Interim report
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2nd November 2026 BSE Limited 25th Floor, Phiroze Jeejeebhoy Towers Dalal Street, Fort Stock Code: 513375 Mumbai 400 001 National Stock Exchange of India Ltd. Exchange Plaza, 5th Floor Plot No. C/1, G Block Bandra-Kurla Complex, Bandra (E) Stock Code: CARBORUNIV Mumbai 400 051 Dear Sir/Madam, Sub: Outcome of the Board Meeting held on 2nd November 2026 We refer to our letter filed on 16th October 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/half year ended 30 th September 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/I/3762/2026 dated 30 th January 2026. In this connection, we enclose the following: 1. Unaudited Financial Results for the quarter /half year ended 30 th September 2026 a. Standalone financial results for the quarter/half year ended 30th September 2026; b. Consolidated financial results for the quarter/half year ended 30th September 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/half year ended 30th September 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 f inancial 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. 2. Update on closure of a wholly owned subsidiary Further to our intimation dated 30th March 2026 regarding the decision of the Board of CUMI International Limited to initiate closure of CUMI Awuko Abrasives GmbH (CAAG), a wholly owned step down subsidiary of the Company, we wish to update that the closure process is progressing in accordance with applicable German laws. As part of the closure process, CAAG entered into agreements in October 2026 for the sale of all its property, plant and equipment and inventory for an aggregate consideration of Rs. 534 lakhs. CAAG has also entered into a reconciliation of interest and social plan with all the employees in accordance with applicable German labour law requirements. The financial impact arising from these actions has been disclosed in the notes to the financial statements for the period ended 30 th September 2026 (enclosed). With the completion of the above steps, CAAG is now proceeding with the final liquidation/de-registration in accordance with the applicable per German laws.
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Please note that the meeting of the Board of Directors of the Company commenced at 02.00 p.m. and concluded at 04:45 p.m. Kindly take the above information on record. Thanking you. Yours faithfully, For Carborundum Universal Limited Rekha Surendhiran Company Secretary Encl.: a/a
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Q e murugappa CARBORUNDUM UNIVERSAL LIMITED CIN : L29224TN1954PLC000318 Registered office: 'DARE HOUSE', No.234, N.S.C Bose Road, Parrys, Chennai- 600 001 STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30,2026 (Rs.in Lakhs) Quarter ended Six months ended Year ended S.No. Particulars 30.09.2026 30.06.2026 30.09.2025 30.09.2026 30.09.2025 31.03.2026 Unaudited Unaudited Audited 1 Income a) Sales I Income from operations 91136 84613 71220 175749 141048 302437 b) Other operating income 944 888 799 1832 1650 3817 Revenue from operations 92080 85501 72019 177581 142698 306254 Other income - Refer Note :2 242 1507 807 1749 9666 13850 Total income 92322 87008 72826 179330 152364 320104 2 Expenses a) Cost of materials consumed 38744 36947 29332 75691 60032 126281 b) Purchases of stock-in-trade 4149 3712 1767 7861 3325 11469 c) Changes in inventories of finished goods, stock-in-trade and work-in -progress (597) (2082) (132) (2679) (877) (3325) d) Employee benefits expense 9028 8321 8117 17349 16004 31750 e) Finance costs 206 48 - 254 16 f) Depreciation and amortisation expense 2693 2592 2367 5285 4668 9461 g) Power and fuel 7774 7570 6692 15344 13149 26949 h) Other expenses 20457 18445 15967 38902 30702 65021 Total expenses 82454 75553 64110 158007 127003 267622 3 Profit before tax (1)-(2) 9868 11455 8716 21323 25361 52482 4 Tax expense Current tax 2458 2674 2373 5132 4553 10980 Deferred tax 181 (3) (91) 178 (123) (126) Total tax expense 2639 2671 2282 5310 4430 10854 5 Net profit for the period (3)-(4) 7229 8784 6434 16013 20931 41628 6 Other comprehensive income [OCI] Items that will not be reclassified to profit or loss Remeasurements of defined benefit plans (131) (236) (131) (149) (578) Income tax relating to items that will not be reclassified to profit or loss 33 33 - 35 Other comprehensive income- Total (98) - (236) (98) (149) (543) 7 Total comprehensive income (5) + (6) 7131 8784 6198 15915 20782 41085 8 Paid up Equity share capital (Face value- Re.1 per share) 1905 1905 1904 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 3.79 4.61 3.38 8.41 10.99 21.86 -Diluted 3.79 4.61 3.38 8.39 10.98 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 AND SIX MONTHS ENDED SEPTEMBER 30, 2026 STANDALONE UNAUDITED SEGMENTWISE REVENUE, RESULTS, ASSETS AND LIABILITIES (Rs.in Lakhs) Quarter ended Six months ended Year ended S.No. Particulars 30.09.2026 30.06.2026 30.09.2025 30.09.2026 30.09.2025 31.03.2026 Unaudited Unaud ited Audited 1 Segment revenue Abrasives 35677 32848 30775 68525 59410 126957 Ceramics 31279 27431 22801 58710 46620 100014 Electrominerals 27919 28226 21269 56145 42498 90596 Total 94875 88505 74845 183380 148528 317567 Less: Inter - segmen t revenue 3739 3892 3625 7631 7480 15130 Sales I Income from operations 91136 84613 71220 175749 141048 302437 2 Segment results (Profit(+) I Loss (-) before finance cost s and ta x) Abrasives 3737 3432 4665 7169 8412 19453 Ceramics 6714 5868 4531 12582 10695 21446 Electrominera ls 2929 3869 1964 6798 2666 8213 Total 13380 13169 11160 26549 21773 49112 Less: (i) Finance costs 206 48 254 16 (ii) Other unallocable expenses I (i ncome)- net 3306 1666 2444 4972 (3588) (3386) Profit before tax 9868 11455 8716 21323 25361 52482 Less : Tax expense 2639 2671 2282 5310 4430 10854 Net profit for the per iod 7229 8784 6434 16013 20931 41628 3a Segmental assets Abrasives 79299 74722 68717 79299 68717 70282 Ceramics 84525 76110 65712 84525 65712 72440 Electrom inerals 64466 61025 48240 64466 48240 49598 Unallocab le 136085 133093 124553 136085 124553 134945 364375 344950 307222 364375 307222 327265 3b Segmental liabilities Abrasives 12577 11296 9300 12577 9300 10472 Ceramics 13600 11273 9345 13600 9345 10764 Electrom inerals 9185 12253 9383 9185 9383 8712 Unallocable 25977 9921 6697 25977 6697 6353 61339 44743 34725 61339 34725 36301
