Latest news with #MurugappaGroup
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Business Standard
16-05-2025
- Business
- Business Standard
Tube Investments Q4 results: Consolidated PAT of ₹158 cr on higher income
Tube Investments of India Ltd has reported a consolidated profit after tax of Rs 158.19 crore for the January-March 2025 quarter, the company said on Friday. The company, part of the city-based diversified conglomerate, Murugappa Group, had registered a net profit of Rs 274.46 crore during the corresponding quarter of last year. For the year ending March 31, 2025 the profit after tax stood at Rs 1,054.29 crore, as compared to Rs 1,732.99 crore registered in the year-ago period, a press release said. The consolidated total income for the quarter under review grew to Rs 5,308.21 crore, from Rs 4,573.48 crore registered during the corresponding quarter of the last fiscal. For the financial year ending March 31, 2025 the total income stood at Rs 19,835.71 crore, as against Rs 17,142.04 crore registered in the year-ago period. The Board of Directors has recommended a final dividend of Rs 1.50 per share for the financial year 2024-25. An interim dividend of Rs 2 per share was declared in February 2025, and it was paid to shareholders in March. Engineering division of the company garnered revenue for the full year ending March 31, 2025 at Rs 5,029 crore as compared to Rs 4,921 crore registered in the year-ago period. Metal Formed products division earned total revenue of Rs 1,565 crore as compared to Rs 1,519 crore registered in the year-ago period. The Mobility business vertical reported a revenue of Rs 671 crore for the full year ending March 31, 2025 as compared to Rs 664 crore clocked in the year-ago period. On the performance of group companies, Tube Investments Ltd said its subsidiary CG Power and Industrial Solutions Ltd registered a consolidated revenue of Rs 9,909 crore for the year ending March 31, 2025 as against Rs 8,046 crore registered in the previous year. Shanthi Gears Ltd, another subsidiary company of Tube Investments Ltd and engaged in the manufacturing of gear and gear products, registered a revenue of 605 crore for the year ending March 31, 2025 as against Rs 536 crore, recorded in the year-ago period.
Mint
13-05-2025
- Business
- Mint
Murugappa's chip testing plant to begin supplies next year, says JV partner
The $9-billion Murugappa Group's outsourced semiconductor assembly and testing (Osat) plant, approved in February last year in partnership with Japan's Renesas Electronics, will commence supplying chips to paying clients by the first half of next year, according to a senior executive. 'The trial production, to be sure, will begin as early as the next few months itself," said Malini Narayanamoorthi, India head of Renesas. 'We already have clients to serve out of the Osat, which will commence next year." The Osat plant in Gujarat's Sanand, involving a net investment of around $222 million over five years, is majority owned by CG Semi, a wholly owned subsidiary of Chennai-based Murugappa Group. The factory was among the first to be approved to receive state and central government incentives under the India Semiconductor Mission's first tranche. Renesas, with around 7% stake, plays the role of a technology partner—a mandate set by the Centre's India Semiconductor Mission. Also Read: India fast-tracks $3-billion spy satellite scheme following Operation Sindoor Osat plants are third-party facilities that help chip manufacturers assemble and test processors, before they are 'packaged' into an integrated circuit and placed inside devices such as smartphones, personal computers, internet-enabled infrastructure and everything else that processes data in some form. Three Osat facilities were approved by the ministry of electronics and IT (Meity) under India's first set of semiconductor incentives. These are being built by Tata Electronics and Kaynes Technology, alongside the CG Semi-Renesas joint venture. Renesas ups hiring, eyes new chip design hubs 'We operate as an entity of Renesas' global operations. Joint ventures and partnerships are a part of our operations, but we do not intend to conduct a blanket joint venture strategy for all our operations," said Narayanamoorthi. 