CUMI Q2FY23 PAT down -8.9% yoy at Rs89 crore due to higher raw material cost and other expenses

29 Oct 2022 , 09:13 AM

Carborundum Universal reported 33.52% growth in total revenues for the September 2022 quarter on consolidated basis at Rs1,128cr.

Revenue fall was a marginal -1.06% in sequential terms. In terms of verticals, the company witnessed sharp growth across all the 3 major verticals viz abrasives, ceramics and electro-minerals.

While abrasives grew by nearly 50% yoy, the growth was subdued at 25% for electro-minerals and around 20% for ceramics.

Net cash from operations dipped into negative in the first half of FY23 due to higher inventories, spike in trade receivables and lower credit terms on trade payables.

Consolidated Profit after tax (PAT) for September 2022 quarter was down -8.85% at Rs89 crore and it was up 12.97% on sequential basis.

The operating profits took a hit on account of a spike in raw material costs and other expenses in the quarter. In terms of verticals, the abrasives vertical saw a sharp fall in profits while the profits of the ceramics and the electro-minerals business saw in increase on yoy basis.

Net profit margins at 7.89% in Q2FY23 is lower as compared to 11.56% in Q1FY22 but sharply higher against 6.91% in Q1FY23.

Financial highlights for Sep-22 compared yoy and sequentially

	CUMI
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 1,127.77	₹ 844.63	33.52%	₹ 1,139.83	-1.06%
Net Profit (Rs cr)	₹ 88.99	₹ 97.63	-8.85%	₹ 78.77	12.97%
Diluted EPS (Rs)	₹ 4.68	₹ 5.14		₹ 4.14
Net Margins	7.89%	11.56%		6.91%