Carborundum Universal logo

Carborundum Universal share price

NSE: CARBORUNIVBSE: 513375Industrial ProductsSmall Cap

Carborundum Universal Limited · Face value ₹1 · Listed Nov 1992 on BSE, Apr 1996 on NSE
Last close ₹1,030.30down ₹55.90 (5.15%)BSE ₹1,031.35

Share price at the NSE close on 30 Oct 2026. Previous close ₹1,086.20.

30 Oct: open ₹1,088.10, high ₹1,089.00, low ₹1,025.00

52-week range of traded prices to 30 Oct 2026
₹735.20Low, 23 Mar 2026₹1,368.90High, 24 Sep 2026
Market cap
₹19,628 Cr382nd largest listed
P/E
93.81
P/E without one-offs
57.09
P/B
5.03
Dividend yield
0.39%
ROE
5.6%
ROE without one-offs
9.3%
ROCE
7.9%
Debt to equity
0.08
Volume, NSE
1,61,298

Carborundum Universal share price chart

Daily closes since Jan 2007, adjusted for splits and bonuses

+16.5%over a year to 29 Oct 2026 · Nifty 500 −8.4%

ResultsTo 29 Oct 2026, 20-session average 2,38,236 shares a day, 44.7% delivered

About Carborundum Universal

Carborundum Universal Limited (CUMI), a Chennai-based materials science company, makes abrasives, fused minerals, refractories and technical ceramics for industries including automotive, construction, engineering, railways, steel, glass, cement, chemicals, mining, fuel cells and power transmission.12 It serves retail and industrial customers in India through distributors, direct sales and digital marketing, and has manufacturing facilities and customers in other countries.13

The business runs as Abrasives, Electrominerals and Ceramics segments, the last made up of Industrial Ceramics and Super Refractories.34 Its brands include Ajax and Concord emery and flint sandpapers, made at Kolkata, and the Tuffcote series of electrominerals products.56 It reports 22 manufacturing units, with plants in Tamil Nadu, Kerala, Madhya Pradesh, West Bengal and Uttarakhand and bauxite mines at Okha in Gujarat.758

It was established in 1954 as a joint venture and is part of the Murugappa Group.3 Its non-executive chairman is M M Murugappan and its managing director is Sridharan Rangarajan.29 Abroad, its subsidiaries include RHODIUS Abrasives in Germany and Volzhsky Abrasive Works in Russia, which it acquired through CUMI International, Cyprus, in the year to Mar 2008.1011 In the year to Mar 2025 it acquired Silicon Carbide Products, a US maker of nitride-bonded silicon carbide.12 In India it holds Sterling Abrasives (60%), PLUSS Advanced Technologies (74.06%) and Net Access India (100%), and stakes in Wendt (India) (37.5%) and Murugappa Morgan Thermal Ceramics (49%).13

Carborundum Universal key points

Results

  • In the year to Mar 2026, consolidated revenue rose 7% to ₹51,494 million from ₹48,335 million.14
  • Consolidated profit after tax attributable to shareholders was ₹1,947 million in the year to Mar 2026, against ₹2,927 million, after one-off charges of ₹1,346 million.15
  • In the quarter to Jun 2026, consolidated sales rose 16.9% to ₹1,411 crore from ₹1,207 crore a year earlier.16
  • Consolidated profit after tax in the quarter to Jun 2026 rose 23.4% to ₹76 crore from ₹62 crore a year earlier.17

Business segments

  • Abrasives. Bonded, coated and super abrasives and metal working fluids. In the year to Mar 2026, consolidated Abrasives revenue rose 5.1% to ₹22,706 million from ₹21,594 million, with segment profit before interest and tax of ₹966 million.1819
  • Electrominerals. White and brown fused alumina, silicon carbide and fine ceramic powders, made in Kerala. In the year to Mar 2026, consolidated Electrominerals revenue was ₹16,318 million, with segment profit before interest and tax of ₹909 million.2021
  • Ceramics. Advanced ceramics for mining, power, semiconductor, electronics and defence, plus refractories and corrosion protection. In the year to Mar 2026, consolidated Ceramics revenue rose 9.3% to ₹12,680 million from ₹11,601 million, with segment profit before interest and tax of ₹2,562 million.2223

