Business

Murugappa Group registers robust growth of 12 per cent in turnover

ANI | May 16, 2019 05:14 PM
M. M. Murugappan, Executive Chairman and Sridharan Rangarajan, President and Group CFO, addressing the media

Chennai (Tamil Nadu) [India] May 16 (ANI/NewsVoir): Murugappa Group registered a growth of 12 per cent in turnover at Rs 36,893 crores during 2018-19 (last year Rs 33,079 crore).

Earnings before Interest, Taxes, Depreciation and Amortisation (EBITDA) posted a growth of 12 per cent, at Rs 5,190 crore (last year Rs 4,618 crore). Profit after Tax was Rs 2,880 crore (last year Rs 2,432 crore) registering a growth of 18 per cent.

A: Company-wise Performance:

Figures in Rupees Crores

B: Market Capitalisation

Market Capitalisation of the listed companies of the group aggregates to Rs 66,000 crore as of March 31, 2019.

C: Major Initiatives

1. Cholamandalam Investments announced its plan to launch its housing finance subsidiary, subject to the approval from National Housing Board.

2. Shanthi Gears Limited bought back 50 Lakh equity shares at a price of Rs 140 per share.

3. Coromandel International in association with IIT Bombay and Monash University, Australia set up the IIT MONASH Academy.

4. Carborundum Universal has initiated the capacity expansion of coated maker plant at Sriperumbudur.

5. Tube Investments has commissioned new plants for Tubes at Rajpura and undertaken capacity expansion in Metal Forming business.

6. EID Parry has successfully commissioned back-end refinery at Haliyal.

7. Chola MS renewed its bancassurance tie-up with IndusInd Bank Ltd. for a further period of five years, for the third consecutive time.

8. TI Financial Holdings Limited rechristened as Cholamandalam Financial Holdings Limited.

9. Coromandel International's capacity expansion of Phosphoric Acid Plant at Vizag is on track.

D: Capital Expenditure

Aggregate capital expenditure programmes towards expansion/debottlenecking/modernising/digital infrastructure facilities across group companies were over Rs 750 crore during the year.

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)

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