There were signs of improvement in offtake during the year under review. Sales strengthened from US$ 617,974 (Rs. 30 million) to US$ 785,013 (Rs. 36 million). Net income improved to US$ 27,512 (Rs. 1.4 million) from US$ 10,170 (Rs. 0.5 million)

Principal Business
Marketing of Abrasive Products in the USA

The Company acquired a 51 percent stake in CAPL, a company engaged in the design, marketing and application of industrial ceramics and ceramic-lined equipment used in the coal processing industry. Since CAPL procures a significant requirement of industrial ceramics from CUMI, the investment is expected to help CUMI increase its presence in Australia. For the year ended 31st March 2004, the Company reported total revenues of AU$ 3.73 million (Rs. 123 million) and a profit after tax of AU$ 0.44 million (Rs. 20 million)

Principal Business

Turnover for the year under review was Rs. 105 million (previous year Rs. 101 million). Profit after tax improved from Rs. 13 million to Rs. 15 million through cost reduction and enhanced operating efficiencies. A dividend of 70 percent has been proposed for the year.

Sterling Abrasives Factory at Ahamedabad

Principal Business
Manufacture of grinding Wheels

Turnover increased by 19 percent to Rs. 116 million. Profit after tax increased by over 58 percent to Rs. 50 million. The Company paid the full dividend of 13 percent on preference shares and a 100 percent dividend on its equity shares. During the year, CUMI increased its shareholding in the Company from 60 percent to 62 percent.

The gas engine at SEDCO’s power plant

Principal Business
Operates a 5 MW natural gas based power plant as a captive source of power for the Murugappa Group. The power plant is at Nallur, Tiruvarur District in Tamil Nadu.

Income from operations increased from Rs. 18 million to Rs. 23 million. The company achieved break even levels and reported a net profit of Rs 0.60 million as against a loss of Rs. 4 million in the previous year. This improved performance was a result of a stronger focus on timely delivery and cost control.

Net Access development centre at Chennai

Principal Business
IT enabled Services Company focusing on facilities management and internet related services.

The Company was incorporated in Dec. 2006 in RAK Free Trade Zone, Ras Al Khaimah, UAE. It has been set up as a Product Availability Point (PAP) to serve the African, Middle East and Russian markets. The company has commenced operations in April 2006.

The Company was set up in 2006 to focus mainly for the Canadian and North American markets. Together with CUMI America, the Company serves as a Product Avaibility Point (PAP) for the CUMI's products for the North and South Amercian markets.

Principal Business