshta Suraksha Puraskar’ from National Safety Council (Kerala Chapter) under Small Factories category in March 2020.

Milestones

1954 - 1963

  • Incorporated as a joint venture between Carborundum Company, USA.
  • Universal Grinding Wheel Company, UK and the Murugappa Group, India.
  • Acquired a Coated Abrasives facility from Ajax Products Pvt. Ltd.
  • Bonded Abrasives facility set up at Chennai, India.
  • Bauxite mining at Bhatia, Gujarat, India.

1964 - 1973

  • Manufacture of Super Refractories at Chennai, India.
  • Brown Aluminium Oxide grains plant at Edappally, India.
  • Calcination facility at Okha, Gujarat, India.

1974 - 1983

  • Acquisition of Eastern Abrasives Ltd, a Coated Abrasives manufacturer in Kolkata, India.
  • Second Bonded Abrasives plant at Hosur, near Bengaluru, India.
  • Established MMTCL as a joint venture with Morgan Group plc. for ceramic fibres.

1984 - 1993

  • Expansion of Bonded Abrasives plant at Hosur, India with a modern facility for vitrified grinding wheels.
  • Silicon Carbide plant at Koratty, India & Refractories plant at Ranipet, India.
  • Industrial Ceramics plant at Hosur, India.
  • Acquisition of 40% interest in Wendt (India) Ltd., a company manufacturing Super Abrasives.

1994 - 2003

  • 12 MW Hydel project at Maniyar, Kerala, India.
  • Second unit at Edapally, India for manufacture of Brown Aluminium Oxide grains.
  • Acquired a controlling interest in Sterling Abrasives Limited, Ahmedabad, India.
  • Acquired a controlling interest in Cutfast Abrasive Tools Limited and Cutfast Polymers Limited and subsequent mergers.
  • Established CUMI America Inc., USA & CUMI Australia Pty. Ltd.
  • Established a 5.5 MW natural gas based thermal power plant in Nallur, Tamil Nadu, India, through SEDCO.
  • Acquired Prodorite Anti-Corrosives Ltd., a leading player in anti-corrosion engineering.
  • Cloth processing facility at Maraimalainagar, Tamil Nadu.

2004 - 2013

  • Modern Silicon Carbide micro grit plant in Koratty, India.
  • Modern polymer manufacturing facility near Chennai, India.
  • Establishment of CUMI Middle East.
  • Establishment of state-of-the-art Coated Abrasives plant at Sriperumbudur, Chennai, India.
  • Acquisition of Monolothic Refractory facility in Jabalpur, India.
  • Acquisition of Volzhsky Abrasive Works, Russia.
  • Acquisition of 51% holding in Foskor Zirconia (Pty) Ltd, South Africa.
  • Establishment of world class facility for wear resistant liner tiles at Hosur, India.
  • Manufacturing facility for Thin Wheels at Uttarkhand, India.
  • Manufacturing facility for Power Tools at Jigani, Bengaluru, India.
  • Commissioning of a modern 1,000 tonne Vitrified Bonded Abrasives plant and
  • 2,000 tonne Organic Bonded Abrasives facility in China.
  • Establishment of state-of-the-art Metallised Cylinders plant at Hosur, India.
  • Establishment of state-of-the-art Super Refractories plant II at Serkaddu, India.
  • Setting up of a modern facility for manufacture of anti-corrosive products at Serkaddu, India.
  • Establishment of automated Silicon Carbide Micro Grit plant in Cochin SEZ, India.
  • Acquisition of Thukela Refractories Isithebe Pty Ltd, South Africa, a fused mineral manufacturing facility in South Africa.
  • Setting up of the Ceramic Foam Refractories plant at Kochi, in collaboration with Cellaris Ltd, Israel.

2014-2018

  • Establishment of CUMI Europe.
  • Commencement of Toll manufacturing model operations in China.
  • Amalgamation of Cellaris Refractories with CUMI.
  • Doubled the capacity of the Metallized Cylinder plant in Hosur, with the machinery and technology acquired from NTK, Japan.
  • A state-of-the-art Surface Technology Centre was opened at the Bonded Abrasives Plant at Tiruvottiyur.
  • Inaugurated a Centre of Excellence for Research in Technical Ceramics for industrial & advanced applications at Hosur, Tamil Nadu.
  • Commissioned three fusion plants at its Electro-mineral Complex at Kochi, Kerala.

