Carborundum Universal Management Guidance Tracker

12 forward-looking guidance items tracked across 3 quarters.

Growth

Q2 FY26FY26 AUM growth of 20-22%Active

Management expects full-year AUM growth between 20% and 22%, with H2 stronger than H1.

Q4 FY26Ceramic segment growth 15-15.5% in FY27Tracked

Consolidated ceramic sales are expected to grow 15-15.5% in FY27, driven by strong backlog and customer demand.

Margins

Q2 FY26FY26 ROA of 2.8%+Active

Return on assets guided to be 2.8% or higher for the full year, improving from 2.6% in Q2.

Q2 FY26Credit cost range of 2.6-2.8% for H2 FY26Active

Credit cost expected to remain stable between 2.6% and 2.8% in the second half of the fiscal year.

Q2 FY26Opex ratio to remain at 3.7-3.8%Active

Operating expense ratio guided to stay in the range of 3.7% to 3.8% for the full year.

Q3 FY26Abrasives PBIT margin guidance revised to 4-4.5% from 6-6.5%Active

Abrasives PBIT margin guidance was lowered to 4-4.5% for FY26 from the earlier 6-6.5%.

Q4 FY26Consolidated abrasive margin improvement to 9.5-10%Tracked

Abrasive segment PBIT margin is expected to improve to 9.5-10% in FY27, from 4.3% reported in FY26 (7.9% excluding AUO losses).

Revenue

Q3 FY26Consolidated sales growth guidance maintained at 5.5-6.5%Active

Management maintained the earlier guidance of 5.5% to 6.5% consolidated sales growth for FY26.

Q3 FY26Ceramics consolidated sales growth revised to 13-14% from 16-18%Active

Ceramics sales growth guidance was marginally reduced from 16-18% to 13-14% for FY26.

Q4 FY26Consolidated revenue growth 4-4.5% in FY27; 11-12% excluding closed subsidiariesTracked

Management expects consolidated sales growth of 4-4.5% in FY27, but excluding revenue from Fascor and AUO (₹343 crore in FY26), comparable growth would be 11-12%.

Capex

Q3 FY26Capex guidance maintained at ₹350 crore for FY26Active

Management maintained the full-year capex guidance of ₹350 crore, with ₹248 crore already spent in 9 months.

Q4 FY26Capex of ₹400 crore in FY27Tracked

The company plans to spend approximately ₹400 crore on capex in FY27, focusing on advanced ceramics, furnace upgrades, and new product facilities.