Where revenue comes from

  • The parent company sold in 67 countries and in 23 states and 4 union territories of India in the year to Mar 2026.24
  • Industrial Ceramics earns about 75% of its revenue from exports, with service and distribution networks in the USA, Australia and Europe.25
  • Electrominerals raised exports to over 30% of its sales in the year to Mar 2026, led by Europe, where anti-dumping duties (extra import taxes) on Chinese products raised demand for other suppliers.2627

Research and development

  • The company holds 117 patents, 627 trademarks, 64 designs and 6 copyrights.28
  • Electrominerals has developed 5N high-purity silicon carbide, enough for some silicon carbide semiconductor products, and found a technology path to 6N purity (grades counted in nines).2930
  • Electrominerals set up a pilot facility for ceramic powders used in fuel cells (which turn fuel into electricity), with technology transferred from the Central Glass and Ceramic Research Institute (CSIR-CGCRI).29

Expansion and capital spending

  • Capital spending in the year to Mar 2026, its highest ever, was ₹3,094 million consolidated and ₹2,352 million for the parent, mainly on thin wheels, semiconductor and defence ceramics, fused alumina and fuel cell materials.31
  • A thin-wheels plant at Hosur, built for ₹83 crore with lines moved from Germany, began commercial production on 16 March 2026 and doubled cutting and grinding wheel capacity from 45 million to over 90 million wheels a year.32
  • On its earnings call of 10 Aug 2026, the company said it expects capital spending of ₹400 crore in the year to Mar 2027.33

What the company expects

  • On its earnings call of 10 Aug 2026, the company said it expects consolidated margins of 20.5% to 21% in Ceramics, 9.5% to 10% in Abrasives and 9% to 9.5% in Electrominerals in the year to Mar 2027.34
  • On its earnings call of 10 Aug 2026, the company said sales of ceramics for semiconductor wafer fabrication equipment would be small in the year to Mar 2027, pick up the next year and peak in the year to Mar 2030.35
  • On its earnings call of 10 Aug 2026, the company said it was setting up a metallised substrate facility with 1 anchor customer and a technology partner, and expects revenue from it from the year to Mar 2028.36

Recent events

  • On 27 May 2026, the company completed buying a 29.58% stake in Putrim Renewables for ₹6.48 crore, to source solar power for its Tamil Nadu plants.3738
  • On 10 Apr 2026, the company signed a power purchase agreement with Putrim Renewables for 18 MWp (megawatts peak) of capacity from a captive solar plant in Thoothukudi, Tamil Nadu.38

Subsidiaries under review

  • Volzhsky Abrasive Works in Russia has been on the US sanctions list (OFAC SDN list) since 10 Jan 2025, limiting its markets largely to Russia and the Commonwealth of Independent States.3940
  • Volzhsky Abrasive Works' revenue fell to 6,084 million roubles in the year to Mar 2026 from 9,403 million; its cash of ₹2,971.06 million cannot be moved to other group companies.4139
  • CUMI Awuko Abrasives in Germany lost €18.6 million, including closure costs, in the year to Mar 2026, and its parent decided to wind it up voluntarily. On 10 Aug 2026 the company said it hoped to finish in about a quarter.4243
  • The board of Foskor Zirconia, South Africa, concluded it cannot continue operations; on 10 Aug 2026 the company said it aimed to settle the matter by the quarter to Sep 2026; its documents give no outcome.4445

