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Murugappa Group plans Rs 2,000 cr capex till FY20

Thursday, 17 May 2018
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Murugappa Group has drawn Rs 2,000 crore capital expenditure (capex) plan for FY19 and 20, which includes expanding capacity at its existing facilities.The investments will be mostly in agriculture and engineering side.

The company had spent around Rs 616 crore as capex for FY17 and Rs 660 crore for FY16. The funding for the capex will be done through internal accruals.

The investment includes expanding its existing phosphoric acid plant capacity to 440 tpa in Vishakapatnam. The project will require an investment of Rs 350 crore. Some of the capex will be invested in Russia as the company is setting up a gas-based power plant.

The proposed capex does not include any acquisition of another company. The company owns several companies under agriculture and engineering businesses and registered a total revenue of Rs 32,893 crore for FY18, from Rs 29,206 crore in FY17.

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