Murugappa Group registers an impressive growth of 13% in turnover; EBITDA of ₹4,663Cr, a 14% growth; PBT grows 18%; Market Capitalization surges to $10 billion

Chennai May 17, 2018: Murugappa Group registers a growth of 13% in turnover at₹ 32,893Crores during 2017-18 (last year ₹ 29,206Crores). Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) posted a growth of 14%, at ₹4,663Crores (last year ₹ 4,075Crores). Profit before Tax (inclextra ordinary items)were ₹3,562Crores (last year ₹ 3,013Crores) registering a growth of 18%.

A: Company-wise Performance:

Figures in ₹ Crores

Note: Previous year’s numbers have been re-grouped, wherever necessary

B: Market Capitalization

Market Capitalization of the listed companies of the group aggregates to $10 billion (Rs. 67,117 Cr) as of 31st Mar 2018. 

C: Corporate Initiatives 

1. Coromandel International Limited acquired Bio business from EID Parry India Limited w.e.f 1^st Apr 2018 to expand into bio-stimulants and microbials. 

2. EID Parry(India) Limited has signed an agreement with Cochin based Synthite Industries to set up a 50:50 joint venture for manufacturing value added algae product, Phycocyanin, a natural blue pigment extracted from Spirulina for application in a variety of foods and beverages.

3. Tube Investments of India Limited(TII) has demerged its manufacturing and financial services operations into two entities namely, Tube Investments of India Limited and TI Financial Holdings Limited in Aug 2017 with appointed date for the scheme as 1^stApr 2016. 

4. Tube Investments of India Limited (TII)hasacquiredcontrolling stake in Creative Cycles & Great Cycles, Sri Lanka, to strengthen and expand the global supply chain for the premium cycles portfolio.

5. Cholamandalam MS General Insurance Company Limitedraised₹ 100 Cr of Tier II capital to fund growth by strengthening the Company’s solvency. 

D: Capital Expenditure

Aggregate capital expenditure programmes towardsexpansion/ debottlenecking / modernising facilities across group companies were over ₹ 600Croresduring the year. 

E: Sector highlights for 2017-18 

Financial Services Businesses 

Cholamandalam Investment and Finance Company Limited (CIFCL) 

CIFCL’s Assets under Management (AUM) registered a growth of 25% to ₹ 42,879 Crores during FY2017-18. The aggregate disbursements for FY 2017-18 is at ₹ 25,114 Crores,a growth of 35% led by stellar performance in Vehicle Finance business division, registered a 42% growth over previous year. Home Equity disbursements grew up by 4% in FY2017-18.

Due to effective credit management and collections, CIFCL’s overall Gross Non-Performing Assets (GNPA) has reduced to 2.94% in FY 2017-18 from 4.66% in previous year. Profit after tax for FY 2017-18stoodat ₹ 974 Crores registering a growth of 36% year-on-year.

Capital adequacy Ratio (CAR) was at 18.40% against the regulatory requirement of 15%. Tier I capital is at 13.3% against regulatory requirement of 10%.

The company operates from 873 branches across India. 

Cholamandalam MS General Insurance Company Limited (Chola)

Chola’sGross Written Premium recorded a growth of 31% during FY2017-18 to ₹ 4,103 Crores. Combined Ratio (CoR) has improved to 100.79% in FY 2017-18 from 101.25% in the previous year. Profit before tax grew up by 17%to ₹ 347 Crores.

Retail has been the dominant growth strategy with Motor, Health and Crop insurance contributing over 80% of the premiums with a good mix across Metros and Non Metros.

Investment income during the year was ₹489 Crores; Investment book size as of end March 2018 was over ₹ 6,300 Crores.

The company operates from 90 branches across India. 

Engineering Businesses 

Carborundum Universal Limited (CUMI)

CUMI reported an increase in consolidated net sales by 12% to ₹ 2,330 Crores in FY 2017-18driven by better performance from all major segments. On a consolidated basisprofit after taxincreased to ₹ 220Crores from ₹ 184Crores. 

Abrasives

The division registered a growth of 9%. The net sales for FY 2017-18 were ₹ 1,018 Crores compared to ₹ 938 Crores in the previous year. The Indian operations delivered good growth on account of higher volumes. Aided by buoyancy in revenues and cost reduction projects and others initiatives, Profit before interest and tax (PBIT) for the year FY 2017-18increased to ₹ 132 Crores from ₹ 113 Crores in the previous year.

