CARBORUNIVCapital Goods

Carborundum Universal Limited

Abrasives & Bearings · ISIN INE120A01034 · BSE 513375 · NSE EQ · FV ₹1
Last price
₹1,084
+3.04%today
What this company does

Carborundum Universal Limited operates in Abrasives & Bearings, part of the Capital Goods sector. It booked ₹1,427 cr of revenue in its latest quarter (Q1 FY27) and kept 5.4% of sales as profit. It is the 2nd largest of 6 Abrasives & Bearings companies we track, by market value.

Engineering Materials for the Future At CUMI, we combine strong scientific Our capabilities cover the complete value chain, expertise with decades of industrial from raw materials sourcing and integrated manufacturing to marketing and distribution, experience to shape the future of helping us deliver high-performance and materials engineering.
In the report:
51out of 100
Equitytale Health Score
Mixed

Healthier than 51% of companies in Capital Goods, on all six measures of filed financials. Each measure is ranked against the 77–113 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
48

At close. Not part of the score.

Profitability & returns24

How much profit it earns on the money it employs

Balance sheet61

How much it owes, and whether earnings cover the interest

Cash quality92

Whether reported profit actually arrives as cash

Growth & consistency27

Whether sales and profit have grown, and how steadily

Valuation44

What today's price implies, against our models or its peers

Governance & risk86

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 17% vs last year
Profit up 23% vs last year
No promoter shares pledged
Virtually debt-free
Turns profit into real cash
Watch-outs
! Thin 5.4% net margin
! Low 7.8% return on equity

What if I invest in CARBORUNIV?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 0% a year, it would become
₹12.00 lakh

The slider starts at 0%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹1,084 +3.04%
latest close · 2026-09-17
1-year return
+42.5%
52-wk low ₹65252-wk high ₹1,207
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio67.1High
LowAverageHigh
P/B ratio5.29High
Below bookModerateHigh
EV / EBITDA28.2High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity7.8%Weak
WeakFairStrong ▸15%
Return on capital10.8%Fair
WeakFairStrong
Net margin5.4%Decent
ThinDecentStrong
EBITDA margin12.6%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.08Comfortable
LowModerateHigh ▸1
Interest cover19.7×Strong
RiskyOkayStrong ▸5×
Current ratio2.67Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹20,643 cr
Book value
₹205
EPS
₹4.04
latest quarter
Net debt
₹-393 cr
more cash than debt
Enterprise value
₹20,250 cr
EBITDA
₹719 cr
annualised
EBIT
₹457 cr
annualised
Operating margin
8.0%
Return on assets
5.8%
Earnings yield
1.49%
P/S
3.62
Sales / share
₹299.6
Tax rate
35.8%
Face value
₹1
Shares
19.1 cr
Working capital
₹1,776 cr
Current assets
₹2,841 cr
Current liabilities
₹1,065 cr
Delivery %
49.2%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2026 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹126₹264, midpoint ₹137