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t)) murugappo CARBORUNDUM UNIVERSAL LIMITED CIN : L29224TN1954PLC000318 Registered office : ' DARE HOUSE' , No.234, N.S.C Bose Road, Parrys, Chennai- 600 001 STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2026 Standalone Balance Sheet Particulars ASSETS Non-Current assets (a) Property, plant and equipment (b) Right of use assets (c) Capital work- in-progress (d) Intangib le assets (e) Financial assets (i) Investments (a) Investme nt in associate (b) Investment s in joint ventures (c) Investments in subsidiar ies (d) Other investme nts (ii) Other financial assets (f) Deferred tax asset (net) (g) Othe r non-curr ent assets Total Non-Curren t assets Current assets (a) Invento ries (b) Financial assets (i) Trade receivables (ii) Cash and cash equivalents (iii) Bank balances other th an (ii) above (iv) Othe r Financial assets (c) Othe r Current assets Total Current assets Total Assets EQUITY AND LIABILITIES Equity (a) Equity share capital (b) Other equity Total equity liabili t ies Non-Current liabilit ies (a) Provisio ns Total Non-Current liabilit ies Current liabilities (a) Financialli abili ties (i) Borrow ings (ii) Trade payables (a) total outstanding dues of micro enterprises and small enterprises (b) t otal outstanding dues of creditors other tha n micro ente rpri ses and small enterpr ises (iii) Other fina ncial liabiliti es (b) Other curre nt liabilities (c) Provisions Total Current liabilities Total liabilities Total Equity and liabilities As at 30.09.2026 Unaudited 68954 698 14723 464 97 457 126864 233 3640 12 4819 220961 59277 67022 2942 249 1328 12596 143414 364375 1905 301131 303036 2327 2327 18500 1446 28191 5303 2901 2671 59012 61339 364375 (Rs in Lakhs) As at 31.03.2026 Audited 70136 702 10844 481 97 457 109152 223 2825 157 2895 197969 46691 54478 20287 231 1055 6554 129296 32726S 1905 289059 290964 2341 2341 1769 20387 6724 2598 2482 33960 36301 327265
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A B c D ~ murugoppa Standalone Cash Flow Statement CARBORUNDUM UNIVERSAL LIMITED CIN : L29224TN1954PLC000318 Registered office : 'DARE HOUSE'. No.234, N.S.C Bose Road, Parrys, Chennai- 600 001 STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30,2026 Six month s ended Particulars 30.09.2026 I 30.09.2025 Unaudited Cash flow from Operating activities Profit before tax 21323 25361 Adjustment for: Depreciation and amortisation expense 5285 4668 (Profit) I loss on Fair valuation of investments (10) (2) Finance costs 254 Interest income (115) (301) Dividend income (1614) (8738) Expenses recognised in respect of equity-settled share -based payments 830 600 Allowance for doubtfu l receivable and advances (net) 160 179 Loss on sale of assets (net) 63 60 Unrealised exchange (gain)/loss- net 629 5482 (104) (3638) Operatin g profit before worki ng capital changes 26805 21723 Movement in working capital (lncrease)/decrease in trade receivables (13238) (6444) (lncrease)/decrease in inventories (12586) (1148) (lncrease)/decrease in other fina ncial assets (1092) (801) (lncrease)/decrease in other assets (6030) (2327) Increase/( decrease) in trade payables 7386 4301 Increase/( decrease) in provisions and other current liabilities 344 (72) Increase/( decrease) in othe r financia l liabilities (1002) (26218) (709) (7200) Cash generate d from Operations 587 14523 Income tax paid (net) (4917) (5817) Net cash (used in) I generated by Operating activ ities - (A] (4330) 8706 Cash flow from Investing activities Payments to acquire property, plant and equipment (10536) (12007) Payments for intang ible assets (94) (159) Proceeds fro m sale of property , plant and equipme nt 37 37 Investment in Subsidiaries (17712) Investment in Bank deposits with original matur ity beyond three months {net) (226) Interest income received 104 271 Dividend income received 1614 8738 Net cash (used in) Investing activities - (B] (26587) (3346) Cash flow from Financing activities Proceeds from issue of equity shares 89 so Proceed/{ Repayment) of short-ter m borrow ings- net 18500 Finance costs paid (254) Dividends paid to Shareholders (4763) (4761) Net cash (used in)/ generated by Financing activities- [C] 13572 (4711) Net (decrease)/ increase in cash and cash equivalents [A]+[B]+[C] (1734S) 649 Add: Cash and Cash equivalents at the beginning of the period 20287 8580 Cash and Cash equivalents at the end of the period 2942 9229 0 (Rs in Lakhs) Year ended 31.03 .2026 Audited 52482 9461 27 16 (576) (11849) 1445 524 69 (293) (1176) 51306 (9092) (2477) (454) (2180) 2712 1367 218 (9906) 41400 (11248) 30152 (22924) (404) 161 (237) 519 11849 (11036) 225 (16) (7618) (7409) 11707 8580 20287
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~ murugappo Notes : CARBORUNDUM UNIVERSAL LIMITED CIN : L29224TN1954PLC000318 Registered office : ' DARE HOUSE', No.234, N.S.C Base Road, Parrys, Chennai - 600 001 STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2026 1 T he above results were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their respective meetings held on November 02, 2026 and were subjected to a limited review by the Statutory Auditors of the Company. 2 Other income for the six months ended September 30, 2025 includes dividend i ncome of Rs. 6,765 lakhs, received from Southern Energy Development Corporatio n Limited, a subsidi ary of the Company. The aggregate dividend income received from the subsidiary during th e year ended March 31, 2026 was Rs. 7,584 lakhs. 3 D uring the current quarter, the Company has allotted 11882 equity shares pursuant to exercise of Employee Stock Options. 4 T he s tandalone and consolidated financial r esults are available on th e website of the Company : www.cumi -mur ugappa.com and Stock exchanges : www.bse india.com & www. nseindia.com. Chennai November 02, 2026 For Carborundum Universal limited M.M .Murugappan Chairman