Electro minerals

The division registered a growth of 18%. The net sales for FY 2017-18were ₹ 883 Crores compared to ₹ 749 Crores in the previous year. Both Russian and Indian businesses exhibited improved performance. The profit before interest and tax (PBIT) increased to ₹ 127 Crores in FY 2017-18 from ₹ 91 Crores in the previous year. 

Ceramics

The division registered a growth of 11%. The net sales for FY 2017-18were ₹502 Crores compared to ₹ 451 Croresin the previous year. Profit before interest and tax increased (PBIT) to ₹ 76 Crores from ₹ 70 Crores, driven by higher volumes in both standalone and overseas operations. 

Tube Investments of India Limited (TII)

For FY 2017-18, TII’s consolidated net sales were higher by 11% at ₹4,789 Crores.Profit after tax for the year was ₹156 Crores as against ₹ 174 Crores in the previous year.

Engineering

The division has registered a net sales growth of 24% during the year and Profit before interest and tax (PBIT) for the year was Rs 175 Crores as against Rs146 Crores in the previous yearregistering a growth of 20%.In domestic tubes, TII continue to improve its market share through better quality and service. The sales of Large Diameter Tubes recorded healthy growth.

Cycles and Accessories

Net sales of the division for the year dropped by 3%. Profit before interest and tax (PBIT) for the year was ₹ 0.33 Crores as against ₹ 36 Crores in the previous year. The Market condition of the Bicycles segment continues to be challenging. Trade volumes across product segments have declined during last year. The division’s sales in Institution segment grew up marginally. Premium Cycles Segment grew by 29%. This division continues to pursue aggressive cost reduction measures to mitigate the drop in volumes. 

Metal Formed Products

Net sales of this division, with a product range of doorframes, chains and fine blanking products catering to Auto sector, registered a growth of 11% during the year and Profit before interest and tax (PBIT) for the year was ₹ 102 Crores as against ₹ 88 Crores in the previous year, registering a growth of 16%. 

Shanthi Gears Limited

Shanthi Gears Ltd., a subsidiary company of TII operating in the Industrial Gears Business, registered a net salesgrowth of 16% for the year. The net sales for the year were ₹ 214 Crores as against ₹184 Crores in the previous year. Profit after tax (PAT) for the year was at ₹ 29 Crores as against ₹ 23 Crores in the previous year, registering a growth of 27%.

Agri-businesses 

Coromandel International Limited (CIL)

Coromandel International Limited registered a growth of 9% and consolidated net sales stood at ₹ 10,891 Crores.The business has shown an all-round improvement in the performance by increasing its sales and higher capacity utilization, resulting in operational efficiencies. In the Nutrient segment, business has increased its share in the key addressable markets.

Consolidated Profit after tax for year ended March 2018 is ₹664Crores as against previous year of ₹477Crores registering a growth of 39%. 

E.I.D.-Parry (India) Limited(EID)

E.I.D. Parry (India) Limited reported a consolidated net sales,excluding the Coromandel International Limited, of ₹ 4,569 Crores in FY 2017-18, registering a growth of 5%.The performance of the company has been impacted due to depressed sugar prices on account of higher sugar production in the country than previous sugar season.

The Company has made a one-time settlement of additional cane price of ₹ 87 Crores for Sugar years 2013-14 to 2016-17 which has been agreed with farmer registered with the company in Tamil Nadu. Profit after tax (PAT) for the year 2017-18 was ₹28Crores against ₹ 302 Crores in the previous year. 

Other Businesses

This business group predominantly consists of Plantations, Floor Covering / Home Textiles, Technical Textiles / Shade Nets and construction. The net sales of this business group were recorded at ₹710 Crores registering a growth of 10%. Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) were recorded at ₹ 208 Crores registering a growth of 39%.

1. HR Updates
   

• In the most recent edition of the Group-wide Employee Engagement Survey, a 17% increase in the Engagement score over the previous survey was recorded, demonstrating the effectiveness of the various initiatives the Group has been taking in this area. 84% of employees, which included both management and non-management staff, participated in the survey from across 1200 locations.

