Interim report
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murugappa CUMI 7th August 2026 BSE Limited 25th Floor , Phiroze Jeejeebhoy Towers Dalal Street , Fort Mumbai 400 001 National Stock Exchange of India Ltd. Exchange Plaza , 5th Floor Plot No. C / 1 , G Block Bandra - Kurla Complex , Bandra ( E ) Mumbai 400 051 Dear Sir / Madam , Stock Code : 513375 Stock Code : CARBORUNIV Sub : Outcome of the Board Meeting held on 7th August 2026 We refer to our letter filed on 28th July 2026 , intimating you of the convening of the meeting of the Board of Directors of the Company . In this regard , we wish to inform that the Board of Directors of the Company met today and approved the Unaudited financial results for quarter ended 30th June 2026 in Schedule III format prescribed under Regulation 33 of the SEBI ( Listing Obligations and Disclosure Requirements ) Regulations , 2015 ( hereinafter referred to as ' Listing Regulations ' ) and pursuant to SEBI Master Circular no . HO / 49 / 14 / 14 ( 7 ) 2025 - CFD- POD2 / 1 / 3762 / 2026 dated 30th January 2026. In this connection , we enclose the following : 1. Unaudited Financial Results for the quarter ended 30th June 2026 a . Standalone financial results for the quarter ended 30th June 2026 ; b . Consolidated financial results for the quarter ended 30th June 2026 ; c . Limited Review Report of M / s . Price Waterhouse Chartered Accountants LLP , Statutory Auditors on the Standalone and Consolidated financial results for the quarter ended 30th June 2026 ; d . A copy of the Press release being made on the financial results Pursuant to Regulation 47 of the Listing Regulations , we would be publishing an extract of the consolidated financial results along with a Quick Response ( QR ) code in English and Tamil newspaper within the stipulated time . The detailed standalone financial results and consolidated financial results of the Company would be made available on the website of the Company www.cumi-murugappa.com as well as on the websites of Stock Exchanges . Please note that the meeting of the Board of Directors of the Company commenced at 12 Noon and concluded at 01:50 p.m. Kindly take the above information on record . Thanking you . Yours faithfully , For Carborundum Universal Limited Rekha Surendhiran Company Secretary Encl .: a / a Carborundum Universal Limited Registered Office : ' Dare House ' , No. 234 , N.S.C. Bose Road , Parrys , Chennai - 600 001 , India | T : + 91-44-3000 6161 W : www.cumi-murugappa.com F : + 91-44-3000 6149 E : cumigeneral@cumi.murugappa.com CIN No .: L29224TN1954PLC000318
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~ • murugoppo CARBORUNDUM UNIVERSAL LIMIT ED CIN : L29224TN19S4PLC000318 Registered office: 'DARE HOUSE', No.234, N.S.C Bose Road, Parrys, Chennai • 600 001 STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2026 (Rs.in Lakhs) Quarter ended Year ended 30.06.2026 31.03.2026 30.06.2025 31.03.2026 5.No. Particulars unaudited Audited Unaudited (Refer Note Audited no : 4) 1 Income a) Sales I Income from operations 84613 84511 69828 302437 b) Other operating income 888 1016 851 3817 Revenue from operations 85501 85527 70679 306254 Other income· Refer Note : 2 1507 3948 8859 13850 Total income 87008 89475 79538 320104 2 Expenses a) Cost of mater ials consumed 36947 34892 30700 126281 b) Purchases of stock-in-trade 3712 4699 1558 11469 c) Changes in inventories of finished goods, stock-in- trade and work -in-progress (2082) (1295) (745) (3325) d) Employee benefits expense 8321 7603 7887 31750 e) Finance costs 48 16 . 16 f) Depreciat ion and amort isation expense 2592 2405 2301 9461 g) Power and fuel 7570 6937 6457 26949 h) Other expen ses 18445 18626 14735 65021 Total expenses 75553 73883 62893 267622 3 Profit before tax (1)·( 2) 11455 15592 16645 52482 4 Tax expense Current tax 2674 3250 2180 10980 Deferred tax (3) 98 (32) (126) Total tax expense 2671 3348 2148 10854 5 Net profit for the period (3)-(4) 8784 12244 14497 41628 6 Other comprehensive Income [OCI) Items that will not be reclassified to profit or loss Remeasurements of defined benefit plans . (73) 87 (578) Income tax relating to items that will not be reclassified to profit or loss . (28) . 35 Other comprehen sive Income· Total . (101) 87 (543) 7 Total comprehensive incom e (5) + (6) 8784 12143 14584 41085 8 Paid up Equity share capital (Face value · Re.1 per share) 1905 1905 1904 1905 9 Reserves excluding revaluation reserve 288822 10 Earnings per share (Rs.) on S.no. 5 Net profit for the period (not annualised) -Basic 4.61 6.43 7.61 21.86 ·Diluted 4.61 6.43 7.60 21.85
