Kartik Investments Trust Ltd is a pure investment holding company - it owns a portfolio of shares and bank deposits, collects the dividends and interest, and does nothing else. Incorporated in 1978 and listed on the Bombay Stock Exchange, it has always been a vehicle for holding stakes in other Murugappa Group companies rather than an operating business itself. The recurring approach is simple: the company holds equity shares it does not trade, treats them as long-term investments, and lives off the income they generate - it has no employees, no borrowings, and no physical assets. # Business segments A single engine - an investment portfolio of equity shares and bank deposits - that generates all its income from dividends and interest. ## 1. Investment portfolio: a basket of group-company stakes that pays dividends **The company owns shares in Murugappa Group entities and fixed deposits with banks, and its entire income comes from the dividends and interest those holdings produce.** - **Long-term holder, not a trader** - every equity investment is classified as "Fair Value Through Other Comprehensive Income," meaning the company intends to hold these shares for the long run rather than buy and sell them for short-term gains. - **Income from two simple sources** - dividend income is booked the moment the company has a right to receive it, and interest on bank fixed deposits accrues over time based on the principal amount and the agreed rate. - **A portfolio concentrated in familiar names** - the holdings have included unquoted shares in group affiliates such as Cholamandalam MS Risk Services, Chola Business Services, Murugappa Management Services, and Parry Enterprises, alongside a small quoted stake in Coromandel Engineering. - **Occasional exits when the price is right** - in October 2025, the company sold its entire 2.9% stake in Parry Enterprises to Ambadi Investments Ltd, a promoter entity, for a lump sum of about ₹6 crore, showing that the portfolio can be monetised when an opportunity arises. - **No debt, no overheads** - the company has never taken a loan from any bank or financial institution, carries no fixed assets or inventory, and has zero employees, so almost every rupee of income flows through to the bottom line. # Group structure and partners **Kartik Investments Trust sits inside the Murugappa Group, with promoter entities holding nearly three-quarters of its shares, and has no subsidiaries or joint ventures of its own.** - **A family arrangement reshaped the share register** - in 2023, a settlement among Murugappa family members led to the transfer of 100 shares held by the late M.V. Murugappan's branch, and those family members were subsequently reclassified from promoters to public shareholders once they held zero shares. - **No downstream entities** - the company has no subsidiaries, associates, or joint ventures, and no unlisted material subsidiary incorporated in India.