Murugappa to invest Rs 1300 crore in current fiscal
Murugappa Group of Companies will invest Rs 1,300 crore in the current fiscal for the expansion of various companies of the group.
By PTI |
CHENNAI: Murugappa Group of Companies will invest Rs 1,300 crore in the current fiscal for the expansion of various companies of the group.
EID Parry would get the lions share of Rs 350 crore for capacity expansion followed by a distillery unit, coming up at Sivaganga, at a cost of Rs 250 crore, Murugappa Group Vice Chairman and Director (Strategy) A Vellayan told reporters here today.
He said while the group's blue chip company Carborundum Universal Limited (CUMI) had an Earnings Before Interest, Taxes, Depreciation and Amortization (EBIDTA) of Rs 162 crore, which was 23 per cent more compared to last year, the Coromandel Fertilisers Limited (CFL) had an EBIDTA of Rs 456 crores, 36 per cent more compared to last year's.
Vellayan said to cater to the growing power sector, the CUMI would set up a plant at the cost of Rs 50 crore to manufacture metallised cylinders.
He said while CFL would expand its retail chain stores, the EID Parry was planning significant investment in the area of sugar, agro products, nutraceuticals and bio products over the course of this year.
EID Parry would get the lions share of Rs 350 crore for capacity expansion followed by a distillery unit, coming up at Sivaganga, at a cost of Rs 250 crore, Murugappa Group Vice Chairman and Director (Strategy) A Vellayan told reporters here today.
He said while the group's blue chip company Carborundum Universal Limited (CUMI) had an Earnings Before Interest, Taxes, Depreciation and Amortization (EBIDTA) of Rs 162 crore, which was 23 per cent more compared to last year, the Coromandel Fertilisers Limited (CFL) had an EBIDTA of Rs 456 crores, 36 per cent more compared to last year's.
Vellayan said to cater to the growing power sector, the CUMI would set up a plant at the cost of Rs 50 crore to manufacture metallised cylinders.
He said while CFL would expand its retail chain stores, the EID Parry was planning significant investment in the area of sugar, agro products, nutraceuticals and bio products over the course of this year.
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