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~ CARBORUNDUM UNIVERSAL LIMITED murugappa CIN : L29224TN1954PLC000318 • Registered office: 'DARE HOUSE' , No.234, N.S.C Bose Road, Parrys, Chennai - 600 001 STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2026 STANDALONE UNAUDITED SEGMENTWISE REVENUE, RESULTS, ASSETS AND LIABILITIES (Rs.in Lakhs) Quarter ended Year ended S.No. Particulars 30.06.2026 31.03.2026 30.06.202S 31.03.2026 Unaudited Audited Unaudited (Refer Note Audited no:4) 1 Segment revenue Abrasives 32848 35279 28635 126957 Ceramics 27431 27875 23819 100014 Electromin erals 28226 25158 21229 90596 Total 88505 88312 73683 317567 Less: Inter- segment revenue 3892 3801 3855 15130 Sales I Income from operatio ns 84613 84Sll 69828 302437 2 Segment re sults (Profit(+) I Loss(-) before finance costs and tax) Abra sives 3432 6046 3747 19453 Ceramics 5868 5670 6164 21446 Electrominerals 3869 2757 702 8213 Total 13169 14473 10613 49112 Less: (i) Finance costs 48 16 - 16 (ii) Other unallocable expenses I (income) · net 1666 (1135) (6032) (3386) Profit before tax 11455 15592 16645 52482 Less : Tax expense 2671 3348 2148 10854 Net profit for the period 8784 12244 14497 41628 3a Segmental assets Abras ives 74722 70282 66483 70282 Ceramics 76110 72440 60802 72440 Electrominerals 61025 49598 42507 49598 Unallocabl e 133093 13494 5 135999 134945 344950 327265 305791 327265 3b Segmental liabilities Abrasives 11296 10472 9478 10472 Ceramics 11273 10764 8596 10764 Electrominerais 12253 8712 9193 8712 Unalloca ble 9921 6353 7755 6353 44743 36301 35022 36301
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(l) murugoppa Notes: CARBORUNDUM UNIVERSAL LIMITED CIN : U9224TN1954PLC000318 Registered office: 'DARE HOUSE', No.234, N.S.C Bose Road, Parrys, Chennai- 600 001 STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2026 The above results were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their respective meetings held on August 07, 2026 and were subjected to a limited review by the Statutory Auditors of the Company. 2 Other income for the quarter ended June 30, 2025 and March 31, 2026 includes dividend Income of Rs. 6, 765 lakhs and Rs. 819 lakhs, respectively, received from Southern Energy Development Corporation Umited, a subsidiary of the Company. The aggregate dividend Income received from the subsidiary during the year ended March 31, 2026 was Rs. 7,584 lakhs. 3 During the current quarter , the Company has allotte d 1000 equity shares pursuant to exercise of Employee Stock Options. 4 The figures for the quarter ended March 31, 2026, are the balancing figures between the audited figures In respect of the full financial year and the publ ished year-to-date figures upto the quarter ended December 31, 2025. 5 The standalone and consolidate d financial results are available on the website of the Company : www.cuml-murugappa .com and Stock exchanges : www .bseindla.com & www.nseindla.com . Chennai August 07, 2026 for Carborundum Universal Umited A{lfLq-H- M.M.Mu rugappan Chairman
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Q • murugoppo CARBORUNDUM UNIVERSAL LIMITED CIN : L29224TN1954PLC000318 Registered office: 'DARE HOUSE' , No.234, N.S.C Bose Road, Parrys, Chennai- 600 001 CONSOLIDATED UNAUOITED FINANCIAl RESULTS FOR THE QUARTER ENDED JUNE 30, 2026 (Rs. in lilkhs) Quarter ended Year ended 30.06.2026 31.03.2026 30.06.2023 31.03.202E S.No Particulars Unaudited Audited Unaudited Audited (Refer Note no: 6) 1 Income a) Sales I Income from operations 1410S7 138319 120665 514939 b) Other operating income 1606 1516 1237 5692 Revenue from operations 142663 139835 121902 520631 Other Income - Refer Note: 3 4470 2273 1873 7165 Total income 147133 142108 123775 527796 2 Expenses a) Cost of materia ls consumed 49432 53764 46160 191176 b) Purchase o f stock-In-trade 5883 7271 4265 21853 c) Changes In Inventories of finished goods, stock-in-trad e and work -in-progress 2291 (3705) (5412) (9320) d) Employee benefits expense 26804 24194 23798 95316 e) Finance costs 580 625 349 1876 f) Depreciation and amortisation expense 6551 6453 5889 24679 g) Power and fuel 14327 13618 12227 51440 h) Other expenses 30416 30276 28739 112273 Total expenses 136284 132496 116015 489293 3 Profit before share of profit of equity accounted investees, exceptional items and Income 10849 tax 111-121 9612 7760 38503 4{a) Share of profit of associate (net of tax) 232 191 142 546 4(b) Share of profit of joint ventu res (net of tax) 840 673 681 2577 5 Profit before excepti onal items and tax (3)+(4{all+{4(bll 11921 10476 8583 41626 6 Exceptional items- Refer Note : 2 - (13457) - (13457) 7 Profit before tax {5)+(6) 11921 (2981) 8583 28169 8 Tax expense Current