Carborundum Universal Ltd, part of the Murugappa Group, has reported a 24 per cent rise in profit after tax and non-controlling interest at ₹414 crore for the year ended March 31, 2023, when compared with ₹333 crore in the previous year.

The board has recommended a final dividend of ₹2 per share (200 per cent on the face value of ₹1 per share). The company had earlier paid an interim dividend of ₹1.50 per share, thus aggregating to a total dividend of ₹3.50 per share (350 per cent).

Consolidated revenue grew by 40 per cent to ₹4,601 crore in FY23 against ₹3,290 crore in FY22, “contributed by strong performance across all business segments and sales of ₹673 crore from recently acquired subsidiaries viz., Awuko, Rhodius, and Pluss,” said a statement.

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On a standalone basis, the company’s profit after tax increased by 30 per cent to ₹331 crore for FY23, when compared with ₹254 crore in FY22. Sales grew by 13 per cent to ₹2,473 crore (₹2,192 crore).

For the quarter ended March 31, 2023, the company recorded a 140 per cent increase in consolidated profit after tax and non-controlling interest at ₹137 crore against ₹57 crore in the previous year.

Consolidated revenue from operations for the March 2023 quarter grew to ₹1,183 crore from ₹859 crore in the same period of last year. 

The capital expenditure incurred in 2022-23 was ₹294 crore at the consolidated level. The debt-equity ratio at the consolidated level was 0.08. Cash and cash equivalents including deposits with tenure exceeding 3 months net of borrowings were at ₹166 crore.

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