Name: Latest research reports of Carborundum Universal Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: Carborundum Universal Ltd.
Rating: 5
Author: ICICI Securities Limited

Mixed Q3 performance

Buy: Carborundum Universal Ltd.

Target

ICICI Securities Limited

Carborundum Universal (CUMI) has reported a mixed set of numbers in Q3FY23 with in line revenue performance, while profitability was hit due to higher RM cost and losses at the newly-acquired subsidiaries. Consolidated revenue grew 32% YoY to Rs11.8bn (I-Sec: Rs11.8bn) led by 50% / 24% / 14% YoY growth in abrasives / ceramics/ electrominerals (EMD), respectively.