Murugappa Group’s abrasives and industrial ceramics maker Carborundum Universal Ltd has reported a standalone profit after tax of ₹62 crore for the quarter ended March 31, 2022, as compared to ₹59 crore (after an exceptional item), in the year-ago quarter. Standalone revenue from operations stood at ₹585 crore as against ₹509 crore.
For the full year, the net profit increased to ₹254 crore as compared to ₹184 crore. Revenue from operations stood at ₹2,215 crore as against ₹1,673 crore. On a consolidated basis, its profit after tax and non-controlling interest grew by 17 per cent to ₹333 crore in FY22 as against ₹284 crore in FY21, according to a statement
Consolidated sales for the year, increased by 26 per cent to ₹3,290 crore from ₹2,604 crore, driven by steady performance across business segments. On a consolidated basis, all segments reported strong growth in profitability for FY22.
Debt-equity ratio
The capital expenditure in FY22 was ₹170 crore at the consolidated level. The debt-equity ratio at the consolidated level was 0.09. Cash and cash equivalents including deposits with tenure exceeding three months net of borrowings were at ₹138 crore.
Free cash flow (FCF) for the year ended March 31, 2022, was at ₹118 crore, which at 35 per cent of PAT was lower compared to the previous financial year’s FCF, which was 133 per cent of FY21 PAT. This was mainly on account of strategically maintaining higher inventories considering an uncertain external environment and higher capex spend, the statement added.
Return on Invested Capital (ROIC) for three major segments together moved from 27 per cent in FY21 to 31 per cent in FY22.