tax 4366 4009 3518 15326 Deferred tax {479) (2989) (974) (3937) Tota l tax expense 3887 1020 2544 11389 9 Net Profit I (Loss) fo r the period (7)-(8) 8034 (4001) 6039 16780 Net Profit I (Loss) for the period attributable to : 9(a) - Own ers of the Company 7640 (1759) 6189 19473 9(b) - Non-controlling interest 394 (2242) (150) (2693) 10 Add : Other comprehensi ve Income A. Items that will not be reclassified to profit or loss (a) Remeasurement of the defined benefit plan - (2) 87 (507) (b) Equity Instrum ents through othe r comprehensive income - 1 - 1080 (c) Share of OCI In Associate and Joint Ventures, to the extent not to be reclassified to (7) 4 (5) (9) profit or loss (net of tax) Income tax relating to items that will not be reclassifi ed to profit or loss {46) (198) Total (7) (43) 82 366 B.ltems that may be reclassified to profit or loss (a) Exchange differences in translating the financial statement s of foreign operations 2150 6114 9670 24714 (b) Net gainl(loss) on Cash flow hedge - 9 12 (c) Share of OCI in Associate and Joint Ventures, to the extent that may be reclassified to profit or loss (net of tax) (9) 24 so 161 Income tax relating to items that may be reclassified to profit or loss - (2) (3) Total 2141 6138 9727 24884 Other comprehensiv e incom e - (A)+( B) 2134 6095 9809 252SO Other comprehensive incom e for the period attributa ble to : 10(a) - Owners of the Company 2116 5665 9507 23934 10(b) - Non-controlling Interest 18 430 302 1316 11 Total comprehensive income (9)+(10) 10168 2094 15848 42030 Total comprehensive income for the period attributable to : ll{a ) · Owners of the Compan y 9756 3906 15696 43407 ll(b) - Non-controlli ng inte rest 412 (181 2) 152 (1377) 12 Paid up equity share capital (Face value- Re.1 per share ) 1905 1905 1904 1905 _ 13 Reserves excluding revaluauon surplus 387840 ~~ ''" " 8' /flo"( P" '"'" (R>.( 00 S.oo.9(•J N« P<OfO< /(L ' d "'"b"'obl< <o ;, ~ ~·" "' of <he Compooy (oo< "'""'""" ;.o"se CIHU1C<cd ~ g al -BaSIC ~ rp~C~ 4.04 (0.93) 3.28 10.30 IS) 1 -D1iuted ~ ~ ~ 4.04 (0.93) 3.27 10.30 0.. .., ?. J ~ ~:;e: ~- "'11 * ' 0 . f:/ "No1215 / NSOOO\~ 1'\r-.., - * 6 Chennai *
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~ CARBORUNDUM UNIVERSAL LIMITED murugappa CIN : l29224TN19S4PLC000318 • Registered office: 'DARE HOUSE', No.234, N.S.C Bose Road, Parrys, Chennai • 600 001 CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30,2026 CONSOLIDATED UNAUDITED SEGMENTWISE REVENUE, RESULTS, ASSETS AND LIABILITIES (Rs. in Lakhs) Quarter ended Year ended 30.06.2026 31.03.2026 30.06.202S 31.03.2026 S.No. Particulars Unaudited Audited Unaudited Audited (Refer Note no:6) 1 Segment re venue Abrasives 60978 61009 50755 227056 Ceramics 34895 35131 29962 126804 Electrominerals 47282 42728 40493 163177 Others 3553 4556 4311 17509 Total 146708 143424 125S21 534546 less: Inter-segment reven ue 5651 5105 4856 19607 Sales /Income from operations 141057 138319 120665 514939 2 Segment results (Profit( +) /loss(·) before Finance costs, exceptional items and tax) Abrasives· Refer Note : 3 3961 3157 1140 9655 Ceramics 7447 6254 7489 25619 Electrominerals 2197 1912 443 9091 Others (276) (106) (202) (183) Total 13329 11217 8870 44182 Less: (i) Finance costs 580 625 349 1876 (ii) Other unallocab le expenses (net) 1900 980 761 3803 Profit before share of profit of equity accounted investees, 10849 9612 7760 38503 exceptional items and tax Add :Share of profit from Associate and Joint Ventures (net of tax) 1072 864 823 3123 Profi t before exceptio nal items and tax 11921 10476 8583 41626 Add : Exceptional items- Refer Note : 2 (13457) {13457) Profit I (Loss) before tax 11921 (2981} 8583 28169 Less : Tax expense 3887 1020 2544 11389 less : Attributab le to Non-controlling intere sts 394 (2242) (150) (2693) Profit I (Loss) after tax, share of profit from Associate, Joint 7640 (1759) 6189 19473 Ventures and non-controlling interests 3a Segmental assets Abrasives 201037 193708 191227 193708 Ceramics 116005 113868 96638 113868 Electromin erals 151149 138168 123328 138168 Others (includin g un-allocable) 68484 83311 81108 83311 Total segmental assets 536675 529055 492301 529055 3b Segmental liabilities 9 Abrasives 36169 35217 27474 352 17 Ceramics ul'>e Chartered~ 21004 20509 17374 20509 o:: Chennai ~} Electrom inerals c: cc ~ 27224 23587 22534 23587 ~ 600001 Others (includ ing un-allocable) ~~ INA~ 42014 489 12 43347 48912 d-6- " Total segmental liabili ties '2.. \1126411 128225 110729 128225 ;:; *.oY. ~ ~ 0127S4N 1 N ~L.E_enna1~
