Analysts/Institutional Investor Meet/Con. Call Updates

14th August 2026 BSE Limited 25th Floor, Phiroze Jeejeebhoy Towers Dalal Street, Fort Stock Code: 513375 Mumbai- 400001 National Stock Exchange of India Ltd. Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E) Stock Code: CARBORUNIV Mumbai – 400 051 Dear Sir/Madam, Sub: Transcript of the Investor Call In continuation of our letter dated 10th August 2026 informing the upload of the audio recording of the Investor Call held with analysts/investors, please find enclosed the transcript of the said call. The aforesaid transcript is also available on the Company’s website and can be accessed at the following link: Transcript Link Request you to kindly take the above on record. Thanking you Yours faithfully For Carborundum Universal Limited Rekha Surendhiran Company Secretary Encl: As above “Carborundum Universal Limited Q1 FY '27 Earnings Conference Call” August 10, 2026 MANAGEMENT: MR. SRIDHARAN RANGARAJAN - MANAGING DIRECTOR, CARBORUNDUM UNIVERSAL LIMITED MR. CHANDRAMOULI - ADVISOR, CARBORUNDUM UNIVERSAL LIMITED MODERATOR: MR. KUNAL SHAH - DAM CAPITAL ADVISORS LIMITED Page 1 of 17 Carborundum Universal Limited August 10, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Carborundum Universal Q1 FY '27 Earnings Conference Call hosted by DAM Capital Advisors Limited. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing “*” then “0” on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Kunal Shah from DAM Capital Advisors Limited. Thank you and over to you, sir. Kunal Shah: Yes, good afternoon everyone. Welcome to the 1Q FY '27 Earnings Call of Carborundum Universal Limited. From the Management side today, we have Mr. Rangarajan – the Managing Director and Mr. Chandramouli – the Advisor. At this point, I would like to hand over the call to the management for their opening remarks, post which we can take up the Q&A. Thanks and over to you sir. G. Chandramouli: Good morning. I am Chandramouli. Let us start the proceeding with the disclaimer: During this call, we may make certain statements which reflect our outlook for the future, or which could be construed as forward-looking statements. These statements are based on management current expectations and are associated with uncertainties and risks are more fully detailed in our annual report which may cause the actual result to differ. Hence, these statements must be reviewed in conjunction with the risks that the company faces. Thank you. Sridharan Rangarajan: Thank you. Good morning to all of you and a very warm welcome to our first quarter earnings call. I hope you and your family members are safe and doing well. We will begin the call by providing an overview of the performance and then we will take up your questions. To begin with, I will start with the standalone performance: In Q1 FY'27, standalone sales were INR 846 crores compared to INR 698 crores in Q1 FY'26, which is a growth of 21.2%. Growth at standalone level was broad-based and driven by all three segments. Electrominerals segment grew by 33%, Ceramics segment grew by 15.2%, and Abrasive segment grew by 14.7%. Page 2 of 17 Carborundum Universal Limited August 10, 2026 On a sequential basis: Standalone sales were INR 846 crores compared to INR 845 crores. So, almost flat. Sequential growth was driven by EMD which grew by 12.2%, but ceramic segments declined marking a decline of 1.6% and Abrasive also declined about 6.9%. Both are due to seasonality of the business. Standalone profit after tax in Q1 FY'27: Standalone PAT was INR 88 crores compared to INR 77 crores in Q1 FY'26 without the impact of one-time dividend of INR 68 crores received from a subsidiary in Q1 FY'26. This marks a growth of 14.3% on a like-to-like basis. On a sequential basis, PAT declined by 28.3% from INR 120 crores in Q4 FY'26 to INR 88 crores in Q1 FY'27. Profit of Q4 FY'26 included dividend income of