Arthneeti

Carborundum Universal Q1 FY27 Share Price & Earnings Call Analysis

₹1,030.30-5.15% today
Market cap
₹19,630 Cr
P/E
78.27
ROE
6.92%
PEG
-5.73
Price to sales
3.63
Debt to equity
0.11
52W high / low
₹1,296 / ₹748
Sales growth (5Y)
14.62%
EBITDA margin
10.95%
Net profit margin
4.42%
Promoter holding
38.90%
Sales (last year)
₹5,414 Cr

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

Guidance scorecard · Q1 FY27 call

What Carborundum Universal Ltd's management guided
and where it ranks in Industrial Products

#97of 100 in
Industrial Products
Revenue10–20%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ1 FY27 call

10–20%
  • Consolidated sales expected to grow 11%-12% excluding Foskor Zirconia and Awuko; potentially 15% growth based on current orders.
  • Abrasives sales growth guidance at 5.5%-6%, or 11%-12% excluding Awuko.
  • Ceramics sales growth revised up from 15%-15.5% to 23%-25% for FY'27.
  • Electrominerals sales expected to grow 8%-10% excluding Foskor closure.
  • Volume-driven growth predominant in Abrasives and Ceramics, with only small price increases.
  • Ceramics growth driven by solid oxide fuel cells (SOFC), metallized cylinders, engineered ceramics.

2 more points from Carborundum Universal Ltd's call on revenue

Create a free account to keep reading this call

Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what Carborundum Universal Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • The company has retained its CAPEX guidance of about Rs 400 crores for FY'27.
  • CAPEX includes expansion in advanced ceramics for power electronics such as substrates, metallized tubes, rings, and brazed assemblies.
  • Investment in expansion of brown-fused alumina production capacity.
  • Addition of integrated furnace facility for thermal spray powders and a zirconia furnace.
  • Expansion of capabilities related to semiconductor products, including moving towards 6N purity powder and setting up metallized substrate capacity, with benefits expected from FY'28 onwards.
  • Focused on CAPEX programs aligned with long-term strategy and tracking well to planned trajectory.

2 more points from Carborundum Universal Ltd's call on capex

Create a free account to keep reading this call

Full Q1 FY27 analysis

FundraisingQ1 FY27 call

See what Carborundum Universal Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

  • The refractory business is project-based, and Q1 is generally a lower quarter for refractories, indicating a project backlog or pending orders cycle.
  • Awuko Abrasives is operating to fulfill existing orders while going through voluntary winding up.
  • The company is seeing growth and benefits from new programs (long-term strategy) starting to materialize.
  • Several product segments, including ceramics and electrominerals, are seeing volume-driven growth, implying a healthy order inflow.

2 more points from Carborundum Universal Ltd's call on the order book

Create a free account to keep reading this call

Full Q1 FY27 analysis
Full Industrial Products ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Industrial Products
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Carborundum Universal Ltd rank?

Portfolio builder

Build your portfolio
from the top-ranked stocks

  1. 1. Pick 3–15 stocks
  2. 2. Choose large, mid or small cap and your sectors
  3. 3. Get a portfolio built from the rankings
Build my portfolio

Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Industrial Products companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹532 Cr21.2
240%+Up 2%+₹450 Cr13.2
340%+Up 2%+₹371 Cr26.1
440%+Up 0–2%₹1,340 Cr32.9
540%+Up 0–2%₹1,196 Cr14.1
640%+Flat₹966 Cr25.0

Sign up free to see every company in the sector ranking and track Carborundum Universal Ltd.

Pro shows every company guiding 40%+ revenue growth →Full Industrial Products ranking

Financials of Carborundum Universal Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Carborundum Universal Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +41.27%41.24%41.16%41.05%39.82%39.82%39.23%38.96%38.90%38.89%38.90%38.85%
FIIs +10.63%11.72%12.76%12.71%13.01%12.11%11.81%10.87%10.98%10.73%11.13%11.09%
DIIs +29.84%29.06%28.24%28.03%28.18%28.86%29.22%29.82%30.01%29.45%29.05%28.76%
Government +0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%
Public +18.24%17.99%17.80%18.20%18.97%19.21%19.74%20.34%20.10%20.91%20.91%21.30%
No. of Shareholders56,66952,94364,34267,73469,30071,71169,83469,08362,42765,91464,97768,278

