CGVD.L Regulatory News (CGVD)

PART I STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2014 (₹ in crore) Sr. Particulars Quarter ended Year ended No. 30.06.2014 31.03.2014 30.06.2013 31.03.2014 Unaudited Audited Unaudited Audited 1 Income from operations (a) Net sales / Income from operations 1904.69 2056.56 1840.69 7570.70 (Net of excise duty) (b) Other operating income - - - - Total income from operations (net) 1904.69 2056.56 1840.69 7570.70 2 Expenses (a) Cost of materials consumed 839.14 985.93 878.56 3617.52 (b) Purchases of stock-in-trade 582.93 513.27 542.75 1993.21 (c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (18.79) 23.16 (51.67) (12.77) (d) Employee benefits expense 131.97 126.42 113.43 476.36 (e) Depreciation and amortisation expense 23.89 24.53 21.18 89.35 (f) Other expenses 198.40 222.63 205.23 830.54 Total expenses 1757.54 1895.94 1709.48 6994.21 3 Profit from operations before other income, finance costs and exceptional items 147.15 160.62 131.21 576.49 4 Other income 20.25 25.18 29.83 113.94 5 Profit from ordinary activities before finance costs and exceptional items 167.40 185.80 161.04 690.43 6 Finance costs (net) (4.20) (3.81) (6.60) (22.02) 7 Profit from ordinary activities after finance costs but before exceptional items 171.60 189.61 167.64 712.45 8 Exceptional items - - - - 9 Profit from ordinary activities before tax 171.60 189.61 167.64 712.45 10 Tax expense 45.04 63.49 43.01 191.36 11 Net profit from ordinary activities after tax 126.56 126.12 124.63 521.09 12 Extraordinary items (net of tax expense ₹ Nil) - - - - 13 Net profit for the period / year 126.56 126.12 124.63 521.09 14 Paid-up equity share capital 125.35 125.35 128.30 125.35 (Face value of equity share of ` 2 each) 15 Reserves excluding Revaluation Reserve as per balance sheet of previous accounting year 3217.10 16 Earnings Per Share (before extraordinary items) (of ₹2 each) (Not annualised) (a) Basic 2.02 1.99 1.94 8.23 (b) Diluted 2.02 1.99 1.94 8.23 Earnings Per Share (after extraordinary items) (of ` 2 each) (Not annualised) (a) Basic 2.02 1.99 1.94 8.23 (b) Diluted 2.02 1.99 1.94 8.23 PART II SELECT INFORMATION FOR THE QUARTER ENDED 30TH JUNE, 2014 Sr. Particulars Quarter ended Year ended No. 30.06.2014 31.03.2014 30.06.2013 31.03.2014 A PARTICULARS OF SHAREHOLDING 1 Public shareholding* - Number of shares 359295072 359295072 374040466 359295072 - Percentage of shareholding 57.33 57.33 58.31 57.33 2 Promoters and Promoter Group Shareholding (a) Pledged / Encumbered - Number of shares 158413400 153637930 171638500 153637930 - Percentage of shares 59.23 57.45 64.18 57.45 (as a % of the total shareholding of promoter and promoter group) - Percentage of shares 25.27 24.51 26.76 24.51 (as a % of the total share capital of the Company) (b) Non-encumbered - Number of shares 109037670 113813140 95812570 113813140 - Percentage of shares 40.77 42.55 35.82 42.55 (as a % of the total shareholding of promoter and promoter group) - Percentage of shares 17.40 18.16 14.93 18.16 (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 30.06.2014 Pending at the beginning of the quarter NIL Received during the quarter 1 Disposed of during the quarter 1 Remaining unresolved at the end of the quarter NIL STANDALONE SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER ENDED 30TH JUNE, 2014 (₹ in crore)Sr. Particulars Quarter ended Year endedNo. 