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 at
26 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.
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