InvestorQ : What is your view on Carborundum Universal after its latest results for the Mar-20 quarter?
Niti Shenoi made post

What is your view on Carborundum Universal after its latest results for the Mar-20 quarter?

Answer
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Archita Jajjoo answered.
3 months ago


Carborundum Universal, part of the Murugappa Group in Chennai, reported 25% higher net profits of Rs.62.41 crore for the Mar-20 quarter. Sales revenues for the quarter came in nearly 20% lower at Rs.387.40 crore largely due to the impact of COVID-19. The abrasives business, which accounts for over 50% of the total revenues of the company saw sales falling by over 10%. One can look to hold on to the stock although fresh positions may not be appropriate at this point of time.