Chennai: The Board of Directors of Carborundum Universal have announced the results for the quarter and six months ended 30 September and in it stated that the net sales increased by 12 per cent to Rs 651 crore from Rs 579 crore.
At a standalone level, net sales grew up 13 per cent and the firm has stated that the growth was driven by better performance from all segments.
A release stated that the company, at a consolidated level, spent Rs 38 crore on capital expenditure for the first half year. The debt equity ratio on a consolidated basis improved from 0.08 as of June to 0.06 as of September.
On a consolidated basis, profit after tax and non-controlling interest grew by 17 per cent to Rs 65 crore. Compared to Q1, the profit after tax and non-controlling interest growth was three per cent.
Abrasives
Segment revenue for the quarter at a consolidated level was Rs 283 crore compared to corresponding period of last yearĀs revenue of Rs 259 crore resulting in growth of nine per cent. The growth was led by strong performance from standalone business. The sequential consolidated revenue growth was eight per cent.s
Electro Minerals
Segment Revenue at a consolidated level were higher at Rs 245 crore. Volzhsky Abrasives Works, Russian subsidiary, registered a good growth. Profit before interest and tax decreased from Rs 37 crore to Rs 29 crore due to lower volumes in Foskor Zirconia and flooding of Maniyar Power Plant in Kerala.
Ceramics
Consolidated revenues increased from Rs 121 crore to Rs 144 crore resulting in growth of 19 per cent on the back of strong performance in standalone business. Profit before interest and tax increased from Rs 17 crore to Rs 27 crore on the back of higher volumes and product mix.