• During the year, 22 young leaders graduated from the Young Leaders Programme (A customized course for high potential managers under 35 years). The course included modules on Leadership & Managerial effectiveness; Business Etiquette & Executive Presence. A batch of 23 senior managers with P&L and functional responsibilities commenced the Murugappa Leadership Programme, which includes classroom courses and outbound modules. Both programs are offered in partnership with IIM-Ahmedabad

• The Fitness, Health and Happiness campaign was started in the year 2014, a unique 72 day wellness plan cum contest. Over the last 4 years, 14,000+ employees have benefitted from this programme across the Group

• In addition to the programs that encourage and facilitate physical wellness, the Group’s employees across the country have now been provided easy access to confidential counseling services through an Employee Assistance Program (EAP). The service is open to employees’ families as well to seek support when faced with stressful situations in their personal or professional life

• Pride of Murugappa – The Best Practices sharing platform of the Murugappa Group is an annual event encouraging employees to share with one and other the best practices in their businesses. In the year 2017, a record number of 2000+ entries were received with over 3600 participants.

• Chola MS General Insurance in association with Manipal Global Education Services (MAGE) set up the Chola Insurance Academy, which provides a 1 year Post Graduate Diploma in General Insurance. The first batch of students are set to graduate in the next few months and will be placed with Chola’s insurance business.

• Chola Investments and Finance Company Limited partnered with Finitiatives Learning India Pvt. Ltd (FLIP), ICICI Skills academy & TVS training Institute to recruit over 300 trained resources in a span of 4 months in FY 17 – 18 across South, North & East zones 

1. Corporate Social Responsibility 

• As part of the on-going corporate social responsibility initiatives, the Group has continued its contribution to various projects through the AMM Foundation and Shri AMM MurugappaChettiar Research Centre (MCRC).
• In its fourth year, the AMM MurugappaChettiar Centenary Scholarships (Full Fee), the Foundation has supported 141 Murugappa scholars. These scholars are pursuing Medical (22), Engineering (78), Arts and Science & commerce (31) and Agriculture (10) courses.

• The Foundation has supported the education of 121 most-deserving economically backward students through the AMM MurugappaChettiar Centenary Scholarship (General).

• Over the past year, the hospitals run by the AMM Foundation have reached out to over 8 lakh people through their outpatient services, and 12,000 beneficiaries through the in-patient facilities.

• The facilities at Sir Ivan Stedeford Hospital are being upgraded with a renovation and expansion project. The construction of the new diagnosis block has been completed and is fully functional since April 2018.Through its Mobile Health Van service in Haliyal (North Karnataka), Sarigam (Gujarat) and Deckiajuli(Assam) the Foundation has reached out to over 40,000 patients.

• The educational institutions (schools and polytechnic college) run by the Foundation cater to the educational needs of around 10,000 students, of which 7000 belong to marginalised communities.
• The Murugappa Youth Football Academy currently coaches 96 students in football.

• Mobile Science Van has facilitated science education in 25 government and government-aided schools in Sivagangai district.

In addition to the above, during the year, the Group’s manufacturing companies stepped up development initiatives in the area of education, healthcare, sanitation, skill development, environment & sustainability, infrastructure development and community building primarily catering to communities around the plant/office locations.

• CUMI’s centre for skill development at Hosur and Edapally provides free education and skill-training to deserving students from the underprivileged section of the society. Currently 175 trainees are undergoing the training and they shall be absorbed by the company.

• TII’s Basic training centreon skill development at Avadi provides free education and skill-training to deserving students from the underprivileged section of the society. Currently 132 trainees are undergoing the training and they shall be absorbed by the company.

1. Brand initiatives

The Group continued to invest in building awareness and engagement among core audiences with the multi-lingual ‘Together Let’s Progress’ campaign on television and digital media.  During the year, the Group increased its investment in digital platforms. In addition to the on-going digital campaigns, a thematic public awareness campaign titled ‘Good Netizen, Good Citizen’ was launched with the aim of raising social awareness on the responsible use of social media and the Internet. The campaign comprising of 6 videos garnered over 16 million views online.

