MURUGAPPA GROUP
Need for rules comes to fore as India corporate landscape clutters up with family feuds
India's corporate landscape is witnessing a surge in family disputes that threaten the very foundation of long-established businesses. Following the exit or passing of key patriarchs, internal discord often erupts, underscoring the critical requirement for legislative mechanisms that favour transparent succession planning.
Cholamandalam Investment Q2 net profit rises 41% on strong income growth, plans Rs 5000 crore capital raise
Cholamandalam Investment and Finance reported a 41% rise in second-quarter net profit to Rs 1,630 crore, helped by strong income growth, higher loan disbursements and lower loan losses. The company’s board approved a proposal to raise up to Rs 5,000 crore through a qualified institutional placement.
Cholamandalam Investment Q2 Results: Profit surges 41% to Rs 1,630 crore; co plans to raise Rs 5,00O crore via QIP
Cholamandalam Investment and Finance Company has reported an impressive 41 percent surge in net profit for the second quarter, marking Rs 1,630 crore, up from Rs 1,155 crore the previous year. Their total income significantly increased to Rs 9,367 crore, primarily fueled by rising interest income. Additionally, the company's gross non-performing assets improved to 3.29 percent, signaling enhanced asset quality.
Manufacturing from CG Semi's second OSAT unit may start by early 2028
In August last year, CG Semi announced the launch of its outsourced semiconductor assembly and test (OSAT) facility in Sanand. It became one of India’s first full-service OSAT providers, offering solutions across both traditional and advanced packaging technologies. Backed by central and state government support, and in collaboration with Renesas and Stars Microelectronics, CG Semi is investing over Rs 7,600 crore ($870 million) over five years to develop both the G1 and G2 units.
India attracts $12 billion for chipmaking as global firms join the push: What it means for the sector
India is witnessing a surge in investment commitments under its ambitious semiconductor policy, with both global and domestic players pledging billions. Major firms such as Applied Materials and Lam Research are gearing up for noteworthy investments, while Micron Technology is set to initiate local testing and assembly of millions of chips. Meanwhile, Tata Group is enhancing its semiconductor supply chain through innovative partnerships.
Montra bets on heavy electric trucks to hit $1-billion revenue milestone by 2030
Montra Electric has set an ambitious goal of reaching one billion dollars in revenue by 2030, with electric trucks playing a vital role by contributing seventy percent of that figure. Heavy trucks are projected to bring in fifty percent of the total. Additionally, small commercial vehicles and three-wheelers are expected to enhance sales significantly, as the company anticipates over fifty percent annual growth in its electric heavy truck segment.
Titan, Murugappa may make iPhone camera parts to keep China out
Apple explores partnerships with Murugappa Group & Titan Company for local assembly of camera module sub-components in India, aiming to shift operations from China and strengthen the Indian supplier ecosystem.
Murugappa family completes the family arrangement with the family branch of late M V Murugappan
The Murugappa family has announced the successful completion of a family arrangement, resolving the longstanding issues with the family branch of the late MV Murugappan. Legal proceedings between the family groups will be withdrawn, and pending formalities will be settled in the coming days. Notably, the family arrangement does not impact the management or control of any listed companies within the Murugappa Group.
Valli Arunachalam slams Murugappa Group's restructuring move for being gender biased
The Rs 38,100-crore Murugappa Group's restructuring announcement has no mention of daughters being groomed for leadership roles in business, thus making it a conglomerate that continues to marginalise daughters and mentor only sons for leadership roles, the 59-year-old nuclear engineer said.
Valli Arunachalam files notices against Murugappa family members for rejecting her proposal
The development comes after the family members of the Murugappa Group voted overwhelmingly against the proposal to appoint Valli Arunachalam on the board of Ambadi Investments.
Murugappa Group set to win Swiss challenge for CG Power after no fresh bids, say sources
Chennai-based Murugappa Group firm Tube Investments of India Ltd (TIIL) had earlier this month offered to invest Rs 700 crore in CG Power and Industrial Solutions Ltd for a 56.6 per cent stake.
SS Gopalarathnam, Cholamandalam MS General Insurance Managing Director, retires
Gopalarathnam retired on Tuesday after a career spanning 41 years. He joined the Murugappa Group in 1979 as a Management Trainee at TI Cycles and served in various capacities in the finance and marketing functions across TI Cycles, TI Miller and TPI till 1998, when he was made the General Manager -Tubes.
Murugappa Group appoints MM Murugappan as executive chairman
Murugappan is on the board of several companies outside the Murugappa Group including Mahindra & Mahindra and Cyient Ltd as also on the board of Governors of IIT-Madras, for six years till November.
Murugappa Group clocks best ever performance in 2016-17
The firm recorded turnover of Rs 30,023 crore in 2016-17 as compared to Rs 29,395 crore registered during year ago period.
A Vellayan returns as Murugappa Group Chairman
Vellayan has resumed charge as Chairman of the Murugappa Group, five months after "stepping aside" from the post after market regulator Sebi slapped insider trading charges against him.
Murugappa Group firm Polutech Ltd to form joint venture with Japan's Organo Group
Polutech Ltd will form a joint venture (JV) with Japan-based Organo Group for providing water treatment services in the industrial sector.
Murugappa Group to enter into a JV with Japan's Organo Group
Organo Group will hold 49 per cent of this JV, and the remaining portion will continue to be with the Murugappa Group.
Lower GDP means reason for caution: Murugappa Group
Chennai-based business house Murugappa group has hinted that caution could be part of its business strategy in 2012-13 on account of macro-economic headwinds.
Murugappa group plans Rs 1,500 cr capital investment
Murugappa Group announced its proposal to make a capital expenditure of Rs 1,500 cr during 2011-12, as part of reaching its goal of becoming a $7.1 bn company.
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