Murugappa family

Murugappa family
Murugappa family
Raju Patil for Forbes India
At a Glance
  • Age
  • Earnings
    $ 1.7 Billion
  • Source of earnings
  • Marital Status
  • Children
  • Residence

Forbes India Lists

#73 India Rich List 2016

#72 India Rich List Rank 2014
#90 India Rich List Rank 2013

Clan behind the 116-year-old Murugappa Group, a conglomerate of 28 companies with combined annual revenue of $4.5 billion, returns to the 100 richest on share gains at all its companies after dropping off last year. Sugar outfit EID Parry saw shares double on rising sugar prices while abrasives maker Carborundum Universal recorded a 72% surge on a jump in sales and profitability. TI Cycles, a leading maker of bicycles in India, has opened a factory in Punjab to cater to the northern and eastern markets. Murugappa chairman A. Vellayan, who stepped down in May 2015 after being charged with insider trading by market regulator SEBI, was reappointed 5 months later. This May SEBI dismissed the case but said it may reinvestigate. He has denied the charge.

India Rich List 2016

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