Financials of Carborundum Universal Ltd

Quarterly Results

Quarter-by-quarter operating performance

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales +1,2031,1461,1511,2011,1981,2241,2551,2171,2191,2981,2911,3981,427
Expenses +1,0349799609921,0041,0291,0781,0711,0981,1421,1341,2541,292
Operating Profit169168191209194195177146121156157144135
OPM %14%15%17%17%16%16%14%12%10%12%12%10%9%
Other Income +413125251923-7718272322-10355
Interest5554344334566
Depreciation46464851515253565962616566
Profit before tax1601481631801581624310586113113-30119
Tax %26%30%31%21%27%28%13%71%30%34%35%34%33%
Net Profit +1181041121431151163830607473-4080
EPS in Rs5.965.365.867.095.946.091.831.533.253.913.99-0.924.01

Financials of Carborundum Universal Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +2,0421,9442,1122,3742,6892,5992,6323,3254,6544,7024,8945,2065,414
Expenses +1,8081,6361,7771,9752,2502,1992,1662,7843,9993,9614,1784,6244,821
Operating Profit234308336400439400466540655741717582593
OPM %11%16%16%17%16%15%18%16%14%16%15%11%11%
Other Income +11239413746623256136118-23-35-3
Interest252318986462418141921
Depreciation100879610610810599115187191212247253
Profit before tax220237262322369351395477580650468282315
Tax %37%34%30%32%33%22%26%27%24%27%36%40%
Net Profit +138155184220248275293350442476299168188
EPS in Rs7.057.659.2711.4113.0914.3815.0017.5621.8024.2415.3710.2210.99
Dividend Payout %18%20%19%20%21%19%20%20%16%16%26%39%

Financials of Carborundum Universal Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital191919191919191919191919
Reserves1,0701,1731,3641,5451,7051,8392,1132,3452,8023,1073,5103,881
Borrowings +340320156129977062240277172216413
Other Liabilities +387348374394401354486692774793835959
Total Liabilities1,8161,8601,9132,0882,2222,2832,6793,2963,8724,0914,5805,271
Fixed Assets +7936597057366957487771,0061,5271,5551,7161,906
CWIP43857330463928588784118141
Investments41131124180227189127138161172201199
Other Assets +9389851,0111,1411,2541,3071,7472,0942,0962,2802,5443,025
Total Assets1,8161,8601,9132,0882,2222,2832,6793,2963,8724,0914,5805,271

Financials of Carborundum Universal Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +326178295213202407451245430602304367
Cash from Investing Activity +-136-75-72-75-85-105-266-465-248-229-371-167
Cash from Financing Activity +-162-86-207-83-109-135-6689-133-214-110119
Net Cash Flow281716557168119-13149159-177320
Free Cash Flow33996190121107284348-3151303672860
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit169%85%111%81%73%127%119%70%90%109%70%93%

Financials of Carborundum Universal Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days666966737056665349535762
Inventory Days198198192199204209187218191183215200
Days Payable87728290808012311772737176
Cash Conversion Cycle177196176182194185130154169163201187
Working Capital Days445674859588775770739775
ROCE %10%17%18%20%21%18%19%20%20%20%16%11%

Guidance history

How Carborundum Universal Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%FlatPlanned——
Q4 FY26 call →10–20%FlatPlanned—Rising
Q3 FY26 call →0–10%FlatPlanned—Rising
Q2 FY26 call →10–20%FlatPlanned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

33out of 100

Momentum score · price trend

33 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months+11.3%70%
Last 6 months+8.3%67%
Last 3 months−3.1%61%

The price is 41.9% below its all-time high of ₹1,773.95 (14 Jun 2024). Stocks more than 20% below their peak have their score halved, so 67 became 33.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Carborundum Universal Ltd: 0.4 × 70 + 0.4 × 67 + 0.2 × 61 = 67, halved to 33 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Carborundum Universal Ltd's management said in earlier quarters

Others in Industrial Products this season

  • Captain Polyplast Ltd (Q2 FY27)

    32.9% increase . Key results statement takeaways from Captain Polyplast Ltd's Q2 FY27 results statement — and how it ranks against sector peers.

  • Shyam Metalics & Energy Ltd (Q2 FY27)

    Q2 FY27 Revenue:** ₹5,960.2 crore, up 33.4% YoY (Page 38) . Key investor presentation takeaways from Shyam Metalics & Energy Ltd's Q2 FY27 investor presentation

  • Ratnaveer Precision Engineering Ltd (Q2 FY27)

    Q2 FY27 Revenue: ₹3,872.37 million . Key investor presentation takeaways from Ratnaveer Precision Engineering Ltd's Q2 FY27 investor presentation — and how it r

  • HEG Advanced Materials Ltd (Q2 FY27)

    For the quarter ended September 30, 2026, HEG Limited reported total revenue from operations of ₹1,520.64 crores. Key results statement takeaways from HEG Advan

Compare:vs Cummins Indiavs Polycab Indiavs Welspun Corp Ltd