MarketFriction

Carborundum Universal Ltd

NSE CARBORUNIV · BSE 513375 · Abrasives & Bearings
₹1,239.70 -1.02%
NSE close2026-10-01
52 week range735.20 - 1,368.90
Market cap₹22,870 Cr.
P/E91.2
Nifty 500Smallcap 250 Price band 20% Delivery 41.6%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,1461,1511,2011,1981,2241,2551,2171,2191,2981,2911,3981,427
Expenses9799609921,0041,0291,0781,0711,0981,1421,1341,2541,292
Operating Profit168191209194195177146121156157144135
OPM %15%17%17%16%16%14%12%10%12%12%10%9%
Other Income3125251923-7718272322-10355
Interest554344334566
Depreciation464851515253565962616566
Profit before tax1481631801581624310586113113-30119
Tax %30%31%21%27%28%13%71%30%34%35%34%33%
Net Profit1041121431151163830607473-4080
EPS in Rs5.365.867.095.946.091.831.533.253.913.99-0.924.01
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,9442,1122,3742,6892,5992,6323,3254,6544,7024,8945,2065,414
Expenses1,6361,7771,9752,2502,1992,1662,7843,9993,9614,1784,6244,821
Operating Profit308336400439400466540655741717582593
OPM %16%16%17%16%15%18%16%14%16%15%11%11%
Other Income39413746623256136118-23-35-3
Interest2318986462418141921
Depreciation879610610810599115187191212247253
Profit before tax237262322369351395477580650468282315
Tax %34%30%32%33%22%26%27%24%27%36%40%
Net Profit155184220248275293350442476299168188
EPS in Rs7.659.2711.4113.0914.3815.0017.5621.8024.2415.3710.2210.99
Dividend Payout %20%19%20%21%19%20%20%16%16%26%39%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth10%15%4%10%
Compounded Profit Growth6%-3%-14%-14%
Stock Price CAGR16%7%1%30%
Return on Equity13%12%11%7%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital191919191919191919191919
Reserves1,0701,1731,3641,5451,7051,8392,1132,3452,8023,1073,5103,881
Borrowings340320156129977062240277172216413
Other Liabilities387348374394401354486692774793835959
Total Liabilities1,8161,8601,9132,0882,2222,2832,6793,2963,8724,0914,5805,271
Fixed Assets7936597057366957487771,0061,5271,5551,7161,906
CWIP43857330463928588784118141
Investments41131124180227189127138161172201199
Other Assets9389851,0111,1411,2541,3071,7472,0942,0962,2802,5443,025
Total Assets1,8161,8601,9132,0882,2222,2832,6793,2963,8724,0914,5805,271
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity326178295213202407451245430602304367
Cash from Investing Activity-136-75-72-75-85-105-266-465-248-229-371-167
Cash from Financing Activity-162-86-207-83-109-135-6689-133-214-110119
Net Cash Flow281716557168119-13149159-177320
Free Cash Flow33996190121107284348-3151303672860
CFO/OP169%85%111%81%73%127%119%70%90%109%70%93%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days666966737056665349535762
Inventory Days198198192199204209187218191183215200
Days Payable87728290808012311772737176
Cash Conversion Cycle177196176182194185130154169163201187
Working Capital Days445674859588775770739775
ROCE %10%17%18%20%21%18%19%20%20%20%16%11%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters41.28%41.27%41.24%41.16%41.05%39.82%39.82%39.23%38.96%38.90%38.89%38.90%
FIIs10.15%10.63%11.72%12.76%12.71%13.01%12.11%11.81%10.87%10.98%10.73%11.13%
DIIs29.74%29.84%29.06%28.24%28.03%28.18%28.86%29.22%29.82%30.01%29.45%29.05%
Government0.03%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%
Public18.80%18.24%17.99%17.80%18.20%18.97%19.21%19.74%20.34%20.10%20.91%20.91%
No. of Shareholders57,10156,66952,94364,34267,73469,30071,71169,83469,08362,42765,91464,977