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~ - murugoppo CARBORUNDUM UNIVERSAL LIMITED CIN: L29224TN1954PLC000318 Registered office: 'DARE HOUSE', No.234, N.S.C Bose Road, Parrys, Chennai- 600 001 CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2026 (Rs. in Lakhs) Quarter ended Six months ended Year ended S.No. Particulars 30.09.2026 1 30.06.2026 1 30.09.2025 30.09.2026130.09.2025 31.03.2026 Unaudited Unaudited Audited 1 Income a) Sales I Income from operations 145466 141057 128672 286523 249337 514939 b) Other operating income 1439 1606 1136 3045 2373 5692 Revenue from operations 146905 142663 129808 289568 2S1710 520631 Other income - Refer Note : 3 1838 4470 1689 6308 3562 7165 Total income 148743 147133 131497 295876 255272 527796 2 Expenses a) Cost of materials consumed 52552 49432 46120 101984 92280 191176 b) Purchase of stock-in-trade 5965 5883 4121 11848 8386 21853 c) Changes in inventories of finished goods, stock-in-trade and work-in-progress (457) 2291 158 1834 (5254) (9320) d) Employee benefits expense 24196 26804 24136 51000 47934 95316 e) Finance costs 657 580 443 1237 792 1876 f) Depreciation and amortisat ion expense 6433 6551 6223 12984 12112 24679 g) Power and fuel 13566 14327 12684 27893 24911 51440 h) Other expenses 32669 30416 26948 63085 55687 112273 Total expenses 135581 136284 120833 271865 236848 489293 3 Profit before share of profit of equity accounted investees, exceptional items and income tax [1]-[2] 13162 10849 10664 24011 18424 38503 4(a) Share of profit of associate (net of tax) 206 232 101 438 243 546 4(b) Share of profit of joint ventures (net of tax) 460 840 486 1300 1167 2577 5 Profit before exceptional items and tax (3)+(4(a))+(4(b)) 13828 11921 11251 25749 19834 41626 6 Exceptional items- Refer Note : 2 (8026) - (8026) (13457) 7 Profit before tax (5)+(6) 5802 11921 11251 17723 19834 28169 8 Tax expense Current tax 4556 4366 4309 8922 7827 15326 Deferred tax 42 (479) (484) (437) (1458) (3937) Total tax expense 4598 3887 3825 8485 6369 11389 9 Net Profit for the period (7)-(8) 1204 8034 7426 9238 13465 16780 Net Profit I (Loss) for the period attributable to : 9(a) - Owners of the Company 1245 7640 7451 8885 13640 19473 9(b) -Non-controlling interest (41) 394 (25) 353 (175) (2693) 10 Add : Other comprehensive income A.ltems that will not be reclassified to profit or loss (a) Remeasurement of the defined benefit plan (131) - (236) (131) (149) (507) (b) Equity instruments through other comprehensive income - 1079 - 1079 1080 (c) Share of OCI in Associate and Joint Ventures, to the extent not to be reclassified to profit or 24 (7) (5) 17 (10) (9) loss (net oftax) Income tax relating to items that will not be reclassified to profit or loss 33 - (215) 33 (215) (198) Total (74) (7) 623 (81) 705 366 B. Items that may be reclassified to profit or loss (a) Exchange differences in translating the financial statements of foreign operations (2618) 2150 2263 (468) 11933 24714 (b) Net gainl(loss) on Cash flow hedge - - 3 12 12 (c) Share of OCI in Associate and Joint Ventures , to the extent that may be reclassified to profit 14 (9) 44 5 94 161 or loss (net of tax) Income tax relating to items that may be reclassified to profit or loss - - (1) (3) (3) Total (2604) 2141 2309 (463) 12036 24884 Other comprehensive income- (A)+( B) (2678) 2134 2932 (544) 12741 25250 Other comprehensive income for the period attributable to : 10(a) -Owners of the Company (2670) 2116 2601 (554) 12108 23934 10(b) -Non-controlling interest (8) 18 331 10 633 1316 11 Total comprehensive income (9)+(10) (1474) 10168 10358 8694 26206 42030 Total comprehensive income for the period attributable to : 11(a) - Owners of the Company (1425) 9756 10052 8331 25748 43407 11(b) - Non-controlling interest (49) 412 306 363 458 (1377) 12 Paid up equity share capital (Face value- Re.1 per share) 1905 1905 1904 1905 1904 1905 13 Reserves excluding revaluation surplus 387840 14 Earnings per share (Rs.) on S.no.9(a) Net Profit for the period attributable to Owners of the Company (not annualised) - Basic 0.66 4.04 3.94 4.70 7.22 10.30 -Diluted 0.66 4.04 3.94 4.69 7.21 10.30
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~ murugappa CARBORUNDUM UNIVERSAL LIMITED CIN : L29224TN19S4PLC000318 Registered office: 'DARE HOUSE', Na.234, N.S.C Bose Road, Parrys, Chennai- 600 001 CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2026 CONSOLIDATED UNAUDITED SEGMENTWISE REVENUE, RESULTS, ASSETS AND LIABILITIES Quarter ended Six months ended • (Rs. in Lakhs) Year ended S.Na. Particulars 30.09.2026 30.06.2026 30.09.2025 30.09.2026 30.09.2025 31.03.2026 1 Segment revenue Abrasives Ceramics Electrominerals Others Total Less: Inter -segment revenue Sales I Income from operations 2 Segment results (Profit(+) I Loss(-) before Finance costs, exceptional items and tax) Abrasives - Refer Note : 3 Ceramics Electromin erals Others Total Less: (i) Finance costs (ii) Other unallocab le expenses (net) Profit before share of profit of equity accounted investees, except ional items and tax Add : Share of profit from Associate and Joint Ventures (net of tax) Profit before exceptional items and tax Add : Exceptional items- Refer Note : 2 Profit before tax Less : Tax expense Less : Attributable to Non-controlling intere sts Profit after tax, share of profit from Associate, Joint Ventures and non-controlling interests 3a Segmental assets Abrasives Ceramics Electrominerals Others (including unallocable) Total segmental assets 60724 41027 44302 5078 151131 5665 145466 4001 10130 2588 (409) 16310 657 2491 13162 666 13828 (8026) 5802 4598 (41) 1245 197887 125024 151560 69371 543842 Unaudited 60978 34895 47282 3553 146708 5651 141057 3961 7447 2197 (276) 13329 580 1900 10849 1072 11921 11921 3887 394 7640 201037 116005 151149 68484 536675 58372 30147 39861 4992 133372 4700 128672 3312 6248 3270 84 12914 443 1807 10664 587 11251 11251 3825 (25) 7451 198264 101393 131647 71650 502954 Unaudited 121702 75922 91584 8631 297839 11316 286523 7962 17577 4785 (685) 29639 1237 4391 24011 1738 25749 (8026) 17723 8485 353 8885 197887 125024 151560 69371 543842 109127 60109 80354 9303 258893 9556 249337 4452 13737 3713 (118) 21784 792 2568 18424 1410 19834 19834 6369 (175) 13640 198264 101393 131647 71650 502954 Audited 227056 126804 163177 17509 534546 19607 514939 9655 25619 9091 (183) 44182 1876 3803 38503 3123 41626 (13457) 28169 11389 (2693) 19473 193708 113868 138168 83311 529055 34569 36169 27252 34569 27252 35217 22142 21004 17721 22142 17721 20509 23640 27224 23998 23640 23998 23587 ~~>.'i>e Chartered Ace 59038 42014 46541 59038 46541 48912 ~~~" ~~~ ~ l--1_3_9_38_9-+-__ 1_2_64_1_1+-__ 11_5_5_12-+ __ 1_3_9_38_9-+-__ 11_5_5_12-+ __ 1_2_82_2_5~
