Murugappa Group firm Tube Investments of India Ltd on Thursday said it will acquire a 67 per cent equity stake in the Indian arm of South Korea's KC Altech Co Ltd for Rs 62 crore. The company has executed a definitive agreement for subscription of a 67 per cent equity stake in Kcaltech System India Pvt Ltd (KCAL India), a subsidiary of KC Altech Co Ltd, the Tube Investments of India (TII) said in a statement. "This strategic acquisition will enable TII to strengthen its position in the growing automotive sector, particularly in the domain of aluminium tubes and parts used in heating, ventilation, and air conditioning (HVAC) systems for automobiles," it added. The proposed investment will support KCAL India's expansion plans, including increasing its manufacturing capabilities, the company added. The acquisition will be carried out "by way of subscription to fresh equity shares for a consideration of about Rs 62 crore", TII said in a regulatory filing. The acquisition is expected t
Tube Investments proposes to acquire 2,24,08,313 equity shares of Kcaltech representing 67 per cent of its equity share capital
Murugappa group firm Tube Investments of India Ltd on Monday reported a 13.6 per cent decline in consolidated net profit at Rs 299.17 crore in the September 2024 quarter, hit by higher expenses. The company posted a consolidated net profit of Rs 346.19 crore in the same quarter last fiscal, Tube Investments of India Ltd (TIIL) said in a regulatory filing. Consolidated revenue from operations in the quarter under review stood at Rs 4,782.51 crore compared to Rs 4,169.26 crore in the year-ago period, it added. Total expenses in the second quarter were higher at Rs 4,569.19 crore against Rs 3,868.46 crore a year ago. On a standalone basis, revenue in Q2 stood at Rs 2,065 crore from Rs 1,970 crore in the same period of the previous year, it said. In the second quarter, the engineering division clocked a revenue of Rs 1,323 crore compared to Rs 1,274 crore in the corresponding period in the preceding fiscal. Metal-formed products revenue was higher at Rs 404 crore, up from Rs 400 cror
Tube Investments of India Ltd has reported a rise in its consolidated profit after tax for the April-June 2024 quarter, which stands at Rs 313.65 crore, the company said on Thursday. The city-based company, part of the Murugappa Group, had registered a profit after tax of Rs 277.51 crore in the same period a year ago. For the year ending March 31, 2024, the consolidated profit after tax stood at Rs 1,682.83 crore. The consolidated total income during the quarter under review grew to Rs 4,642.66 crore, as compared to Rs 3,946.14 crore recorded year ago. For the year ending March 31, 2024, the consolidated total income stood at Rs 17,142.04 crore. In a statement, the company said the revenue of the engineering business during the quarter under review grew to Rs 1,265 crore as compared to Rs 1,142 crore in the corresponding quarter last year. The company's metal formed products business registered a revenue of Rs 358 crore during the June quarter, compared to Rs 342 crore in the ...
The surge in stock price came after TII, along with Tl Clean Mobility Private Limited (TICMPL), entered into a Rs 160-crore pact with South Asia Growth Invest III LLC and South Asia EBT Trust III
Tube Investments of India Ltd has reported a standalone profit after tax for the January-March 2024 quarter at Rs 247.88 crore, the company said on Tuesday. The city-based company, part of the diversified conglomerate Murugappa Group, had registered a standalone profit after tax at Rs 250.71 crore during the corresponding quarter of last year. For the financial year ending March 31, 2024 the standalone PAT surged to Rs 734.51 crore, from Rs 665.20 crore registered in the same period of last year. The total income, on a standalone basis, during the quarter under review grew to Rs 2,107.57 crore, from Rs 1,835.02 crore registered in the same quarter of last year. For the financial year ending March 31, 2024 the standalone total income grew to Rs 7,826.98 crore, from Rs 7,451.17 crore registered year ago. The Board of Directors have declared an interim dividend of Rs 2 per share in February 2024 and it was paid to shareholders in March 2024. The Board has now recommended a final divid
As per an affidavit filed with the Election Commission of India, Rahul Gandhi's top stock holdings include Pidilite Industries, Bajaj Finance, Nestle, ITC, Hindustan Unilever and Tube Investments.