Fundamentals

Market Cap₹ 22,870 Cr.
Current Price₹ 1,200
Stock P/E91.2
Book Value₹ 205
ROCE10.5 %
ROE6.92 %
Dividend Yield0.33 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)10%
Compounded Profit Growth (TTM)-14%
Consolidated figures.
Valuation
Market capRs 23,615 Cr
Enterprise valueRs 23,327 Cr
P/E (TTM)112.86x
Price to book6.06x
Price to sales4.36x
EV / EBITDA39.57x
EV / EBIT69.40x
EV / sales4.31x
Price to cash flow64.28x
Earnings yield0.89%
Dividend yield0.32%
P/E, 3-year average64.72x
P/B, 3-year average5.66x
P/E, 5-year average56.97x
P/B, 5-year average6.01x
Profitability
Operating margin (excl. other income)11.18%
Operating margin (incl. other income)10.51%
EBITDA margin10.89%
Pre-tax margin5.82%
Net profit margin3.86%
Net margin, latest quarter5.36%
ROE5.24%
ROCE7.46%
ROA3.95%
ROE, 3-year average9.85%
ROCE, 3-year average14.02%
ROA, 3-year average7.43%
ROE, 5-year average12.07%
ROCE, 5-year average16.66%
ROA, 5-year average9.00%
ROIC (approx.)5.54%
Tax rate40.43%
Other income / net worth-0.90%
Growth
Sales growth (latest year)6.38%
Profit growth (latest year)-33.48%
Sales CAGR, 3 years3.81%
Sales CAGR, 5 years14.62%
Profit CAGR, 3 years-22.23%
Profit CAGR, 5 years-7.29%
Sales growth QoQ2.02%
Sales growth YoY (latest quarter)17.03%
Profit growth YoY (latest quarter)23.44%
Per share
EPS (TTM)Rs 10.98
EPS (latest year)Rs 10.22
EPS (latest quarter)Rs 4.01
EPS, 3-year averageRs 16.61
EPS, 5-year averageRs 17.84
Book value per shareRs 204.72
Sales per shareRs 284.21
Cash flow per shareRs 19.28
Free cash flow per shareRs 3.15
Dividend per share (latest year)Rs 4.00
Dividend per share, 3-year averageRs 4.00
Dividend per share, 5-year averageRs 3.80
Dividends
Dividend payout39.13%
Dividend payout, 3-year average27.22%
Dividend payout, 5-year average23.53%
Efficiency
Asset turnover0.99x
Fixed asset turnover2.73x
Inventory turnover2.87x
Inventory days127 days
Debtor days62 days
Debtors turnover5.84x
Creditor days76 days
Cash conversion cycle187 days
Working capital days75 days
Leverage
Total debtRs 413 Cr
Cash and bankRs 700 Cr
Net debtRs -288 Cr
Debt to equity0.11x
Net debt / EBITDA-0.49x
Interest coverage15.95x
Current ratio (filing 2026-03-31)2.67x
Quick ratio (filing 2026-03-31)1.62x
Trade payables (filing 2026-03-31)Rs 422 Cr
Owners' fund to total sources73.98%
Debt to assets7.83%
Cash flow
Cash from Operating Activity (latest year)Rs 367 Cr
Cash from Investing Activity (latest year)Rs -167 Cr
Cash from Financing Activity (latest year)Rs 119 Cr
Net Cash Flow (latest year)Rs 320 Cr
Free cash flow (latest year)Rs 60 Cr
FCFE (approx.: FCF + change in debt)Rs 256 Cr
Cash from ops / profit, 5 years1.12x
Sales to cash flow14.17x
Statement figures
Net sales (TTM)Rs 5,414 Cr
Net sales (latest year)Rs 5,206 Cr
Sales (latest quarter)Rs 1,427 Cr
Operating profit excl. other income (latest year)Rs 582 Cr
Operating profit (latest quarter)Rs 135 Cr
Other income (TTM)Rs -3 Cr
EBITDA (TTM)Rs 590 Cr
PBDT (TTM)Rs 568 Cr
Profit before tax (TTM)Rs 315 Cr
Tax (latest year)Rs 114 Cr
Net profit (TTM)Rs 209 Cr
Net profit (latest year)Rs 195 Cr
Net profit (latest quarter)Rs 76 Cr
Depreciation (TTM)Rs 253 Cr
Depreciation (latest quarter)Rs 66 Cr
Interest (TTM)Rs 21 Cr
Cost of goods sold (latest year)Rs 3,203 Cr
Total expenditure (latest year)Rs 4,624 Cr
Total income (latest year)Rs 5,171 Cr
Share capitalRs 19 Cr
ReservesRs 3,881 Cr
Shareholders' fundsRs 3,900 Cr
Total assetsRs 5,271 Cr
Net blockRs 1,906 Cr
Capital work in progressRs 141 Cr
InvestmentsRs 199 Cr
ReceivablesRs 891 Cr
InventoryRs 1,117 Cr
Other liabilitiesRs 959 Cr
Shares outstanding (crore)19.05
Ownership
Promoter holding38.90% (-0.33 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 112.9 is at the 97th percentile of its own 9.4-year range (median 48.5, low 17.0, high 115.3).
P/B 6.06 is at the 59th percentile (median 5.21).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodCARBORUNIVNifty 50Difference
1 week-4.4%-2.8% -1.6 pts
1 month+12.6%-6.8% +19.4 pts
3 months+8.8%-7.6% +16.4 pts
6 months+59.8%+0.4% +59.4 pts
1 year+30.4%-9.9% +40.3 pts
2 years-17.5%-13.6% -3.9 pts
3 years+5.3%+14.2% -8.8 pts
5 years+42.0%+27.9% +14.1 pts
117 mutual fund schemes hold about ₹6,448 Cr. Over three months 7 bought more and 107 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
SBI Small Cap Fund1.28%547 -19%
Nippon India Small Cap Fund0.55%451 -17%
SBI Multicap Fund1.58%388 -17%
Nippon India Growth Mid Cap Fund0.66%343 -19%
SBI Midcap Fund1.35%332 -15%
SBI Midcap Fund1.35%330 -15%
Tata Small Cap Fund2.02%264 -17%
Kotak Small Cap Fund1.33%263 -18%
SBI Contra Fund0.42%201 -14%
Axis Small Cap Fund0.64%200 -19%
SBI Flexicap Fund0.84%196 -16%
SBI Balanced Advantage Fund0.42%177 -14%
Nippon India Power & Infra Fund2.04%164 -15%
ICICI Pru Small Cap Fund1.36%134 -26%
ICICI Pru Small Cap Fund1.36%130 -26%
Invesco India Smallcap Fund0.81%127 -27%
Invesco India Large & Mid Cap Fund0.89%105 -22%
ICICI Pru Manufacturing Fund1.45%104 -18%
DSP India T.I.G.E.R Fund1.45%93 -18%
HSBC Small Cap Fund0.47%90 -19%
Aditya Birla SL Balanced Advantage Fund0.81%82 -19%
SBI Infrastructure Fund1.55%74 -13%
HDFC Small Cap Fund0.17%72 -17%
HDFC Multi Cap Fund0.34%71 -15%
HDFC Children's Fund(Lock in)0.64%69 -15%