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(t) murugoppo Notes: CARBORUNDUM UNIVERSAL LIMITED CIN No: l29224T N1954PLC000318 Registered office: 'DARE HOUSE', No.234, N.S.C Bose Road, Parrys, Chennai - 600 001 CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2026 0 1 The above results were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on August 07, 2026 and were subjected to a limited review by the Statutory Audit ors of the Company. Exceptional items repr esent the following : (Rs in Lakhs) Quarter ended Year ended 30.06.2026 31.03.2026 30.06.2025 31.03.2026 Particulars Unaudited Audited Unaudited Unaudited (Refer Note no:6) Write-down of various assets and recognition of restructuring costs in relation to decision to wind (11.856) (11,856) down t he operations of CUMI AWUKO Abrasives GmbH (CAAG), a step-down subsidiary of the Holding Company (Refer Note 2B below) Write-down of various assets of Foskor Zirconia (Pty) Ltd (FZL), a step-down subsidiary of the Holding (1,601) (1,601) Company (Refer Note 2C below) Total (13,457) (13,457) 2A The geo-po litical situation continues to present an uncertain environment for the operations of the step-down subsidiary, Volzhsky Abrasive Works (VAW), Russia, held through CUMI International ltd Includin g those arising from international sanctions and territory embargoes . As per the US Department of State's press release dated January 10. 2025, a set of Russian companies in the manufactur ing sector which includes VAW were added to the US Department of Treasury's Office of Foreign Assets Control (OFAC)'s Specially Designated Nation als and Blocked Persons list (SON list), for operating or having operated in the manufacturing sector of the Russian Federation economy. As a result of VAW's designation, all of VAW's property and interests in property that are in the United States or in the possession or control of US persons are blocked. Further, most financial transactions involving US currency and transactions Involvi ng US persons are not possible for VAW unless authorized by a general or specific license issued by OFAC or exempt. Consequent to the above designation, the Company (CUMI) made a detail ed assessment of the liquidity position of VAW including its ability to continue as a going concern, contro l over the entity and had also comprehensive ly assessed the recoverability and carrying values of its assets comprising of property, plant and equipment, intangible assets, trade receivables, inven tory and other assets as at the respective balance sheet date including the related goodwill at CUMI International ltd's consolidated level. Basis the above assessment, an impairment expense (representing certain balances held in foreign currency with a clearing agency by VAW and export receivables of VAW outside the Group) amounting to Rs.l0,4131akhs had been recognised in the prior years. No additional impairment was deemed necessary for the current period. Cash and cash equivalents of VAW amounting to Rs. 36,090 lakhs are not available for use by other entities within the Group due to temporary repatriation restrictions. The impact assessment is a continuing process and given the evolving nature of uncertainties associated, the Holding Company will continue to monitor all material changes to the internal and external environment . 2B On March 30. 2026. the Board of Directors of CUMIIn terna tional Limited, Cyprus (Cil), the holding company of CUMI AWUKO Abrasives GmbH (CAAG), a step-down subsidiary of the Holding Company in Germany, approved the ini tiation of the closure of CAAG through a voluntary winding-up process in accord ance with the applicable laws In Germany. This decision was taken In view of the continued underperformance of CAAG, characterise d by mounting losses and its inability to achieve a turnaround given the prevailing market condi tion s. CAAG is not a mate rial subsidiary of the Group, and according ly, Its wind ing down is not expected to have an adver se Impact on the Group's overall business operations . Pursuant to this decision. the financial information of CAAG has been prepared on a realisable value (non-going concern) basis. In this context, the Group performed a detailed assessment of the carrying value of assets and the recognition of liabilities In connection with the wind ing down of operati ons and recognised an expense of Rs. 11,856 lakhs under the heading exceptional items in the consolida ted financial results in the prior year, repre senting write-down of various assets and recognition of restructuring costs. No additional provis ion was required to be recognised for the current period. 