Carborundum Universal to pay Re. 1 final

03rd May. 2012

Carborundum Universal registered a 24 per cent rise in sales at Rs.1,969 crore for the year ended March 31, 2012, against Rs.1,592 crore in the previous year.

The ceramics segment recorded a growth rate in excess of 30 per cent for the full year. The abrasives and electrominerals business segments recorded growth rates in excess of 20 per cent. The profit, after tax, increased by 28 per cent to Rs. 219 crore from Rs.171 crore last year.

The company has announced a final dividend of Re. 1 per share (face value Re.1).

With a view to rationalising the holding structure, the company transferred its holdings in CUMI Abrasives and Ceramics Company, China, to its wholly-owned subsidiary in Cyprus.

Expansion plans

The company plans to keep the growth momentum by investing about Rs. 200 crore towards capital expenditure in the current financial year. For its domestic business, the company has lined up capacity expansion plans in abrasive thin wheels, converted coated products, sintered alumina grains, alumina zirconia grains and lined equipment fabrication facility.

Greenfield project

The company is pursuing opportunities to set up a greenfield project in a new location to meet the additional requirement of fired and castable refractories.

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