Carborundum Universal reports 11 per cent rise in FY20 profit at ₹275 crore

Murugappa Group company Carborundum Universal Ltd has reported a 54 per cent rise in its consolidated net profit after tax at ₹94 crore for the quarter ended December 31, 2020 when compared with ₹61 crore in the corresponding period of previous fiscal, helped by lower expenses amid a fall in revenue.

Total expenses were lower at ₹538 crore when compared with ₹611 crore in the year-ago period. Profit from operations before share of profit of equity accounted investees and income tax stood at ₹105 crore (₹92 crore).

Consolidated net sales reported a decline of 16 per cent at ₹586 crore as against ₹696 crore.

For the full-year ended March 31, 2020, its consolidated net profit after tax stood at ₹275 crore when compared with ₹248 crore in the previous fiscal, posting an increase of 11 per cent.

Its consolidated sales for 2019-20 fell 3 per cent to ₹2,569 crore from ₹2,656 crore. At the standalone level, the decrease was at 7 per cent from ₹1,752 crore to ₹1,623 crore.

“Full-year consolidated segmental profitability improved for ceramics business on the back of higher volumes and better product mix. Consolidated sales of ceramics business stood at ₹629 crore (₹604 crore), according to a company statement.

The gross debt-equity ratio for the Company is nil at a standalone level and 0.03 at a consolidated level. Cash and cash equivalents (net of borrowings) at the consolidated level stand at ₹298 crore.

The Board at its meeting held today has recommended that the interim dividend paid to be confirmed as the final dividend for the FY 2019-20.

Published on

June 06, 2020

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