Raw Materials

Carborundum Universal

CARBORUNIVNSEMid CapParent: Murugappa Group

Live₹1,005syncing…

SiC, ceramics, abrasives and advanced materials player; SiC capability sets up direct semicon exposure.

Market Cap

₹19.1k cr

Price

1005

1Y -2%

Direct exposure

50/100

0–100 directness

Hold / Watchlist

Fundamental

60/ 100

Quality of growth, returns, cash conversion and balance sheet

Technical (TQ-100)

38/ 100

Trend, momentum, volume and relative strength composite

Valuation

48/ 100

Higher = cheaper vs peers and own history

Final composite

55/ 100

Blended decision input

Data transparency

What's real, what's pending, on this page

Real financials loaded

✓ Real / verified

· Live price, day change, market cap — NSE direct
· 1Y OHLCV, RSI(14), 50/200 DMA, 1M/3M/1Y returns, RS vs Nifty — computed from real NSE OHLCV
· Sector P/E — NSE direct
· Promoter %, pledge %, MF/FII/public split, 9-quarter history — Trendlyne
· Earnings call AI summaries — Trendlyne (where available)
· Technical (TQ-100) score — computed from real OHLCV
· Annual revenue / EBITDA / PAT / OCF / FCF / equity / assets — Trendlyne (audited annuals)

⚠ Analyst-set (qualitative)

· Segment classification + semicon directness score — analyst seed
· Bull/bear case + monitorables (curated thesis) — analyst seed
· Governance risk score (seed) — being replaced by AI-agent assessment
· Synthesized 5Y forecast removed entirely (was inaccurate)

Real financials extracted for 42 of 45 companies. See /data-sources for full provenance.

Carborundum Universal · CARBORUNIV

₹1,005+21.01% over 6M

Price50 DMA200 DMA

RSI (14)

Momentum oscillator · 6M view

Volume (60D)

Fundamental score (SageOne 100)

60/ 100B

Growth 20 / Margin 15 / ROC 20 / Cash 15 / Leverage 10 / Reinvestment 8 / Accounting 7 / Governance 5 minus red flags (capped -20).

Base 60

Growth quality/ 20

5.1

Rev 1Y 7.0% · 3Y CAGR 8.3%

Margin & profitability/ 15

9.0

EBITDA 18.8% · PAT 11.2%

Return on capital/ 20

10.6

ROCE 20% · ROE 14%

Cash flow quality/ 15

10.2

OCF/EBITDA 74% · FCF yield 1.7%

Leverage discipline/ 10

10.0

Net Debt/EBITDA -0.60x

Reinvestment runway/ 8

4.8

ROCE × retention proxy

Accounting quality/ 7

6.5

OCF conversion proxy

Governance/ 5

4.3

Pledge 0.0% · Risk 14/100

✓ Computed from real Trendlyne annuals (revenue, EBITDA, PAT, OCF, equity).

Technical score (TQ-100)

38/ 100D

Computed from real 1Y OHLCV pulled from NSE direct: trend, momentum, volume, RS vs Nifty, MA cluster, mean reversion, volatility, patterns minus red flags.

Base 48

Red flags -10

Trend structure/ 20

7.8

Below 200DMA · -2% from 52W high

Momentum velocity/ 15

11.3

RSI(14) 48 · 1M 1.0%

Volume dynamics/ 15

10.5

Bucket: Mid Cap

Relative strength/ 15

3.5

RS vs Nifty -16%

MA cluster/ 10

0.0

200DMA + 1Y trend confirmation

Mean-reversion runway/ 10

7.7

RSI(14) 48; ideal 50-60

Volatility profile/ 8

6.8

Bucket: Mid Cap

Pattern integrity/ 7

0.0

Trend continuation proxy

Red flags (1)

− Below 200 DMALong-term trend broken-10

AI research agents

Re-classify segment exposure and re-assess governance risk by running fresh AI agents on the latest data. Results cache to data/agents.json.

Segment classifier

Maps to value-chain segments + computes 0-100 directness

Seed: Raw Materials · 50/100

Governance assessor

Forensic-accounting flags + 0-100 risk score

Seed: 14/100 risk

AI thesis

Generates a fresh thesis grounded in this company's data. Wires to Anthropic when ANTHROPIC_API_KEY is set, otherwise returns a deterministic mock.

Curated thesis

Analyst-set bull, bear and monitorables · use AI thesis above for a fresh take

Quality Murugappa franchise with SiC and ceramics relevance to semiconductor stack.