2C On May 13, 2026, the Board of Directors of Foskor Zirconia (Pty) l td, South Africa (FZL), a step-down subsidiary of the Holding Company in South Africa. reviewed the financial position of FZL and concluded that it is not in a position to continue the operations and there is no realistic alterna tive. This assessment was based on the continued underperformance of FZL. evidenced by sustained losses and the absence of a viable turnaround in light of prevailing market condi tions. Consequent to this decision, the financial information of FZL has been prepared on a realisable value (non-going concern) basis. In this context. the Group perfo rmed a detailed assessment of the carry ing value of assets and has recognised an impairment expense of Rs. 1,601 lakhs under the heading exceptiona l items in the consolidated financial results in the prior year. representing a write-down of various assets. No additional provision was required to be recognised for the current period. 3 Amount for the quarter ended June 30, 2026, •ncludes a gam of Rs. 2,518 lakhs from Sterling Abrasives Lim• ted, a subsidiary of the Company, arising from the transfer of leasehold rights of immovable property and the related building.
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Q murugoppo CARBORUNDUM UNIVERSAL UMITED CIN No: L29224TN1954PLC000318 Registered office: 'DARE HOUSE', No.234, N.S.C Bose Road, Parrys, Chennal • 600 001 CONSOUDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2026 4 Summary of key standalone finandal results of Carborundum Universal Umited is as follows · Quarter ended 30.06.2026 31.03.2026 30.06.2025 Particulars Unaudited Audited Unaudited (Refer Note no: 6) Revenue from operations 85501 85527 70679 Profit before tax 11455 15592 16645 Net profit after tax 8784 12244 14497 Total com prehensive Income 8784 12143 14584 5 During the current quarter, the Company has allotted 1.000 equity shares pursuant to exercise of Employee Stock Option s. (Rs in Lakhs) Year ended 31,03.2026 Audited 306254 52482 41628 4108 5 6 The figur es for the quart er ended March 31, 2026, are the balancing figur es between the audited figur es In respect of the full financial year and the publi shed year·tO·date figures upto the quarter ended December 31, 2025. 7 The standalone and consolidated financ ial results are available on the website of the Company : www .cumi·murugappa .com and Stock exchanges : www .bseindia.com & www.nselndia.com. Chennal August 07, 2026 For Carborundum Universal Umlted IIHH--. ·t·rr·- M.M. Murugappan Chairman
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Price Waterhouse Chartered Accountants LLP Review Report To The Board of Directors Carborundum Universal Limited, "Dare House", No.234, N.S.C Bose Road, Parrys, Chennai- 6oo 001. 1. We have reviewed the standalone unaudited financial results of Carborundum Universal Limited (the "Company") for the quarter ended June 30, 2026, which are included in the accompanying 'Standalo ne Unaudited Financial Results for the quarter ended June 30, 2026' (the "Statement"). The Statement has been prepared by the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirement s) Regulations, 2015, as amended (the "Listing Regulations, 2015"), which has been initialled by us for identification purposes. 2. This Statement, which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepar ed in accordance \-vith the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. 3· We conduct ed our review of the Statem ent in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstateme nt. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4· Based on our review conducted as above, nothing has come to our attention that causes us to believe that the Statement has not been prepared in all material respects in accorda nce with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India and has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement. Place: Chennai Date: August 7, 2026 For Price Water hous e Chartered Accountan ts LLP Firm Registration~mber: 012754N/N500016 ~~ . . B~~vam Partner Membership Number: 213126 UDIN: ~6~\3\~ )(QC.~ Ut:3bS'g Price vVaterhouse Chartered Accountants LLP, ?th & 10th Floor, Menon Eternity, No. 165, St Mary's Road, Alwarpet Chennai- 6oo 018 T: + 91 (44) 42285 278 Registered office and Head Office: II·A. vishnu Oigambar ~!J rg. Sucheta llhawon. GJtc Ko 2. Ke-• Delhi · 110002 Price Waterhouse (a PJnn ership Firm) Con"e ned into Price Waterhouse Chanered Accountants LLP (• Limited LiJbility Pann ership '•ith LLP identity no: LLPI~AAC-;<>o1 ) ,.;th eff<CI from July 2.). 201 ~. Post its con,·ersion to Price 1\.Jterhouse ChJnered AceountJnts LI.P. its ICAI «3istration number is 012754 ~/:->5000 1 6 (I C.\ I rogistr.ltion number before con""rsion was 0 12754K)
