Carborundum Universal smashes records with 7.6% surge in quarterly revenue

Carborundum Universal smashes records with 7.6% surge in quarterly revenue

Carborundum Universal Limited (CUMI), part of the Murugappa Group, has reported its best-ever quarterly earnings for Q2 of the fiscal year 2024-25, with consolidated sales reaching a record-breaking INR 1,209 crore, reflecting a 7.6% increase from Q2 FY24. The profit after tax (PAT) also rose significantly by 13.7%, totaling INR 116 crore for the quarter. […]

CG Power expands into semiconductor design with $36m Renesas acquisition

CG Power expands into semiconductor design with $36m Renesas acquisition

In a significant strategic move, CG Power and Industrial Solutions Limited, a leader in electrical engineering, has announced the acquisition of the Radio Frequency (RF) components business from Renesas Electronics America Inc. The acquisition, valued at $36 million, is part of CG Power’s foray into the rapidly growing and highly profitable semiconductor design sector. The […]

Coromandel secures phosphate dominance with new major stake in African mining company BMCC

Coromandel secures phosphate dominance with new major stake in African mining company BMCC

Coromandel International Limited, a leading player in India’s agricultural solutions industry, announced a significant development in its pursuit of long-term supply security for phosphate fertilizers. The company disclosed that it will increase its shareholding in Baobab Mining and Chemicals Corporation (BMCC), a rock phosphate mining company based in Senegal, to 53.8%. The strategic move, finalized […]

Carborundum Universal to acquire Silicon Carbide Products to expand global reach

Carborundum Universal to acquire Silicon Carbide Products to expand global reach

Carborundum Universal Limited (CUMI), a leading materials sciences engineering solutions provider, has announced its decision to acquire a 100 percent stake in Silicon Carbide Products Inc. (SCP) based in Horseheads, New York, USA. The acquisition is valued at an enterprise price of USD 6.66 million (approximately INR 56 crore), with the transaction expected to close […]

Coromandel International appoints S Sankarasubramanian as MD and CEO

Coromandel International appoints S Sankarasubramanian as MD and CEO

Coromandel International Limited has appointed S Sankarasubramanian, Executive Director of the Nutrient Business, as its new Managing Director and Chief Executive Officer, effective from 7th August 2024. This decision was made by the Board of Directors, highlighting Sankarasubramanian’s extensive experience and successful track record as both a Chief Financial Officer and a Business Head. Key […]

Tube lnvestments of India subsidiary TICMPL secures Rs 1,950cr for EV platform

Tube lnvestments of India subsidiary TICMPL secures Rs 1,950cr for EV platform

Tl Clean Mobility Private Limited (TICMPL) has inked definitive documents with its parent company Tube lnvestments of India Limited (Tll) along with Multiples Private Equity Fund lll, State Bank of India (SBl) as well as other co-investors to raise capital up to INR 1,950 crores in the form of equity and compulsorily convertible preference shares […]

Tube lnvestments of lndia to take full ownership of Cellestial E-Mobility

Tube lnvestments of lndia to take full ownership of Cellestial E-Mobility

Murugappa Group’s Tube lnvestments of lndia (TII) said that its fully-owned subsidiary Tl Clean Mobility (TICMPL) has agreed to take full ownership of Cellestial E-Mobility, a Hyderabad-based manufacturer of electric tractors, in a deal worth INR 50.9 crores in cash. In this connection, Tl Clean Mobility has entered into a share purchase agreement with the […]