Carborundum Annual Summary
Carborundum Universal Limited
Annual Report 2010 - 2011
Contents
Year’s Summary Striking Gold i Chairman’s Statement xiii Financial Statements
Consolidated Financial Statements & Auditor’s Report Standalone Financial Statements & Auditor’s Report Director’s Report
2
23 50 Financial Track Record 87
General Shareholder Information
Corporate Governance
Corporate Governance & Auditor’s Certificate
90
95
2+1
STRIKING GOLD…
Record Sales. A growth graph climbing a new high. Produc on lines clocking op mum u liza on. In 2010-11 CUMI struck gold. Abrasives, Electrominerals and Ceramics - each of the business divisions rode the wave of a buoyant market, turning in record sales and profits. CUMI’s plant at Volzhsky, Russia, also touched gold, ramping up growth …show more content…
The Australian operations which experienced strong growth during the past few years appeared to lose some of its momentum. Share of international operations in the overall revenue pie increased from 45 per cent to 47 per cent during the year depicting an increasingly international character which the Company’s businesses are assuming. On a standalone basis, the growth was even more pronounced, aided by the strong acceleration in the Indian economy. Growth in revenues was driven not only by robust performance in the domestic business but also by sales to international markets.
In India, the economy has emerged with remarkable rapidity IURP WKH VORZGRZQ FDXVHG E\ WKH JOREDO ÀQDQFLDO FULVLV *URZWK in 2010-11 as per the Advance Estimates released in January 2011 is estimated at 8.6%. Rebound in agriculture and continued momentum in manufacturing, despite the deceleration in services, helped to drive the economy. The slight slowdown in industrial 2
Report of the
Annual Report 2010 - 2011
Contents
Year’s Summary Striking Gold i Chairman’s Statement xiii Financial Statements
Consolidated Financial Statements & Auditor’s Report Standalone Financial Statements & Auditor’s Report Director’s Report
2
23 50 Financial Track Record 87
General Shareholder Information
Corporate Governance
Corporate Governance & Auditor’s Certificate
90
95
2+1
STRIKING GOLD…
Record Sales. A growth graph climbing a new high. Produc on lines clocking op mum u liza on. In 2010-11 CUMI struck gold. Abrasives, Electrominerals and Ceramics - each of the business divisions rode the wave of a buoyant market, turning in record sales and profits. CUMI’s plant at Volzhsky, Russia, also touched gold, ramping up growth …show more content…
The Australian operations which experienced strong growth during the past few years appeared to lose some of its momentum. Share of international operations in the overall revenue pie increased from 45 per cent to 47 per cent during the year depicting an increasingly international character which the Company’s businesses are assuming. On a standalone basis, the growth was even more pronounced, aided by the strong acceleration in the Indian economy. Growth in revenues was driven not only by robust performance in the domestic business but also by sales to international markets.
In India, the economy has emerged with remarkable rapidity IURP WKH VORZGRZQ FDXVHG E\ WKH JOREDO ÀQDQFLDO FULVLV *URZWK in 2010-11 as per the Advance Estimates released in January 2011 is estimated at 8.6%. Rebound in agriculture and continued momentum in manufacturing, despite the deceleration in services, helped to drive the economy. The slight slowdown in industrial 2
Report of the