1. Awards and Recognitions

The Group Companies have won several awards over the last year, below is a compilation of a few of them:

• Cholamanadalam Investment and Finance Company Limited was selected as the “Company With Great Managers – 2017” by The Times Group & People Business

• Cholamandalam MS General Insurance was selected as the “Dream Company to Work For – Insurance Sector” by Times Ascent and World HRD Congress

• Cholamandalam MS General Insurance won the “Pride of Tamil Nadu Award for BFSI Sector” for excellence in the Insurance sector

• EID Parry won the Chennai Best Employer Award from the Employer Branding Institute India

• EID Parry, Nellikuppam was awarded a “Commendation Certificate” for “Strong Commitment to Food Safety” for the year 2017 by Confederation of Indian Industry

• EID Parry was awarded “India’s Best Sugar Manufacturing Company” of the Year 2017 by International Brand Consulting Corporation

• 4 awards were won by CUMI Plant locations for TPM Excellence from the Japan Institute of Plant Maintenance (JIPM) – CUMI Abrasives, Maraimalai Nagar and CUMI Abrasives, Sriperambudur won “Award for Excellence in Consistent TPM Commitment”. CUMI Abrasives, Hosur and CUMI Industrial Ceramics, Hosur won “Award for TPM Excellence” from Japan Institute of Plant Maintenance

• Coromandel International won the “Award of Excellence for Corporate Social Responsibility Brochure” from Global Communicator Awards’ from the Academy of Interactive and Visual Arts, New York

• Tube Products of India was awarded the “Strategic Global Partner” by Showa Corporation, Thailand

• TI Cycles of India was awaKolkata/Chennai, 16^thMay 2018: Murugappa Group registers a growth of 13% in turnover at₹ 32,893Crores during 2017-18 (last year ₹ 29,206Crores). Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) posted a growth of 14%, at ₹4,663Crores (last year ₹ 4,075Crores). Profit before Tax (inclextra ordinary items)were ₹3,562Crores (last year ₹ 3,013Crores) registering a growth of 18%.

  A: Company-wise Performance:

  Figures in ₹ Crores

  Group Companies	Net Sales		EBITDA
  	2017-18	YoY Growth %	2017-18	YoY Growth %
  Cholamandalam Investment and Finance Company Limited	5,501	17%	1,535	34%
  Coromandel International Limited	10,891	9%	1,285	24%
  Cholamandalam MS General Insurance Company Limited	4,103	31%	366	17%
  Carborundum Universal Limited	2,330	12%	422	18%
  Tube Investments of India Limited	4,789	11%	442	-2%
  E.I.D.-Parry (India) Limited	4,569	5%	405	-35%
  Other Businesses	710	10%	208	39%
  Total	32,893	13%	4,663	14%

  Note: Previous year’s numbers have been re-grouped, wherever necessary 

  B: Market Capitalization

  Market Capitalization of the listed companies of the group aggregates to $10 billion (Rs. 67,117 Cr) as of 31st Mar 2018. 

  C: Corporate Initiatives 

  1. Coromandel International Limited acquired Bio business from EID Parry India Limited w.e.f 1^st Apr 2018 to expand into bio-stimulants and microbials.

   

  2. EID Parry(India) Limited has signed an agreement with Cochin based Synthite Industries to set up a 50:50 joint venture for manufacturing value added algae product, Phycocyanin, a natural blue pigment extracted from Spirulina for application in a variety of foods and beverages.

   

  3. Tube Investments of India Limited(TII) has demerged its manufacturing and financial services operations into two entities namely, Tube Investments of India Limited and TI Financial Holdings Limited in Aug 2017 with appointed date for the scheme as 1^stApr 2016.

   

  4. Tube Investments of India Limited (TII)hasacquiredcontrolling stake in Creative Cycles & Great Cycles, Sri Lanka, to strengthen and expand the global supply chain for the premium cycles portfolio.

   

  5. Cholamandalam MS General Insurance Company Limitedraised₹ 100 Cr of Tier II capital to fund growth by strengthening the Company’s solvency.

   

  D: Capital Expenditure

   

  Aggregate capital expenditure programmes towardsexpansion/ debottlenecking / modernising facilities across group companies were over ₹ 600Croresduring the year.

   

  E: Sector highlights for 2017-18

   

  Financial Services Businesses

   

  Cholamandalam Investment and Finance Company Limited (CIFCL)

   

  CIFCL’s Assets under Management (AUM) registered a growth of 25% to ₹ 42,879 Crores during FY2017-18. The aggregate disbursements for FY 2017-18 is at ₹ 25,114 Crores,a growth of 35% led by stellar performance in Vehicle Finance business division, registered a 42% growth over previous year. Home Equity disbursements grew up by 4% in FY2017-18.

