Carborundum Universal’s Full Year 2020-21 Consolidated Sales up by 1% Consolidated PAT up by 4%
Carborundum Universal’s Full Year 2020-21
Consolidated Sales up by 1%
Consolidated PAT up by 4%
Chennai, 28th April 2021 The Board of Directors met today and approved the results for the year ended 31st March 2021.
Consolidated sales for the year, increased by 1 percent to Rs.2604 Crores from Rs.2569 Crores in the last year, driven by steady performance across business segments. At the standalone level, sales was higher by 2 percent.
On a consolidated basis, segmental profitability for the year recorded growth across all the business segments. Profit after tax and non-controlling interest increased by 4% to Rs.284 Crores (LY Rs.272 Crores).
The capital expenditure incurred during the year 2020-21 was Rs.103 Crores. The gross debt equity ratio for the Company, is nil at a standalone level and 0.02 at a consolidated level. Cash and cash equivalents including short term deposits (net of borrowings) at the consolidated level stands at Rs.647 Crores.
Consolidated Segmental Operating Performance
Segment Revenue for the year at a consolidated level was marginally lower at Rs.993 Crores compared to Rs.995 Crores during last year. Standalone Abrasives grew from Rs.815 Crores to Rs.818 Crores during the current year.
Profit before finance costs and tax for the year increased to Rs.134 Crores from Rs.113 Crores on the back of better volumes, margins and product mix. Standalone Abrasives alongwith domestic subsidiary - Sterling Abrasives, contributed to the growth.
Segment Revenue at a consolidated level was higher at Rs.1064 Crores versus Rs.1026 Crores of last year. Standalone Electro Minerals business, Volzhsky Abrasives Works, Russia and Foskor Zirconia Limited, South Africa registered good growth.
Profit before finance costs and tax increased to Rs.136 Crores from Rs.104 Crores in last year indicating a growth of 30% on the back of better volume and cost management in the domestic Electro Minerals Segment as well as consistent performance by Russian subsidiary.
Consolidated revenue marginally declined by 0.3% to Rs.627 Crores from Rs.629 Crores in the last year. The decline in standalone and Australian subsidiary was off-set by good growth in Volzhsky Abrasives Works, Russia.
Profit before finance costs and tax grew to Rs.136 Crores from Rs.132 Crores on the back of favorable product mix and better cost management.
The Board of Directors of the Company at its meeting held on 28th April 2021 has recommended a final dividend of Rs.1.50/- per share (150% on face value of Re.1) to the shareholders of the Company. The Company had earlier paid an interim dividend of Re.1.50/- per share.
About Murugappa Group
Founded in 1900, the INR 381 Billion (38,105 Crores) Murugappa Group is one of India's leading business conglomerates. The Group has 29 businesses including ten listed Companies traded in NSE & BSE. Headquartered in Chennai, the major Companies of the Group include Carborundum Universal Ltd., CG Power and Industrial Solutions Ltd., Cholamandalam Financial Holdings Ltd., Cholamandalam Investment and Finance Company Ltd., Cholamandalam MS General Insurance Company Ltd., Coromandel International Ltd., Coromandel Engineering Company Ltd., E.I.D. Parry (India) Ltd., Parry Agro Industries Ltd., Shanthi Gears Ltd., Tube Investments of India Ltd. and Wendt (India) Ltd.
Market leaders in served segments including Abrasives, Auto Components, Transmission systems, Cycles, Sugar, Farm Inputs, Fertilisers, Plantations, Bio-products and Nutraceuticals, the Group has forged strong alliances with leading international companies such as Groupe Chimique Tunisien, Foskor, Mitsui Sumitomo, Morgan Advanced Materials, Sociedad Química y Minera de Chile (SQM), Yanmar & Co. and Compagnie Des Phosphat De Gafsa (CPG). The Group has a wide geographical presence all over India and spanning 6 continents.
Renowned brands like BSA, Hercules, Montra, Mach City, Ballmaster, Ajax, Parry’s, Chola, Gromor, Shanthi Gears and Paramfos are from the Murugappa stable. The Group fosters an environment of professionalism and has a workforce of over 51,000 employees.
For more details, visit www.murugappa.com