Delivery View Details

Delivered Qty
Traded Qty

Performance View Details

1 Day
-0.25%
1 Week
-2.45%
1 Month
-3.82%
3 Month
-18.39%
6 Month
-21.17%
1 Year
+20.14%
2 Year
+248.20%
5 Year
+139.29%
10 Year
+373.89%
9 years 2013-03 2014-03 2015-03 2016-03 2017-03 2018-03 2019-03 2020-03 2021-03
Return on Equity (%) 9.00 8.81 12.63 12.27 12.82 13.95 13.90 14.42 14.00
Return on Capital Employed (%) 12.64 11.96 16.46 16.61 17.12 19.55 20.36 18.15 18.74
Return on Assets (%) 4.91 4.89 7.27 7.60 8.73 10.24 10.57 11.42 11.21

Balance Sheet View Details

Particulars 10 years 2013-03 Rs. Cr. 2014-03 Rs. Cr. 2015-03 Rs. Cr. 2016-03 Rs. Cr. 2017-03 Rs. Cr. 2018-03 Rs. Cr. 2019-03 Rs. Cr. 2020-03 Rs. Cr. 2021-03 Rs. Cr. 2022-03* Rs. Cr.
Shh. Funds 1,059 1,106 1,089 1,192 1,383 1,564 1,724 1,858 2,131 2,364
Non Curr. Liab. 252 242 102 84 52 43 40 25 32 73
Curr. Liab. 518 567 567 522 413 419 405 353 466 773
Minority Int. 74 70 58 62 66 61 52 46 46 86
Equity & Liab. 1,903 1,986 1,816 1,860 1,913 2,088 2,222 2,283 2,676 3,296
Non Curr. Assets 952 969 869 924 942 932 922 942 966 1,648
Curr. Assets 951 1,016 946 936 971 1,155 1,300 1,340 1,709 1,648
Misc. Exp. not W/O
Total Assets 1,903 1,986 1,816 1,860 1,913 2,088 2,222 2,283 2,676 3,296

Profit Loss View Details

Particulars 10 years 2013-03 Rs. Cr. 2014-03 Rs. Cr. 2015-03 Rs. Cr. 2016-03 Rs. Cr. 2017-03 Rs. Cr. 2018-03 Rs. Cr. 2019-03 Rs. Cr. 2020-03 Rs. Cr. 2021-03 Rs. Cr. 2022-03 Rs. Cr. TTM
Net Sales 1,971 2,125 2,050 1,944 2,112 2,368 2,689 2,599 2,632 3,325
Other Income 14 22 27 30 29 23 29 46 33 40
Total Income 1,985 2,148 2,077 1,974 2,141 2,391 2,717 2,645 2,665 3,365
Total Expenditure -1,735 -1,874 -1,787 -1,643 -1,784 -1,969 -2,252 -2,202 -2,168 -2,788
PBIDT 250 274 290 331 357 422 466 444 497 576
Interest -27 -28 -25 -23 -18 -9 -8 -6 -4 -6
Depreciation -71 -91 -100 -87 -96 -106 -108 -105 -99 -115
Taxation -62 -59 -82 -81 -78 -102 -121 -76 -102 -127
Exceptional Items 57 -14
PAT 90 95 138 140 165 205 228 257 278 330
Minority Interest 0 -4 -6 -11 -9 -4 0 -3 -9 -17
Share Associate 16 19 15 20 18 15 20
Other Related Items
Consolidated Net Profit 90 92 133 144 175 216 248 272 284 333
Adjusted EPS 5 5 7 8 9 11 13 14 15 18

Cash Flow View Details

Particulars 10 years 2012-03 Rs. Cr. 2013-03 Rs. Cr. 2014-03 Rs. Cr. 2015-03 Rs. Cr. 2016-03 Rs. Cr. 2017-03 Rs. Cr. 2018-03 Rs. Cr. 2019-03 Rs. Cr. 2020-03 Rs. Cr. 2021-03 Rs. Cr.
Cash Fr. Operatn. 236 195 153 326 178 295 213 202 407 451
Cash Fr. Inv. -98 -205 -95 -7 -73 -81 -75 -80 -93 -269
Cash Fr. Finan. -86 -29 -37 -162 -86 -207 -83 -109 -135 -66
Net Change 51 -39 22 157 20 7 55 13 179 115
Cash & Cash Eqvt 147 109 103 131 114 130 185 192 360 478

Shareholding Pattern View Details

9 Qtrs 2020-03 (%) 2020-06 (%) 2020-09 (%) 2020-12 (%) 2021-03 (%) 2021-06 (%) 2021-09 (%) 2021-12 (%) 2022-03 (%)
Promoter 42.05 42.05 42.04 42.04 42.01 42.00 41.96 41.96 41.94
Public 57.95 57.95 57.96 57.96 57.99 58.00 58.04 58.04 58.06
Depository Receipts 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Promoter Holding Pledge (%) 0.04 0.02 0.02 0.02 0.02 0.02 0.02 0.14 0.14

Announcements View Details

Sat, 21 May 2022
Disclosures under Reg. 29(2) of SEBI (SAST) Regulations 2011
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations 2011 for HDFC Trustee Company Ltd & Others
Sat, 21 May 2022
Disclosures under Reg. 29(2) of SEBI (SAST) Regulations 2011
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations 2011 for SBI Mutual Fund
Fri, 20 May 2022
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
Earnings call Transcript held on 16th may 2022

Technical Scans View Details

Fri, 20 May 2022
Higher Delivery Quantity Higher Delivery Quantity
Higher Trade Quantity Higher Trade Quantity
Higher Trade and Delivery Quantity Higher Trade and Delivery Quantity
High Decrease 3 Months High Decrease 3 Months
High Decrease 6 Months High Decrease 6 Months

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