Carborundum Universal posts a good set of numbers for Q4FY21 by Mr. Jyoti Roy, Angel Broking Ltd
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Below are Quote on Carborundum Universal posts a good set of numbers for Q4FY21 by Mr. Jyoti Roy - DVP- Equity Strategist, Angel Broking Ltd
Carborundum Universal (CU) reported a good set of numbers for Q4FY21 as consolidated revenues registered a growth of 27.4% YoY to ₹756.6 crore. EBIDTA for the quarter stood at ₹158.5 crore up 54.6% YoY while EBIDTA margins expanded by 369bps to 20.9%. Profit before tax and exceptional items was up by 38.4% YoY to ₹146.3 crore. Due to exceptional items of Rs. 14.4 crore and higher tax rate net profit for the quarter registered a degrowth of 2.0% YoY to ₹90.5 crore. Overall the company has reported a good set of operating numbers for the quarter with a significant expansion in margins. Growth for the quarter was driven by the standalone entity which registered 39.4% YoY growth in revenues. Post the Q4FY21 numbers we continue to maintain our BUY rating on the stock with a target price of ₹600.
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