Carborundum Universal Q1 Review -Healthy Growth Despite Challenges: ICICI Securities
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ICICI Securities Report
Carborundum Universal Ltd. has reported healthy execution in Q1 FY22 led by outperformance of abrasives and electro mineral segments.
Ceramic segment issues in terms of logistical bottlenecks may be streamlined in Q2 FY22.
Carborundum Universal is gearing up to tap into future growth areas like electric vehicles, batteries, high purity silicon carbide used in 5G technology etc.
The loss from overseas subsidiaries has reduced, and export market is expected to perform well.
Improvement in domestic utilisation along with investments due to production linked incentive scheme are expected to fuel growth.
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