Group Executive Chairman A Vellayan attributed the increase in market capitalisation to the performance of three companies
including the Tube Investments of India Ltd and Cholamandalam Investment and Finance Company Ltd and Coromandel International Ltd.
Conglomerate's revenue was led by Coromandel International, which reported a drop in revenue at Rs 10,304 crore in FY17 as against Rs 11,726 crore in the previous financial year.
Growth was also atrributed to favourable government policies that helped in increasing investments in India. According to the group, benefits of the polciies could be seen in various sectors including steel and fertiliser segements.
Capacity utilisation of the group rose to around 75 per cent from 60 per cent and is expected to increase further to range between 85 percent to 90 per cent by the year-end, said Vellayan.
Two key sectors recognised by the group include sugar and fertiliser segments, both of which got a major policy push from the government when it comes to pricing, export and import.
"Policy pay out was perfect as far as sugar sector is concerned. Most importantly, they were able to control the price even though the country is operating with three months' stock," said Vellayan.
As far ast the fertiliser sector is concerned, pay off from government measures is yet to materialsie but the group is satisfied with the intent. According to the group, the government has been asking about the company's plans every month and taking key decisions regarding quarterly imports based on capaicities.
Vellayan hopes that the fertiliser and agro businesses will increase to around 20-25 per cent in 2017-18, while in the sugar segment ther may be some temporary disruption due to GST.