Latest News | BIZ-Murugappa Group Murugappa Group Sees Rise in PAT

Chennai, Sep 6 (PTI): Diversified business conglomerate Murugappa Group on Monday said it has recorded a 52.7 per cent growth in profit after tax (PAT) for the year ending March 31, 2021.

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It made Rs 4,500 crore as against Rs 2,946 crore in the corresponding period last year, a statement from the group said here.

The company registered a 9.5 per cent growth in the turnover at Rs 41,713 crore in 2020-21 compared to Rs 38,105 crore recorded in the same period last fiscal.

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Earnings before interest, taxes, depreciation and amortisation (EBITDA) posted a 20.4 per cent growth at Rs 6,440 crore from Rs 5,347 crore last fiscal.

During the year, Tube Investments of India acquired a stake of 53.16 per cent in CG Power and Industrial Solutions Ltd. The consolidated turnover of the group includes that of CG Power during December 2020-March 2021.

This financial year, EID Parry sold 4 per cent stake in its subsidiary Coromandel International Ltd for an aggregate value of Rs 835 crore. The proceeds from the sale were used for reduction of debt, the statement said.

The aggregate capital expenditure programme towards expansion, de-bottlenecking, digital infrastructure across the group companies was approximately Rs 445 crore as against Rs 1,009 crore last year.

Capital expenditure was low on account of the challenges due to Covid-19 outbreak, the statement said.

Market capitalisation (of the 10 listed companies) aggregates to Rs 1,28,707 crore as of March 31, 2021 compared to Rs 46,683 crore (for nine listed companies) last year, it said.

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