Carborundum Universal

Abrasives and industrial ceramics-maker Carborundum Universal Ltd (CUMI) has reported a standalone net profit of Rs 71.75 crore for the quarter ending September 30, 2022, the company said on Saturday. The Chennai-based Murugappa Group company registered a standalone net of Rs 62.95 crore in the corresponding quarter last year, a press release said. For the six-month period ending September 30, the standalone net profit grew to Rs 144.59 crore from Rs 126 crore a year ago. The standalone total income for the quarter under review rose to Rs 623.76 crore from Rs 565.36 crore. For the half-year ending September 30, the standalone total income increased to Rs 1,242.93 crore from Rs 1,050.50 crore last fiscal, the company said.

Revenue spike driven by strong show in electro minerals and ceramics, and sales of Rs 141 crore by newly acquired subsidiaries

The capital expenditure incurred during the quarter was Rs 56 crore at the consolidated level

Revenue from abrasives for the quarter was flat at Rs 259 crore at both, the consolidated and the standalone levels

In CUMI, the definition of new product is those products which are developed during the year or which are developed in last three years

The US has imposed 10% duty on fused minerals from China and is looking at alternatives

Shares of the company closed at Rs 281.95 apiece at BSE, down 1.19 per cent over previous close

Around $15 million out of its consolidated business of $340 million comes from US at present

The company has moved to manufacturing in third party facilities for mid-range products, in China

Carborundum Universal (CUMI), part of Murugappa Group, today inaugurated its Research and Development centre in its Industrial Ceramics Division facility in Hosur, Tamil Nadu. The company did not disclose the investment details.The centre was inaugurated by MM Murugappan, Chairman of CUMI and Vice Chairman of Murugappa Group along with others. This new R&D Centre would further strengthen the platform of competency for sustainable growth & Market Leadership of Wear Resistance & Technical Ceramic products in selected segments.This facility boasts of advanced equipment for material characterisation, microstructural analysis, finished component analysis and other critical areas, supplementing the existing R&D activity of the unit, said the company in a press release.It is certified by the Department of Scientific and Industrial Research (DSIR) and it will be a Centre of Excellence for research in Technical Ceramics for Industrial & Advanced applications, and will serve

The stock surged 10% to Rs 254 on the BSE in early morning trade.