Consolidated Operating PBT improved
Bengaluru, 29 January 2015: The Board of Directors met today and approved the results for the quarter ended 31st Dec 2014.
Consolidated Q3 financial performance
Consolidated net sales dropped by 3.7% to 497 crores from
516 crores, on a quarter on quarter basis. PBT (excluding exceptional income) increased by 89% from
21 crores in last year similar quarter to
39 crores in the current quarter.
On a sequential basis, net sales dropped by 8.1% but PBT gained by 32.2% respectively.
The drop in sales on quarter on quarter basis and sequential basis were largely impacted owing to the weak Rouble.
Profitability of all divisions improved compared to similar quarter last year. However on a sequential basis, there was pressure in Abrasives and Ceramics business.
Earnings before interest, depreciation and amortization (EBITDA) recorded an increase of 40.5% (i.e. from 50 crores in corresponding quarter last year to
71 crores current quarter).
Consolidated Segmental Operating Performance
Abrasives
Sales of the abrasives business on a consolidated basis was constant at 213 cr. On a sequential basis, this was a drop of 8%.
Profit before interest and tax on a consolidated basis recorded a gain of 47% i.e. from 9 crores to
13 crores, on a quarter on quarter basis. On a sequential basis, this was a drop of 32%.
Electro Minerals
At a consolidated level, the net sales for Q3 were lower at 172 crores versus
204 crores for the corresponding quarter last year. This was a drop of 16%. On a sequential basis, this was a drop of 12%. The drop was due to weak Rouble.
Profit before interest and tax on a consolidated basis recorded an increase, from 15.8 crores to
17.9 cr, on a quarter on quarter basis. The business challenges in South African entities are being addressed.
Ceramics
The ceramics segment recorded an 11% increase in sales on a consolidated basis (124 crores vs
112 crores corresponding quarter last year). On a sequential basis, this was a drop of 1%.
Last year similar quarter the sales volumes from CUMI India were low owing to postponement in project orders. The situation has comparatively improved. Australian entity had a better performance.
Profit before interest and tax of the ceramics business on a consolidated basis recorded a gain from 12 crores to
19 crores, on a quarter on quarter basis.
Interim Dividend
The Board of Directors of the Company at its meeting held on January 29, 2015 has recommended an interim dividend of 0.75/- per share (75%) to the shareholders of the Company.
About Murugappa Group
Founded in 1900, the INR 243 Billion Murugappa Group is one of India’s leading business conglomerates. The Group has 28 businesses including ten 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., Sabero Organics Ltd., Shanthi Gears Ltd., Tube Investments of India Ltd., and Wendt (India) Ltd.
Market leaders in served segments including Abrasives, Auto Components, Transmission systems, Cycles, Sugar, Farm Inputs, Fertilisers, Plantations, Bio-products and Nutraceuticals, the Group has forged strong alliances with leading international companies like Groupe Chimique Tunisien, Foskor, Mitsui Sumitomo, Morgan Advanced Materials, Sociedad Química y Minera de Chile (SQM), Yanmar & Co. and and Compagnie Des Phosphat De Gafsa (CPG). The Group has a wide geographical presence all over India and spanning 6 continents.
Renowned brands like BSA, Hercules, Ballmaster, Ajax, Parry’s, Chola, Gromor, Shanthi Gears and Paramfos are from the Murugappa stable. The organization fosters an environment of professionalism and has a workforce of over 32,000 employees.
Caution Notice
The public is hereby cautioned that it has been brought to our notice that certain unscrupulous persons/agencies are issuing fake sanction letters to customers and getting their signatures in fake loan agreements purporting to be a loan sanction letter & loan agreement of Murugappa Group and such persons /agencies are attempting to extort money by demanding security deposit/processing fee/insurance fee from the gullible customers for processing the required loan etc. In the aforesaid documents, those unscrupulous persons/agencies are also using the registered logo and name of Murugappa Group against law with intent to gain wrongfully by using the goodwill and reputation of the Group.
Please be informed that Murugappa Group is not a separate legal entity and never requires any customers to pay any advance money or deposit for loan sanctioning. Public is cautioned not to rely or act on any such fraudulent sanction/offer made in the name of Murugappa Group without verifying the authenticity of the contents.
Customers who are interested in availing loans may directly contact any of the nearest branch of Cholamandalam Investment and Finance Company Limited (Cholamandalam) a constituent of our group for further details or get in touch with us at 1800 200 4565 or alternatively email at customercare@chola.murugappa.com, or SMS at 9500000312.
MURUGAPPA GROUP