Carborundum Universal Ltd, a manufacturer of abrasives and industrial ceramics, announced a 7.60 percent increase in its standalone net profit for the quarter ending March 31, 2022, to Rs 61.91 crore on Saturday. During the previous year’s same quarter, the Murugappa Group company had a standalone net profit of Rs 57.52 crore. According to a business release, standalone net profit increased by 38.30 percent to Rs 254.48 crore for the fiscal year ending March 31, 2022, from Rs 183.97 crore the previous year.
Free cash flow for the year ending March 31, 2022, was at Rs 118 crore, the company said. Return on Invested Capital for three major segments together moved from 27 per cent in FY21 to 31 per cent in FY22. Revenue from the abrasives business at a consolidated level grew by 29 per cent to Rs 1,283 crore for the year ending March 31, 2022, as compared to Rs 993 crore recorded last year. The company said the abrasives business in India, Russia and US registered significant growth.
Total income for the quarter under review went up to Rs 601.47 crore, from Rs 519.98 crore registered same quarter in the previous year. For the year ending March 31, 2022, standalone total income was at Rs 2,257.18 crore as against Rs 1,714.65 crore recorded last fiscal. The company said it incurred a capital expenditure in 2021-22 of Rs 170 crore and the debt-equity ratio at the consolidated level was at 0.09.
Revenue at consolidated level in the electro minerals business grew to Rs 1,312 crore during the year ending March 31, 2022, as compared to Rs 1,064 crore a year ago. The company said its subsidiary Volzhsky Abrasives Works, Russia registered double digit growth in rouble terms. It has been a turnaround year for Foskor Zirconia Pty Ltd, South Africa which registered double-digit growth.
Ceramics business during the year clocked 27.20 per cent jump on its net to Rs 798 crore as compared to Rs 627 crore registered a year ago. The Board of Directors recommended a final dividend of Rs 2 per share (200 per cent on face value of Re 1) to the shareholders. The company had earlier paid an interim dividend of Re 1.50 per share, aggregating to a total dividend of Rs 3.50 per share, the statement said.
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