The Gold and Beyond...a Collection of the Gems

Not many would have missed this sight on Indian streets. The unicycle with a grinding wheel attached to the other end, spewing embers as the man goes on pedalling to sharpen your knives, sabers and sickles each at 'aat anna'. The grinding wheel of CUMI has rolled a long way though the mobile sharpener is almost invisible these days. From a turnover of Rs 5 lakh to Rs 314 crore in 50 years, CUMI has morphed into a speciality metallurgy business. While emphatically driving home the point that manufacturing industry has been at the core of development of Indian Industry, Seshasayee, CMD, Ashok Leyland described CUMI as "An orthodox company making orthodox products." Besides being a "correct and quite company", customer orientation has always been the core of CUMI's philosophy. The Golden Jubilee celebrations of CUMI turned out to be a testimony for the company's commitment to this belief.

Business have been born and have gone into oblivion. International Rating Agency Standard and Poors hav proved that there are few companies in the world which have stood the grind of time for over a 50-year period. There are a few companies in the world who have the special skill to stay in business that are long and profitable - CUMI is a "virtual story of sand to gold." Not so golden and not so silver haired doyens of this industry who had served this company were material to achieving this unique distinction.

CUMI has consistently declared divident to it's shareholders throughout 50 years. "I see the same values" exclaimed Dr.J J Irani, Director, TATA Sons, which are similar to the TATA Group, when it comes to veneration of stakeholder interests. M V Murugappan's opening speech was a special thanksgiving to all those who were material in scripting CUMI's success from the days of Ajax. For a moment any gen X geek would have wondered - "Is this company competing with the software companies of the world in the HR space?"

"He introduced himself and spent at least half an hour in introducing the group and its businesses." Ramesh Agrawal fondly recalled his first interaction with late M V Arunachalam. Befitting, it seems, as the takeover of Wendt India was the first hostile takeover for the Indian industry. M M Murugappan's speech reiterates the quite dignity of CUMI and the group's values laced with some mild repartee which reflected his good sense of humour. Some among us heard. Venu Srinivasan, CMD of TVS Motors, on his way out of the hall, reaching out to M M Venkatachalam saying,"Your brother spoke well."

So what was the take away for the day? "I would call TATA's as the Murugappas of the West" said none other than Dr. J J Irani." Though one would dismiss it as stating the obvious, it was a glorious yet fitting tribute to CUMI and the group as a whole.