May 19, 2024

Carborundum Common Ltd

Shares of Carborundum Common Restricted rallied 5 p.c in early commerce after sturdy This fall outcomes. At 9:40am on Tuesday, the inventory was up 4.32 p.c at Rs 1,160.

Carborundum Common, a part of the Murugappa Group, has reported a 24 p.c rise in post-tax revenue and non-controlling curiosity at Rs 414 crore for the 12 months ended March 31, 2023, compared with Rs 333 crore within the earlier 12 months in a submitting with the BSE on Could 8.

The board has advisable a last dividend of Rs 2 per share of a face worth of Re 1. The corporate had earlier paid an interim dividend of Rs 1.50 per share, aggregating to a complete dividend of Rs 3.50 per share.

Consolidated income grew 40 p.c to Rs 4,601 crore in FY23 as in opposition to Rs 3,290 crore in FY22, “contributed by sturdy efficiency throughout all enterprise segments and gross sales of Rs 673 crore from just lately acquired subsidiaries reminiscent of Awuko, Rhodius, and Pluss”, as per the submitting with the BSE.

On a standalone foundation, the corporate’s revenue after tax elevated by 30 p.c to Rs 331 crore for FY23, compared with Rs 254 crore in FY22. Gross sales grew by 13 p.c to Rs 2,473 crore (Rs 2,192 crore).

For the quarter ended March 31, 2023, the corporate recorded a 140 p.c improve in consolidated revenue after tax and non-controlling curiosity at Rs 137 crore in opposition to Rs 57 crore within the earlier 12 months. Consolidated income from operations for the March 2023 quarter grew to Rs 1,183 crore from Rs 859 crore in the identical interval of final 12 months.

The capital expenditure incurred in 2022-23 was Rs 294 crore on the consolidated degree. The debt-equity ratio on the consolidated degree was 0.08. Money and money equivalents, together with deposits with tenure exceeding 3 months’ web of borrowings had been at Rs 166 crore.

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