Carborundum Universal (CARBORUNIV) Q3 25/26 earnings summary

Executive summary

• Standalone Q3 FY26 sales rose 5.6% year-over-year to INR 769 crore, with abrasives up 9.8%, electrominerals up 8.9%, and ceramics down 3.8%.

• Consolidated Q3 FY26 sales were INR 1,273 crore, up 2.5% year-over-year; PAT at INR 76 crore, up from INR 35 crore last year.

• Standalone profit after tax for Q3 FY26 was INR 85 crore, up 31% sequentially and 4.9% year-over-year.

• Interim dividend of INR 1.50 per share declared for FY26.

Financial highlights

• Standalone nine-month sales at INR 2,179 crore, up 3.9% year-over-year; PAT at INR 294 crore, up from INR 260 crore.

• Consolidated nine-month sales at INR 3,766 crore, up 3.6% year-over-year; PAT at INR 212 crore, down from INR 264 crore due to exceptional items.

• Standalone PBIT for Q3 FY26 was INR 115 crore, up 32% sequentially and 5.3% year-over-year; margin rose to 15%.

• Capital expenditure for nine months at INR 248 crore.

Outlook and guidance

• Consolidated sales growth guidance maintained at 5%-6.5% for FY26.

• Ceramics sales growth guidance revised down to 13%-14% from 16%-18%; Q4 expected to be strong.

• Management monitoring impact of new Indian Labour Codes and geopolitical risks, especially regarding Russian subsidiary VAW.

• CapEx guidance for FY26 maintained at INR 350 crore.