   

  Due to effective credit management and collections, CIFCL’s overall Gross Non-Performing Assets (GNPA) has reduced to 2.94% in FY 2017-18 from 4.66% in previous year. Profit after tax for FY 2017-18stoodat ₹ 974 Crores registering a growth of 36% year-on-year.

   

  Capital adequacy Ratio (CAR) was at 18.40% against the regulatory requirement of 15%. Tier I capital is at 13.3% against regulatory requirement of 10%.

   

  The company operates from 873 branches across India.

   

  Cholamandalam MS General Insurance Company Limited (Chola)

   

  Chola’sGross Written Premium recorded a growth of 31% during FY2017-18 to ₹ 4,103 Crores. Combined Ratio (CoR) has improved to 100.79% in FY 2017-18 from 101.25% in the previous year. Profit before tax grew up by 17%to ₹ 347 Crores.

   

  Retail has been the dominant growth strategy with Motor, Health and Crop insurance contributing over 80% of the premiums with a good mix across Metros and Non Metros.

  Investment income during the year was ₹489 Crores; Investment book size as of end March 2018 was over ₹ 6,300 Crores.

   

  The company operates from 90 branches across India.

   

  Engineering Businesses

   

  Carborundum Universal Limited (CUMI)

   

  CUMI reported an increase in consolidated net sales by 12% to ₹ 2,330 Crores in FY 2017-18driven by better performance from all major segments. On a consolidated basisprofit after taxincreased to ₹ 220Crores from ₹ 184Crores.

   

  Abrasives

  The division registered a growth of 9%. The net sales for FY 2017-18 were ₹ 1,018 Crores compared to ₹ 938 Crores in the previous year. The Indian operations delivered good growth on account of higher volumes. Aided by buoyancy in revenues and cost reduction projects and others initiatives, Profit before interest and tax (PBIT) for the year FY 2017-18increased to ₹ 132 Crores from ₹ 113 Crores in the previous year.

  Electro minerals

  The division registered a growth of 18%. The net sales for FY 2017-18were ₹ 883 Crores compared to ₹ 749 Crores in the previous year. Both Russian and Indian businesses exhibited improved performance. The profit before interest and tax (PBIT) increased to ₹ 127 Crores in FY 2017-18 from ₹ 91 Crores in the previous year.

   

  Ceramics

  The division registered a growth of 11%. The net sales for FY 2017-18were ₹502 Crores compared to ₹ 451 Croresin the previous year. Profit before interest and tax increased (PBIT) to ₹ 76 Crores from ₹ 70 Crores, driven by higher volumes in both standalone and overseas operations.

   

  Tube Investments of India Limited (TII)

  For FY 2017-18, TII’s consolidated net sales were higher by 11% at ₹4,789 Crores.Profit after tax for the year was ₹156 Crores as against ₹ 174 Crores in the previous year.

   

  Engineering

  The division has registered a net sales growth of 24% during the year and Profit before interest and tax (PBIT) for the year was Rs 175 Crores as against Rs146 Crores in the previous yearregistering a growth of 20%.In domestic tubes, TII continue to improve its market share through better quality and service. The sales of Large Diameter Tubes recorded healthy growth.

   

   

  Cycles and Accessories

  Net sales of the division for the year dropped by 3%. Profit before interest and tax (PBIT) for the year was ₹ 0.33 Crores as against ₹ 36 Crores in the previous year. The Market condition of the Bicycles segment continues to be challenging. Trade volumes across product segments have declined during last year. The division’s sales in Institution segment grew up marginally. Premium Cycles Segment grew by 29%. This division continues to pursue aggressive cost reduction measures to mitigate the drop in volumes.

   

  Metal Formed Products

  Net sales of this division, with a product range of doorframes, chains and fine blanking products catering to Auto sector, registered a growth of 11% during the year and Profit before interest and tax (PBIT) for the year was ₹ 102 Crores as against ₹ 88 Crores in the previous year, registering a growth of 16%.

