17 Aug 2015 07:00
CROMPTON GREAVES LD - 1st Quarter ResultsCROMPTON GREAVES LD - 1st Quarter Results
PR Newswire
London, August 10
| PART I | ||||||||||
| STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2015 | ||||||||||
| (? in crore) | ||||||||||
| Sr. No. | Particulars | Quarter ended | Previous year ended | |||||||
| 30.06.2015 | 31.03.2015 | 30.06.2014 | 31.03.2015 | |||||||
| Unaudited | Audited | Unaudited | Audited | |||||||
| 1 | Income from operations | |||||||||
| (a) Net sales / Income from operations | 1840.47 | 2147.62 | 1905.09 | 7837.02 | ||||||
| (Net of excise duty) | ||||||||||
| (b) Other operating income | - | - | - | - | ||||||
| Total income from operations (net) | 1840.47 | 2147.62 | 1905.09 | 7837.02 | ||||||
| 2 | Expenses | |||||||||
| (a) Cost of materials consumed | 892.71 | 988.69 | 839.56 | 3637.19 | ||||||
| (b) Purchases of stock-in-trade | 617.93 | 594.73 | 582.93 | 2158.75 | ||||||
| (c) Changes in inventories of finished goods, work-in-progress and stock-in-trade | (139.84) | 53.28 | (19.55) | 26.09 | ||||||
| (d) Employee benefits expense | 138.50 | 133.21 | 132.72 | 522.98 | ||||||
| (e) Depreciation and amortisation expense | 25.77 | 23.66 | 24.13 | 96.39 | ||||||
| (f) Other expenses | 220.37 | 224.94 | 198.72 | 838.69 | ||||||
| Total expenses | 1755.44 | 2018.51 | 1758.51 | 7280.09 | ||||||
| 3 | Profit from operations before | |||||||||
| other income, finance costs, exchange gain / (loss) and exceptional items | 85.03 | 129.11 | 146.58 | 556.93 | ||||||
| 4 | Other income | 30.02 | 31.98 | 12.72 | 105.68 | |||||
| 5 | Profit from ordinary activities before finance costs, exchange gain / (loss) and exceptional items | 115.05 | 161.09 | 159.30 | 662.61 | |||||
| 6 | Finance costs (net) | (9.24) | (7.40) | (4.14) | (24.25) | |||||
| 7 | Profit from ordinary activities after finance costs but before exchange gain / (loss) and exceptional items | 124.29 | 168.49 | 163.44 | 686.86 | |||||
| 8 | Exchange gain / (loss) | 52.84 | (44.83) | 7.53 | (47.42) | |||||
| 9 | Exceptional items (net) - Income / (loss) | (1.10) | (7.49) | - | 260.05 | |||||
| 10 | Profit from ordinary activities before tax | 176.03 | 116.17 | 170.97 | 899.49 | |||||
| 11 | Tax expense | 49.68 | 31.36 | 45.04 | 168.35 | |||||
| 12 | Net profit from ordinary activities after tax | 126.35 | 84.81 | 125.93 | 731.14 | |||||
| 13 | Extraordinary items (net of tax expense ? Nil) | - | - | - | - | |||||
| 14 | Net profit for the period / year | 126.35 | 84.81 | 125.93 | 731.14 | |||||
| 15 | Paid-up equity share capital | 125.35 | 125.35 | 125.35 | 125.35 | |||||
| (Face value of equity share of ` 2 each) | ||||||||||
| 16 | Reserves excluding Revaluation Reserve as per balance sheet of previous accounting year | 3873.50 | ||||||||
| 17 | Earnings Per Share (before extraordinary items) (of ? 2 each) (Not annualised) | |||||||||
| (a) Basic | 2.02 | 1.35 | 2.01 | 11.67 | ||||||
| (b) Diluted | 2.02 | 1.35 | 2.01 | 11.67 | ||||||
| Earnings Per Share (after extraordinary items) (of ` 2 each) (Not annualised) | ||||||||||
| (a) Basic | 2.02 | 1.35 | 2.01 | 11.67 | ||||||
| (b) Diluted | 2.02 | 1.35 | 2.01 | 11.67 | ||||||
| PART II | ||||||||||
| SELECT INFORMATION FOR THE QUARTER ENDED 30TH JUNE, 2015 | ||||||||||
| Sr. No. | Particulars | Quarter ended | Previous year ended | |||||||
| 30.06.2015 | 31.03.2015 | 30.06.2014 | 31.03.2015 | |||||||
| A | PARTICULARS OF SHAREHOLDING | |||||||||
| 1 | Public shareholding* | |||||||||
| - Number of shares | 411295072 | 411295072 | 359295072 | 411295072 | ||||||
| - Percentage of shareholding | 65.62 | 65.62 | 57.33 | 65.62 | ||||||
| 2 | Promoters and Promoter Group | |||||||||
| Shareholding | ||||||||||
| (a) Pledged / Encumbered | ||||||||||