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~ murugoppo CARBORUNDUM UNIVERSAL LIMITED CIN No: l29224TN1954PLC000318 Registered offi ce: 'DARE HOUSE', No.234, N.S.C Bose Road, Parrys, Chennai- 600 001 CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2026 Consolidated Balance Sheet (Rs.in lakhs) As at As at Particulars 30.09.2026 31.03.2026 Unaudited Audited ASSETS Non-current assets (a) Property, plant and equipment 118929 128197 (b) Right-of-use assets 11110 10725 (c) Capital work-in-progress 18215 14097 (d) Goodwill 29994 29749 (e) Other intangible assets 20274 21938 (f) Investmen t accounted for using the equity method (i) Investments in associate 9907 9520 (ii) Investments in joint ventures 11192 10135 (g) Financial assets (i) Investments 236 226 (ii) Other financial assets 3816 3010 (h) Deferred tax assets (net) 13408 13048 (i) Other non-current assets 6086 4342 Total non-curren t assets 243167 244987 Current assets (a) Inventories 118251 111715 (b) Financial assets (i) Investments 1208 (ii) Trade receivables 97405 89078 (iii) Cash and Cash equivalents 61130 69788 (iv) Bank balances other than (iii) above 275 256 (v) Other Financial assets 1919 1814 (c) Other Current assets 18828 11417 (d) Assets held for sale 1659 - Total current assets 300675 284068 Total assets 543842 529055 EQUITY AND LIABILITIES Equity (a) Equity share capital 1905 1905 (b) Other equity 392560 388077 Equity attribu t able to owners of the Company 394465 389982 Non-controlling interests 9988 10848 Total equity 404453 400830 Non-cur rent liabilities (a) Financial liabilities (i) Borrowings 2223 2578 (ii) lease liabilities 9233 9010 (iii) Other fianancial liabilities 4275 (b) Provisions 3572 3551 (c) Deferred tax liabilities (net) 1844 1943 (d) Other non-current liabilites 656 402 Total non-current liabilities 17528 21759 Current liabili ties (a) Financial liabilities (i) Borrowings 33931 27919 (ii) lease liabilities 1822 1747 (iii) Trade payables (a) tota l outstanding dues of micro enterpr ises and small enterprises 2304 2231 (b) total outstanding dues of creditors other than micro enterprises and small enterprises 48183 39973 (iv) Other financial liabilities 12842 10063 (b) Other current liabilit ies 10162 7710 (c) Provisions 11091 16213 (d) Current tax liabilities (net) 1526 610 Total current liabilities 121861 106466 Total liabili t ies 139389 128225 Total equity and liabilities 543842 529055
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~ murugappa CARBORUNDUM UNIVERSAL LIMITED CIN No: L29224TN1954PLC000318 Registered office: 'DARE HOUSE', Na.234, N.S.C Base Road, Parrys, Chennai- 600 001 • CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2026 Consolidated Cash Flow Statement (Rs in Lakhs) Six months ended Year ended Particulars 30.09.2026 I 30.09.2025 31.03.2026 Unaudited Audited Cash flaw from Operating activities Profit before tax 17723 19834 28169 Adjustment for: Share of profit of associate (438) {243) (546) Share of profit of Joint ventures {1300) (1167) (2577) Exceptional items- Refer Note : 2 8026 - 13457 (Profit) /Loss on Fair value of Investments (10) (2) 27 Depreciation and amortisation 12984 12112 24679 Finance costs 1237 792 1876 Interest income (2745) (2443) (4902) Dividend income (44) (36) (59) Expenses recognised in respect of equity-settled share-based payments 830 600 1445 Impairment loss on financial assets (net) 29 111 193 Allowance for doubtful receivable and advances (net) 946 818 1103 (Profit) I Loss on sale of assets (net) (2933) 48 244 Unrealised exchange (gain) I loss (net) 516 17098 (531) 10059 (1174) 33766 Operating profit before working capital changes 34821 29893 61935 Movement in working capital {lncrease)/decrease in trade receivable s (7951) (7112) {9573) (lncre ase)/decrease in Inventories (8913) (4854) (731) (lncre ase)/decrease in Other financial asset {1126) (895) (275) {lncrease)/decrease in Other assets (7954) (3334) (2921) Increase/( decrease) in Trade payables 7505 6384 3480 Increase/( decrease) in Provision & other current liabilities (5227) 747 1331 Increase/( decrease) in Other financ ial liabilit ies (886) (24552) 24 (9040) 618 (8071) Cash generated from Operations 10269 20853 53864 Income tax paid (net) (7669) (9751) (17129) Net cash generated by operating activities [A] 2600 11102 36735 Cash flow from investing activities Payments to acquire Property, plant and equipment (12853) (15982) {30029) Payments for Intangible asset (248) (508) (1007) Proceeds from sale of Immovable right and Property , plant and equipment 3151 53 292 Proceeds from sale of non-current Investment s, net of tax - - 1500 Purchase of Investments (1208) - - {Investment) in/ Redemption of Bank deposits with original - (225) {237) maturity beyond three months (net) Interest income received 2731 2412 4841 Dividend income from Associate 75 150 300 Dividend income from Joint venture s 240 646 2580 Dividend income received - Other s 44 36 59 Net cash used in investing activities [B] (8068) (13418) (21701) Cash flow from financing activities Proceeds from issue of equity shares 89 50 225 Repayment of Long term borrowings {1256) {175) {511) Proceeds from Short term borrowings (net) 6673 7807 16023 Principal portion of lease payments {1457) (575) (1210) Finance costs paid {1134) (730) (1393) Dividend paid to Shareholders (4763) (4761) (7618) Dividend paid to Non-controlling interest (1182) (2241) (2498) Proceeds from sale of treasury shares - 9623 9623 Income tax relating to sale of treasury shares - (725) (725) Net cash (used in) I generated from financing activities [C] {3030) 8273 11916 Net increase/ (decrease) in Cash and Cash equivalents [A]+[B]+[C] (8498) 5957 26950 Add : Cash and Cash equivalents at the beginning of the period 69788 37793 37793 Effect of exchange rate changes on the balances of cash and cash {160) 1757 5045 equivalents held in foreign currencies Cash and Cash equivalents at the end of the period* 61130 45507 69788 -- 1-o. Non Cash Financing and Operating activities ~ Cbarteredi\ ~- , u~ - Acquisition of right-of-use asset A A I" -:::-.. !'Z't.: 41 630 •;od"d" 10.h ood '"' ""'"''"" •mooo<log <o ''· 36,011 ~H ~ 2 d>~rkh•, ~29 , 71ll•kh•l ool '""'bl• "" use by other entities within the Group . Refer Note: 2A [3! ~ ~ ~ 600001 ~ ,;).;) ~ ,...... <>_, " -V<t 11No12754 ~ ~ooo'~> ~A. *'0'>:: * Chenna\ *