   

  Shanthi Gears Limited

  Shanthi Gears Ltd., a subsidiary company of TII operating in the Industrial Gears Business, registered a net salesgrowth of 16% for the year. The net sales for the year were ₹ 214 Crores as against ₹184 Crores in the previous year. Profit after tax (PAT) for the year was at ₹ 29 Crores as against ₹ 23 Crores in the previous year, registering a growth of 27%.

   

  Agri-businesses

   

  Coromandel International Limited (CIL)

   

  Coromandel International Limited registered a growth of 9% and consolidated net sales stood at ₹ 10,891 Crores.The business has shown an all-round improvement in the performance by increasing its sales and higher capacity utilization, resulting in operational efficiencies. In the Nutrient segment, business has increased its share in the key addressable markets.

   

  Consolidated Profit after tax for year ended March 2018 is ₹664Crores as against previous year of ₹477Crores registering a growth of 39%.

   

  E.I.D.-Parry (India) Limited(EID)

   

  E.I.D. Parry (India) Limited reported a consolidated net sales,excluding the Coromandel International Limited, of ₹ 4,569 Crores in FY 2017-18, registering a growth of 5%.The performance of the company has been impacted due to depressed sugar prices on account of higher sugar production in the country than previous sugar season.

   

  The Company has made a one-time settlement of additional cane price of ₹ 87 Crores for Sugar years 2013-14 to 2016-17 which has been agreed with farmer registered with the company in Tamil Nadu. Profit after tax (PAT) for the year 2017-18 was ₹28Crores against ₹ 302 Crores in the previous year.

   

  Other Businesses

   

  This business group predominantly consists of Plantations, Floor Covering / Home Textiles, Technical Textiles / Shade Nets and construction. The net sales of this business group were recorded at ₹710 Crores registering a growth of 10%. Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) were recorded at ₹ 208 Crores registering a growth of 39%.

   

  1. HR Updates

  • In the most recent edition of the Group-wide Employee Engagement Survey, a 17% increase in the Engagement score over the previous survey was recorded, demonstrating the effectiveness of the various initiatives the Group has been taking in this area. 84% of employees, which included both management and non-management staff, participated in the survey from across 1200 locations.

   

  • During the year, 22 young leaders graduated from the Young Leaders Programme (A customized course for high potential managers under 35 years). The course included modules on Leadership & Managerial effectiveness; Business Etiquette & Executive Presence. A batch of 23 senior managers with P&L and functional responsibilities commenced the Murugappa Leadership Programme, which includes classroom courses and outbound modules. Both programs are offered in partnership with IIM-Ahmedabad

   

  • The Fitness, Health and Happiness campaign was started in the year 2014, a unique 72 day wellness plan cum contest. Over the last 4 years, 14,000+ employees have benefitted from this programme across the Group

   

  • In addition to the programs that encourage and facilitate physical wellness, the Group’s employees across the country have now been provided easy access to confidential counseling services through an Employee Assistance Program (EAP). The service is open to employees’ families as well to seek support when faced with stressful situations in their personal or professional life

   

  • Pride of Murugappa – The Best Practices sharing platform of the Murugappa Group is an annual event encouraging employees to share with one and other the best practices in their businesses. In the year 2017, a record number of 2000+ entries were received with over 3600 participants.

   

  • Chola MS General Insurance in association with Manipal Global Education Services (MAGE) set up the Chola Insurance Academy, which provides a 1 year Post Graduate Diploma in General Insurance. The first batch of students are set to graduate in the next few months and will be placed with Chola’s insurance business.

   

  • Chola Investments and Finance Company Limited partnered with Finitiatives Learning India Pvt. Ltd (FLIP), ICICI Skills academy & TVS training Institute to recruit over 300 trained resources in a span of 4 months in FY 17 – 18 across South, North & East zones

   

  1. Corporate Social Responsibility

   

  • As part of the on-going corporate social responsibility initiatives, the Group has continued its contribution to various projects through the AMM Foundation and Shri AMM MurugappaChettiar Research Centre (MCRC).
  • In its fourth year, the AMM MurugappaChettiar Centenary Scholarships (Full Fee), the Foundation has supported 141 Murugappa scholars. These scholars are pursuing Medical (22), Engineering (78), Arts and Science & commerce (31) and Agriculture (10) courses.

   

  • The Foundation has supported the education of 121 most-deserving economically backward students through the AMM MurugappaChettiar Centenary Scholarship (General).

