Mar 08, 2018 03:52 PM IST | Source:

Buy Carborundum Universal; target of Rs 402: Axis Direct

Axis Direct is bullish on Carborundum Universal has recommended buy rating on the stock with a target price of Rs 402 in its research report dated February 22, 2018.

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Axis Direct's research report on Carborundum Universal

Carborundum’s (CUMI) operational performance in Q3FY18 was broadbased. In an inflationary situation, CUMI did well to improve margin (up 120 bps at ~17%) as it was able to get price hikes. Management expects the trend to continue over the next few quarters.


With strong demand and capacities in place, management expects revenue of ~Rs 32 bn (Rs 21 bn in FY17) over next 2 years. Upgrade to BUY with revised TP of Rs 402 (23x FY20E EPS) as we roll forward to FY20.

For all recommendations report, click here

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