Page 2 - Murugappa Group

EID Parry reports Rs 339 crore Q3 standalone profit vs loss a year ago

Standalone revenue flat at Rs 439 cr, consolidated up 15%

Cholamandalam Investment MD Arun Alagappan quits, to step down on Feb 14

Will assume larger responsibilities within the Group, say Sources

Murugappa Group signs agreement for settling CG Power's dues, loan recast

Says CG Power's resolution of outstanding obligation towards its lenders has been completed by upfront payment of Rs 650 crore to lenders as compromise settlement

Tube Investments increases stake in CG Power after preferential allotment

Initially, TII invested around Rs 700 crore to acquire 51% stake in the scam-hit CG Power and Industrial Solutions

Tube Investments looks to reduce dependence on automobile industry

With the largest acquisition in its history, the Murugappa flagship is looking to reduce its dependence on the automobile industry and find new markets

Dismantling Murugappa Advisory Board not in investor interest: Arunachalam

She says she learnt about the development from media reports, not from the family

Murugappa Group revamp: 20-yr-old corporate advisory board to be disbanded

Instead of the board, which was managed by a family member and five outsiders, the group and individual companies will now be led by senior family members

CG Power lenders agree for loan recast, pave way for Murugappa takeover

CG Power and Murugappa Group firm Tube Investments of India Ltd, said lenders have accepted one-time settlement and restructuring of debt.

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