| - Number of shares | 143054975 | 141586975 | 158413400 | 141586975 | ||||||
| - Percentage of shares | 66.40 | 65.72 | 59.23 | 65.72 | ||||||
| (as a % of the total | ||||||||||
| shareholding of promoter and | ||||||||||
| promoter group) | ||||||||||
| - Percentage of shares | 22.83 | 22.59 | 25.27 | 22.59 | ||||||
| (as a % of the total | ||||||||||
| share capital of the Company) | ||||||||||
| (b) Non-encumbered | ||||||||||
| - Number of shares | 72396095 | 73864095 | 109037670 | 73864095 | ||||||
| - Percentage of shares | 33.60 | 34.28 | 40.77 | 34.28 | ||||||
| (as a % of the total | ||||||||||
| shareholding of promoter and | ||||||||||
| promoter group) | ||||||||||
| - Percentage of shares | 11.55 | 11.79 | 17.40 | 11.79 | ||||||
| (as a % of the total | ||||||||||
| share capital of the Company) | ||||||||||
| (*Public Shareholding includes shares held by custodians of Global Depository Receipts issued) | ||||||||||
| Particulars | 3 months ended | |||||||||
| B | INVESTOR COMPLAINTS | 30.06.2015 | ||||||||
| Pending at the beginning of the quarter | Nil | |||||||||
| Received during the quarter | 2 | |||||||||
| Disposed of during the quarter | 2 | |||||||||
| Remaining unresolved at the end of the quarter | Nil | |||||||||
| STANDALONE SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED | ||||||||||
| FOR THE QUARTER ENDED 30TH JUNE, 2015 | ||||||||||
| (? in crore) | ||||||||||
| Sr. No. | Particulars | Quarter ended | Previous year ended | |||||||
| 30.06.2015 | 31.03.2015 | 30.06.2014 | 31.03.2015 | |||||||
| Unaudited | Audited | Unaudited | Audited | |||||||
| 1. | Segment Revenue (net of excise duty): | |||||||||
| (a) Power Systems | 390.22 | 776.67 | 591.99 | 2734.06 | ||||||
| (b) Consumer Products | 970.82 | 905.26 | 861.07 | 3232.65 | ||||||
| (c) Industrial Systems | 381.69 | 387.54 | 346.46 | 1504.44 | ||||||
| (d) Others | 108.18 | 89.27 | 118.16 | 406.96 | ||||||
| Total | 1850.91 | 2158.74 | 1917.68 | 7878.11 | ||||||
| Less: Inter-Segment Revenue | 10.44 | 11.12 | 12.59 | 41.09 | ||||||
| Total income from operations (net) | 1840.47 | 2147.62 | 1905.09 | 7837.02 | ||||||
| 2. | Segment Results: | |||||||||
| [Profit / (loss) before tax and finance | ||||||||||
| costs from each segment] | ||||||||||
| (a) Power Systems | (26.55) | 64.55 | 46.63 | 222.64 | ||||||
| (b) Consumer Products | 138.78 | 121.47 | 108.71 | 407.33 | ||||||
| (c) Industrial Systems | 34.74 | 39.28 | 30.38 | 151.98 | ||||||
| (d) Others | (20.30) | (25.17) | (4.27) | (39.00) | ||||||
| Total | 126.67 | 200.13 | 181.45 | 742.95 | ||||||
| Less: | ||||||||||
| (i) Finance costs (net) | (9.24) | (7.40) | (4.14) | (24.25) | ||||||
| (ii) Other un-allocable expenditure | ||||||||||
| net of un-allocable income | 11.62 | 39.04 | 22.15 | 80.34 | ||||||
| Profit from ordinary activities | ||||||||||
| before exchange gain / (loss), | ||||||||||
| exceptional items and tax | 124.29 | 168.49 | 163.44 | 686.86 | ||||||
| 3. | Capital Employed: | |||||||||
| (Segment Assets - Segment Liabilities) | ||||||||||
| (a) Power Systems | 1116.23 | 1225.06 | 953.22 | 1225.06 | ||||||
| (b) Consumer Products | (552.95) | (559.18) | 88.49 | (559.18) | ||||||
| (c) Industrial Systems | 389.76 | 406.71 | 370.80 | 406.71 | ||||||
| (d) Others | 211.92 | 237.04 | 220.79 | 237.04 | ||||||
| (e) Unallocable | 3037.18 | 2790.05 | 1940.81 | 2790.05 | ||||||
| Total | 4202.14 | 4099.68 | 3574.11 | 4099.68 | ||||||
Notes on standalone financial results:
The above unaudited standalone results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 24th July, 2015. The statutory auditors have carried out a limited review of the financials of the Company as required under Clause 41 of the Listing Agreement and the related report is being forwarded to the Stock Exchanges.
