CMP: 150

Carborundum Universal manufactures refractories and electromineral grains. The Company produces coated and bonded abrasives, super refractories, aluminum oxide grains, calcined bauxite, electrocast refractories, silicon carbide grains and industrial ceramic products.

Carborundum is a leader in its niche segment. Its still a small budding mid-cap trading at a P/E of over 22 with dividend yields of over 1% in the last 12 months. It runs at a debt of 97 Crores with 19 Crores cash in hand. Revenues have risen from 587 Crores to 1125 Crores in the last 5 years. Profits have risen from 97 Crores to 147 Crores in the last 5 years. Profit margins have dipped from 16% to 13% over the last 5 years. Its not a great growth story, but a leader in its niche.