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Price Waterhouse Chartered Accountants LLP Review Report To The Board of Directors Carborundum Universal Limited, "Dare House", No.234, N.S.C Bose Road, Parrys, Chennai - 6oo 001. 1. We have reviewed the consolidated unaudited financial results of Carborundum Universal Limited (the "Holding Company"), its subsidiari es (the Holding Company and its subsidiaries hereinafter referred to as the "Group"), and its share of the net profit after tax and total compreh ensive income of its joint ventures and an associate company along with its wholly owned subsidiaries (the "Associate ") (refer paragraph 4 below) for the quarter ended June 30, 2026, which are included in the accompanying 'Consolidat ed Unaudited Financia l Results for the quarter ended June 30, 2026 ' (the "Statement"). The Statement is being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations, 2015"), which has been initialled by us for identification purpos es. 2. This Statement, which is the responsibility of the Holding Company's Management and has been approved by the Holding Company' s Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting ", prescribed under Section 133 of the Companies Act, 20 13, and other accounting principles generall y accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements ('SRE') 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstat ement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conduct ed in accordanc e with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicabl e. Price Waterhouse Chartered Account ants LLP, 7th & 10th Floor, Menon Eternit y, No. 165, St Ma11·'s Road, Alwarpet Chennai- 6oo 018 T: + 91 (44) 422852 78 1\e)\istcrcd office Jnd I lead o mcc: 11·.\ . \'ish nu Di~a mbJ r ~I a~, Suchcla llhawan. Gale :\o 2. :\cw Delhi · 110002 [lrice \\'.stcrhousc (a l,Jrt n cr~ h ip Finn) Con\'Cr1cd into f' ricc \\'atC'rho usc ChJ rtcrc<.l.\C'CQuntJnts I.I.P (J Umit cd Uability PJ rtncrship "ilh LU•idc ntity no: I. I. PI ~.\.. \C · 500 1) \\ith c((c-ct from July 2;), ~014 . Post its com·crsion to l'ricc \\'atcrhousc Chart ered .\ ccoun t an t~ L.I.P. its IC.\ 1 registration number is Ot2i:"'14:\/ ~500 cH(l (JC.\ 1 registration number before conversio n \\'as 0 1:!7,54:\)
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Price Waterhouse Chartered Accountants LLP 4· The Statement includes the results of the following entities: Subsidiaries: i. CUM! Abrasives and Ceramics Co., Limited ii. CUM! America, Inc. iii. CUM! (Australia) Pty Limited iv. CUM! AWUKO Abrasives GmbH v. CUM! International Ltd vi. CUM! Middle East FZE vii. CUMI USA, Inc. and its wholly owned subsidia ry viii. Foskor Zirconia (Pty) Ltd ix. Net Access India Limited x. PLUSS Advanced Technologi es Limited and its wholly o•..vned subsidiary xi. RHODIUS Abrasives GmbH and its wholly owned subsidiaries xii. Sterling Abrasives Limited xiii. Southern Energy Development Corporation Limited xiv. Volzhsky Abrasive Works Join t Ventures: l\:v. Ciria India Limited x'Vi. Murugappa Morgan Thermal Ceramics Limited Assoc iate: xvu. Wendt (India) Limited and its wholly owned subsidiaries S· Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the considera tion of the review reports of the other auditors referred to in paragraph 7 below, nothing has come to our attent ion that causes us to believe that the accompanying Statement has not been prepared in all material respects in accordance with the recognition and measu rement principles laid down in the aforesaid Indi an Accounting Standard and other accounti ng principles generally accepted in India and has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. We draw attention to: 1. Note 2A of the Statement, which describes the uncertain operating environment for the Holding Company's step-down subsidiary, Volzhsky Abrasive Works, Russia ('VAW'), including YAW's inclusion in the United States of America's Department of Treasury's Office of Foreign Assets Control's Specially Designated Nationals and Blocked Persons List. As described in the aforementioned Note, the Holding Company has undertaken an assessment of the recoverability of various assets and recorded an impairment expense (rep resenting certain balances held in foreign currency with a clearing agency by VAW and export receivables ofVAW outside the Group) of Rs. 10,413lakhs in the prior years. Further, as described in the aforementioned Note, the impact assessment is a continuing process and given the evolving nature of the uncertainties associated, the Holding Company will continue to monitor all material changes to the internal and external environment.
