Chennai, 10 August 2015 : The Board of Directors of Tube Investments of India Limited (TII) met today and approved the financial results for the quarter ended 30th June, 2015.

Consolidated Results

The Company’s consolidated Net Profit before Minority Interest for the quarter was at 158 Cr., a growth of 9% against the corresponding quarter of the previous year. Net profit after minority interest for the quarter was at
95 Cr. against 90 Cr. for the corresponding quarter in the previous year.

Cholamandalam Investment & Finance Company Ltd, a subsidiary company in the financial service business, disbursed 3508 Cr. during the quarter compared to
3188 Cr. in the corresponding quarter of the previous year. Consolidated Profit after Tax (PAT) for the quarter was at 111 Cr. against 96 Cr. for the corresponding quarter in the previous year, registering a growth of 16%.

Cholamandalam General Insurance Company Ltd., a general insurance subsidiary of the Company registered a Gross Written Premium (GWP) of 480 Cr. during the quarter as against 448 Cr. a growth of 7%. PAT for the quarter was at26 Cr. as against 27 Cr. compared with corresponding quarter in the previous year.

Shanthi Gears Ltd., a subsidiary company in the Gears Business, registered a revenue growth of 7% for the quarter compared with corresponding quarter of the previous year. The revenue for the quarter was 37.72 Cr. as against 35.26 Cr. for the corresponding quarter in the previous year. PAT for the quarter was at 1.89 Cr. as against 1.85 Cr.

Mr. L. Ramkumar, Managing Director said, “The performance of the bicycle division was good in terms of both revenues and profits. The Metal forming and Engineering divisions further improved on their leadership positions.”

Standalone Results

TII’s Revenue for the quarter was higher by 3% at
1009 Cr. as against 977 Cr. for the corresponding quarter in the previous year. The profit before interest and tax for the quarter was at 62 Cr. as against 60 Cr. for the corresponding quarter in the previous year. The PAT for the quarter was 18 Cr. as compared to 19 Cr. for the corresponding period in the previous year.

Review of Businesses

Bicycles

The Bicycle division registered a revenue growth of 18% during the quarter compared with corresponding quarter in the previous year. The revenue for the quarter was
426 Cr. as against 361 Cr. for the corresponding quarter in the previous year. Profit before Interest and Tax for the quarter was 30 Cr. as against 18 Cr. for the corresponding quarter in the previous year.

Engineering

The Engineering division registered a revenue drop of 10% during the quarter compared with corresponding quarter in the previous year. The revenue for the quarter was 395 Cr. as against 440 Cr. for the corresponding quarter in the previous year. Profit before Interest and Tax for the quarter was 18 Cr. as against 29 Cr. for the corresponding quarter in the previous year. The newly commenced Large Diameter Tube Plant is getting stabilized and production is getting ramped up.

Metal Formed Products

This division has registered a revenue growth of 3% during the quarter compared with corresponding quarter in the previous year. The revenue for the quarter was
220 Cr. as against 213 Cr. for the corresponding quarter in the previous year. Profit before Interest and Tax for the quarter was 18 Cr. as against 15 Cr. for the corresponding quarter in the previous year.

About Murugappa Group

Founded in 1900, the INR 269Billion Murugappa Group is one of India’s leading business conglomerates. The Group has 28 businesses including nine listed Companies traded in NSE & BSE. Headquartered in Chennai, the major Companies of the Group include Carborundum Universal Ltd., Cholamandalam Investment and Finance Company Ltd., Cholamandalam MS General Insurance Company Ltd., Coromandel International Ltd., Coromandel Engineering Company Ltd., E.I.D. Parry (India) Ltd., Parry Agro Industries Ltd.,Shanthi Gears Ltd., Tube Investments of India Ltd., and Wendt (India) Ltd.

Market leaders in served segments including Abrasives, Auto Components, Cycles, Sugar, Farm Inputs, Fertilizers, Plantations, Bio-products and Nutraceuticals, the Group has forged strong alliances with leading international companies like Groupe Chimique Tunisien, Foskor, Mitsui Sumitomo, Morgan Crucible and Sociedad Química y Minera de Chile (SQM). The Group has a wide geographical presence spanning 13 states in India and 6 continents.

Renowned brands like BSA, Hercules, Ballmaster, Ajax, Parry’s, Chola, Gromor and Paramfos are from the Murugappa stable. The organization fosters an environment of professionalism and has a workforce of over 32,000 employees.