Driven by Values. Powered by People. Contents 01 36 Overview Financial Services 06 38 Group Structure Cholamandalam Investment 08 and Finance Company Limited Milestones 40 13 Cholamandalam MS General e Murugappa Way Insurance Company Limited 19 42 Legacy Cholamandalam MS Risk Services Limited 20 44 Group Financials Other Businesses 22 46 Group Business Portfolio Parry Agro Industries Limited 24 48 Agriculture MOWS (Murugappa Organo Water Solutions) 26 48 Coromandel International Limited Parry Enterprises 28 49 EID Parry (India) Limited Coromandel Engineering Limited 30 49 Engineering Ambadi Enterprises Limited 32 51 Carborundum Universal Limited People 34 54 Tube Investments of India Limited Community Initiatives All nancials in this brochure are for FY 2018-2019. Market Capitalisation as of 30th September, 2019 e Murugappa Group has had two core drivers, right from day one: People and Value Creation. Factors that have inuenced its choice of businesses, alliances, standards and strategies. Group companies operate from a position of strength, aligning the interests of stakeholders and maximising the potential of their people. Governance is given the highest importance, to ensure business continuity and smooth transitions. is steadfast path has seen the Group establish a market-leading presence in core sectors such as Agriculture, Engineering and Financial Services. Overview 50,000 Employees 28 Businesses 1 Group 1 Ethos e Murugappa Group had its origins in the banking business in Burma in the 1900s. Over the years, the Group has grown into a conglomerate with a global footprint spanning 40 countries. e Group operates 28 successful businesses catering to diverse markets around the world. Over 50,000 employees working together to create productsand services that make a dierence to countless lives around the world. Murugappa Group 01 Global Manufacturing Presence Australia Industrial Ceramics Chile Nutraceuticals France Industrial Chains Russia Electro Minerals, Abrasives South Africa Electro Minerals, Phosphoric Acid Sri Lanka Bicycles ailand Abrasives Tunisia Phosphoric Acid USA Nutraceuticals 02 2018-2019 10 manufacturing locations Murugappa Group 03 Manufacturing Locations in India 1 3 3 2 2 3 2 2 8 1 5 1 5 5 34 4 04 2018-2019 81 manufacturing locations across 16 states State/Union Territory* No. of Plants Companies (No. of Units) Tamil Nadu 34 EID Parry (8) CUMI (7) TII (7) Parry Agro (5) Coromandel (4) MMTCL (1) New Ambadi (1) Shanthi Gears (1) Gujarat 8 Coromandel (4) CUMI (1) MMTCL (1) PEIL (1) TII (1) Andhra Pradesh 5 Coromandel (3) EID Parry (1) PSRIPL (1) Karnataka 5 EID Parry (3) Ambadi (1) Coromandel (1) Maharashtra 5 EID Parry (2) TII (2) Coromandel (1) Kerala 4 CUMI (3) Ambadi (1) Assam 3 Parry Agro (3) Punjab 3 TII (3) Uttarakhand 3 TII (2) CUMI (1) Haryana 2 Ambadi (1) TII (1) Madhya Pradesh 2 Coromandel (1) CUMI (1) Rajasthan 2 Coromandel (2) Uttar Pradesh 2 Ambadi (1) Coromandel (1) Telangana 1 TII (1) West Bengal 1 CUMI (1) Jammu & Kashmir* 1 Coromandel (1) Murugappa Group 05 Group Structure. Holding Pattern. EID Parry (India) Limited* 44.77% Coromandel International Limited* 61.72% Cholamandalam Financial Holdings Limited* 49.02% Cholamandalam Investment and Finance Company Limited* 52.94% Chola MS General Insurance (JV) 60.00% *Companies listed on NSE/BSE % represents Murugappa Group shareholding as of September 2019 06 2018-2019 Tube Investments of India* 47.91% Shanthi Gears Limited* 70.47% Carborundum Universal Limited* 42.08% Wendt India Limited (JV)* 39.87% Coromandel Engineering Company Limited* 74.52% Murugappa Group 07 Milestones The Group’s founder, Dewan Bahadur AM Murugappa Chettiar sets up money lending and banking business in Burma (now Myanmar) under the name AMM Rm Firm Moves assets to 1950 India before the TO Japanese invasion of Burma in World 1980 War II. Ventures 1900 into industry with TO investments in emery paper and 1915 steel furniture Establishes companies in core industrial sectors and re-enters the financial 1915 services sector TO 1949 Establishes TI Cycles 1953 1934 of India Limited in Establishes AMM Charities Trust, collaboration with the formal entity to channelise Tube Investments Limited, the Group’s philanthropic initiatives UK, the then world’s largest manufacturer of bicycles 1954 Incorporates CUMI, a JV between Carborundum Company, USA, Universal Grinding Wheel Company, UK and the Murugappa Group, India The Group diversifies 1934 TO Tube Investments of India (TII) into textiles, rubber diversies operations into tube plantations, insurance 1949 products, metal formed products and stock broking. and chains Expands business to Malaya (now Malaysia), TI Cycles launches the BSA SLR Vietnam and Ceylon Brand which caters to the urban (now Sri Lanka) cycling needs 1960 TI Cycles makes its one millionth bicycle 1978 Cholamandalam Investment and Financial Company begins operations in Equipment Finance, lending to small entrepreneurs Pursuing Excellence. Delivering Success. 