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~ murugappo Notes: CARBORUNDUM UNIVERSAL LIMITED CIN No: L29224TN1954PLC000318 Registered office: 'DARE HOUSE', No.234, N.S.C Base Road, Parrys, Chennai- 600 001 CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2026 The above results were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on November 02, 2026 and were subjected to a limited review by the Statutory Audito rs of the Company. 2 Exceptional items represent the following: (Rs. In Lakhs) Parti culars Quarte r ended Six months ended Year ended 30.09.2026 30.06.2026 30.09.2025 30.09.2026 30.09.2025 31.03.2026 Unaud ited Unaudit ed Audited Write-down of various assets and recognition of restructuring costs in relation to decision to wind (8026) - (8026) (11856) down the operations of CUM I 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 - (1601) Company (Refer Note 2C below) Total (8026) - (8026) (13457) 2A The geo-political situation cont inues to present an uncertain environment for the operations of the step-down subsidiary, Volzhsky Abrasive Works (VAW), Russia, held through CUMI Internationa l Ltd including those arising from internationa l 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 manufacturing sector which includes VAW were added to the US Department of Treasury's Office of Foreign Assets Control (OFAC)'s Specially Designated Nationals and Blocked Persons List (SDN 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 contro l of US persons are blocked. Further, most financia l transactions involvi ng US currency and transactions involving 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 detai led assessment of the liquidity position of VAW including its ability to continue as a going concern, control over the entity and had also comprehensively assessed the recoverability and carrying values of its assets comprising of property, plant and equipment , intangible assets, trade receivables, inventory and other assets as at the respective balance sheet date including the related goodwill at CUM I Internationa l Ltd's consolidated level. Basis the above assessment, an impairment expense (representing certain balances held in foreign currency with a cleari ng agency by VAW and export receivables of VAW outside the Group) amounting to Rs.l0,413 lakhs 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. 36,0111akhs are not available for use by other entities within the Group due to temporary repatriat ion restrictio ns. 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 externa l environment. 2B On March 30, 2026, the Board of Directors of CUMI Internationa l Limited, Cyprus (CIL). the holding company of CUMI AWUKO Abrasives GmbH (CAAG), a st ep-down subsidiary of Carborundum Universal Limited (CUM I) in Germany, approved the initiation of the closure of CAAG through a voluntary winding-up process in accordance with the applicable laws in Germany. This decision was taken in view of the continued underperformance of CAAG, characterised by mounting losses and its inabil ity to achieve a turnaround given the prevailing market conditions. CAAG is not a material subsidiary of the Group, and accordingly, its winding down is not expected to have an adverse impact on the Group's overall business operations. Pursuant to this decision, the financial information of CAAG was prepared on a realisab le value (non-going concern) basis and accounted Rs. 11,856 lakhs under the heading exceptional items in the consolidated financial results during the year ended March 31, 2026, representing write-down of various assets and recognition of restructuring costs. As part of the closure process, CAAG entered into agreements in Octobe r 2026 for the sale of all its property, plant and equipme nt and inventory for an aggregate consideration of Rs. 534 lakhs and consequently these assets have been presented as assets held for sale as of September 30, 2026. CAAG has also entered into a reconciliation of interest and social plan with all the employees in accordance with applicable German labour law requirements. The financial impact arising from these actions has been recognised as an expense of Rs.8026 lakhs under the heading exceptional items in the consolidated financial results, represent ing write-down of various assets and recognition of restructuring costs. With the comp letion of the above steps, CAAG is now proceeding with the final liquidation/de-registration in accordance with the applicable German laws. 2C On May 13, 2026, the Board of Directors of Foskor Zirconia (Pty) Ltd, South Africa (FZL). a step-dow n 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 alternative. This assessment was based on the continued underperfo rmance of FZL, evidenced by sustained losses and the absence of a viable turnaround in light of prevailing market conditions . Consequent to this decision, the financial information of FZL has been prepared on a realisable value (non-goi ng concern) basis. In this context, the Group perfo rmed a detai led assessment of the carrying 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 Includes Rs. 2518 lakhs towards gain on sale of transfer of immovable property rights for the quarter ended June 30, 2026 from Sterling Abrasives Limited, a subsidiary of the Company.
