Financials Carborundum Universal Limited Bombay S.E.

Equities

CARBORUNIV

INE120A01034

Commodity Chemicals

Market Closed - Bombay S.E. 06:00:50 2024-05-03 am EDT 5-day change 1st Jan Change
1,445 INR -4.18% Intraday chart for Carborundum Universal Limited +0.17% +29.78%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 77,619 42,050 96,587 151,458 187,228 274,247 - -
Enterprise Value (EV) 1 77,563 38,964 90,024 150,065 185,528 241,313 268,504 265,239
P/E ratio 31.4 x 15.4 x 34 x 45.5 x 45.3 x 52.4 x 47.4 x 40.5 x
Yield 0.67% 1.24% 0.59% 0.44% 0.36% 0.32% 0.36% 0.49%
Capitalization / Revenue 2.89 x 1.62 x 3.67 x 4.56 x 4.02 x 5.13 x 5.18 x 4.59 x
EV / Revenue 2.88 x 1.5 x 3.42 x 4.51 x 3.99 x 5.13 x 5.07 x 4.44 x
EV / EBITDA 17.7 x 9.77 x 19.3 x 26.9 x 28.5 x 32.7 x 31.7 x 26.4 x
EV / FCF 72.5 x 14 x 25.5 x 185 x 135 x 69.5 x 48.4 x 47.1 x
FCF Yield 1.38% 7.16% 3.92% 0.54% 0.74% 1.44% 2.07% 2.13%
Price to Book 4.5 x 2.26 x 4.53 x 6.4 x 6.64 x 8.54 x 7.38 x 6.57 x
Nbr of stocks (in thousands) 189,154 189,412 189,573 189,857 189,944 190,258 - -
Reference price 2 410.4 222.0 509.5 797.8 985.7 1,441 1,441 1,441
Announcement Date 4/26/19 6/6/20 4/28/21 5/13/22 5/8/23 5/3/24 - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 26,889 25,990 26,317 33,248 46,543 47,022 52,964 59,696
EBITDA 1 4,383 3,986 4,656 5,569 6,519 7,388 8,479 10,049
EBIT 1 3,300 2,941 3,661 4,424 5,018 5,481 6,746 8,305
Operating Margin 12.27% 11.32% 13.91% 13.31% 10.78% 11.66% 12.74% 13.91%
Earnings before Tax (EBT) 1 3,488 3,505 3,946 4,765 5,799 6,502 7,392 8,867
Net income 1 2,477 2,724 2,843 3,333 4,140 4,612 5,713 6,769
Net margin 9.21% 10.48% 10.8% 10.03% 8.89% 9.81% 10.79% 11.34%
EPS 2 13.07 14.38 14.99 17.52 21.74 24.22 30.39 35.61
Free Cash Flow 1 1,070 2,790 3,527 813 1,373 3,892 5,547 5,637
FCF margin 3.98% 10.74% 13.4% 2.45% 2.95% 8.32% 10.47% 9.44%
FCF Conversion (EBITDA) 24.41% 70% 75.75% 14.6% 21.07% 55.35% 65.42% 56.1%
FCF Conversion (Net income) 43.2% 102.43% 124.05% 24.39% 33.17% 86% 97.09% 83.28%
Dividend per Share 2 2.750 2.750 3.000 3.500 3.500 4.593 5.155 7.022
Announcement Date 4/26/19 6/6/20 4/28/21 5/13/22 5/8/23 5/3/24 - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 7,336 7,566 7,116 8,446 8,992 8,693 11,398 11,278 11,871 11,996 12,032 12,445 12,059 11,915
EBITDA 1 1,298 1,585 1,182 1,500 1,616 1,170 1,275 1,630 1,710 1,903 1,795 1,868 1,761 1,832
EBIT 1 1,051 1,310 925.9 1,232 1,337 826.7 846.4 1,185 1,237 1,520 1,338 1,442 1,318 1,342
Operating Margin 14.33% 17.32% 13.01% 14.59% 14.87% 9.51% 7.43% 10.51% 10.42% 12.67% 11.12% 11.59% 10.93% 11.27%
Earnings before Tax (EBT) 1 1,094 1,319 1,015 1,309 1,412 927.1 1,050 1,215 1,409 1,896 1,595 1,511 1,469 1,473
Net income 1 876.5 905.3 771.3 976.3 1,016 570.3 787.7 889.9 1,091 1,371 1,132 1,191 1,158 1,216
Net margin 11.95% 11.97% 10.84% 11.56% 11.29% 6.56% 6.91% 7.89% 9.19% 11.43% 9.41% 9.57% 9.6% 10.2%
EPS 2 4.620 4.770 4.060 5.140 5.340 3.000 4.140 4.680 5.730 7.200 5.940 6.250 6.267 6.200
Dividend per Share - - - - - - - - - - - - - -
Announcement Date 2/2/21 4/28/21 8/2/21 11/1/21 2/10/22 5/13/22 8/1/22 10/28/22 1/31/23 5/8/23 8/2/23 - - -
1INR in Million2INR
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 56.5 3,086 6,563 1,394 1,700 3,561 5,743 9,007
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 1,070 2,790 3,527 813 1,373 3,893 5,547 5,637
ROE (net income / shareholders' equity) 15.1% 15.2% 14.8% 14.8% 16% 15.1% 16.7% 17.5%
ROA (Net income/ Total Assets) 11.4% 12% - - - 13.1% 14.3% 16.3%
Assets 1 21,653 22,619 - - - 34,645 39,888 41,518
Book Value Per Share 2 91.10 98.10 112.0 125.0 149.0 169.0 195.0 219.0
Cash Flow per Share 2 - - - - - 32.90 38.60 47.10
Capex 1 948 1,279 981 1,632 2,929 2,348 1,984 2,043
Capex / Sales 3.53% 4.92% 3.73% 4.91% 6.29% 5.02% 3.75% 3.42%
Announcement Date 4/26/19 6/6/20 4/28/21 5/13/22 5/8/23 5/3/24 - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
12
Last Close Price
1,441 INR
Average target price
1,265 INR
Spread / Average Target
-12.25%
Consensus
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