Tube Investments will demerge its financial and manufacturing businesses. In an interview to CNBC-TV18, L Ramkumar, MD of Tube Investments spoke about the latest happenings in his company and sector.
Tube investments' fourth plant in India will cater to the domestic market, especially North and East India, says Chairman MM Murugappan.
The company's profit were boosted by exceptional gain of Rs 725 crore on account of profit on sale of its Choldmandalam general insurance joint venture to Mitsui Sumitomo.
Tube Investments of India has confirmed it will buyout the entire 44.12% stake from Shanthi Gears' promoters. L Ramkumar, the MD of Tube Investments says it will make an open offer post the acquisition which is expected to be funded via internal accruals.
In an interview with CNBC-TV18, L Ramkumar, MD, Tube Investments says, there has been pressure on the margins due to the increase in steel and rubber prices. “Our endeavour is to maintain the same profit margins, earnings before interest, taxes, depreciation and amortization (EBITDA) margins,” he adds.
In an interview with CNBC-TV18, L Ramkumar, managing director of Tube Investments, spoke about the latest happenings in his company and the road ahead.