Outcome of the Board Meeting.
CARBORUNIV · price
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Carborundum Universal (CUMI) announced its Q1 FY26 results on August 7, 2025. Consolidated sales rose 1.9% year-on-year to Rs. 1,207 crore, but consolidated profit after tax (attributable to owners) fell sharply to Rs. 62 crore from Rs. 113 crore in Q1 FY25. Standalone sales grew 5.2% to Rs. 698 crore and standalone PAT jumped to Rs. 145 crore from Rs. 93 crore, helped by a one-time dividend of Rs. 68 crore from subsidiary Southern Energy Development Corporation. Segment-wise, Ceramics grew 11.1% and Electro Minerals 6.3% on the consolidated side, while the Abrasives segment declined 8% with PBIT falling from Rs. 55 crore to Rs. 11 crore. The company also announced that CFO Sushil Kishor Bendale will step down effective September 26, 2025 to pursue opportunities outside the company.
Mixed quarter for shareholders – standalone performance is strong but boosted by a one-time dividend, while consolidated earnings are under pressure from weak Abrasives volumes and ongoing troubles at Russian subsidiary Volzhsky Abrasive Works (VAW), which is under US OFAC sanctions. The CFO exit adds a short-term leadership uncertainty, though succession details are yet to be announced.