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Murugappa Group draws capex plan for FY20

Thursday, 16 May 2019

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The Murugappa Group will invest around Rs 1,250-1,300 crore in FY20 as it eyes double digit growth.

The proposed investments will be made towards Carborundum Universal's capacity expansion at Sriperumbudur, Tube Investments' new plants for tubes and capacity expansion in metal forming business, Coromandel International's capacity expansion of its phosphoric acid unit at Vizag.

The Group is also investing around Rs 200 crore in technologies for its financial service businesses. The company is likely to close one factory at Puducherry and stop production at two of its facilities in Tamil Nadu due to non-availability of cane.