Carborundum Universal Limited (CARBORUNIV)

Capital Goods · Industrial Products · NSE · Updated 30 July 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹1,051 ↑ 10.08% (1Y)

🎯 Key Takeaways

Carborundum Universal Limited (CARBORUNIV) is currently in a turnaround phase marked by declining profitability despite stable revenue growth. The company has experienced a sharp drop in net profit and EPS over the past year, with margins compressing significantly, suggesting operational or cost pressures.
Revenue grew 2.6% QoQ to ₹1,255 in Q3FY25.
⚠️ Sustained margin compression and declining profitability despite flat revenue growth, with OPM falling from 17.4% in Q4FY23 to 14.1% in Q3FY2

Market Cap

₹21,000

P/E Ratio

52.6

Div Yield

0.00%

Promoter

0.0%

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📖 The Story

Carborundum Universal Limited (CARBORUNIV) is currently in a turnaround phase marked by declining profitability despite stable revenue growth. The company has experienced a sharp drop in net profit and EPS over the past year, with margins compressing significantly, suggesting operational or cost pressures. While revenue has shown modest sequential improvement in Q3FY25, this has not translated into earnings recovery, indicating potential inefficiencies or investment cycles impacting the bottom line.

📰 What's Happening

In Q3FY25, revenue rose 2.5% YoY to ₹1,255.45 Cr, but net profit plummeted 67.5% YoY to ₹37.61 Cr, with OPM declining to 14.1% from 15.9% in the prior quarter. Management has scheduled an investor call on 10 August 2026 to discuss these unaudited results, signaling transparency efforts amid deteriorating profitability. Additionally, a key senior executive, Head of IT Mr. Ajit Kolhe, resigned effective 26 June 2026, raising potential concerns about execution continuity. There are no indications of new strategic initiatives or capital allocation shifts in recent filings.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q4FY23	Q1FY24	Q2FY24	Q3FY24	Q4FY24	Q1FY25	Q2FY25	Q3FY25
Revenue	1,200	1,203	1,146	1,151	1,201	1,198	1,224	1,255
Operating Profit	235	200	187	206	222	201	206	89
OPM %	15.9%	14.1%	14.6%	16.7%	17.4%	16.2%	15.9%	14.1%
Net Profit	149	118	104	112	143	115	116	38
EPS	₹7.22	₹5.96	₹5.36	₹5.86	₹7.10	₹5.94	₹6.09	₹1.83

The financial trajectory reveals a clear earnings deterioration phase: net profit fell from ₹149 Cr in Q4FY23 to ₹37.61 Cr in Q3FY25, while EPS dropped from ₹7.22 to ₹1.83 over the same period. Despite revenue stability around ₹1,200 Cr, operating profit has declined from a peak of ₹235 Cr in Q4FY23 to ₹89 Cr in Q3FY25, reflecting margin compression. This trend aligns with management’s lack of forward guidance and suggests challenges in converting sales into profit, possibly due to cost inflation or pricing pressure.

🔮 Management Outlook & What's Next

Management has not provided forward-looking financial guidance in recent filings. The only forward-looking element is the scheduled investor call on 10 August 2026 to discuss Q3FY25 results, where further commentary on performance and outlook may be expected. No strategic updates, capital plans, or demand outlook were disclosed in the latest BRSR report or board meeting minutes.

Extracted from official company announcements. Not StockFin.ai's opinion.

⚖️ Peer Comparison — Industrial Products

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
Cummins India Limited	1.49 L Cr	74.4	—	—	—
Polycab India Limited	1.38 L Cr	74.8	—	—	—
APL Apollo Tubes Limited	52,483	43.6	29.3%	22.7%	0.09
KEI Industries Limited	48,924	72.7	—	—	—
Supreme Industries Limited	44,570	43.6	—	—	—
Astral Limited	41,662	79.2	—	—	—
AIA Engineering Limited	35,987	31.0	20.4%	16.8%	0.07
Welspun Corp Limited	34,530	23.2	—	—	—
Timken India Limited	26,561	61.0	—	—	—
Kirloskar Oil Engines Limited	25,295	49.8	—	—	—

🔗 Peer Stock Analyses

CUMMINSIND POLYCAB APLAPOLLO KEI SUPREMEIND

⚠️ Risk Factors

1. Sustained margin compression and declining profitability despite flat revenue growth, with OPM falling from 17.4% in Q4FY23 to 14.1% in Q3FY25. 2. Sharp drop in net profit and EPS without clear operational explanation or cost-cutting measures disclosed. 3. Key leadership exit in Head of IT with no interim arrangement, raising execution continuity risks. 4. Lack of forward guidance or strategic clarity from management amid deteriorating financial trends.

📋 Recent Filings

🧠 Analyst's Read

CARBORUNIV is undergoing a concerning earnings decline without visible corrective actions or strategic direction. Investors should monitor the upcoming 10 August 2026 investor call for insights into the drivers of margin and profit erosion, as well as any updated outlook. The company’s ability to stabilize profitability and retain key talent will be critical to reversing the current downward trajectory.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-07-30.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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