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~ murugappa CARBORUNDUM UNIVERSAL LIMITED CIN Na: L29224TN1954PLC000318 Registered office : 'DARE HOUSE', Na.234, N.S.C Bose Road, Parrys, Chennai - 600 001 CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30,2026 4 Summary of key standalone financial results of Carborundum Universal limited is as follows· (Rs in Lakhs) Quarter ended Six months ended Year ended Particulars 30.09.2026 30.06.2026 30.09.2025 3o.o9.2026 I 30.09.2025 31.03.2026 Unaudited Unaudited Audited Revenue from operat ions 92080 85501 72019 177581 142698 306254 Profit before tax 9868 11455 8716 21323 25361 52482 Net profit after tax 7229 8784 6434 16013 20931 41628 Total comprehensi ve income 7131 8784 6198 15915 20782 41085 During the current quarter , the Company has allotted 11,882 equity shares pursuant to exercise of Employee Stock Options. 6 The standalone and consolidated financial results are available on the website of the Company : www .cumi-murugappa.com and Stock exchanges: www.bseindia.com & www .nseindia.com. For Carborundum Universal limited Chennai November 02, 2026 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 September 30, 2026 and the year to date results for the period April1, 2026 to September 30, 2026, and the Standalone Balance Sheet as on that date and the Standalone Cash Flow Statement for the half-year ended on that date which are included in the accompanying 'Standalone Unaudited Financial Results for the quarter and six months ended September 30, 2026' (the "Statement") . The Statement has been prepared by the Company pursuant to 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 purposes. 2. This Statement, which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with 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 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 misstatement. 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 accordance 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 . For Price Waterhouse Chartered Accountants LLP Firm Registration }:fumber: 012754N/N500016 ~~ - " ~~ Baskar Pannerselvam Partner Membership Number: 213126 UDIN: :lk'l.-1 312-.bRAHFDU9001 Place: Chennai Date: November 2, 2026 Price Waterhouse Chartered Accountants LLP, 7th & 10th Floor, Menon Eternity, No. 165, StMary's Road, Alwarpet Chennai - 6oo 018 T: + 91 (44) 42285278 Registered office and Head Office: u-A, Vishnu Digambar Marg, Sucheta Bhawan, Gate No 2, New Delhi - 110002 Price Waterhouse (a Partnership Firm) Converted into Price Waterhouse Chartered Accountants LLP (a Limited Liability Partnership with LLP identity no: LLPINAAC-5001) with effect from July 25, 2014. Post its conversion to Price Waterhouse Chartered Accountants LLP, its !CAl registration number is 012754N/Nsooo16 (I CAl registration number before conversion was 012754N)
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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 subsidiaries (the Holding Company and its subsidiaries hereinafter referred to as the "Group"), and its share of the net profit after tax and total comprehensive 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 September 30, 2026 and the year to date results for the period April1, 2026 to September 30, 2026 and the Consolidated Balance Sheet as on that date and the Consolidated Cash Flow Statement for the half-year ended on that date which are included in the accompanying 'Consolidated Unaudited Financial Results for the quarter and six months ended September 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 purposes. 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, 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 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 misstatement. 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 . 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 applicable. Price Waterhouse Chartered Accountants LLP, 7th & 10th Floor, Menon Eternity, No. 165, StMary 's Road, Alwarpet Chennai- 6oo 018 T: + 91 (44) 42285278 Registered office and Head Office: n-A, Vislmu Digambar !vlarg, Suche ta Bhawan, Gate No 2, New Delhi - 110 0 0 2 Price Waterhouse (a Part nership Firm) Converted into Price Waterhouse Chartered Accountants LLP (a Limited L iability Partnership with LLP identi ty no: LLPINAAC-5001) with effect from July 25, 2014. Post its conversion to Price Waterhouse Chartered Accountants LLP, its !CAl registrat ion numb er is Ol2754N/Ns ooor 6 (I CAl regis tration number before conversion was 012754N)
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Price Waterhouse Chartered Accountants LLP 4. The Statement includes the results ofthe following entities: Holding Company: i. Carborundum Universal Limited Subsidiaries: ii. CUMI Abrasives and Ceramics Co., Limited 111. CUMI America, Inc. 1v. CUMI (Australia) Pty Limited v. CUMI AWUKO Abrasives GmbH VI. CUMI International Ltd VII. CUMI Middle East FZE viii. CUMI USA, Inc. and its wholly owned subsidiary a) Silicon Carbide Products LLC ix. Foskor Zirconia (Pty) Ltd x. Net Access India Limited x1. PLUSS Advanced Technologies Limited and its wholly owned subsidiary a) Pluss Advanced Technologies B.V. xii. RHODIUS Abrasives GmbH and its wholly owned subsidiaries a) Rhodius Nederland B.V. b) Rhodius France S.A.R.L. c) Rhodius Korea Inc. d) Rhodius South America Assessoria Tecnica e Comercial em Abrasivos Ltda. xm. Sterling Abrasives Limited xiv. Southern Energy Development Corporation Limited xv. Volzhsky Abrasive Works Joint Ventures: xvi. Ciria India Limited XVII. Murugappa Morgan Thermal Ceramics Limited Associate: xviii. Wendt (India) Limited and its wholly owned subsidiaries a) Wendt Grinding Technologies Limited b) Wendt GmbH 5· Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement has not been prepared in all material respects in accordance 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.
