1. Carborundum Universal posts consolidated fourth quarter net up at Rs 42.26 Crore

Carborundum Universal posts consolidated fourth quarter net up at Rs 42.26 Crore

Carborundum Universal Ltd, part of the diversified conglomerate Murugappa Group, has reported a marginal rise in net profits for the fourth quarter ending March 31, 2017 to Rs 42.26 crore.

By: | Published: May 9, 2017 6:02 PM
The city-based company had registered consolidated net profits at Rs 41.88 crore in the corresponding period last year.

Carborundum Universal Ltd, part of the diversified conglomerate Murugappa Group, has reported a marginal rise in net profits for the fourth quarter ending March 31, 2017 to Rs 42.26 crore. The city-based company had registered consolidated net profits at Rs 41.88 crore in the corresponding period last year. For the financial year ending March 31, 2017 consolidated net profits grew to Rs 164.69 crore from Rs 139.69 crore registered during the same period last year.

Total income from operations for the January-March 31, 2017 quarter surged to Rs 592.80 crore from Rs 530.90 crore registered in the same period last year, the company said in a BSE filing. Total income from operations for the year ending March 31, 2017 went upto Rs 2,232.34 crore from Rs 2,051.66 crore registered during the year ago period. On financial performance, the company said full year consolidated segmental profitability improved from abrasives and ceramics businesses on the back of higher sales volume.

On a consolidated level, the company spent Rs 127 crore on capital expenditure for the financial year ending March 31, 2017. Owing to healthy cash generation, the company was able to pay back all bank borrowings at the standalone level, resulting in nil bank borrowings. The debt-equity ratio at a consoilidated level was at 0.11 per cent, it said.

Abrasives business for the financial year ending March 31, 2017 reported sales of Rs 1,016 crore as compared to Rs 922 crore registered during same period of last year. Sales in electro-minerals business for the financial year ending March 31, 2017 went upto Rs 769 crore from Rs 749 crore registered during the year ago period. Business in ceramics division grew by 16 per cent in the year ending March 31, 2017 to Rs 472 crore from Rs 409 crore registered during same period of last year.

The Board of Directors have recommended a final dividend of Rs 0.75 per share with a face value of Re one per share. An interim dividend of Re one per share was declared at the meeting of the Board on February 4 and it has been paid, the company said. Shares of the company ended at Rs 298.35 apiece, up by 2.05 per cent over the previous close in the BSE.

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