Event Type: Q1 FY27 Earnings Conference Call hosted by DAM Capital Advisors Limited

Event Date and Time: August 10, 2026 (specific time not mentioned in transcript)

Purpose of Event: Discussion of Q1 FY27 financial results and business performance across all segments, including strategic updates and forward guidance.

Management Participants:

  • Mr. Sridharan Rangarajan - Managing Director, Carborundum Universal Limited
  • Mr. Chandramouli - Advisor, Carborundum Universal Limited
  • Mr. Kunal Shah - DAM Capital Advisors Limited (Moderator)

Availability of Materials: The transcript of the earnings call is available on the company's website at: https://www.cumi-murugappa.com/wp-content/uploads/2026/08/Earnings%20Call%20Transcript%20Q1FY27_clean.pdf

Compliance Statement: The management began with a standard disclaimer about forward-looking statements being subject to uncertainties and risks detailed in their annual report.

Financial Highlights Discussed

Q1 FY27 Standalone Performance:

  • Sales: INR 846 Cr vs INR 698 Cr in Q1 FY26 (21.2% growth)
  • Segment growth: Electrominerals +33%, Ceramics +15.2%, Abrasives +14.7%
  • PAT: INR 88 Cr vs INR 77 Cr in Q1 FY26 (14.3% growth on like-to-like basis excluding one-time dividend)
  • Sequential PAT decline of 28.3% from Q4 FY26 due to seasonality and lower dividend income

Q1 FY27 Consolidated Performance:

  • Sales: INR 1,411 Cr vs INR 1,207 Cr in Q1 FY26 (16.9% growth)
  • PAT: INR 76 Cr vs INR 62 Cr in Q1 FY26 (23.4% growth)
  • Sequential improvement from loss of INR 18 Cr in Q4 FY26 (which included exceptional items of INR 135 Cr)

Segment-wise Performance Details:

Abrasives Segment:

  • Consolidated sales: INR 610 Cr (20.1% YoY growth)
  • Standalone sales: INR 328 Cr (14.7% YoY growth)
  • Rhodius Abrasives: EUR 15.6M sales (18% YoY growth), loss of EUR 0.7M
  • CUMI Awuko Abrasives: EUR 2.89M sales (11.1% YoY growth), loss of EUR 1.69M
  • Closure process initiated for Awuko with exceptional items of INR 119 Cr recognized in Q4 FY26

Electrominerals Segment:

  • Consolidated sales: INR 473 Cr (16.8% YoY growth)
  • Standalone sales: INR 282 Cr (33% YoY growth)
  • VAW Russia: RUB 1.58B sales (-14.1% YoY), PAT RUB 52.1M
  • Foskor Zirconia: INR 107M sales (-11.7% YoY), determined commercially unviable

Ceramics Segment:

  • Consolidated sales: INR 349 Cr (16.5% YoY growth)
  • Standalone sales: INR 274 Cr (15.2% YoY growth)
  • Growth driven by industrial ceramics and refractories business

Updated FY27 Guidance:

  • Consolidated sales growth (comparable): 11-12% (potentially 15% excluding Foskor and Awuko)
  • Ceramics sales growth: Revised upward to 23-25% from 15-15.5%
  • Abrasives margins: 9.5-10% (excluding Awuko losses)
  • Ceramics margins: 20.5-21%
  • Electrominerals margins: 9-9.5%
  • CAPEX: INR 400 Cr maintained

Strategic Updates:

  • Progress on semiconductor wafer fabrication equipment components (small contributions in FY27, peaking in FY30)
  • Aerospace and defense applications development (FY28 onwards)
  • Metallized substrate business with anchor customer and technology tie-up (revenues from FY28)
  • Evaluation of options for Foskor Zirconia closure expected within next quarter

Additional Notes

Attachments: The document references an enclosed transcript of the investor call.

Financial Data Disclosure: The announcement itself does not contain financial data, but the transcript it references contains extensive financial figures and performance details.

Operational Details: The transcript includes detailed Q&A session with analysts covering various aspects of business performance, strategic direction, and market conditions.