BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Carborundum Universal Ltd. has reported healthy execution in Q2 FY22 led by strong performance across segments.
During the quarter, company delivered 22% YoY growth to Rs 8.4 billion at consolidated level as industrial activity picked up pace. Elevated commodity and freight costs continued to impact margins.
However, price hike across categories and better cost rationalisation measures helped arrest the YoY decline in Ebitda margin to 160 bps.
Carborundum Universal is gearing up to tap into future growth areas like electric vehicles, alternate fuel technology, high purity silicon carbide used in semiconductors etc.
Factoring in strong growth outlook, we raise our FY22/FY23 earnings estimates by 8.5%/10.6%.
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