Carborundum Universal Limited has informed the Exchange regarding Resignation of Mr. Sushil Kishor Bendale as Chief Financial Officer of the company w.e.f. September 26, 2025.
CARBORUNIV · price
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On the reaction day the stock moved 3.4 pts less than Nifty Smallcap 250 and 4.3 pts less than its Abrasives & Bearings peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Carborundum Universal reported Q1 FY26 consolidated sales of Rs. 1,207 crore, up 1.9% YoY, while consolidated profit after tax fell to Rs. 62 crore from Rs. 113 crore a year ago. Standalone sales rose 5.2% to Rs. 698 crore, with standalone PAT jumping to Rs. 145 crore (from Rs. 93 crore), helped by a one-time Rs. 68 crore dividend from a subsidiary. The Ceramics and Electrominerals segments grew, but the Abrasives segment declined 8% at the consolidated level, and consolidated Electrominerals profits fell sharply to Rs. 4.4 crore from Rs. 43 crore due to weak volumes at the Russian subsidiary VAW and low-cost import competition. Separately, CFO Mr. Sushil Kishor Bendale will step down effective September 26, 2025, to pursue opportunities outside the company. The results also flagged that Rs. 214 crore of cash at the Russian unit VAW remains unusable due to OFAC sanctions-related restrictions.
Mixed quarter — top-line growth was modest, but bottom-line was pressured by weak Abrasives and Electrominerals performance. The CFO exit could raise near-term transition concerns, though he is leaving voluntarily for outside opportunities rather than due to governance issues. Investors will watch for clarity on a successor and on any further impairment from the sanctioned Russian subsidiary VAW.