Last updated

All 45 sources, each with its page
  1. 1. Annual report, 16 Jul 2026, page 169
  2. 2. Annual report, 16 Jul 2026, page 3
  3. 3. Annual report, 16 Jul 2026, page 24
  4. 4. Annual report, 16 Jul 2026, page 95
  5. 5. Annual report, 16 Jul 2026, page 33
  6. 6. Annual report, 16 Jul 2026, page 57
  7. 7. Annual report, 16 Jul 2026, page 209
  8. 8. Annual report, 16 Jul 2026, page 152
  9. 9. Annual report, 16 Jul 2026, page 65
  10. 10. Annual report, 16 Jul 2026, page 31
  11. 11. Annual report, 16 Jul 2026, page 251
  12. 12. Annual report, 16 Jul 2026, page 97
  13. 13. Annual report, 16 Jul 2026, page 31
  14. 14. Annual report, 16 Jul 2026, page 95
  15. 15. Annual report, 16 Jul 2026, page 96
  16. 16. Earnings call, 10 Aug 2026, page 4
  17. 17. Earnings call, 10 Aug 2026, page 4
  18. 18. Annual report, 16 Jul 2026, page 110
  19. 19. Annual report, 16 Jul 2026, page 63
  20. 20. Annual report, 16 Jul 2026, page 33
  21. 21. Annual report, 16 Jul 2026, page 63
  22. 22. Annual report, 16 Jul 2026, page 95
  23. 23. Annual report, 16 Jul 2026, page 64
  24. 24. Annual report, 16 Jul 2026, page 169
  25. 25. Annual report, 16 Jul 2026, page 112
  26. 26. Annual report, 16 Jul 2026, page 117
  27. 27. Annual report, 16 Jul 2026, page 94
  28. 28. Annual report, 16 Jul 2026, page 49
  29. 29. Annual report, 16 Jul 2026, page 94
  30. 30. Earnings call, 10 Aug 2026, page 17
  31. 31. Annual report, 16 Jul 2026, page 63
  32. 32. Annual report, 16 Jul 2026, page 55
  33. 33. Earnings call, 10 Aug 2026, page 9
  34. 34. Earnings call, 10 Aug 2026, page 10
  35. 35. Earnings call, 10 Aug 2026, page 11
  36. 36. Earnings call, 10 Aug 2026, page 11
  37. 37. Exchange filing, 27 May 2026, page 1
  38. 38. Exchange filing, 10 Apr 2026, page 1
  39. 39. Annual report, 16 Jul 2026, page 251
  40. 40. Annual report, 16 Jul 2026, page 64
  41. 41. Annual report, 16 Jul 2026, page 97
  42. 42. Annual report, 16 Jul 2026, page 98
  43. 43. Earnings call, 10 Aug 2026, page 6
  44. 44. Annual report, 16 Jul 2026, page 98
  45. 45. Earnings call, 10 Aug 2026, page 12

Results

Consolidated; ₹ crore.Carborundum Universal quarterly results

Revenue growth, 12 months
+10.1%
Net profit growth, 12 months
−13.4%

Quarter to Jun 2026, against the quarter before

Revenue
₹1,427 Crup 2.02%
Net profit
₹80 CrQuarter to Mar 2026: −₹40 Cr
Net margin
5.6%

Revenue by quarter

₹1,224 CrSep 24₹1,255 CrDec 24₹1,217 CrMar 25₹1,219 CrJun 25₹1,298 CrSep 25₹1,291 CrDec 25₹1,398 CrMar 26₹1,427 CrJun 26
Peak revenue ₹1,427 Cr, quarter to Jun 2026; lowest ₹1,217 Cr, quarter to Mar 2025

Net profit by quarter, a loss in red

  • Net profit
  • Loss
₹116 CrSep 24₹38 CrDec 24₹30 CrMar 25₹60 CrJun 25₹74 CrSep 25₹73 CrDec 25−₹40 CrMar 26₹80 CrJun 26
Back to profit in the quarter to Jun 2026, ₹80 CrA loss in 1 of the 8 quarters shown
₹ croreSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue1,2241,2551,2171,2191,2981,2911,3981,427
Net profit1163830607473−4080
Net margin9.5%3.0%2.5%5.0%5.7%5.7%−2.9%5.6%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit

  • Abrasives₹2,271 Crup 5.15%42.5%
  • Electrominerals₹1,632 Crup 3.70%30.5%
  • Ceramics₹1,268 Crup 9.31%23.7%
  • Others₹175 Crup 3.02%3.3%
The pill is the change in revenue on the year before; the share is of all the businesses together.

