Murugappa Group plans Rs 250 cr capex in this fiscal
The investment will mainly focus on its engineering business and systems & process
BS B2B Bureau B2B Connect | Chennai
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Murugappa Group’s office
M M Murugappan, vice chairman of the group, said the Rs 95-crore bicycle plant at Punjab would go on stream early next fiscal. During the first phase, the plant, which will cater to the domestic market, will have a capacity of about 1.5 million units a year. Currently, the company has three plants in Chennai, Nashik and Noida with 1.5 million units capacity each.
Besides the cycle business, the company will also invest in financial services in its Hosur plant and other areas.
Meanwhile, Murugappa Group has reported 11 per cent growth in overall revenues to Rs 26,926 crore in 2014-15 as compared with Rs 24,350 crore, a year ago. Profit has increased to Rs 1,283 crore in 2014-15 as compared to Rs 971 crore in 2013-14.
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First Published: Jun 12 2015 | 6:26 PM IST