Murugappa Group firm Carborundum Universal Ltd has reported a consolidated net profit of ₹42.26 crore for the fourth quarter ended March 31, 2017, against ₹41.88 crore in a year-ago quarter.

Its gross profit for the March quarter stood at ₹73.48 crore against ₹67.76 crore in a year-ago period. Consolidated gross sales for the quarter grew by 11 per cent at ₹580.66 crore (₹524.23 crore).

For the year ended March 31, 2017, net profit stood at ₹164.69 crore against ₹139.69 crore in the previous year. Consolidated gross sales for the full year stood at ₹2199.90 crore against ₹2024.44 crore. “Consolidated sales for the full year, increased by 9 per cent to ₹2,200 crore from ₹2,024 crore, driven by better performance from all the divisions. At a standalone level, the growth was also at 9 per cent. Full year consolidated segmental profitability improved for abrasives and ceramics businesses on the back of higher sales volume,” according to a company statement.

The company spent ₹127 crore on capital expenditure in 2016-17. Owing to healthy cash generation during the fiscal, the company was able to pay back all the bank borrowings at the standalone level, resulting in nil bank borrowings.

At a consolidated level, the debt equity ratio was 0.11. The consolidated borrowing net of cash and cash equivalents was ₹31 crore. The board has recommended a final dividend of ₹0.75 per share (75 per cent on face value of ₹1) to the shareholders of the company.

Related Topics
comment COMMENT NOW