   

  • Over the past year, the hospitals run by the AMM Foundation have reached out to over 8 lakh people through their outpatient services, and 12,000 beneficiaries through the in-patient facilities.

   

  • The facilities at Sir Ivan Stedeford Hospital are being upgraded with a renovation and expansion project. The construction of the new diagnosis block has been completed and is fully functional since April 2018.Through its Mobile Health Van service in Haliyal (North Karnataka), Sarigam (Gujarat) and Deckiajuli(Assam) the Foundation has reached out to over 40,000 patients.

   

  • The educational institutions (schools and polytechnic college) run by the Foundation cater to the educational needs of around 10,000 students, of which 7000 belong to marginalised communities.

   

  • The Murugappa Youth Football Academy currently coaches 96 students in football.

   

  • Mobile Science Van has facilitated science education in 25 government and government-aided schools in Sivagangai district.

   

  In addition to the above, during the year, the Group’s manufacturing companies stepped up development initiatives in the area of education, healthcare, sanitation, skill development, environment & sustainability, infrastructure development and community building primarily catering to communities around the plant/office locations.

  • CUMI’s centre for skill development at Hosur and Edapally provides free education and skill-training to deserving students from the underprivileged section of the society. Currently 175 trainees are undergoing the training and they shall be absorbed by the company.

   

  • TII’s Basic training centreon skill development at Avadi provides free education and skill-training to deserving students from the underprivileged section of the society. Currently 132 trainees are undergoing the training and they shall be absorbed by the company.

   

  1. Brand initiatives

   

  The Group continued to invest in building awareness and engagement among core audiences with the multi-lingual ‘Together Let’s Progress’ campaign on television and digital media.  During the year, the Group increased its investment in digital platforms. In addition to the on-going digital campaigns, a thematic public awareness campaign titled ‘Good Netizen, Good Citizen’ was launched with the aim of raising social awareness on the responsible use of social media and the Internet. The campaign comprising of 6 videos garnered over 16 million views online.

   

   

   

  1. Awards and Recognitions

   

  The Group Companies have won several awards over the last year, below is a compilation of a few of them:

  • Cholamanadalam Investment and Finance Company Limited was selected as the “Company With Great Managers – 2017” by The Times Group & People Business

   

  • Cholamandalam MS General Insurance was selected as the “Dream Company to Work For – Insurance Sector” by Times Ascent and World HRD Congress

   

  • Cholamandalam MS General Insurance won the “Pride of Tamil Nadu Award for BFSI Sector” for excellence in the Insurance sector

   

  • EID Parry won the Chennai Best Employer Award from the Employer Branding Institute India

   

  • EID Parry, Nellikuppam was awarded a “Commendation Certificate” for “Strong Commitment to Food Safety” for the year 2017 by Confederation of Indian Industry

   

  • EID Parry was awarded “India’s Best Sugar Manufacturing Company” of the Year 2017 by International Brand Consulting Corporation

   

  • 4 awards were won by CUMI Plant locations for TPM Excellence from the Japan Institute of Plant Maintenance (JIPM) – CUMI Abrasives, Maraimalai Nagar and CUMI Abrasives, Sriperambudur won “Award for Excellence in Consistent TPM Commitment”. CUMI Abrasives, Hosur and CUMI Industrial Ceramics, Hosur won “Award for TPM Excellence” from Japan Institute of Plant Maintenance

   

  • Coromandel International won the “Award of Excellence for Corporate Social Responsibility Brochure” from Global Communicator Awards’ from the Academy of Interactive and Visual Arts, New York

   

  • Tube Products of India was awarded the “Strategic Global Partner” by Showa Corporation, Thailand

   

  • TI Cycles of India was awarded the “CII Design Excellence Award for Brute+ Range” By Confederation of Indian Industry for excellent design in mobility design category

   

  • For the Good Netizen, Good Citizen campaign, the Murugappa Group won 4 awards (2 Gold and 2 Silver) at the recently concluded Madras Advertising Club Awards (Maddys 2018)

   

  rded the “CII Design Excellence Award for Brute+ Range” By Confederation of Indian Industry for excellent design in mobility design category

• For the Good Netizen, Good Citizen campaign, the Murugappa Group won 4 awards (2 Gold and 2 Silver) at the recently concluded Madras Advertising Club Awards (Maddys 2018)