MURUGAPPA HOLDINGS LTD

Standalone Results for the Quarter:

Revenue in Q3 was at Rs.1,701 Cr compared with Rs.1,309 Cr of same period previous year. PBT was of Rs.161 Cr as against Rs.145 Cr in the same period previous year. ROIC (annualized) at 49.6% for the quarter ended 31st December 2021 compared with 51.7% in the previous year same period. Free Cash Flow (FCF) for the quarter was Rs.172 Cr with improved NWC levels from Q2 FY22.

Review of Businesses

TII’s revenue for the quarter was at Rs.1,701 Cr as against Rs.1,309 Cr in the corresponding quarter of the previous year. The profit after tax for the quarter was at Rs.120 Cr as against Rs.107 Cr in the corresponding quarter of the previous year.

Engineering

The Revenue for the quarter was at Rs.996 Cr compared with Rs.733 Cr in the corresponding quarter of the previous year. Profit before interest and tax for the quarter was Rs.87 Cr as against Rs.102 Cr in the corresponding quarter of the previous year, primarily due to higher fixed costs incurred towards special maintenance expenditure and plant layout changes.

Metal Formed Products

The Revenue for the quarter was at Rs.330 Cr compared with Rs.315 Cr in the corresponding quarter of the previous year. Profit before interest and tax for the quarter was lower at Rs.32 Cr as against Rs.38 Cr in the corresponding quarter of the previous year due to lower volumes in railways and door frames.

Mobility

The division has registered revenue of Rs.280 Cr during the quarter compared with Rs.234 Cr in the corresponding quarter of the previous year. Profit before interest and tax for the quarter was flat at Rs.15 Cr, compared to Rs.15 Cr in the corresponding quarter of the previous year owing to higher 3W EV preoperative costs.

About Murugappa Group

Founded in 1900, the INR 417 Billion (41,713 Crores) Murugappa Group is one of India’s leading business conglomerates. The Group has 29 businesses including ten listed Companies traded in NSE & BSE. Headquartered in Chennai, the major Companies of the Group include Carborundum Universal Ltd., CG Power and Industrial Solutions Ltd., Cholamandalam Financial Holdings 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. The Group holds leadership position in several product lines including Abrasives, Technical Ceramics, Electro Minerals, Auto Components & Systems, Bicycles, Fertilisers, Sugar, Tea and Spirulina (Nutraceuticals). The Group has forged strong alliances with leading international companies such as Groupe Chimique Tunisien, Foskor, Mitsui Sumitomo, Morgan Advanced Materials, 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 53,000 employees.