The Board of Directors of Carborundum Universal approved the results for the quarter and nine months ended 31 December 2019.
According to a press release, consolidated sales for the quarter, decreased by 6 per cent to Rs 642 crores from Rs 683 crores in the corresponding quarter of last year, driven by lower volumes from abrasives and electro minerals segments. At standalone level, sales dropped by 11 percent. Consolidated segmental profitability for the quarter improved for ceramics businesses, but de-grew for abrasives and electro minerals.
The company, at a consolidated level, spent Rs 107 crore on capital expenditure during nine months period ended December 2019. The debt equity ratio on a consolidated basis was 0.04 as of December 2019. Cash and cash equivalents net of borrowings was Rs 243 crore. On a consolidated basis, profit after tax and non-controlling interest for the quarter grew by 8 per cent to Rs 63 crore, the release added.