Priority is to bring CG Power back on track, says Tube MD

Tube Investments of India (TII), part of over Rs 38,000-crore Murugappa group has said that bringing the recently-acquired CG Power and Industrial Solutions back on track is the company’s priority, as it believes there is a fair amount of value creation opportunity for it, by improving profitability of the latter.

Vellayan Subbiah, MD of TII, told shareholders, in the Annual Report 2021, that reducing CG Power’s debt vulnerabilities will continue to be an important metric for TII.