{"product_id":"murugappa-pestle-analysis","title":"The Murugappa Group PESTLE Analysis","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eYour Shortcut to Market Insight Starts Here\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eDiscover how political shifts, economic cycles, and technological innovation are reshaping The Murugappa Group’s strategic landscape—our PESTLE Analysis translates these external forces into actionable insights for investors and strategists; purchase the full report to access detailed risk assessments, growth opportunities, and ready-to-use slides and spreadsheets for immediate decision-making.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eP\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eolitical factors\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGovernment Agriculture Policies\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe Murugappa Group’s fertilizer and farm-input arms, led by Coromandel International, remain highly exposed to Indian government fertilizer subsidies (₹1.5 trillion FY2024 subsidy bill) and MSP-driven procurement; these policies accounted for c.40% of domestic fertilizer demand support in 2024. Changes in rural schemes or agricultural credit—RBI data shows farm credit growth 11% YoY as of FY2025—would directly affect product uptake. Policy stability through late 2025 has allowed multiyear procurement and capex planning for the primary sector.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTrade Relations and Export Incentives\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eMurugappa, with ~25% global share in bonded abrasives and substantial industrial ceramics exports, is sensitive to tariffs and FTAs; changes in EU\/US tariff lines could shift margins on Rs ~6,500 crore FY24 engineering sales. \u003c\/p\u003e\n\u003cp\u003eIndia’s RoDTEP, reimbursing duties up to 1.5–3% for eligible engineering exports, improves price competitiveness for Murugappa units like Tube Investments and Carborundum, impacting EBITDA on exported volumes. \u003c\/p\u003e\n\u003cp\u003eGeopolitical tensions (e.g., 2023–24 supply disruptions) and formation of new trade blocs can reroute automotive component supply chains, affecting delivery times and market access in ASEAN and EU, where Murugappa exports ~18% of components. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInfrastructure Spending Mandates\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eThe group’s engineering and metal units gain from India’s elevated infrastructure capex; Union Budget 2024\/25 pegged capital expenditure at Rs 11.1 lakh crore, up 11% YoY, boosting demand for pipes, bearings and specialty steels.\u003c\/p\u003e\n\u003cp\u003eMake in India incentives and import substitution policies support Tube Investments of India’s domestic manufacturing, aligning with higher localization and production-linked opportunities across 2024–25.\u003c\/p\u003e\n\u003cp\u003eFuture revenue growth hinges on timely execution of the National Infrastructure Pipeline (NIP) projects totaling Rs 111 lakh crore through 2026, which will drive order books and utilization across Murugappa’s engineering portfolio.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegulatory Stability in Financial Services\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eCholamandalam Investment and Finance faces regulatory stability risks as NBFC rules evolve; RBI reported NBFC sector assets at INR 57.1 trillion in FY2023, signalling close oversight that affects capital and provisioning norms.\u003c\/p\u003e\n\u003cp\u003ePolitical pushes for financial inclusion and digital banking (Pradhan Mantri Jan Dhan accounts \u0026gt;450 million) require product alignment, while shifts on interest caps or loan waivers can widen NPA stress and credit risk.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eRBI NBFC assets INR 57.1T (FY2023)\u003c\/li\u003e\n\u003cli\u003ePMJDY accounts \u0026gt;450M—digital inclusion pressure\u003c\/li\u003e\n\u003cli\u003eInterest cap or waiver policy shifts increase NPA\/credit risk\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegional Political Dynamics\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eThe Murugappa Group, headquartered in Chennai, must manage state and central politics across India and operations in 20+ countries; in 2024 India manufacturing accounts for over 60% of group revenue (~INR 18,000 crore).\u003c\/p\u003e\n\u003cp\u003eState labor laws and land acquisition rules in Tamil Nadu and Andhra Pradesh affect plant throughput—Tamil Nadu industrial disputes rose 8% in 2023, impacting uptime.\u003c\/p\u003e\n\u003cp\u003eMaintaining strong ties with state administrations ensures steady power, water and faster industrial licensing; delays can add weeks and cost crores.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eHeadquartered Chennai; 60%+ revenue from India (~INR 18,000 crore)\u003c\/li\u003e\n\u003cli\u003eOperations in 20+ countries\u003c\/li\u003e\n\u003cli\u003eTamil Nadu industrial disputes +8% in 2023\u003c\/li\u003e\n\u003cli\u003eRegulatory delays can cost weeks and crores\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Political-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eIndia policy tailwinds—fertilizer subsidies, capex \u0026amp; NBFC shifts reshape Murugappa growth\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003ePolitical factors: Murugappa depends on India’s ₹1.5T FY2024 fertilizer subsidies and MSP-linked demand; RBI shows farm credit +11% YoY (FY2025). Engineering exports benefit from RoDTEP (1.5–3%) but face tariff\/FTA risks; infrastructure capex (Union Budget 2024\/25 capex ₹11.1L crore) and Make in India aid localization; NBFC regulatory shifts (NBFC assets ₹57.1T FY2023) affect Cholamandalam funding.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eItem\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eFertilizer subsidy\u003c\/td\u003e\n\u003ctd\u003e₹1.5T FY2024\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFarm credit growth\u003c\/td\u003e\n\u003ctd\u003e+11% FY2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eUnion capex\u003c\/td\u003e\n\u003ctd\u003e₹11.1L crore 2024\/25\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNBFC assets\u003c\/td\u003e\n\u003ctd\u003e₹57.1T FY2023\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eExplores how macro-environmental factors uniquely affect The Murugappa Group across Political, Economic, Social, Technological, Environmental, and Legal dimensions, backed by current trends and region-specific data to identify threats and opportunities for executives and investors.