Page 4 - Murugappa Group

Carborundum Universal Q2 profit up 34% to Rs 86.4 cr, sales rise 1%

Revenue from abrasives for the quarter was flat at Rs 259 crore at both, the consolidated and the standalone levels

Valli Arunachalam issues legal notice to Murugappa family members, others

The development comes after the shareholders of AIL voted against the induction of Arunachalam into its board

Top headlines: LVB gets non-binding offer from Clix, Future Group vs Amazon

From Lakhsmi Vilas Bank getting non-binding offer from Clix to India's richest getting richer amid lockdown, Business Standard brings you the top headlines of the day

Murugappa family votes to keep Valli Arunachalam out of holding co board

Arunachalam has been battling to be recognised as her father's successor on the board

Will SC verdict on coparcenary lead to more disputes among biz families?

Lawyers say this judgment can open a can of worms as women in many business families can now assert their right to an equal share in inheritance

Street sees CG Power's acquisition by Tube Investments as a win-win deal

A stronger partner will help business growth; further gains for the stock hinges on pricing and deal completion

CG Power acquisition likely to double revenues of Tube Investments

But turnaround could stretch its finances in short term

Murugappa Group's Tube Investments buys controlling stake in CG Power

The two companies entered into an agreement for issuance and allotment of equity shares and warrants totalling to Rs 700 crore on Friday

Tube Investments to focus on other businesses to reduce exposure to auto

Growth in these businesses will have to come from both organic and inorganic means over next 3-5 years, says firm's MD Vellayan Subbiah

Murugappa group's profit before tax increases 2.2% at Rs 4,106 cr in FY20

Manufacturing entities generated a free cash flow of Rs 1,903 crore as against negative Rs 30 crore

Caborundum Universal expands Tamil Nadu facility with Rs 48 cr investment

The investment made is funded entirely from internal accruals

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

Family rift over asset settlement out in the open at Murugappa Group

Daughter of former group patriarch says will explore all options if not treated fairly on asset settlement

Lotte picks up the confectionary trail, puts spotlight back on Coffy Bite

The Korean major that owns Parry's Confectionary turns to an old faithful brand, Coffy Bite, to push its way forward in the candy and gums business

Murugappa Group eyes double-digit growth in FY20, plans Rs 1,300 cr capex

Group is going ahead with expansion despite challenges faced in its main businesses such as fertilizer, sugar, engineering and financial services

What Murugappa Group's chief learned from the Tao of Leadership

Murugappan speaks to T E Narasimhan & Gireesh Babu about how keeping things simple has worked in his favour

Murugappa Group to invest Rs 20 billion in next two years

The plan includes a Rs 3.50-billion investment into expansion of its phosphoric acid facility in Visakhapatnam

Murugappa Group appoints M M Murugappan as exec chairman, succeeds Vellayan

In a change of guard in the Rs 300 billion-Murugappa Group, M M Murugappan has taken charge as the Executive Chairman of the Group today, succeeding A Vellayan who has been the Executive Chairman from November 2009. Vellayan retires, as customary in the Murugappa Group, at the age of 65. Murugappan was the vice-chairman of the Group so far.During his tenure, A Vellayan steered the Group's growth through organic and inorganic initiatives, recording nearly 100% increase in revenues from Rs 159.07 billion in 2008-09 to Rs 300.23 billion in 2016-17. During this period, the Group's earnings before interest, tax, depreciation and amortization (EBITDA) had gone up from Rs 15 billion to Rs 40 billion and in percentage from 10 per cent to 14 per cent. The Group's market cap has gone up from Rs 116 billion to over Rs 700 billion at the end of January 2018. It took nearly 109 years for the Group to reach market capitalisation of $1 billion, and it was then Vellayan took over as the Executive ...

Murugappa Group to rope in start-ups to strengthen its agri biz

It is already working with start-ups in the fertiliser business and with non-banking finance firms

Implementation of swadeshi policies have started benefitting, says Vellayan

Also says, better performance, investor confidence in India & a strong rupee have helped businesses