subsidiaries and JVs of INR 30.5 crores compared to a dividend income of INR 14.5 crores in Q1 FY'27. Besides this, it also reflects the seasonality of the business. Consolidated sales in Q1 FY'27 were INR 1,411 crores compared to INR 1,207 crores in Q1 FY'26. This is a growth of 16.9%. On a sequential basis, the consolidated sales grew by 2% from INR 1,383 crores to INR 1,411 crores. Consolidated profit after tax: In Q1 FY'27, consolidated PAT was INR 76 crores compared to INR 62 crores in Q1 FY'26, which is a growth of 23.4%. Sequentially, the Company reported a PAT of INR 76 crores in Q1 FY'27 compared to a loss of INR 18 crores in Q4 FY'26. If you remember, consolidated PAT in Q4 FY'26 included exceptional items, costs of about INR 135 crores related to CUMI Awuko Abrasives and Foskor Zirconia (Pty) Limited. Segment Results and PBIT of standalone I will cover now: In Q1 FY'27, segment results of standalone increased by 24.1% from INR 106 crores in Q1 FY'26 to INR 132 crores. Electrominerals PBIT increased from INR 7 crores to INR 39 crores, while Ceramics and Abrasive PBIT declined marginally to INR 59 crores and INR 34 crores respectively. Standalone PBIT was INR 115 crores in Q1 FY'27 compared to INR 98 crores in Q1 FY'26, excluding the one-time dividend of INR 68 crores in Q1 FY'26. On a sequential basis, segment results dropped by 9% from INR 145 crores to INR 132 crores as higher EBIT in EMD and ceramic was offset by decline in Abrasives. Electrominerals PBIT increased from INR 28 crores to INR 39 crores, Ceramics PBIT increased from INR 57 crores to INR 59 crores, while Abrasive PBIT declined from INR 60 crores to INR 34 crores. Page 3 of 17 Carborundum Universal Limited August 10, 2026 Segment results and PBIT of consolidated I will cover now: In Q1 FY'27, segment result was INR 133 crores compared to INR 89 crores in Q1 FY'26 and INR 112 crores in Q4 FY'26. In Q1 FY'27, consolidated PBIT was INR 114 crores compared to INR 81 crores in Q1 FY'26, marking a growth of 40.9%. On a sequential basis, consolidated PBIT increased by 11.6% from INR 102 crores in Q4 FY'26 to INR 114 crores in Q1 FY27. Now I will cover the segment performance: We will take up first Abrasive segment: Consolidated Abrasives: In Q1 FY'27, consolidated Abrasive sales were INR 610 crores compared to INR 508 crores in Q1 FY'26, which is a growth of 20.1%. On a sequential basis, sales remained flat at INR 610 crores. Standalone Abrasives: In Q1 FY'27, Abrasive sales were INR 328 crores compared to INR 286 crores in Q1 FY'26, which is a growth of 14.7%. Growth was driven both from domestic as well as export. On a sequential basis, sales declined by 6.9% from INR 353 crores in Q4 FY'26 to INR 328 crores in Q1 FY'27. On a quarter-on-quarter basis, all segments contributed to the growth. Growth was predominantly volume-driven and very small price increase. I will now cover the Rhodius Abrasives: In Q1 FY'27, Rhodius sales were EUR 15.6 million compared to EUR 13.2 million in Q1 FY'26, which is a growth of 18%. In Q1 FY'26, sales had been impacted by an operational transformation of logistics or warehouse facility in the company. On a sequential basis, sales increased by 1.1% from EUR 15.5 million in Q4 FY'26 to EUR 15.6 million in Q1 FY'27. Growth was more pronounced in INR terms on account of the depreciation of INR against Euro. In INR terms, Q1 FY'27 sales were INR 172 crores compared to INR 128 crores in Q1 FY'26, marking a growth of 33.9%. On a sequential basis, sales increased by 4.3% from INR 165 crores to INR 172 crores. In Q1 FY'27, Rhodius reported a loss after tax of EUR 0.7 million compared to loss after tax of EUR 1.6 million in Q1 FY'26, representing an improvement of EUR 0.9 million. In Q4 FY'26, Rhodius recorded a PAT of EUR 0.44 million. During the last call, we said Rhodius could grow by 5% in FY [Showing first 8,000 characters — download PDF for full document]