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹1,427 cr
Other Income₹45 cr
Total Income₹1,471 cr
Cost of Materials₹494 cr
Purchases of Stock-in-Trade₹59 cr
Inventory Change (±)₹23 cr
Employee Benefit Expense₹268 cr
Finance Costs₹6 cr
Depreciation & Amortisation₹66 cr
Other Expenses₹447 cr
Total Expenses₹1,363 cr
Profit before Tax₹108 cr
Tax Expense₹39 cr
Share of JV / Associates₹11 cr
Net Profit₹80 cr
Net margin on total income5.5%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹576 cr38.9%
Employee benefit expense₹268 cr18.1%
Finance costs₹6 cr0.4%
Depreciation & amortisation₹66 cr4.4%
Other expenses₹447 cr30.2%
Tax expense₹39 cr2.6%
Profit for the period₹80 cr5.4%
Total income ₹1,471 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue1,291 cr1,398 cr1,427 cr
Total income1,304 cr1,421 cr1,471 cr
Expenses1,199 cr1,325 cr1,363 cr
Profit before tax105 cr-38 cr108 cr
Tax40 cr10 cr39 cr
Net profit (owners' share)76 cr-18 cr76 cr
Net margin (owners' share, on revenue)5.9%-1.3%5.4%
EPS (₹)4.02-0.934.04
YoY (latest quarter): total income +18.9% · net profit +23.4%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹5,291 cr
Shareholder equity
₹3,900 cr
parent shareholders
Total debt
₹305 cr
Cash
₹698 cr
Cash flow · H1 FY26
Operating
₹111 cr
Investing
₹-134 cr
Financing
₹83 cr
Peer comparison
Abrasives & Bearings · by market value
CompanyPriceMarket capP/E
Timken India Limited₹3,185₹23,958 cr50.0
Carborundum Universal Limitedthis company₹1,084₹20,643 cr67.1
Grindwell Norton Limited₹1,862₹20,618 cr44.6
SKF India (Industrial) Limited₹2,940₹14,537 cr58.7
Wendt (India) Limited₹8,765₹1,753 cr70.9
NRB Industrial Bearings Limited₹31₹74 cr
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.37%
trailing 12 months
Dividend / share (TTM)
₹4
Last dividend
₹2.5
ex 31 Jul 2026
ActionDetailEx-date
Dividend₹2.5 / share31 Jul 2026
Dividend₹1.5 / share4 Feb 2026
Dividend₹2.5 / share31 Jul 2025
Dividend₹1.5 / share18 Feb 2025
Dividend₹2.5 / share22 Jul 2024
Dividend₹1.5 / share12 Feb 2024
Who owns it · 2026-06-30
No pledge
Promoter
38.9%
FII / Foreign
11.1%
DII / Domestic
29.1%
Retail / others
20.9%
Promoter stake down 2.6% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtNARAYANAN ANANTHASESHAN · Key Managerial Personnel4,000 · ₹10.3 L10 Feb 22
BoughtNARAYANAN ANANTHASESHAN · Key Managerial Personnel20,748 · ₹53.4 L4 Feb 22
BoughtNARAYANAN ANANTHASESHAN · Key Managerial Personnel6,000 · ₹15.5 L4 Feb 22
Bulk / block deals
short · NSE3325 Aug 26
short · NSE3014 Aug 26
short · NSE70023 Jun 26
Stake changes
BoughtNippon India Mutual Fund→ 5.22% · 4.00 L15 May 26
BothSBI MUTUAL FUND under its various schemes→ 9.35% · 73.71 L19 May 22
DisposalHDFC Mutual Fund · promoter→ 5.59%18 Feb 22
Promoter pledges
PledgedBarclays Investments and Loan India Pvt Ltd1.00 L · 0.00% held29 Nov 21
ReleasedHDFC Bank13,600 · 0.01% held13 Aug 20
ReleasedHDFC Bank50,000 · 0.03% held26 Aug 19
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 7 Aug 2026
See the official result
1
Adoption of Standalone Financial Statements
Backed by 99% of shareholders other than promotersneeded 50%
7.49 cr votes for, 3.83 L against · 1% of mutual funds and other big investors said no
2
Adoption of Consolidated Financial Statements
Backed by 96% of shareholders other than promotersneeded 50%
7.24 cr votes for, 29.17 L against · 4% of mutual funds and other big investors said no
3
Declaration of Dividend
Backed by 100% of shareholders other than promotersneeded 50%
7.53 cr votes for, 23 against · 0% of mutual funds and other big investors said no
4
Re-appointment of Mr. Muthiah Murugappan (DIN: 07858587) as Director
Backed by 99% of shareholders other than promotersneeded 50%
7.47 cr votes for, 5.76 L against · 1% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 197 named members
owning 38.9% between them · as of 2026-06-30
AMBADI INVESTMENTS LIMITED29.43%
MURUGAPPA EDUCATIONAL AND MEDICAL FOUNDATION2.00%
SOUTHERN ENERGY DEVELOPMENT CORPORATION LTD0.76%
M.M.MUTHIAH RESEARCH FOUNDATION0.58%
R.MUTHATHA0.54%
M A M ARUNACHALAM0.53%
M.A.ALAGAPPAN0.41%
A VENKATACHALAM0.38%
Business done with them
FY2026 · 5 of the group
The company paid ₹18 cr to companies in the promoter group last year — about 0.3% of its ₹5,206 cr revenue and received ₹43 cr back from them.
MURUGAPPA MORGAN THERMAL CERAMICS LTD
Other income from them · Income from Sales & Services, Dividend income, Purchase of goods, Purchases of Fixed asset
₹19 cr
company received
CIRIA INDIA LIMITED
Other income from them · Income from Sales & Services, Dividend income, Letter of Comfort/ Guarantee issued/ renewed
₹7 cr
company received
WENDT INDIA LIMITED
Sold goods to them · Income from Sales & Services, Dividend income, Purchase of goods, Rental Expenses, Purchases of Fixed asset, Expenditure on other services
₹6 cr
company received
WENDT INDIA LIMITED
Bought goods from them · Income from Sales & Services, Dividend income, Purchase of goods, Rental Expenses, Purchases of Fixed asset, Expenditure on other services
₹6 cr
company paid
PARRY ENTERPRISES INDIA LIMITED
Other payments to them · Purchase of goods, Expenditure on other services, Income from Sales & Services
₹6 cr
company paid
CIRIA INDIA LIMITED
Sold goods to them · Income from Sales & Services, Dividend income, Letter of Comfort/ Guarantee issued/ renewed
₹4 cr
company received
MURUGAPPA MORGAN THERMAL CERAMICS LTD
Bought goods from them · Income from Sales & Services, Dividend income, Purchase of goods, Purchases of Fixed asset
₹3 cr
company paid
MURUGAPPA MORGAN THERMAL CERAMICS LTD
Sold goods to them · Income from Sales & Services, Dividend income, Purchase of goods, Purchases of Fixed asset
₹3 cr
company received
WENDT INDIA LIMITED
Other income from them · Income from Sales & Services, Dividend income, Purchase of goods, Rental Expenses, Purchases of Fixed asset, Expenditure on other services
₹3 cr
company received
WENDT INDIA LIMITED
Bought property or assets from them · Income from Sales & Services, Dividend income, Purchase of goods, Rental Expenses, Purchases of Fixed asset, Expenditure on other services
₹2 cr
company paid
WENDT INDIA LIMITED
Other payments to them · Income from Sales & Services, Dividend income, Purchase of goods, Rental Expenses, Purchases of Fixed asset, Expenditure on other services
₹69.8 L
company paid
MURUGAPPA MORGAN THERMAL CERAMICS LTD
Bought property or assets from them · Income from Sales & Services, Dividend income, Purchase of goods, Purchases of Fixed asset
₹29.5 L
company paid
PARRY ENTERPRISES INDIA LIMITED
Sold goods to them · Purchase of goods, Expenditure on other services, Income from Sales & Services
₹9 L
company received
Parry Agro Industries Limited
Sold goods to them · Income from Sales & Services, Expenditure on other services
₹8 L
company received
Parry Agro Industries Limited
Other payments to them · Income from Sales & Services, Expenditure on other services
₹3.1 L
company paid

The company also transacted with 9 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.