Broker research reports for stocks which have been upgraded by brokers. Both recommendation upgrades,
as well as share price target upgrades are available for companies in Industry - Abrasives & Bearings.
Broker Research reports: latest Upgrades
for Industry - Abrasives & Bearings
to cater to a broader customer base, while the Ceramics & Plastics segment continues to benefit from healthy domestic demand across precision grinding, glass grinding, defence, and industrial applications. Management's focus on application engineering, technical servicing, & innovation will position GWN favorably among competitors. However, persistent Chinese dumping in Abrasives and subdued export demand in the C&P segment remain key nearterm headwinds....
Carborundum Universal (CUMI) has reported revenue degrowth of 0.5% YoY at INR 12bn, EBITDA margin of 16.2% and profit of INR 1.1bn, down 0.2% YoY in Q1FY25.
Bottomline met expectations on a 4.7% beat in EBITDA.It is noteworthy that Scheffler continue to sustain momentum in exports as exports grew by 13.4% y-o-y and contributed 14.8% to topline in Q2CY24
Grindwell Norton (GWN) Q1FY24 reported a subdued set of numbers with consolidated revenue/EBITDA/PAT growing 4.8%/4.9%/4% YoY respectively. Revenue growth was led mainly by ceramics & plastics and IT businesses of the company. Abrasives revenue was flat YoY (CUMI Abrasives grew 5% YoY in Q1FY24), impacted by increased Chinese dumping and weak export demand, which are key monitorables for the near team.
Carborundum Universal (CUMI) has reported a good set of numbers in Q4FY23, with in line revenue performance, higher PAT on account of higher other income from JVs and associates. For full year FY23, consolidated revenue grew a whopping 40% YoY at Rs46.5bn (includes Rs6.9bn from the newly acquired European subsidiaries).
Grindwell Norton (GWN) delivered a healthy performance in Q3FY23 benefiting from revival in industrial demand and its recent acquisition, PRS Permacel. Consolidated revenues grew 20.3% YoY to Rs6bn in Q3FY23 – led by 39% YoY growth in ceramics & plastics (lower base), and 9% in abrasives.
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.
