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Market value of Murugappa's investments surges 37% to Rs 10,986 cr

As on January 7, the value of its investments was slightly higher at over Rs 11,400 based on the holdco's shareholding on September 2019

T E Narasimhan  |  Chennai 

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Ambadi Investments, the holding company of the Murugappa group, which is caught in a family dispute, saw the market value of its rise by 37 per cent year-on-year as on March 31, 2018 to Rs 10,986 crore according to the latest available annual report. As on January 7, the value of its was slightly higher at over Rs 11,400 based on the holdco’s shareholding on September 2019.

Valli Arunachalam's, one of the heirs to the 119-year old Rs 37,000 crore Murugappa Group, who claims that her family holds over 8 per cent shares in the holding company, is fighting for a seat on the Ambadi board or fair market value for our stake in the holding company.

The eight-member male-only board had eight directors, including six from the family and two independent directors.

Arunachalam told Business Standard earlier that she was fighting a lone battle for equal rights for women in the boardroom.

According to Ambadi Investments' annual report for the year 2017-18, the total market value increased to Rs 10,985.76 crore as on March 31, 2018 from Rs 7,982.18 crore, a year ago.

As on September 2019, the company holds shares directly in six listed associate of including Tube Investments, Cholamandalam Financial Holdings, EID Parry (India), Carborundum Universal, Cholamandalam Investment & Finance and Kartik Investment Trust. The stake would be higher if crossholdings were to be included.

Ambadi Investments also has two unlisted subsidiaries Parry Agro Industries (77.91 per cent stake) and Parry Enterprises India (73.14 per cent).

First Published: Thu, January 09 2020. 18:54 IST
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