CUMI’s quarterly sales go up by 60 per cent to Rs 1,129 cr

CHENNAI: Murugappa Group company Carborundum Universal (CUMI) saw its consolidated sales for the quarter go up by 60 pc to Rs 1,129 cr from Rs 706 cr in last year, driven by steady performance across business segments and additional sales of Rs 181 cr from newly-acquired subsidiaries.

At standalone level, sales grew by 29 pc to Rs.600 cr from Rs.465 cr.

On a consolidated basis, profitability for the quarter recorded strong growth across minerals and ceramics segments. Profit after tax and non-controlling interest for the quarter grew by 38 per cent to Rs.79 crore against Rs.57 crore in Q4 of last year.

However, Profit after tax and non-controlling interest for the quarter grew up by 2 per cent compared to Q1 of last year. The profit for the quarter was mainly impacted by exchange loss in the Russian subsidiary due to strengthening of Rouble.

The capital expenditure incurred during the quarter was Rs 56 cr at a consolidated level. The debt equity ratio was at 0.09.

The net cash was at Rs 118 cr. Segment revenue for the quarter grew by 88 per cent to Rs 513 cr compared to Rs 273 cr in Q1 of last year.

Standalone Abrasives grew by 20 percent to Rs 269 cr against Rs 224 cr.

The newly acquired subsidiaries – Rhodius and Awuko added additional sales to the topline besides the growth from standalone and Indian subsidiary.

Profit before finance cost and tax was lower by 53 per cent at Rs 18 cr as against Rs 38 cr in Q1 of last year. The lower profit is due to cost impact in standalone, closure cost at China and integration cost.

On a standalone basis, electro Minerals grew by 34 pc to Rs.179 cr from Rs 134 cr. Ceramics also grew on a standalone basis by 37 pc to Rs 193 cr from Rs 141 cr despite logistics and cost related challenges. Subsidiaries in Australia and America also registered significant growth.

The capital expenditure incurred during the quarter was Rs 56 cr at a consolidated level. The debt equity ratio was at 0.09 while the net cash was at Rs 118 crore