08 2018-2019 1981 TO 1990 Formation of the Murugappa Group structure, streamlining of core businesses and realigning of portfolios. Enters agriculture sector with Expands global presence through the acquisition of the 200-year JVs with leading international companies old ailing company, EID Parry, a large sugar manufacturer in Tamil Nadu. Expands further into agriculture, growing the fertiliser business, Coromandel 1991 CUMI enters a new business segment - Industrial Ceramics, with technical know-how 1984 from CoorsTek of USA CUMI acquires 40% interest in Wendt 1994 (India) Ltd., which manufactures Super Chola MS Risk Services, a unique JV with Abrasives Mitsui Sumitomo, Japan set up to cater to the growing need for Risk Assessment, Consulting Sets up Murugappa Morgan ermal and Mitigation Ceramics Ltd. (MMTCL), a JV between Morgan ermal Ceramics division TI Cycles launches India’s rst bicycle for girls, of Morgan Crucible Plc. UK and BSA Ladybird Carborundum Universal (CUMI) of Murugappa Group 1998 TII enhances presence in auto-ancillaries business 1985 with exclusive vendor tie-up supplying doorframes Commissions Parry Agro Mayura, to Hyundai the biggest tea manufacturing facility in South India. Mayura becomes the 1999 leading mark in the Kochi Auctions and Formation of the Murugappa Group structure continues to be a leading mark in terms of volume and price Late 1980’s EID Parry begins large scale production of Spirulina 1991 TO 2000 Murugappa Group 09 Increases global footprint and enhances customer touch points in cycles, farm inputs and general insurance 2001 e Murugappa Group becomes the rst Group in India to win the IMD Distinguished Family Business Award from IMD Switzerland 2002 2011 TIMF begins supplying to the Railways, a new segment TO that grows to capture signicant market share in less than two decades 2019 2003 Chola MS General Insurance Company Limited, a General Insurance Joint Venture with global leader, Mitsui Sumitomo Insurance Group, Japan, is launched 2004 e Murugappa Group turnover crosses USD 1 billion mark Achieves ambitious revenue EID Parry launches India’s rst branded sugar targets at 3 times GDP. – Parry’s Pure Rened Sugar Garners significant leadership positions through increased 2005 capital expenditure and significant CUMI achieves global scale in silicon carbide, with the growth in adjacency acquisition of Volzhsky Abrasive Works (VAW), the world’s businesses and acquisitions second largest producer of silicon carbide 2007 2011 Coromandel launches unique farm inputs rural retail format, TI Cycles creates a record, manufacturing Mana Gromor over 4 million cycles 2008 Coromandel acquires Sabero Organics TI Cycles takes the bicycle buying experience up several notches – in the Crop Protection Chemicals space launches innovative retail format Track & Trail TI Cycles launches India’s rst carbon EID Parry acquires US Nutraceuticals, producer of dietary bre bicycle, Montra formulations and nutraceuticals 2012 e Murugappa Group turnover crosses INR 150 billion TII acquires Shanthi Gears, brand leader 2009 and benchmark in industrial gears EID Parry acquires 76% stake in Sadashiva Sugars Limited 2014 and enters the state of Karnataka EID Parry’s SEZ unit at Kakinada records 2010 INR 1000 Crore turnover in its rst full Coromandel establishes Joint Venture with SQM Chile and year of operations becomes a ‘top 3’ player in India in the Specialty Nutrients space EID Parry subsidiary, US Nutraceuticals acquires Chile-based Alimtec SA, a key raw TII ventures into Europe with the acquisition of SEDIS, France, material supplier for its US arm an industrial chains manufacturer Coromandel acquires Liberty Phosphates, EID Parry acquires majority stake in GMR Industries Limited, with becoming the largest Single Super manufacturing units in the Karnataka and Phosphate player in India Andhra Pradesh markets Coromandel enters farm mechanisation joint venture with Yanmar, Japan TPI expands into non-auto segments 2001 TO 2010 10 2018-2019 Milestones The Murugappa Group today e Murugappa Group turnover is at INR 370 billion (USD 5.3 billion) Coromandel is presently the 5th largest Agrochemical Indian player. Operates the largest network of agri-retail chains, ‘Mana Gromor’ in India with over 800 centres EID Parry is one of India’s largest integrated sugar producers. e company is a global leader in the organic spirulina space CUMI enjoys the widest global footprint in the Murugappa Group with over 20,000 products across 3 business verticals being manufactured in 5 countries and sold in over 50 countries