The Board of Directors of Tube Investments of India Limited (TII), formerly known as TI Financial Holdings Limited met today and approved the financial results for the Quarter ended 31st December 2017. The Board declared an Interim Dividend of Rs. 1.25 per share (125%) for the financial year 2017-18.
Standalone Results
TII’s Revenue for the quarter was higher by 21% at Rs. 1173 Cr. as against Rs. 973 Cr. (net of excise duty) in the corresponding quarter of the previous year. The PAT for the quarter was higher by 28% at Rs. 35 Cr. as compared to Rs. 27 Cr. in the corresponding quarter of the previous year.
Mr. L. Ramkumar, Managing Director said, “During the quarter, bicycle market was sluggish but the Auto industry registered good growth in two wheeler and passenger vehicles segment. The profit before tax for the quarter was at Rs. 50 Cr. as against Rs. 38 Cr. in the corresponding quarter of the previous year.”
Review of Businesses
Cycles and Accessories
This division has registered revenue growth (net of excise duty) of 6% during the quarter compared with corresponding quarter in the previous year. Loss before interest and tax for the quarter was Rs. 3 Cr. as against the Profit before interest and tax of Rs. 1 Cr. in the corresponding quarter of the previous year. Despite increase in revenue in the institutional sales segment, drop in revenue in trade segment due to slow down in the industry, has affected the profitability.
Engineering
This division has registered volume growth of 26% in precision tubes and 10% in Strips during the quarter compared with corresponding quarter in the previous year. This division has registered revenue growth (net of excise duty) of 35% during the quarter and Profit before interest and tax for the quarter was Rs. 48 Cr. as against Rs. 37 Cr. in the corresponding quarter of the previous year.
Metal Formed Products
In this segment, the doorframes segment volume grew by 5% during the quarter compared with the corresponding quarter last year. The sale of Auto Chains and Industrial Chains recorded a volume growth of 22% and 17% respectively over the corresponding quarter last year. This division has registered revenue growth (net of excise duty) of 14% during the quarter compared with corresponding quarter in the previous
year. Profit before interest and tax for the quarter was Rs. 29 Cr. as against Rs. 21 Cr. in the corresponding quarter of the previous year.
Consolidated Results
TII’s consolidated Revenue for the quarter was higher by 20% at Rs. 1274 Cr. as against Rs. 1066 Cr. (net of excise duty) in the corresponding quarter of the previous year. The profit after tax for the quarter was up by 9%, at Rs. 34 Cr. as against Rs. 29 Cr. in the corresponding quarter of the previous year.
Shanthi Gears Ltd., a subsidiary company in the Gears Business, in which Company holds 70.12% stake, registered a revenue growth of 18% for the quarter ended 31st December 2017, compared with the corresponding quarter of previous year. The revenue for the quarter was Rs. 54 Cr. as against Rs. 46 Cr. (net of excise duty) and Profit after tax for the quarter was at Rs. 7 Cr. as against Rs. 5 Cr. in the corresponding quarter of previous year.
About the Murugappa Group
Founded in 1900, the INR 329 Billion 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., TI Financial Holdings 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 such as Groupe Chimique Tunisien, Foskor, Mitsui Sumitomo, Morgan Advanced Materials, Sociedad Química y Minera de Chile (SQM),Yanmar & Co. 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, Montra, Mach City, Ballmaster, Ajax, Parry’s, Chola, Gromor, Shanthi Gears and Paramfos are from the Murugappa stable. The Group fosters an environment of professionalism and has a workforce of over 32,000 employees. For more details, visit www.murugappa.com.
For Further Information, please contact:
Sandhya Subramanian
Murugappa Group
+91-95000 72458
sandhyas@corp.murugappa.com
Vinod Kumar
Ogilvy PR
+91-9840126179
vinod.kumar@ogilvy.com
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