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Price Waterhouse Chartered Accountants LLP 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 VAW'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 (representing certain balances held in foreign currency with a clearing agency by VA Wand export receivables of VAW outside the Group) of Rs. 10,413 lakhs 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 . ii. Notes 2B and 2C of the Statement , which describe that the financial information of two step-down subsidiaries, CUMI A WUKO 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. 8,026 lakhs for the quarter and six-month period ended September 30, 2026, and Rs. 13,457lakhs for the year ended March 31, 2026, under "Exceptional items" in the Statement, 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 information / financial results of seven subsidiaries reflect total assets of Rs. 134,482 lakhs and net assets of Rs. 76,675 lakhs as at September 30, 2026 and total revenues of Rs. 28,036 lakhs and Rs. 60,058 lakhs, total net loss after tax of Rs. 9,408 lakhs and Rs. 11,268lakhs and total comprehensive income of Rs. (8,168) lakhs and Rs. (4,209) lakhs for the quarter ended September 30, 2026 and for the period from April1 , 2026 to September 30, 2026, respectively , and cash flows (net) of Rs. 3,964lakhs for the period from April1, 2026 to September 30, 2026, as considered in the consolidated unaudited financial results. The consolidated unaudited financial results also include the Group 's share of net profit after tax of Rs. 460 lakhs and Rs. 1,300 lakhs and total comprehensive income of Rs. 458 lakhs and Rs. 1,298 lakhs for the quarter ended September 30, 2026 and for the period from April1, 2026 to September 30, 2026, respectively, in respect of two joint ventures . These interim financial information/ financial results have been reviewed by othe r auditors and their reports, vide which they have issued an unmodified conclusion, have been furnished to us by the 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 ofthe other auditors and the procedures performed by us as stated in paragraph 3 above.
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Price Waterhouse Chartered Accountants LLP The interim financial information/ financial statements of six subsidiaries incorporated outside India reflect total assets of Rs. 272,281lakhs and net assets of Rs. 241,198lakhs as at September 30, 2026 and revenue from operations of Rs. 31,397 lakhs and Rs. 62,556 lakhs, total net loss after tax of Rs. 107 lakhs and Rs. 13,969 lakhs, and total comprehensive income of Rs. (107) lakhs and Rs. (13,969) lakhs for the quarter ended September 30, 2026 and for the period from April 1, 2026 to September 30, 2026, respectively, and cash flows (net) of Rs. 5,210 lakhs for the period from April 1, 2026 to September 30, 2026, as considered in the Statement. The interim financial information/ financial statements 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 auditors of the said subsidiaries under generally accepted review standards applicable in their respective countries, and upon which the subsidiaries' auditors vide their review report have issued an unmodified conclusion. The Holding Company's Management has converted the interim 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 ofthe 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 matters. 8. The consolidated unaudited financial results include the interim financial information of a subsidiary which has not been reviewed/ audited by their auditor, whose interim financial information reflect total assets of Rs. 7lakhs and net assets of Rs. (844) lakhs as at September 30, 2026 and total revenue of Rs. Nil and Rs. Nil, total net loss after tax of Rs. 19lakhs and Rs. 43 lakhs and total comprehensive income of Rs. (19) lakhs and Rs. (43) lakhs for the quarter ended September 30, 2026 and for the period from April 1, 2026 to September 30, 2026, respectively, and cash flows (net) of Rs. 3 lakhs for the period from April1, 2026 to September 30, 2026, as considered in the consolidated unaudited financial results . According to the information and explanations given to us by the 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. For Price Waterhouse Chartered Accountants LLP Firm Registration Number: 012754N/N500016 -~ ' ~~v· Baskar Pannerselvam Partner Membership Number: 213126 UDIN: 2..b~l3 \ 2.~ URR-VPF 3 '\bl- Place: Chennai Date: November 2, 2026
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Carborundum Universal’s Q2 FY 2026-27 Consolidated Sales at Rs.1455 Crores Profit before exceptional items and tax at Rs. 138 Cr Standalone Sales at Rs.911 Crores Profit before tax at Rs.99 Crores Chennai, 02nd November 2026 : The Board of Directors met today and approved the results for the quarter and six months ended September 30, 2026. Financial performance In Q2FY27, Standalone sales of Rs. 911 Cr grew by 28.0% compared to sales of Rs. 712 Cr in Q2FY26. All three segments recorded double -digit growth. Standalone Ceramics grew by 37.2%, Electrominerals by 31.3% and Abrasives by 15.9% compared to Q2FY26. In Q2FY27, Consolidated sales of Rs. 1,45 5 Cr grew by 13. 1% compared to Sales of Rs . 1,287 Cr in Q2F Y26. Consolidated Ceramics sales grew by 36.1% , while Consolidated Electrominerals sales grew by 11.1% over the same period. Consolidated Abrasives grew by 4.0%. Standalone Sales for the first half of FY27 was Rs. 1,75 7 Cr, a growth of 24.6% compared to Rs. 1,410 Cr in the same period last year. Standalone Electrominerals, Ceramics and Abrasives grew by 32.1%, 25.9% and 15.3% respectively over the same period. Consolidated Sales for the first half of FY27 was Rs. 2,86 5 Cr, which is a growth of 14.9% compared to same period of last year. Consolidated Ceramics, Electrominerals and Abrasives grew by 26.3%, 14.0%, and 11.5% respectively. In Q2FY27, Consolidated Profit before exceptional items and tax was Rs. 138 Cr compared to Rs. 113 Cr in Q2FY26. Consolidated Profit after tax and non-controlling interest was Rs. 12.45 Cr in Q2FY27 . This includes an exceptional item of Rs. 80 .26 Cr, relating to the closure of operations of CUMI Awuko Abrasives GmbH (CAAG). Without the effect of this exceptional item, Profit After Tax and non -controlling interest would have been Rs. 9 2.7 Cr. Consolidated Profit after tax and non-controlling interest was Rs. 75 Cr in Q2FY26.
