Murugappa Group eyes double-digit growth in FY20, plans Rs 1,300 cr capex

Group is going ahead with expansion despite challenges faced in its main businesses such as fertilizer, sugar, engineering and financial services

Despite uncertainities around its key businesses, the Murugappa Group has said it would invest around Rs 1,250-1,300 crore in 2019-20 as it hopes things would turn around and will look at double digit growth.

The Group posted 18 per cent growth in overall PAT to Rs 2,880 crore in 2018-19 and expect to sustain.

Murugappa Group's Executive Chairman M M Murugappan said that it was a good year for the Group despite the fact that some of the main businesses including fertilizer, sugar, engineering and financial services have faced challenges.

"India will continue to grow and I am quite optimistic. We are a