30.06.2014 31.03.2014 30.06.2013 31.03.2014 Unaudited Audited Unaudited Audited 1. Segment Revenue (net of excise duty): (a) Power Systems 591.59 860.90 567.22 2843.07 (b) Consumer Products 861.07 759.86 804.57 2898.50 (c) Industrial Systems 346.46 368.11 373.11 1499.08 (d) Others 118.16 79.34 110.10 384.70 Total 1917.28 2068.21 1855.00 7625.35 Less: Inter-Segment Revenue 12.59 11.65 14.31 54.65 Total income from operations (net) 1904.69 2056.56 1840.69 7570.70 2. Segment Results: [Profit / (loss) before tax and finance costs from each segment] (a) Power Systems 47.20 80.73 45.89 258.52 (b) Consumer Products 108.71 90.67 93.98 337.46 (c) Industrial Systems 30.38 30.87 42.48 152.87 (d) Others (4.27) 1.37 (4.40) 1.88 Total 182.02 203.64 177.95 750.73 Less: (i) Finance costs (net) (4.20) (3.81) (6.60) (22.02) (ii) Other un-allocable expenditure net of un-allocable income 14.62 17.84 16.91 60.30 Profit from ordinary activities before tax 171.60 189.61 167.64 712.45 3. Capital Employed: (Segment Assets - Segment Liabilities) (a) Power Systems 943.28 851.65 948.43 851.65 (b) Consumer Products 88.49 121.16 108.90 121.16 (c) Industrial Systems 370.80 396.76 390.90 396.76 (d) Others 220.79 189.36 96.32 189.36 (e) Unallocable 1963.75 1901.61 1721.29 1901.61 Total 3587.11 3460.54 3265.84 3460.54 Notes on standalone financial results: 1. The above unaudited standalone results have been reviewed by the AuditCommittee and approved by the Board of Directors at its meeting held on 5thAugust, 2014. The statutory auditors have carried out a limited review of thefinancials of the Company as required under Clause 41 of the Listing Agreementand the related report is being forwarded to the Stock Exchanges. 2. The Board of Directors at its meeting held on 16th July, 2014 had proposedto demerge the Consumer Products business Unit into a separate listed Company.The Board believes that this demerger will create better growth opportunitiesfor Company's two large, but, significantly different businesses, Power andIndustrial which are B2B business, and the Consumer Products business which isB2C. The Board has constituted a Committee of Directors to examine allrelevant aspects of the process of demerger and listing and make suitablerecommendations to the Board. 3. Pursuant to enactment of the Companies Act, 2013 and its applicability foraccounting periods commencing from 1st April, 2014, the Company has revisedits policy of providing depreciation on fixed assets as per Schedule II to theAct. Depreciation is now provided over the remaining useful life of fixedassets for all assets as against policy of providing on written down valuebasis for some assets and straight line basis for others. Consequently, thedepreciation for the quarter ended 30th June, 2014 is higher and the profitbefore tax is lower to the extent of ₹ 1.22 crore. Further, an amount of ₹1.47 crore (net of tax) representing the carrying amount of the assets withrevised useful life as nil, has been charged to opening reserves as on 1stApril, 2014. 4. Figures of the previous quarters / year have been regrouped andreclassified, wherever necessary. For Crompton Greaves LimitedPlace: Mumbai Laurent DemortierDate: 5th August, 2014 CEO & Managing Director STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2014 (` in crore)Sr. Particulars Quarter ended Year endedNo. 