Carborundum Universal

“In the last call, we said RHODIUS could grow by 5% in FY '27, and there could be a small loss at PAT level. We now expect sales to be flat compared to the last year and the loss to be lower than the last year.”

“So we feel that step one is that they should get to a break-even by Q1 of next year, and that's the first step that we are looking at.”

“All our programs that we want to pursue in terms of Aspiration 2030, we are pursuing this well. capex programs and our investments are all very much on track.”

“There we started working with at least 6, 7 major international customers in terms of the qualification process, and that program is well on track at this point in time.”

“These are now no more there, having addressed this, so the margins are getting better, the losses are coming down.”

“It will be progressively '30, '31 like that it will happen, but around that time.”

“In Q2 FY '27, PAT was RUB 98.7 million compared to RUB 222 million in Q2 FY '26.”

“In Q2 FY '27, Zirconia continued low level of operation with the sales of ZAR 53 million and a loss of ZAR 24 million.”

“So typically, they do an export of 85% plus, so the kind of same percentage is maintained.”

“Perhaps with the strong dollar and weak rupee, this is also pretty expensive for the importers into India, and my expectation is that probably it will slowly taper down.”

“Of that, obviously, the industrial Engineered Ceramics growth is the highest, where we find the Bloom-related product would be part of that, as well as the growth from Metallized Cylinders. These are the 2 vectors of growth.”

“The trajectory of growth is projected based on the strong demand coming from these segments, and that is the logic of our projecting higher top-line growth as well as the margin expansion.”

“So definitely, we are seeing a strong momentum. The project orders are also pretty strong, and that is how we are seeing at this point in time.”

“We see that industrial activity, construction, infrastructure-led demand are all at a good state, and we are seeing that this demand is continuing.”

“In a stable state, it will be higher.”

“So yes, the answer is the margins is bottomed out is my view.”

“Abrasives cost of manufacturing went up due to higher fuel prices, increase in input costs such as phenol, resins arising out of oil price increases. We could pass on a very small portion of the cost increase to the market.”

“We say couldn't pass on, it's largely a timing difference, as you rightly observed. We are now working in terms of trying to pass on this in the market.”

“So I think the Electrominerals margin drop is largely the product mix and the industry that we serve mix. These are the 2 major factors that is driving this margin drop, but it's not significant.”

“Cash and debt position, consolidated debt was at INR 362 crores and cash was INR 251 crore. This is excluding cash at VAW, leaving a net debt of INR 111 crore.”

“Yes. I think your observation is correct, and this should get reversed in H2, is our view. We are also working towards this. Two broad reasons is that receivable going up is one major reason.”

“The second is the normal inventory going up, which is also typical of you need to prepare yourself for a higher growth in H2, so you need to prepare yourself.”

“Consolidated debt-to-equity ratio is at 0.09.”

“As part of the closure process, AWUKO Abrasives entered into agreements in October '26 for the sale of all its property, plant, equipment, and inventory for an aggregate consideration of INR 5.34 crores.”

“Let me say that realistically think that we can complete it in this quarter.”

“With the completion of the above steps, AWUKO is now proceeding with the final liquidation and de-registration in accordance with applicable German”

“Of course, I won't be able to tell with certainty because we are exploring a few options, which I think shortly we'll be able to conclude.”

“All the profit drops were on account of the exceptional items of INR 80.3 crores included in Q2 FY '27.”

“The financial impact arising from these actions has been recognized as an exceptional item of INR 18.3 crores under the heading exceptional item in the consolidated financial results.”

“No, Sajal, I think I just answered that we don't expect any further loss. And what we've shown as assets held for sale is based on an agreed contract that we have, and in fact, the money is also received.”

“we accounted INR 119 crores under the heading exceptional items in consolidated financial results in Q4 '26.”

“It's a negligible number at this point in time, the operational side of it.”

“As far as Foskor is concerned, if you look at it, we have brought this on a realizable basis reporting, and hence we feel that we are fairly provided for and accounted on what we can get from the market.”

“As far as RHODIUS is concerned, we don't believe that there's any current write-offs that as you are describing.”

“And because of this war, the prices have shot up, and our ability to pass on this was not there.”

“The status quo predominantly remains the same. No specific update. We continue to operate at the same level of constraints, and that is what currently is continuing.”

“A combination of this also makes the import slightly unattractive, but otherwise, the threat continues. There is nothing called we are out of it.”

“All the base-level works we have initiated, we will take at least a year before we get a kind of complete this program. So we will share it at an appropriate time.”

“That is why we chose this line, and we chose clearly we are not looking at a mere substrate alone, but we are looking at value-added substrate.”

“No. there is no specific program tax benefit currently being made available. If you see the new tax codes, they have dispensed with many of these incentives. We are all at the normal tax rates.”

“So I would attribute the growth is predominantly to volume-driven growth.”

“So our current Zirconia facility is independent of our capability in South Africa. So we have established source, and we will continue to source those products from the current source. We have no disruption of the source.”