Red flags

F-score 4 of 8
explainDebt up, profit down Borrowings up 91% while net profit fell in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2022-02-10NARAYANAN ANANTHASESHANKey Managerial Personnelother4,000Rs 0.10 CrESOP
2022-02-04NARAYANAN ANANTHASESHANKey Managerial Personnelother20,748Rs 0.53 CrESOP
2022-02-04Rajeev Singhal-other1,540Rs 0.02 CrESOP
2022-02-04Rajeev Singhal-other5,200Rs 0.08 CrESOP
2022-02-04Rajendran V G-other10,174Rs 0.37 CrESOP
2022-02-04NARAYANAN ANANTHASESHANKey Managerial Personnelother6,000Rs 0.15 CrESOP
2021-12-31Rajendran V GEmployees/Designated Employeother10,174Rs 0.37 CrESOP
2021-11-29A A Alagammai trustee of M/s. LaPromoter Groupother100,000Rs 8.94 CrPledge Creation
2021-10-28Vijayalakshmi D-other7,000Rs 0.22 CrESOP
2021-09-07Narayanan AnanthaseshanKey Managerial Personnelother12,000Rs 0.31 CrESOP
2021-09-07Sivakumaran M V-other5,000Rs 0.13 CrESOP
2021-09-01Ninad Mukund Gadgil-sell15,000Rs 1.23 CrMarket Sale
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹1,427 Cr +17.1% vs Jun 2025. Net profit ₹80 Cr +33.3%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-07-31Dividend - Rs 2.50 Per Share
2026-02-04Interim Dividend - Rs 1.50 Per Share
2025-07-31Dividend - Rs 2.50 Per Share
2025-02-18Interim Dividend - Rs 1.50 Per Share
2024-07-22Annual General Meeting/Dividend - Rs 2.50 Per Share
2024-02-12Interim Dividend - Rs 1.50 Per Share
2023-07-25Annual General Meeting/Dividend - Rs 2 Per Share
2023-02-10Interim Dividend - Rs 1.50 Per Share
2022-07-21Annual General Meeting/Dividend - Rs 2 Per Share
2022-02-21Interim Dividend - Rs 1.50 Per Share
2021-07-22 Annual General Meeting/Dividend - Rs 1.50 Per Share
2021-02-11 Interim Dividend - Rs 1.50 Per Share
2020-03-04 Interim Dividend - Rs 2.75 Per Share
2019-07-22 Dividend - Rs 1.25 Per Share
2019-02-12 Interim Dividend - Rs 1.50 Per Share
2018-07-25 Dividend- Rs 1.25 Per Share
2018-02-23 Interim Dividend - Re 1 Per Share
2017-07-20 Dividend - Re 0.75 Per Share
2017-02-14 Interim Dividend Re 1/- Per Share
2016-03-17 Interim Dividend - Re 0.50/- Per Share (Purpose Revised)
2016-02-16 Interim Dividend - Re 1/- Per Share
2015-07-21Annual General Meeting/Dividend Re 0.50 Per Share
2015-02-09Interim Dividend - Re 0.75/- Per Share
2014-07-17Annual General Meeting/Final Dividend Re.0.50 Per Equity Share
2014-02-11Interim Dividend Re 0.75/- Per Share
2013-07-17Annual General Meeting/Final Dividend Re.0.75 Per Equity Share
2013-02-14Interim Dividend Re 0.50 Per Share
2012-07-26Dividend Re 1 Per Share
2012-02-15Interim Dividend Re.1/- Per Share
2011-10-05Face Value Split From Rs.2/- To Re.1/-0.5000
2011-07-22Dividend-Re.1/- Per Share
2011-02-14Interim Dividend-Rs.1.50 Per Share
2010-07-14Dividend-Rs.2/- Per Share
2009-07-15Dividend-Rs.2/- Per Share
2008-07-08Dividend - 100%
2007-07-12Final Dividend - 75% Bc End Date Revised
2006-07-12Dividend-60%
DateTypeWhat it says
2026-09-30General UpdatesCapital infusion in CUMI international Limited, Wholly owned subsidiary.
2026-09-18General UpdatesEnvironment, Social and Governance ( ESG ) rating by Niche Ninety Nine Capability and Certifications (OPC) Private Limited.