'To bolster our position here, we plan to hire 300 people—mostly semiconductor designers—by the end of this year. We also plan to set up two new facilities—in Bengaluru and Hyderabad—also by the end of this year." As part of the company's initiatives, Renesas is designing a cutting-edge 3-nanometre semiconductor chip from India, the patent of which will have anchor customers that already work with Renesas—as well as any other venture commercially in future, she said. Also Read: Satellite internet: Services may finally commence by June 2025 A 3-nanometre chip is currently the world's most sophisticated semiconductor processor found in consumer electronics, such as Apple's latest iPhones. Building sophisticated chips increases India's value in the global chip ecosystem. India's chip design ambition gets 3nm push Union IT minister Ashwini Vaishnaw, speaking at the inauguration of Renesas' new engineering centre in Noida, said that this is 'the first time that a 3nm chip is being designed in India". 'This showcases India's potential to play a crucial role in the global semiconductor and electronics ecosystem, and reflects confidence among global firms to consider India as a high-potential geography for semiconductors," Vaishnaw said. India is already a hub for semiconductor design. The country accounts for almost one-fifth of all semiconductor designers in the world, with companies such as US-based Intel, Advanced Micro Devices (AMD) and Applied Materials, among others, all housing chip designers in the country. Vaishnaw said that Renesas' development of chip design in India 'will be owned by India." Owning patents and IPs in technology drives the highest amount of value in the semiconductor ecosystem. According to an estimate by consulting firm Deloitte in February, the semiconductor market around the world is set to be worth close to $700 billion by December. Also Read: The legacy of 'The Last of Us', a landmark in story mode The chip design patents by the likes of Renesas in India can help India increase its local value addition—a factor that industry experts and analysts peg as the most crucial factor for the country's push to become a $500-billion electronics ecosystem by 2030, said SD Sudarsan, executive director of Centre for Development of Advanced Computing (C-Dac), Bengaluru. 'When such patents are developed, India will have to buy fewer patents when it comes to building a chip and a full integrated circuit—that today works as a conjunction of multiple tech patents around the world," Sudarsan said. 'This is a crucial part for India to make a bigger contribution to the global semiconductor space."
Economic Times
13-05-2025
- Business
- Economic Times
Carborundum Universal posts Q4 net profit of Rs 30.10 crore
Carborundum Universal Ltd, a manufacturer of abrasives, reported a consolidated net profit of Rs 30.10 crore for the January-March 2025 quarter, the company said. The city-based company had recorded a net profit of Rs 142.56 crore during the corresponding quarter of the previous financial year. ADVERTISEMENT For the year ending March 31, 2025, the company's net profit stood at Rs 298.71 crore, compared to Rs 476.18 crore reported in the same period last year. The consolidated total income for the quarter under review remained flat at Rs 1,223.38 crore, as against Rs 1,213.73 crore recorded in the year-ago period. For the full year ended March 31, 2025, consolidated total income rose to Rs 4,935.22 crore from Rs 4,778.84 crore in the previous financial year. In a statement on Tuesday, the company, which is part of the diversified Murugappa Group, said that capital expenditure during 2024-25 stood at Rs 282 crore, while the consolidated debt-equity ratio was 0.03 per cent. Under the abrasives business segment, the company recorded a 3.3 per cent growth in consolidated sales for FY 2024-25 at Rs 2,159 crore. The electro minerals division reported a 1.9 per cent growth, with sales reaching Rs 1,574 crore for the year ended March 31, 2025. ADVERTISEMENT Sales in the ceramics division grew by 7.7 per cent to Rs 1,160 crore for the full year, driven by performance in metallised ceramics, engineered ceramics, and refractories. The Board of Directors has recommended a final dividend of Rs 2.50 per share (250 per cent on the face value of Rs 1 per share) for shareholders. The statement added that the company had earlier paid an interim dividend of Rs 1.50 per share, taking the total dividend to Rs 4 per share (400 per cent on the face value of Rs 1 per share).