Exceptional item of current quarter represent compensation to employees pursuant to Voluntary Retirement Scheme amounting to ` 1.10 crore.
In line with Accounting Standard (AS) 24 Discontinuing Operations, the financial results of Consumer Products Business are given below:
| (` in crore) | ||||
| Particulars with respect to Discontinuing Operation | Quarter ended | Year ended | ||
| 30.06.2015 | 31.03.2015 | 30.06.2014 | 31.03.2015 | |
| Net Sales/ Income from operations | 970.82 | 905.26 | 861.07 | 3232.65 |
| Profit from ordinary activities before tax | 120.56 | 114.15 | 107.74 | 397.12 |
| Net profit from ordinary activities after tax | 80.53 | 76.91 | 73.20 | 269.44 |
4. Figures of the previous quarters / year have been regrouped, wherever necessary.
For Crompton Greaves Limited
Place: Mumbai Laurent DemortierDate: 24th July, 2015 CEO & Managing Director
| STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2015 | |||||
| (` in crore) | |||||
| Sr. | Particulars | Quarter ended | Previous year ended | ||
| No. | 30.06.2015 | 31.03.2015 | 30.06.2014 | 31.03.2015 | |
| Unaudited | Audited | Unaudited | Audited | ||
| 1 | Income from operations | ||||
| (a) Net Sales / Income from operations | 3165.80 | 3808.07 | 3441.54 | 14013.14 | |
| (Net of excise duty) | |||||
| (b) Other operating income | - | - | - | - | |
| Total income from operations (net) | 3165.80 | 3808.07 | 3441.54 | 14013.14 | |
| 2 | Expenses | ||||
| (a) Cost of materials consumed | 1694.31 | 1819.72 | 1691.54 | 7211.06 | |
| (b) Purchases of stock-in-trade | 623.62 | 601.28 | 582.93 | 2185.58 | |
| (c) Changes in inventories of finished | |||||
| goods, work-in-progress and stock-in-trade | (157.78) | 176.14 | 37.65 | 133.87 | |
| (d) Employee benefits expense | 472.07 | 504.18 | 507.12 | 1993.56 | |
| (e) Depreciation and amortisation expense | 68.01 | 62.29 | 67.05 | 262.03 | |
| (f) Other expenses | 454.49 | 559.83 | 449.52 | 1846.63 | |
| Total expenses | 3154.72 | 3723.44 | 3335.81 | 13632.73 | |
| 3 | Profit from operations before other income, finance costs, exchange gain / (loss) and exceptional items | ||||
| 11.08 | 84.63 | 105.73 | 380.41 | ||
| 4 | Other income | 45.56 | 18.89 | 31.04 | 127.39 |
| 5 | Profit from ordinary activities before finance costs, exchange gain / (loss) and exceptional items | 56.64 | 103.52 | 136.77 | 507.80 |
| 6 | Finance costs (net) | 27.99 | 29.78 | 24.46 | 104.69 |
| 7 | Profit from ordinary activities after finance costs, but before exchange gain / (loss) and exceptional items | 28.65 | 73.74 | 112.31 | 403.11 |
| 8 | Exchange gain / (loss) | 52.84 | (44.83) | 7.53 | (47.42) |
| 9 | Exceptional items (net) - income / (loss) | (1.10) | (177.16) | - | 90.38 |
| 10 | Profit from ordinary activities before prior period items and tax | 80.39 | (148.25) | 119.84 | 446.07 |
| 11 | Prior period items | - | (17.72) | - | (17.72) |
| 12 | Profit from ordinary activities after prior period items and before tax | 80.39 | (165.97) | 119.84 | 428.35 |
| 13 | Tax expense | 65.30 | 33.56 | 54.96 | 221.99 |
| 14 | Net profit / (loss) from ordinary activities after tax | 15.09 | (199.53) | 64.88 | 206.36 |
| 15 | Extraordinary items (net of tax expense ? Nil) | - | - | - | - |
| 16 | Net profit / (loss) for the period / year | 15.09 | (199.53) | 64.88 | 206.36 |
| 17 | Share of profit / (loss) in associates (net) | 0.89 | 1.15 | (0.80) | 1.55 |
| 18 | Minority interest | 0.03 | (0.17) | (0.06) | 1.44 |
| 19 | Net profit / (loss) after taxes,minority interest and share of profit / (loss) of associates (net) | 16.01 | (198.55) | 64.02 | 209.35 |
