Sharekhan's research report on Carborundum Universal
Q3FY2021 performance remained strong on all parameters (better than estimates), led by improving business sentiment and strong demand across segments. Strong domestic operations led by core user industries along with improving overseas operations aided by capacity expansion, success of new products, and being an alternative global supplier are likely to aid domestic and exports growth. Strong balance sheet, healthy return ratios and consistent dividend paying record are key salient features.
Outlook
We retain Buy on Carborundum Universal Limited (CUMI) with a revised PT of Rs. 540, considering its reasonable valuations and healthy earnings growth profile.
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