Valuation

Today, against the company's own history.Carborundum Universal PE ratio and valuation

Price to earnings

At or below today's level on 86% of 2,479 trading days over the last 10 years.

LowestHighest
Its median39.99Industry median19.30
Price to book

At or below today's level on 40% of 1,984 trading days since Oct 2018.

LowestHighest
Its median5.40Industry median1.92
Dividend yield

At or below today's level on 41% of 2,479 trading days over the last 10 years.

LowestHighest
Its median0.42%Industry median0.51%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year−23.0%−33.9%+15.7%0.5%
3 years−7.3%−22.1%+18.5%0.4%
5 years+9.2%−7.3%+17.3%0.4%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 1, 3 and 5 years includes one-off items (exceptional items and the result of businesses sold or closed) of more than a tenth of the profit of the years to Mar 2025 and Mar 2026.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.Carborundum Universal shareholding pattern

Shareholding by group

  • Promoters38.84%
  • Foreign institutions11.10%
  • Indian institutions28.76%
  • Governments0.01%
  • Individuals and others21.29%
Holder
AMBADI INVESTMENTS LIMITEDPromoter29.42%
KOTAK FUNDS - INDIA MIDCAP FUNDForeign portfolio investors, category I2.05%
MURUGAPPA EDUCATIONAL AND MEDICAL FOUNDATIONPromoter2.00%
SOUTHERN ENERGY DEVELOPMENT CORPORATION LTDPromoter0.76%
M.M.MUTHIAH RESEARCH FOUNDATIONPromoter0.58%
R.MUTHATHAPromoter0.54%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters −0.05 pts, foreign institutions −0.03 pts, Indian institutions −0.30 pts, mutual funds −0.19 pts.

Mutual fund holdings

116 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 43 of the 55 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.All 116 funds holding Carborundum Universal

Added
16
Cut
39
Held unchanged
61
Sold out
3
Fund
SBI Mutual Fund logoSBI Small Cap FundSBI Mutual Fund49,39,8421.51%₹618.7 Cr
Nippon India Mutual Fund logoNippon India Small Cap FundNippon India Mutual Fund40,73,7400.63%₹510.2 Cr
SBI Mutual Fund logoSBI Multicap FundSBI Mutual Fund35,08,6471.87%₹439.5 Cr
Nippon India Mutual Fund logoNippon India Growth Mid Cap FundNippon India Mutual Fund31,00,0000.77%₹388.3 Cr
SBI Mutual Fund logoSBI Midcap FundSBI Mutual Fund29,52,5661.59%₹369.8 Cr
Tata Mutual Fund logoTata Small Cap FundTata Mutual Fund23,89,2812.26%₹299.3 Cr
Kotak Mahindra Mutual Fund logoKotak-Small Cap FundKotak Mahindra Mutual Fund23,74,7751.55%₹297.4 Cr
SBI Mutual Fund logoSBI Contra FundSBI Mutual Fund18,13,7240.50%₹227.2 Cr
Axis Mutual Fund logoAxis Small Cap FundAxis Mutual Fund18,08,2170.74%₹226.5 Cr
SBI Mutual Fund logoSBI Flexicap FundSBI Mutual Fund17,72,8191.00%₹222.0 Cr
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 30 Oct 2025.Carborundum Universal insider trading

No promoter, director, key manager or employee bought or sold on the market.