2026-09-07AppointmentAppointment of Mr. Sriram Seshadri as Chief Financial Officer & KMP of the Company w.e.f. September 07, 2026.
2026-08-25General UpdatesEnvironment, Social and Governance ( ESG ) rating by Crisil ESG Ratings & Analytics Limited
2026-08-14Concall / analyst meetTranscript of the Investor call held on Aug 10, 206.
2026-08-10Concall / analyst meetLink of audio Recording of the Investor call held today.
2026-08-07ESOPAllotment of 6882 equity Shares under ESOP Plan 2016.
2026-08-07Shareholder meetingProceedings of Annual General Meeting held on August 07, 2026
2026-08-07Press ReleaseA press release dated August 07, 2026, titled "Unaudited financial results for the quarter ended June 30, 2026".
2026-08-07Board meeting outcomeCarborundum Universal Limited has submitted to the Exchange, the unaudited financial results for the quarter ended Jun 30, 2026.
2026-07-31ESOPAllotment of 5000 equity Shares under ESOP Plan 2016.
2026-07-30Concall / analyst meetAnalyst concall.
2026-07-16UpdatesBusiness Responsibility and Sustainable Report.
2026-07-16Shareholder meetingNotice of Annual General Meeting to be held on August 07, 2026
2026-06-26ResignationResignation of Director/KMP/SMP
2026-06-26ResignationStepping down of Mr. Ajit Kolhe as Head- Information Technology of the company w.e.f. Jun 26, 2026.
2026-06-17Disclosure under SEBI TakeovAmbadi Investments Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) and 31 (5) of the Securities and Exchange Board o...
2026-05-27AcquisitionCompletion of the acquisition of 29.58% equity stake in Putrim Renewables Private Limited.
2026-05-21Concall / analyst meetTranscript of the Investors call held on May 15, 2026.
2026-05-15Concall / analyst meetLink of Recording
2026-05-14General UpdatesDisclosure under Regulation 30(9) of SEBI Listing Regulations, 2015.
2026-05-14ESOPAllotment of 1000 equity Shares.
2026-05-14Press ReleaseA press release dated May 14, 2026, titled "Audited Financial results for quarter/year ended March 31, 2026".
2026-05-14DividendBoard of Directors at its meeting held on May 14, 2026, recommended Final Dividend of Rs. 2.50 per equity share.
2026-05-14Record DateRecord date for the purpose of Final Dividend is 31-Jul-2026.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2019-01-16NCLTCarborundum Universal Ltd Vs Wendt (India) Ltd and 8 others
2019-01-14NCLATWendt (India) Ltd. VS Carborundum Universal Ltd. & Ors.
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Scrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of Carborundum Universal Ltd?

Carborundum Universal Ltd (CARBORUNIV) has a market capitalisation of Rs 22,870 Cr. at the 2026-10-01 close.

What is the P/E ratio of Carborundum Universal Ltd?

Carborundum Universal Ltd trades at a P/E of 91.2 on trailing twelve-month profit, at the 2026-10-01 close.

What were Carborundum Universal Ltd's latest quarterly results?

In the Jun 2026 quarter, Carborundum Universal Ltd sales was Rs 1,427 Cr (+17.1% vs Jun 2025) and net profit was Rs 80 Cr.

What is the 52-week high and low of Carborundum Universal Ltd?

The 52-week high is Rs 1,368.90 and the 52-week low is Rs 735.20.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03