Carborundum Universal Limited (CUMI) has officially announced the completion of its acquisition of a 29.58% equity stake in M/s Putrim Renewables Private Limited (PRPL), involving an investment of Rs 6.48 Crores. This transaction follows the company’s previous intimation regarding the execution of a Power Purchase Agreement with PRPL on 10th April 2026.

The acquisition was executed in accordance with the Share Subscription and Shareholders’ Agreement entered into between CUMI, CSE Development (India) Private Limited, and PRPL. By securing this equity stake, CUMI continues to reinforce its commitment to sustainable energy sources, aligning with its broader environmental and operational objectives.

Carborundum Universal Limited, a prominent constituent of the Murugappa Group, is a vertically integrated leader in material sciences, specializing in Abrasives, Electrominerals, and Ceramics. The company provides critical solutions for surface engineering, wear protection, and thermal management across industries such as aerospace, defense, and semiconductors. In 2026, the company has focused on expanding its high-purity Silicon Carbide facilities and exploring Graphene applications, while simultaneously initiating restructuring measures for underperforming overseas subsidiaries like Awuko and Foskor Zirconia. Furthermore, CUMI has set an ambitious target for a 15% revenue surge in FY2027, leveraging its integrated business model to capture global industrial demand.

For the quarter ended March 31, 2026, Carborundum Universal reported a robust performance with standalone sales of Rs 845 Crores, marking a growth of 23.0% over the corresponding quarter of the previous year. Standalone profit after tax for the same period stood at Rs 122 Crores, compared to Rs 61 Crores in the previous year. The company’s growth was broad-based, led by strong contributions from the Electrominerals, Ceramics, and Abrasives segments. Notable institutional investors in the company include the Murugappa Group, SBI Funds Management Limited, and The Vanguard Group, reflecting strong market confidence in the firm’s leadership and financial stability.