Carborundum Universal - Domestic Demand Drove Q3 Performance: Anand Rathi

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Anand Rathi Report

Carborundum Universal Ltd.’s consolidated revenue (Rs 7.3 billion) surpassed our expectation (Rs 6.9 billion), up 13% YoY. This reflects a better (standalone) performance.

Overseas operations saw lower volumes, hit by the second wave of Covid-19 and container shortages.

The Ebitda margin was a robust 17.7%, led by prudent cost control and a favourable product mix.

With greater utilisation, focus on operational efficiencies, a favourable product mix and quitting the loss-making Foskor, management is confident of steady margins ahead.

It talked of strong coming industrial demand, opportunities from the government’s production linked incentive scheme.

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