  • Promoters and promoter group: no market trade · 18 pledge filings of unclear kind
  • Others: no market trade
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

Carborundum Universal competitors and peers

Industrial Products, 508 listed companies, priced on 30 Oct 2026. The table lists the 8 companies closest to Carborundum Universal in market cap.Capital goods stocks

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
R R Kabel logoR R KabelRRKABEL23,25134.607.65+45.4%+66.4%25.0%26.3%0.46%
HBL Engineering logoHBL EngineeringHBLENGINE22,15828.3810.01+63.0%+129.6%42.2%45.0%0.38%
Timken India logoTimken IndiaTIMKEN21,45247.316.84––14.5%18.7%0.09%
Grindwell Norton logoGrindwell NortonGRINDWELL20,80045.017.99+13.6%+21.4%18.9%19.5%1.01%
Finolex Cables logoFinolex CablesFINCABLES17,43521.792.86+26.5%+29.2%13.8%10.8%0.79%
INOX India logoINOX IndiaINOXINDIA16,91366.3715.13+19.9%+8.8%25.6%25.9%0.11%
Happy Forgings logoHappy ForgingsHAPPYFORGE16,50350.417.75+15.5%+21.6%16.5%16.9%0.23%
Ratnamani Metals & Tubes logoRatnamani Metals & TubesRATNAMANI16,25637.553.95−16.3%−24.1%11.2%13.2%0.43%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.Carborundum Universal dividend history

Dividend per share, ₹, restated for later splits and bonuses

1.8Mar 172.3Mar 182.8Mar 192.8Mar 203Mar 213.5Mar 223.5Mar 234Mar 244Mar 254Mar 26
Highest ₹4.00 a share, years to Mar 2024, Mar 2025 and Mar 2026.
Ex-dateTypePer share
31 Jul 2026Final₹2.50
4 Feb 2026Interim₹1.50
31 Jul 2025Final₹2.50
18 Feb 2025Interim₹1.50
22 Jul 2024Final₹2.50
12 Feb 2024Interim₹1.50
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Carborundum Universal announcements

Carborundum Universal share price by year

Each calendar year to 2025.Carborundum Universal share price history

YearClose at year endChangeHighest closeLowest close
2025855.90−33.1%1,303.80817.80
20241,279.65+14.9%1,800.801,037.00
20231,113.40+27.2%1,286.65880.25
2022875.20−10.8%1,006.10662.65
2021981.65+142.1%981.65402.35
2020405.50+26.6%414.55188.05
2019320.40−9.8%412.80269.85
2018355.05−5.6%420.50316.90
2017376.15+51.9%389.05248.45
2016247.65+34.6%299.75164.70
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 29 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
29 Oct 20261,094.501,094.501,058.101,086.201,075.251,41,54648.8%
28 Oct 20261,095.101,095.301,078.001,086.101,086.9261,83841.1%
27 Oct 20261,085.001,102.901,063.301,097.701,087.073,51,05439.8%
26 Oct 20261,026.001,204.801,005.601,129.201,104.556,46,12333.9%
23 Oct 20261,055.001,055.10987.301,028.801,011.863,58,02544.3%
22 Oct 20261,053.501,078.701,041.201,054.701,058.901,63,09141.6%
21 Oct 20261,082.001,087.001,041.501,059.901,057.921,45,34544.6%
19 Oct 20261,114.201,114.201,080.501,089.001,091.802,07,11653.7%
16 Oct 20261,106.001,120.001,090.001,110.101,108.421,64,27544.8%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Stock split history

Ex-dateEventPrice factorWhat happened
5 Oct 2011Split0.5000Each share became 2.
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout.

Company details

Chairperson
M M Murugappan
At the end of the quarter to Sep 2026
Managing director
Sridharan Rangarajan
At the end of the quarter to Sep 2026
NSE symbol
CARBORUNIV
BSE code
513375
ISIN
INE120A01034
Industry
Industrial Products
CIN
L29224TN1954PLC000318
Corporate identity number, the registrar of companies' code for it
Incorporated
1954
Registered office
Dare House, No.234, N.S.C. Bose Road, Parrys, Chennai 600001, Tamil Nadu
Share registrar
KFin Technologies Ltd
Keeps the register of shareholders and handles transfers and dividend payments