History

The Murugappa Group

A 126-year-old conglomerate with presence across India and the world, the INR 1,056 billion (₹105,582 crore) Murugappa Group has diverse businesses in agriculture, engineering, financial services and more. The Group has 10 listed companies: Carborundum Universal Limited, CG Power & Industrial Solutions Limited, Cholamandalam Financial Holdings Limited, Cholamandalam Investment & Finance Company Limited, Coromandel International Limited, E.I.D.-Parry (India) Limited, NACL Industries Limited, Shanthi Gears Limited, Tube Investments of India Limited, and Wendt (India) Limited. Other major companies include Cholamandalam MS General Insurance Company Limited and Parry Agro Industries Limited. Brands such as Ajax, Hercules, BSA, Montra, Montra Electric, Mach City, Chola, Chola MS, CG Power, CG Semi, Shanthi Gears, CUMI, Gromor, Paramfos, Parry’s are part of the Group’s illustrious stable. Abrasives, technical ceramics, electrominerals, electric vehicles, auto components, fans, transformers, signalling equipment for railways, bicycles, fertilisers, sugar, tea, and several other products make up the Group’s business interests. Guided by the Five lights — integrity, passion, quality, respect, and responsibility — and a culture of professionalism, the Group has a workforce of 1,06,224 employees.

The TII Heritage

The Group traces its origins to 1898, when Dewan Bahadur A M Murugappa Chettiar went as an apprentice to Burma (now Myanmar). Quick to learn financial skills and Burmese, he realized he was destined to greater achievements; he founded a firm in Moulmein, a large port-city in Lower Burma. This grew into a prosperous family-owned business, with interests in Banking, Rubber and Trade, covering Malaya (Malaysia), Ceylon (Sri Lanka), Indonesia and Vietnam. The outbreak of the World War II and subsequent political upheavals in the region cut short the firm’s growth. While a good portion of its hard earned fortunes were lost, the family had the foresight to move significant assets to India; this financial prudence ensured that the business would rebound after the disaster. And rebound it did.