30.06.2014 31.03.2014 30.06.2013 31.03.2014 Unaudited Audited Unaudited Audited 1 Income from operations (a) Net Sales / Income from operations 3441.54 3806.08 3194.79 13631.53 (Net of excise duty) (b) Other operating income - - - - Total income from operations (net) 3441.54 3806.08 3194.79 13631.53 2 Expenses (a) Cost of materials consumed 1691.54 1845.93 1789.10 7193.12 (b) Purchases of stock-in-trade 582.93 513.27 542.75 1993.21 (c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 37.65 169.00 (133.23) (51.07) (d) Employee benefits expense 507.12 507.87 449.17 1952.06 (e) Depreciation and amortisation expense 67.05 71.35 52.73 262.14 (f) Other expenses 449.52 581.91 402.24 1862.24 Total expenses 3335.81 3689.33 3102.76 13211.70 3 Profit from operations before other income, finance costs and exceptional items 105.73 116.75 92.03 419.83 4 Other income 38.57 84.00 35.32 171.55 5 Profit from ordinary activities before finance costs and exceptional items 144.30 200.75 127.35 591.38 6 Finance costs (net) 24.46 30.48 20.14 96.66 7 Profit from ordinary activities after finance costs but before exceptional items 119.84 170.27 107.21 494.72 8 Exceptional items - - - - 9 Profit from ordinary activities before tax 119.84 170.27 107.21 494.7210 Tax expense 54.96 89.77 46.38 236.0511 Net profit / (loss) from ordinary activities after tax 64.88 80.50 60.83 258.6712 Extraordinary items (net of tax expense ₹ Nil) - - - -13 Net profit / (loss) for the period / year 64.88 80.50 60.83 258.6714 Share of profit / (loss) in associates (net) (0.80) (17.20) (1.76) (15.02)15 Minority interest (0.06) 0.52 1.01 0.6816 Net profit / (loss) after taxes,minority interest and share of profit / (loss) of associates (net) 64.02 63.82 60.08 244.3317 Paid-up equity share capital 125.35 125.35 128.30 125.35 (Face value of equity share of ` 2 each)18 Reserves excluding Revaluation Reserve as per the balance sheet of previous accounting year 3489.3119 Earnings Per Share (before extraordinary items) (of ` 2 each) (Not annualised) (a) Basic 1.02 1.01 0.94 3.86 (b) Diluted 1.02 1.01 0.94 3.86 Earnings Per Share (after extraordinary items) (of ` 2 each) (Not annualised) CONSOLIDATED SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER ENDED 30TH JUNE, 2014 ` in croreSr. Particulars Quarter endedNo. 30.06.2014 31.03.2014 30.06.2013 31.03.2014 Unaudited Audited Unaudited Audited 1. Segment Revenue (net of excise duty): (a) Power Systems 2019.27 2518.11 1829.48 8536.11 (b) Consumer Products 861.07 759.86 804.57 2898.50 (c) Industrial Systems 452.59 459.02 462.07 1857.38 (d) Others 121.20 80.74 112.98 394.19 Total 3454.13 3817.73 3209.10 13686.18 Less: Inter-Segment Revenue 12.59 11.65 14.31 54.65 Total income from operations (net) 3441.54 3806.08 3194.79 13631.53 2. Segment Results: [Profit / (loss) before tax and finance costs from each segment] (a) Power Systems 35.64 112.76 27.23 234.08 (b) Consumer Products 108.71 90.67 93.98 337.46 (c) Industrial Systems 30.81 26.73 38.57 128.24 (d) Others (3.95) 1.54 (4.00) 2.31 Total 171.21 231.70 155.78 702.09 Less: (i) Finance costs (net) 24.46 30.48 20.14 96.66 (ii) Other un-allocable expenditure net of un-allocable income 26.91 30.95 28.43 110.71 Profit / (loss) from ordinary activities before exceptional items and tax 119.84 170.27 107.21 494.72 3. Capital Employed: (Segment Assets - Segment Liabilities) (a) Power Systems 3999.12 3898.51 3905.11 3898.51 (b) Consumer Products 88.49 121.16 108.90 121.16 (c) Industrial Systems 940.87 950.96 899.84 950.96 (d) Others 243.66 211.72 119.18 211.72 (e) Unallocable 701.52 716.78 782.41 716.78 Total 5973.66 5899.13 5815.44 5899.13 Notes on consolidated financial results: 1. The above unaudited consolidated financial results have been reviewed bythe Audit Committee and approved by the Board of Directors at its meeting heldon 5th August, 2014. 2. Figures of the previous quarters / year have been regrouped andreclassified, wherever necessary. For Crompton Greaves LimitedPlace: Mumbai Laurent DemortierDate: 5th August, 2014 CEO & Managing Director