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Price Waterhouse Chartered Accountants LLP ii. Notes 2B and 2C of the Statement, which describe that the financial information of two step down subsidiaries, CUMI AWUKO Abrasives GmbH, Germany ('CAAG') and Foskor Zirconia (Pty) Ltd, South Africa ('FZL'), have been prepared on a realisable value basis of accounting for the reasons mentioned in the aforesaid Notes. In this regard, the Group has recorded an aggregate expense of Rs. 13,457 lakhs under "Exceptional items" in the Statement in the prior year, representing write-down of various assets (of CAAG and FZL) and recognition of restructuring costs (of CAAG). Our conclusion on the Statement is not modified in respect of the above matters. 7. The interim financial statements/ financial information/ financial results of twelve subsidiaries reflect total revenues of Rs. 62,787 lakhs, total net loss after tax of Rs. 15,138 lakhs and total comprehensive income of Rs. (9,318) lakhs, for the quarter ended June 30, 2026, as considered in the consolidated unaud ited financial results. The consolidated unaudited financial results also include the Group's share of net profit after tax of Rs. 840 lakhs and total comprehensive income of Rs. 840 lakhs for the quarter ended June 30, 2026, in respect of two joint ventures. These interim financial state ments/ financial information/ financial results have been reviewed by other auditors and their reports , vide which they have issued an unmodified conclusion, have been furnished to us by the Holding Company's Management or other auditors and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and joint ventures, is based on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. Of the a bove, the interim financial state ments/ financial information of six subsidiaries incorporated outside India reflect total revenues of Rs. 31,159 lakhs, total net loss after tax of Rs. 13,862 lakhs and total comprehensive income of Rs. (13,862) lakhs for the quarter ended June 30, 2026, as considered in the Statement. The interim financial statements/ financial information of the said subsidiaries have been prepared in accordance with accounting principles generally accepted in the subsidiaries' country of incorporation which have been reviewed by the auditor of the said subsidiaries under generally accepted review standards applicable in their respective countri es, and upon which the subsidiaries ' auditor vide their review reports have issued an unmodified conclusion. The Holding Company's Management has converted the interim financial statements/ financial information of the said subsidiaries from the accounting principles generally accepted in the subsidiaries' country of incorporation to the accounting principles generally accepted in India. We have reviewed these conversion adjustments made by the Holding Company's Management. Our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of the said subsidiaries is based on the review report of the other auditors and the conversion adjustments prepared by the Holding Company's Management as reviewed by us and the procedures performed by us as stated in paragraph 3 above. Our conclusion on the Statement is not modified in respect of the above matt ers.
