 "Murugappa")
The Murugappa Group has posted a 24 per cent rise in net profit to Rs 6,846 crore in 2022-23, as compared to Rs 5,520 crore in 2021-22.
The group registered a growth of 35.8 per cent in turnover during the year to Rs 74,220 crore compared to Rs 54,648 crore in 2021-22. Earnings before Interest, taxes, depreciation and amortization (EBITDA) also posted a growth of 24.9 per cent to Rs 10,424 crore against Rs 8,343 crore a year ago.
Among the group companies, Coromandel International is the largest with a consolidated net sales of Rs 29,587 crore, compared to Rs 19,068 crore in 2021-22. Profit before depreciation, interest, taxes, and exceptional item (EBIDTA) was Rs 3,073 crore, registering a growth of 34 per cent over the previous year’s Rs 2,298 crore and profit after tax was Rs 2,013 crore, up 32 per cent from Rs 1,528 crore a year ago.
For FY 2022-23, Tube Investments of India Limited (TII) posted a profit before tax of around Rs 1,593 crore as against Rs 1,111 crore in the previous year. TII recorded a topline growth of Rs 14,431 crore during the year, as against Rs 11,983 crore in the previous year.
Carborundum Universal’s (CUMI) consolidated sales for the full year, increased by 40 per cent to Rs 4,601 crore from Rs 3,290 crore. Profit after tax and non-controlling interest grew by 24 per cent to Rs 414 crore against Rs 333 crore in the previous year. Cholamandalam MS General Insurance Company (Chola MS) net profit, excluding provision reversal, was Rs 193 crore in 2022-23 as against Rs 63 crore in the previous year. EID Parry’s net sales fell 28 per cent to Rs 5,584 crore.