Subbiah will represent India at the EY World Entrepreneur of the Year Award in Monte Carlo from 4-7 June 2024
Tube Investments of India Ltd has recorded over 111.9 per cent jump on its profit for the fourth quarter ending March 31, 2023 at Rs 477.40 crore. The city-based Murugappa Group firm had registered consolidated net at Rs 225.22 crore registered in the corresponding period of last year. For the year ending March 31, 2023 the consolidated profit surged to Rs 1,325.06 crore from Rs 991.04 crore recorded a year ago. The consolidated total income during the quarter under review went up to Rs 3,823.42 crore from Rs 3,425.19 crore registered in the corresponding quarter of last year. For the year ending March 31, 2023 the consolidated total income rose to Rs 15,107.98 crore from Rs 12,551.87 crore registered a year ago. Commenting on the financial performance, company chairman M A M Arunachalam said, "Engineering and metal formed products businesses continued their good performance in the fourth quarter as well." "The bicycle industry continues to suffer from contraction in demand and o
Company's net profit in FY23 increases 24% at Rs 956 cr from Rs 769 cr in FY22
Tube Investments board approved long-term borrowing up to Rs 300 crore to meet the company's fund requirements for FY23-24
Tube Investment India's wholly-owned subsidiary TI Clean Mobility (TICM) will raise Rs 3,000 crore by March 2024 to fuel its electric vehicle business, a release said on Saturday. Of this, TII (Tube Investment India) has already invested Rs 639 crore, the company said in a statement. TICM is focused on manufacturing and marketing of electric three-wheelers. It is also into the manufacturing and marketing of e-tractors an electric heavy commercial vehicles through its subsidiaries. "TI Clean Mobility has signed definitive documents with TII, Multiples Private Equity Fund III, State Bank of India along with other co-investors to raise capital up to Rs 1,950 crore in the form of equity and compulsorily converted preferential shares (CCPS). "The total investment by Multiples, SBI and other co-investors would aggregate up to Rs 1,200 crore," it said in the statement. Investment by TII will be to the tune of Rs 750 crore, of which it has already invested Rs 639 crore by way of equity an
Acquirer was already holding 69.96% of Cellestial. On Friday, it signed a deal to buy the balance 30.04% for Rs 50.90 cr
The acquisition would be by subscribing to 10,753 equity shares for a total consideration of Rs 6.15 crore
These stocks will witness inflows between $165 million and $255 million from passive trackers, analysts said
Varun Beverages, Tube Investments, IHCL seen as potential inclusions
Tube Investments of India of the diversified conglomerate Murugappa Group has reported a standalone profit after tax (PAT) at Rs 142.46 crore for the July-August 2022 quarter, the company said on Friday. The company registered standalone PAT at Rs 121.42 crore during the corresponding quarter last year. For the half-year ending September 30, 2022 the standalone PAT grew to Rs 276.78 crore from Rs 218.38 crore the corresponding period last year. The standalone total revenue from operations grew to Rs 1,920.32 crore from Rs 1,676.35 crore. For the six-month period, the standalone total revenue went up to Rs 3,889.36 crore from Rs 2,943.99 crore. The engineering business reported revenues of Rs 1,192 crore during the quarter ending September 2022 as compared to Rs 1,207 crore last year. Revenue from the metal formed products was at Rs 371 crore as against Rs 328 crore. The mobility division registered revenues of Rs 226 crore during the quarter under review as compared to Rs 262 cr
Launch is part of the group's strategy to focus aggressively on EVs, with e-3W under the brand Montra Electric, electric tractors under Cellestial Egat, electric HCVs under Rhino 5536 brand
The company said in a statement that it has identified electronic products and components as a growth sector
The deal would be done through a combination of primary and secondary purchases of shares