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For the first half of FY27, Consolidated Profit after tax and non-controlling interest was Rs. 89 Cr compared to Rs. 136 Cr in the same period last year. Without the exceptional expense incurred in Q2FY27, profit after tax of H1FY27 would have been Rs. 169 Cr. In Q2FY27, Standalone Profit after tax was Rs. 72 Cr compared to Rs. 64 Cr in Q2FY26. For the first half of FY27, Standalone Profit after tax was Rs. 160 Cr compared to Rs. 209 Cr in the same period last year. H1FY26 included a one-time dividend of Rs. 68 Cr received from a subsidiary. Without the impact of this dividend income, profit after tax of H1FY26 would have been Rs. 142 Cr. At the consolidated level, capital expenditure incurred during H1FY27 was Rs. 127 Cr, as compared to Rs. 162 Cr in H1FY26. Consolidated debt was at Rs. 362 Cr, and cash was Rs. 251 Cr excluding cash at V olzhsky Abrasive Works, leaving a net debt of Rs. 111 Cr. The Debt Equity Ratio was 0.09 Ceramics Ceramics standalone sales for the quarter was Rs. 313 Cr, a growth of 37.2% compared to Q2FY26 and 14.0% compared to Q1FY27. Standalone ceramics was driven by strong orders in the Engineered ceramics, Metallized Cylinders, and Refractories segments. Consolidated sales for Q2FY27 was Rs. 410 Cr, a growth of 36.1% compared to Rs. 301 Cr in Q2FY26 and a growth of 17.6% compared to Q1FY27. Ceramics Standalone sales for H1FY27 was Rs. 587 Cr, a growth of 25.9% compared to H1FY26. Consolidated sales for H1FY27 was Rs. 759 Cr, a growth of 26.3% compared to H1FY26. Standalone Profit before finance cost and tax was Rs. 67 Cr in Q2FY27 compared to Rs. 45 Cr in Q2FY26, and Rs. 59 Cr in Q1FY27, representing a growth of 48.2% and 14.4% respectively. In Q2FY27, Consolidated Profit before finance cost and tax was Rs. 101 Cr compared to Rs. 62 Cr in Q2FY26, and Rs. 74 Cr in Q1FY27. This marked a growth of 62.1% and 36.0% respectively. Standalone Profit before finance cost and tax was Rs. 126 Cr compared to Rs. 107 Cr in H1FY26, marking a growth of 17.6%. Higher ceramics and refractories volumes in H1FY27 compared to the same period last year contributed to the gains. For H1FY27, Consolidated Profit before finance cost and tax was Rs. 1 76 Cr compared to Rs. 137 Cr in H1FY26. This marked a growth of 28.0%.
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Electro Minerals Standalone sales for the quarter was Rs.279 Cr. This is the growth of 31.3% compared to Rs. 213 Cr in Q2FY26, and marginally lower than Q1FY27. In Q2FY27, consolidated sales was Rs.443 Cr, 11.1% higher than Q2FY26, and 6.3% lower than Q1FY27. Electrominerals Standalone sales for H1FY27 was at Rs.561 Cr, a growth of 32.1% compared to H1FY26. Consolidated sales for H1FY27 was at Rs.916 Cr, a growth of 14.0% compared to H1FY26. In Q2FY27, Standalone PBIT was Rs. 29 Cr, which is 49.1% higher than Q2FY26, and 24.3% lower than Q1FY27 . C onsolidated profit before finance cost and tax was at Rs.2 6 Cr, compared to Rs.33 Cr in Q2FY26 and Rs. 22 Cr in Q1FY27. For standalone business, for the first half of the year, Profit before finance cost and tax was at Rs.68 Crores against Rs.27 Cr during same period of last year. Consolidated Profit before finance cost and tax for H1 FY27 was at Rs.4 8 Cr against Rs.37 Cr during same period of last year. Abrasives Standalone sales for the quarter was Rs.357 Cr, which is 15.9% higher than Q2FY26, and 8.6% higher than Q1FY27. Growth was broad-based and driven by all segments including Precision, Industrial and Retail. Consolidated sales for Q2FY2 7 was Rs. 607 Cr. This is a growth of 4.0% compared to Q2FY26. Consolidated Sales of Q2FY27 was at similar levels to Q1FY27. Abrasives standalone sales for H1 FY27 was at Rs.685 Cr, an increase of 15.3% compared to H1FY26. Abrasives consolidated sales for H1FY27 was at Rs.1,217 Cr, 11.5% higher than Rs. 1,091 Cr in H1FY26. Further to our intimation dated 30 th March 2026 regarding the decision of the Board of CUMI International Limited to initiate closure of CUMI Awuko Abrasives GmbH (CAAG), a wholly owned step-down subsidiary of the Company, the financial information of CAAG was prepared on a realisable value (non-going concern) basis and accounted Rs. 11 9 Cr under the heading exceptional items in the consolidated financial results, during the year ended March 31, 2026 , representing write -down of various assets and recognition of restructuring costs.
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As part of the closure process, CAAG entered into agreements in October 2026 for the sale of all its property, plant and equipment and inventory for an aggregate consideration of Rs. 5.34 Cr. CAAG has also entered into a reconciliation of interest and social plan with all the employees in accordance with applicable German labour law requirements. The financial impact arising from these actions has been recognised as an expense of Rs.80.3 Cr under the heading exceptional items in the consolidated financial results, representing write-down of various assets and recognition of restructuring costs disclosed in the notes to the financial statements for the period ended 30 th September 2026. With the completion of the above steps, CAAG is now proceeding with the f inal liquidation/de - registration in accordance with the applicable German laws. In Q2FY27, Standalone PBIT was lower at Rs.37 Cr as compared to Rs.47 Cr in Q2FY26 and better as compared to Rs.34 Cr in Q1FY27. Q2FY27 Consolidated profits before finance costs and tax was Rs.40 Cr, compared to Rs.33 Cr in Q2FY26, and was at a similar level to Q1FY27. In H1FY27, Standalone PBIT was Rs. 72 Cr compared to Rs. 84 Cr in H1FY26. Consolidated Profit before finance cost and tax for H1FY27 was at Rs.80 Cr against Rs.45 Cr during same period of last year. About Murugappa Group A 126-year-old conglomerate with presence across India and the world, the INR 1,056 billion (₹105,582 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, CG Semi, Shanthi Gears, CUMI, Gromor, Paramfos, Parry’s are part of the Group’s illustrious stable. Abrasives, technical ceramics, electrominerals, electric vehicles, auto components, fans, 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 1,06,224 employees. For more information, see www.murugappa.com