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Business Standard
06-05-2025
- Business
- Business Standard
CG Power tanks 8% on heavy volumes post Q4 results; check details
CG Power and Industrial Solutions share price today Share price of CG Power and Industrial Solutions, the Murugappa Group company, tanked 8 per cent to ₹584 on the BSE in Tuesday's intraday trade, amid heavy volumes, after the company announced its March 2025 quarter results. At 03:03 PM, CG Power shares were quoting 6 per cent lower at ₹595.95, as compared to a 0.15 per cent decline in the BSE Sensex. Average trading volume on the counter jumped over six-fold today with a combined 5.5 million equity shares having changed hands on the NSE and BSE till the time of writing this report. The stock had hit a 52-week low of ₹518.35 on April 7, 2025. CG Power Q4 results 2025 The company's reported standalone earnings before interest, taxes, depreciation and amortisation (Ebitda) margin contracted 20 bps to 15.9 per cent in Q4FY25 from 16.1 per cent in Q4FY24. Ebitda margins of the industrial systems segment declined to 11.8 per cent from 14.6 per cent in the previous-year quarter. The fall in margins came amid rise in commodity prices, increasing share of Railways business, and investment in consumer business, the management said. Sales grew 23 per cent year-on-year (Y-o-Y) and 7 per cent quarter-on-quarter (Q-o-Q) at ₹2,563 crore, while profit after tax increased 15 per cent Y-o-Y and 13 per cent Q-o-Q at ₹275 crore. Order intake for Q4FY25 was at ₹3,650 crore as against ₹3,636 crore in the previous quarter i.e. Q3FY25. Unexecuted order backlog as of Q4 was ₹9,909 crore, against ₹8,952 crore in Q3. The company said the order backlog remains robust at ₹9,909 crore and continues to be on an upward trajectory, offering strong revenue visibility for the upcoming fiscal year. About Murugappa Group A 124-year-old conglomerate, with presence across India and the world, the ₹77,800-crore Murugappa Group has diverse businesses in agriculture, engineering, financial services and more. The Group has nine listed companies: Carborundum Universal, CG Power & Industrial Solutions, Cholamandalam Financial Holdings, Cholamandalam Investment & Finance Company, Coromandel International, EID Parry (India), Shanthi Gears, Tube Investments of India, and Wendt India. Brands such as Ajax, Hercules, BSA, Montra, Montra Electric, Mach City, Chola, Chola MS, CG Power and Industrial Solutions Limited, Shanthi Gears, CUMI, Gromor, Paramfos, Parry's are part of the Group's illustrious stable. Abrasives, technical ceramics, electro minerals, electric vehicles, auto components, fans, transformers, signalling equipment for railways, bicycles, fertilisers, sugar, tea and several other products make up the Group's business interests.
The Hindu
30-04-2025
- Business
- The Hindu
Coromandel International Q4 net surges ₹578 crore
Murugappa Group company Coromandel International reported consolidated net profit for March quarter surged to ₹578 crore from ₹164 crore a year earlier on the back of sustained momentum across its businesses. The net profit came on a nearly 28% increase in total income to ₹5,114 crore (₹3,996 crore). For FY25, the agriculture solutions provider's net profit was 25% higher at ₹2,055 crore (₹1,641 crore) on a nearly 10% increase in total income to ₹ 24,444 crore (₹22,290 crore) The company has declared a dividend of ₹9 per share (face value of ₹1 each) for 2024-25. A strong performance for FY24-25, it was 'driven by sustained momentum across our businesses. Our growth was supported by higher sales volumes, improved operational efficiency, and disciplined execution of strategic initiatives,' said MD and CEO S. Sankarasubramanian. Coromandel shares closed 1.33% lower on Wednesday at ₹2,214.70 each on the BSE. Coromandel operates across diverse segments, including fertilisers, crop protection chemicals, bio products, specialty nutrients and organic fertilisers. It is also forayed into the emerging agri-drone spraying services. The company's board has approved the appointment of Natarajan Srinivasan as executive vice chairman.
