Implementation of swadeshi policies have started benefitting, says Vellayan

A Vellayan, Chairman, Murugappa Group

Latest News – The year 2016-17 was the best for Murugappa Group, with a $8-billion market capitalisation — 34 per cent growth over the previous year — the highest-ever EBITDA of Rs 4,065 crore, and a turnover of Rs 30,023 crore (Rs 29,395 crore in 2015-16).

In an interview with Business Standard, Group’s Executive Chairman A Vellayan tells T E Narasimhan that the group’s relative competitiveness, aided by Centre’s policy changes, have helped the company. Going forward, as part of de-reisking strategy, Coromandel International, which brings a major chunk of revenue, would reduce its dependency on subsidy business. Edited excerpts:

What are the key factors that helped the firm in 2016-17?

Better performance, investor confidence in India and a strong rupee have helped some of the businesses, especially Tube Investment, Chola Finance and Coromandel International. The performance was aided by positive policy environment, which (Read More)

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