| 20 | Paid-up equity share capital | 125.35 | 125.35 | 125.35 | 125.35 |
| (Face value of equity share of ` 2 each) | |||||
| 21 | Reserves excluding Revaluation Reserve as per the balance sheet of previous accounting year | 3663.51 | |||
| 22 | Earnings Per Share (before extraordinary items) (of ` 2 each) (not annualised) | ||||
| (a) Basic | 0.26 | (3.17) | 1.02 | 3.34 | |
| (b) Diluted | 0.26 | (3.17) | 1.02 | 3.34 | |
| Earnings Per Share (after extraordinary items) (of ` 2 each) (not annualised) | |||||
| (a) Basic | 0.26 | (3.17) | 1.02 | 3.34 | |
| (b) Diluted | 0.26 | (3.17) | 1.02 | 3.34 | |
| CONSOLIDATED SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED | |||||
| FOR THE QUARTER ENDED 30TH JUNE, 2015 | |||||
| (` in crore) | |||||
| Sr. No. | Particulars | Quarter ended | Previous year ended | ||
| 30.06.2015 | 31.03.2015 | 30.06.2014 | 31.03.2015 | ||
| Unaudited | Audited | Unaudited | Audited | ||
| 1. | Segment Revenue (net of excise duty): | ||||
| (a) Power Systems | 1635.30 | 2350.33 | 2019.27 | 8573.96 | |
| (b) Consumer Products | 970.82 | 905.26 | 861.07 | 3232.65 | |
| (c) Industrial Systems | 458.66 | 472.18 | 452.59 | 1840.93 | |
| (d) Others | 111.70 | 91.42 | 121.20 | 418.74 | |
| Total | 3176.48 | 3819.19 | 3454.13 | 14066.28 | |
| Less: Inter-Segment Revenue | 10.68 | 11.12 | 12.59 | 53.14 | |
| Total income from operations (net) | 3165.80 | 3808.07 | 3441.54 | 14013.14 | |
| 2. | Segment Results: | ||||
| [Profit / (loss) before tax and finance | |||||
| costs from each segment] | |||||
| (a) Power Systems | (71.65) | 20.83 | 35.64 | 134.93 | |
| (b) Consumer Products | 138.66 | 118.60 | 108.71 | 401.35 | |
| (c) Industrial Systems | 34.09 | 38.67 | 30.81 | 140.04 | |
| (d) Others | (20.10) | (23.71) | (3.95) | (37.86) | |
| Total | 81.00 | 154.39 | 171.21 | 638.46 | |
| Less: | |||||
| (i) Finance costs (net) | 27.99 | 29.78 | 24.46 | 104.69 | |
| (ii) Other un-allocable expenditure | |||||
| net of un-allocable income | 24.36 | 50.87 | 34.44 | 130.66 | |
| Profit / (loss) from ordinary activities before exchange gain / (loss), exceptional items, prior period items and tax | 28.65 | 73.74 | 112.31 | 403.11 | |
| 3. | Capital Employed: | ||||
| (Segment Assets - Segment Liabilities) | |||||
| (a) Power Systems | 4076.74 | 4086.05 | 3999.12 | 4086.05 | |
| (b) Consumer Products | (552.84) | (559.06) | 88.49 | (559.06) | |
| (c) Industrial Systems | 903.08 | 890.88 | 940.87 | 890.88 | |
| (d) Others | 219.50 | 251.16 | 243.66 | 251.16 | |
| (e) Unallocable | 1036.24 | 1103.31 | 701.52 | 1103.31 | |
| Total | 5682.72 | 5772.34 | 5973.66 | 5772.34 | |
Notes on consolidated financial results:
1. The above unaudited consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 24th July, 2015.
2. In line with Accounting Standard (AS) 24 Discontinuing Operations, the financial results of Consumer Products Business are given below:
| (` in crore) | ||||
| Particulars with respect to Discontinuing Operation | Quarter ended | Year ended | ||
| 30.06.2015 | 31.03.2015 | 30.06.2014 | 31.03.2015 | |
| Net Sales/ Income from operations | 970.82 | 905.26 | 861.07 | 3232.65 |
| Profit from ordinary activities before tax | 120.44 | 111.29 | 107.74 | 394.26 |
| Net profit from ordinary activities after tax | 80.46 | 75.02 | 73.20 | 267.55 |
3. Figures of the previous quarters / year have been regrouped, wherever necessary.
For Crompton Greaves Limited
Place: Mumbai Laurent DemortierDate: 24th July, 2015 CEO & Managing Director