CUMI eyes consolidated sales of ₹4,600 cr. in FY23
The Hindu
Half of the revenue will come from acquired firms
Carborundum Universal Ltd’s (CUMI) is expected to post a consolidated sales of ₹4,500-4,600 crore for FY23, with 50% of revenue coming from acquired firms.
“Roughly 50% of the growth will come from organic and 50% through acquisitions. Acquisitions would contribute about ₹600 crore of the growth in a full year,” said R. Sridharan, Director Finance and Strategy during earnings call.
In February 2022, CUMI acquired Germany-based Rhodius Abrasives and Awuko Abrasives.
According to Mr. Sridharan both were progressing well. Rhodius would turn profitable by FY24 and Awuko would be zero profit before tax.
In Q3 of FY23, Rhodius achieved a net sales of €15 million against ₹14 million in Q2. Year to date basis, it was €47 million sales. It would end the year €68-70 million, with a loss of €3.5-4 million.
He attributed the loss to integration cost of about €1.5 million and goodwill write-off of about €2.8 million. The company would have made a small profit of €600,000, if these were excluded, he explained.
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