Mr M V Murugappan, the senior most member of the Murugappa family and former Chairman of Carborundum Universal Ltd, passed away on Tuesday, September 19th, 2017 at 10.45 pm after a brief illness. He was eighty-one. He is survived by his wife, two daughters and grandchildren.
Born on 17th January 1936, at Pallathur in the then Ramnad District, Mr Murugappan obtained a B.Sc. (Hons.) Degree in Civil Engineering from Birmingham University, England. An enthusiastic sportsman in College, he was awarded the Tennis "Blue" at the University.
Mr Murugappan spent his initial years in the construction business and was the Managing Director of Coromandel Engineering Company Ltd. He was also instrumental in setting up Coromandel Prodorite Ltd., to pioneer the manufacture of acid resistant cements and reinforced plastic chemical equipment.
In 1979, Mr Murugappan took over as Managing Director of Carborundum Universal Ltd (CUMI). Under his leadership CUMI grew into India's leading manufacturer of abrasives. His vision for technological leadership in the domain of materials led the company to expand into Industrial Ceramics and to invest in backward integration projects in hydro-electric and thermal energy. From 1995, Mr Murugappan was the Chairman of CUMI, a position he held till his retirement in 2004.
Mr Murugappan served on the Managing Committee of the Associated Chambers of Commerce and Industry of India for many years and was Chairman of the Madras Chamber of Commerce and Industry in 1987-88. He was President of the Madras Cricket Club in 1978-79 and President of the Rotary Club of Madras Mid-Town in 1976-77. In 1990, Mr Murugappan was the Chairman of the India-Australia Joint Business Council and in March 1992 he led the Indian delegation to Australia for the 6th Joint Business Council Meeting.
Mr Murugappan was the Trustee of A M M Foundation, the philanthropic arm of the Murugappa Group that manages schools, a Polytechnic college and 4 hospitals. He was also the Chairman of the Governing Body of Shri A M M Murugappa Chettiar Research Centre (MCRC), a non-profit research organization whose achievements reflect his passion and commitment to developing appropriate technology for the rural and urban poor.
The funeral cortege will leave at 3.00 pm on Wednesday, September 20th from his residence on Boat Club Road, R A Puram, Chennai for the cremation at Tiruvottiyur.
Shares of CARBORUNDUM UNIVERSAL LTD. was last trading in BSE at Rs.350 as compared to the previous close of Rs. 351.05. The total number of shares traded during the day was 12971 in over 320 trades.
The stock hit an intraday high of Rs. 355.7 and intraday low of 348.2. The net turnover during the day was Rs. 4550601.