Section 35
Murugappa Group
Started as: Money-lending and banking in Burma (now Myanmar)
- founded
- 1900
- founder
- Dewan Bahadur A.M. Murugappa Chettiar
- headquarters
- Chennai, Tamil Nadu
- 10.2
- Consolidated turnover, FY25 (US$ billion) · 2025
- 94,000+
- Workforce · 2026
- 40.83
- Group market value, 30 March 2026 (US$ billion) · 2026
- 10
- Listed companies · 2026
The story
The group began in 1900 as a money-lending and banking firm in Burma, set up by A.M. Murugappa Chettiar. During the world wars the family moved its base to South India.
In India it turned to manufacturing, usually with foreign partners at first: bicycles, abrasives, fertilisers and sugar. Finance came later, with Cholamandalam lending to buyers of vehicles and homes.
Today the group has 10 listed companies. Its own presentation puts FY25 consolidated turnover at US$10.2 billion and its workforce at more than 94,000.
Where it works today
Fertilisers and crop protectionSugarAbrasives and ceramicsBicycles and auto componentsElectrical equipmentVehicle and home financeInsurance
Main companies
Tube Investments of India · Carborundum Universal · Coromandel International · Cholamandalam Investment and Finance · EID Parry · CG Power · Shanthi Gears · Wendt (India)
Timeline
- 1900A.M. Murugappa Chettiar starts a money-lending and banking business in Burma.
- 1949TI Cycles begins making bicycles in Chennai with British partners.
- 1954Carborundum Universal is set up to make abrasives.
- 1961Coromandel Fertilisers is set up.
- 1978Cholamandalam Investment and Finance is set up.
- 1981The group takes over EID Parry, a sugar company with roots in 1788.
- 2020Tube Investments takes control of CG Power.