It all started in 1900 with a money-lending and banking business. A M Murugappa partnered with Ramanathan Chettiar to start their business operations in Burma (Myanmar) and later expanded to Malaysia, Sri Lanka, Indonesia and Vietnam, before moving back to India in 1930. From one sandpaper plant, the group has now interests in manufacturing, insurance, banking and finance, textiles and even stock broking. Some of the group’s flagship business entities include Cholamandalam Investment & Finance Co. and Coromandel Fertilisers.
The Chennai-based family-owned business registered a turnover of `26,926 crore in 2014-15 and employs about 32,000 professionals. It is a market leader in segments such as abrasives, auto components, transmission systems, cycles, sugar, farm inputs, fertilisers and plantations. Currently, it has a presence in six continents and continues to increase its global footprint through joint ventures and alliances with multi nationals like Groupe Chimique, Tunisien and Foskor.
Each generation has not only strengthened existing businesses, but has also created new ones. For instance, under the leadership of A Vellayan, the current chairman of the group, acquisitions have demonstrated the group’s capability of turning around business units. He was also instrumental in consolidating some of the businesses, restructured the group’s core businesses and streamlined the product portfolio that helped the group emerge as one of the country’s leading business conglomerates. In all, it has 28 businesses, including nine listed companies.