Bull case

+SiC capability
+Murugappa parent quality
+Diversified portfolio

Bear case

−Cyclical abrasives demand
−Working capital
−Slow technical setup

Key monitorables

SiC revenue rampMargin trajectoryCapex on SiC

Semiconductor exposure

How direct, how visible

Primary segment

Raw Materials

All segments

Raw Materials

Exposure type

Indirect / pull-through

Policy beneficiary

Yes

Import substitution

High

Governance risk score

14/100 (lower = better)

Financial snapshot

Latest reported metrics · mock data, ready for live financials

Rev growth (1Y)

7.0%

Rev CAGR (3Y)

8.3%

EBITDA margin

18.8%

PAT margin

11.2%

ROCE

20%

ROE

14%

OCF / EBITDA

74%

Net Debt / EBITDA

-0.6x

Promoter holding

42.0%

Promoter pledge

0.0%

Valuation

P/E (TTM)

92.3

Forward P/E

30.0

EV/EBITDA

35.5

EV/Sales

6.7

P/B

8.3

FCF Yield

1.7%

Dividend Yield

0.40%

Hist. percentile

60%

Peer percentile

60%

Technicals

RSI(14)

1M return

1.0%

1Y return

-2%

From 52W high

-2%

RS vs Nifty

-16%

>200 DMA

Annual financials — real data

Extracted from Trendlyne · audited annuals · TTM + last 6 fiscal years

✓ Real

Line	TTM	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	₹3.0k cr	₹2.9k cr	₹2.7k cr	₹2.5k cr	₹2.3k cr	₹1.7k cr	₹1.7k cr
↳ YoY growth	+5.2%	+7.0%	+5.4%	+12.6%	+31.6%	+0.9%	—
EBITDA	₹506 cr	₹540 cr	₹496 cr	₹412 cr	₹317 cr	₹307 cr	₹324 cr
↳ EBITDA margin	16.8%	18.8%	18.5%	16.2%	14.1%	17.9%	19.1%
PAT	₹355 cr	₹322 cr	₹350 cr	₹331 cr	₹255 cr	₹184 cr	₹191 cr
↳ PAT margin	11.8%	11.2%	13.1%	13.0%	11.3%	10.7%	11.3%
OCF	₹190 cr	₹401 cr	₹344 cr	₹198 cr	₹271 cr	₹231 cr	₹122 cr
↳ OCF / EBITDA	37.6%	74.2%	69.3%	48.1%	85.4%	75.3%	37.5%
FCF (= OCF − capex)	₹-16 cr	₹324 cr	₹132 cr	₹-350 cr	₹58 cr	₹200 cr	₹94 cr
Total Equity	₹2.6k cr	₹2.3k cr	₹2.0k cr	₹1.7k cr	₹1.5k cr	₹1.4k cr	₹1.3k cr
Total Assets	₹2.9k cr	₹2.6k cr	₹2.4k cr	₹2.3k cr	₹1.8k cr	₹1.6k cr	₹1.5k cr
↳ ROE	13.9%	14.0%	17.5%	19.0%	16.6%	13.5%	15.0%
↳ ROA	12.4%	12.4%	14.4%	14.6%	13.8%	11.7%	12.5%

Source: Trendlyne (Standalone where Consolidated unavailable). Last refresh on real-data ingest.

Promoter pledge & shareholding history

From Trendlyne · 9 quarters · synced Invalid Date

Pledge: 0.0%

Promoter

38.9%

Mutual Funds

27.8%

FII

10.7%

Public

20.9%

Promoter holding trend

41.2

Mar

41.2

Jun

41.0

Sep

39.8

Dec

39.8

Mar

39.2

Jun

39.0

Sep

38.9

Dec

38.9

Mar

Δ:-2.3% over 9 quartersWatch — meaningful dilution

Commentary

·Slight promoter decline 41.2% to 38.9%
·No pledge
·Strong MF holding (27.8%)

Management quality

Capital allocation, debt discipline, alignment, governance composite. Computed from disclosed metrics.

Capital allocation

Sustained high return on capital indicates disciplined reinvestment.

ROCE 20%, div yield 0.4%

Promoter holding

Moderate promoter holding.

42.0%

Promoter pledge

No pledging — cleanest signal.

0.0%

Debt discipline

Net cash balance sheet.

Net Debt/EBITDA -0.60x

Cash conversion

Reported EBITDA reliably translates into cash.

OCF/EBITDA 74%

Governance composite

Clean governance signals across pledging, RPTs, auditor, KMP pay.

14/100 risk

Variant perception

What the market is pricing in versus our read, and what would invalidate the thesis.

What the market is pricing in

Steady but unspectacular execution. Multiples reflect mid-pack expectations.

What we think it's missing

Consensus appears reasonable. Look for thesis-changing catalysts (margin inflection, new customer wins, segment mix shift) rather than narrative re-rating alone.

Thesis killers

×Demand cycle softens enough to derail margin expansion

References

Wire to live data sources in production

NSE filings Screener BSE corporate filings Annual report (latest)Concall transcript (latest)Investor presentation