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eCondensed PESTLE insights for The Murugappa Group, visually segmented for quick interpretation during meetings and easily dropped into presentations to align teams on external risks and strategic positioning.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eE\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003economic factors\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInterest Rate Fluctuations\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe Murugappa Group’s vehicle finance and home loan margins are highly sensitive to RBI repo rate shifts; a 250bps rise from 2022–24 pushed borrowing costs and compressed NIMs across its finance arm. High-rate periods have cut discretionary durable goods and bicycle demand—industry retail volumes fell ~6% YoY in 2024—while raising capital costs for CapEx in manufacturing. By end-2025, managing a cost-of-funds reduction of even 50–75bps will materially restore profitability in its financial services segment.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRural Income and Monsoon Dependency\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eA significant portion of Murugappa Group revenue ties to rural India through fertilizers, pesticides and farm equipment, with Agri revenues estimated at ~18–22% of consolidated sales in FY2024; monsoon-driven cycles thus directly affect purchasing power of core customers. Good monsoons boost input demand—FY2023 rural GDP growth was 3.5% vs urban 2.1%—while weak rains compress farm cashflows and sales. Diversification into non-farm sectors (e.g., cycle and abrasives businesses generating ~45% of group EBITDA in FY2024) cushions volatility, but rural demand remains a primary economic pillar.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInflation and Raw Material Costs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eFluctuations in global raw material prices—steel up ~18% in 2024 vs 2023, phosphoric acid rising 12–15% in 2023–24, and natural rubber volatile with a 20% swing in 2024—raise production costs for Murugappa’s engineering and fertilizer units.\u003c\/p\u003e\n\u003cp\u003eThe group’s ability to pass these costs to consumers without losing market share is critical; Murugappa reported gross margin pressure of ~120–160 bps in FY2024 in commodity-exposed segments.\u003c\/p\u003e\n\u003cp\u003eStrategic sourcing, supplier contracts and backward integration—Cholamandalam’s feedstock initiatives and Carborundum Universal’s vertical moves—are essential to protect margins against ongoing inflationary commodity cycles.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCurrency Exchange Rate Volatility\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eThe Murugappa Group’s international operations and raw-material imports expose it to INR volatility against USD and EUR; INR moved ~4% stronger vs USD in 2024 but showed 6% intra-year swings in 2025, impacting costs.\u003c\/p\u003e\n\u003cp\u003eExport-focused abrasives and ceramics gain from a weaker rupee—export revenue for Carborundum Universal rose ~12% in FY2024—while fertilizers face higher import bills for phosphate and potash.\u003c\/p\u003e\n\u003cp\u003eHedging and currency risk management—forward contracts and natural hedges—are vital to preserve margins; the group reported using forex derivatives covering ~40% of estimated 2025 net exposure.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eINR volatility: ~6% swing in 2025\u003c\/li\u003e\n\u003cli\u003eAbrasives exports: +12% revenue FY2024\u003c\/li\u003e\n\u003cli\u003eDerivatives cover: ~40% of 2025 exposure\u003c\/li\u003e\n\u003cli\u003eFertilizer import costs: up with weaker rupee\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGDP Growth and Industrial Production\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eGDP growth of 7.3% in FY2024 and IIP rising 4.6% YoY in Dec 2025 signal stronger demand for Murugappa’s engineering and automotive units, boosting orders for industrial consumables and precision tubes.\u003c\/p\u003e\n\u003cp\u003eThe group’s revenue and margin trajectory closely track India’s capex cycle, with industrial capex up 12% YoY in 2024 supporting higher utilization and pricing power.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eGDP FY2024: 7.3%\u003c\/li\u003e\n\u003cli\u003eIIP Dec 2025: +4.6% YoY\u003c\/li\u003e\n\u003cli\u003eIndustrial capex 2024: +12% YoY\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/PESTLE-Content-Economic-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMurugappa: Rate, commodity and INR swings vs. rural demand shape volumes \u0026amp; margins\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eEconomic drivers for Murugappa include RBI rate-driven NIM pressure (repo +250bps 2022–24), rural demand volatility (agri ~20% of sales FY2024), commodity cost swings (steel +18% 2024; phosphoric acid +12–15% 2023–24), INR swings (~6% 2025) and strong domestic capex\/GDP (GDP 7.3% FY2024; IIP +4.6% Dec 2025) affecting volumes and margins.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eRepo shift 2022–24\u003c\/td\u003e\n\u003ctd\u003e+250bps\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAgriculture share\u003c\/td\u003e\n\u003ctd\u003e~18–22% sales FY2024\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSteel change 2024\u003c\/td\u003e\n\u003ctd\u003e+18%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eINR volatility 2025\u003c\/td\u003e\n\u003ctd\u003e~6% swing\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGDP FY2024\u003c\/td\u003e\n\u003ctd\u003e7.3%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003eSame Document Delivered\u003c\/span\u003e\u003cbr\u003eThe Murugappa Group PESTLE Analysis\u003c\/h2\u003e\n\u003cp\u003eThe preview shown here is the exact document you’ll receive after purchase—fully formatted and ready to use; it contains the complete PESTLE analysis for The Murugappa Group with all sections, insights, and formatting intact.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e","brand":"MatrixBCG","offers":[{"title":"Default Title","offer_id":56751751430521,"sku":"murugappa-pestle-analysis","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0911\/3554\/1625\/files\/murugappa-pestle-analysis.png?v=1772234451","url":"https:\/\/matrixbcg.com\/products\/murugappa-pestle-analysis","provider":"MatrixBCG","version":"1.0","type":"link"}