Carborundum Universal (CARBORUNIV) — Board Meeting

The board of Carborundum Universal Limited disclosed that its subsidiary Foskor Zirconia Pty Limited, which contributed 51% equity through CUMI International, will be wound up after failing to achieve profitability since FY 2013 due to rising costs, competition, and foreign exchange pressures. The subsidiary's financial statements were prepared on a non‑going concern basis, resulting in a Rs. 16 Crores asset write‑down in the consolidated statements for the year ended 31 March 2026. The company confirmed the subsidiary is not material and the development does not affect standalone operations.

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About Carborundum Universal Limited (CARBORUNIV)

Capital Goods · Industrial Products · Listed on NSE

Market Cap: ₹20,999.89 Cr P/E: 52.6

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