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Price Waterhouse Chartered Accountants LLP 8. The consolidated unaudited financial results include the interim financial information of a subsid iary which has not been reviewed/ audited by their auditor, whose interim financial information reflect total revenue of Rs. Nil, total loss after tax of Rs. 24 lakhs and total comp rehe nsive incom e of Rs. (24) lakhs for the quarter ended June 30, 2026, as considered in the consolidated unaudited financial results. According to the information and explanations given to us by the Holding Company's Management, this interim financial information is not material to the Group. Our conclusion on the Statement is not modified in respect of the above matter . Place: Chennai Date: August 7, 2026 For P rice Waterhouse Ch artered Accoun tants LLP Firm Reg~Z'mbe " ",~2754N/Nsooo•6 ~m Partner Membership Number: 213126 UDIN:~.{;&t3 \ ~b""f+.ATGf €?001'\
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Carborundum Universal’s Q1 FY 2026-27 Consolidated Sales at Rs.1411 Crores PAT at Rs.76 Crores Standalone Sales at Rs.846 Crores PAT at Rs.88 Crores Chennai, 7th August 2026: The Board of Directors met today and approved the results for the quarter ended June 30, 2026. Financial performance In Q1FY27, Standalone sales of Rs. 846 Cr grew by 21.2% compared to sales of Rs. 698 Cr in Q1FY2 6. Electrominerals segment grew by 33.0%. Abrasives and Ceramics grew by 14.7% and 15.2% respectively compared to Q1FY26. In Q1FY27, Consolidated sales of Rs. 1411 Cr grew by 16.9% compared to sales of Rs. 1207 Cr in Q1FY26. Abrasives segment grew by 20.1%. Ceramics and Electrominerals segments grew by 16.5%, and 16.8% respectively compared to Q1FY26. In Q1FY27, Standalone PAT was Rs. 88 Cr as compared to Rs. 77 Cr in Q1FY2 6, excluding the one -time dividend of Rs. 68 Cr received from a subsidiary in Q1FY26. In Q1FY27, Consolidated Profit after tax and non-controlling interest was Rs.76 Cr, which is a 23.4% growth compared to Rs. 62 Cr in Q1FY26, and loss after tax of Rs. 18 Cr in Q4FY26. At the consolidated level, capital expenditure incurred during Q1FY27 was Rs.54 Cr, and the debt equity ratio was 0.05. Abrasives Consolidated sales for Q1FY27 was Rs. 610 Cr. This is an increase of 20.1% compared to Q1FY26, and at a similar level compared to Q4FY26. Standalone sales for the quarter was Rs. 328 Cr. This is a growth of 14.7% compared to Q1FY26, and a decline of 6.9% compared to Q4FY26. In Q1FY27, consolidated profits before finance costs and tax was Rs. 40 Cr, compared to Rs. 11 Cr in Q1FY26, and Rs. 32 Cr in Q4FY26. Standalone PBIT was Rs. 34 Cr, which is an 8% drop compared to Q1FY26, and lower than PBIT of Rs. 60 Cr in Q4FY26. Electro Minerals In Q1FY27, consolidated sales was Rs. 473 Cr. This is a growth of 16.8% compared to Q1FY26, and a growth of 10.7% compared to Q4FY26. Standalone sales for the quarter was Rs. 282 Cr. This is the growth of 33.0% compared to Q1FY26 and a growth of 12.2% compared to Q4FY26. In Q1FY27, consolidated profit before finance cost and tax was at Rs.22 Cr, compared to Rs. 4 Cr in Q1FY26, and Rs. 19 Cr in Q4FY26. Standalone PBIT was Rs.39 Cr as compared to Rs.7 Cr in Q1FY26 and 40.3% higher as compared to Q4FY26.
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Ceramics Consolidated Sales for Q1FY27 was Rs. 349 Cr. This is a growth of 16.5% compared to Q1FY26, and a drop of 0.7% compared to Q4FY26. Growth was driven by the Standalone Business. Standalone sales for the quarter was Rs.274 Cr. This is a growth of 15.2% compared to Q1FY26 and a drop of 1.6% compared to Q4FY26. In Q1FY27 Consolidated Profit before finance cost and tax of Rs.74 Cr was at a similar level to Q1FY26, and higher by 19.1% as compared to Q4FY26. Standalone PBIT was Rs.59 Cr as compared to Rs.62 Cr in Q1FY26 and higher by 3.5% as compared to Q4FY26.
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About Murugappa Group A 125-year-old conglomerate with presence across India and the world, the INR 902 billion (90,178 crore) Murugappa Group has diverse businesses in agriculture, engineering, financial services and more. The Group has 10 listed companies: Carborundum Universal Limited, CG Power & Industrial Solutions Limited, Cholamandalam Financial Holdings Limited, Cholamandalam Investment & Finance Company Limited, Coromandel International Limited, E.I.D.-Parry (India) Limited, NACL Industries Limited, Shanthi Gears Limited, Tube Investments of India Limited, and Wendt (India) Limited. Other major companies include Cholamandalam MS General Insurance Company Limited and Parry Agro Industries Limited. Brands such as Ajax, Hercules, BSA, Montra, Montra Electric, Mach City, Chola, Chola MS, CG Power, Shanthi Gears, CUMI, Gromor, Paramfos, Parry’s are part of the Group’s illustrious stable. Abrasives, technical ceramics, electrominerals, electric vehicles, auto components, fa ns, transformers, signalling equipment for railways, bicycles, fertilisers, sugar, tea, and several other products make up the Group’s business interests. Guided by the Five lights — integrity, passion, quality, respect, and responsibility — and a culture of professionalism, the Group has a workforce of 94,041employees. For more information, see www.murugappa.com For further information, please contact: Shamitha Hegde Adfactors PR +91-90031 07361