CGVD.L Regulatory News (CGVD)

PART I

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER, 2012

` in croreSr. Particulars Quarter ended Nine months ended Year endedNo. 31.12.2012 30.09.2012

31.12.2011 31.12.2012 31.12.2011 31.03.2012

Unaudited Unaudited

Unaudited Unaudited Unaudited Audited

1 Income from operations

Net sales / Income from operations 1746.05 1670.21

1624.46 5075.43 4544.76 6485.38

(Net of excise duty) Net Sales / Income from operations 1746.05 1670.21

1624.46 5075.43 4544.76 6485.38

2 Expenses

(a) Cost of materials consumed 855.63 841.24

870.80 2585.47 2470.96 3467.62

(b) Purchases of stock-in-trade 453.45 384.41

314.55 1259.18 854.42 1265.47

(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 6.80 (3.28)

1.15 (84.60) (48.44) (7.39)

(d) Employee benefits 101.17 100.96 90.94 303.55 271.95 363.59 (e) Depreciation and amortisation 18.01 17.50 16.90 52.56 72.19 90.71 (f) Other expenses 196.46 199.87 171.73 564.27 472.52 675.41 Total expenses 1631.52 1540.70 1466.07 4680.43 4093.60 5855.41 3 Profit from operations before other income and finance costs 114.53 129.51 158.39 395.00 451.16 629.97 4 Other income 25.97 14.67 13.51 49.06 45.99 50.41 5 Profit before finance costs 140.50 144.18 171.90 444.06 497.15 680.38 6 Finance costs (3.23) (5.93) (2.36) (11.56) (0.88) 3.68 7 Profit from ordinary activities after finance costs before tax 143.73 150.11 174.26 455.62 498.03 676.70 8 Tax expense 37.57 38.42 47.61 117.50 130.04 171.84 9 Net profit from ordinary activities after tax 106.16 111.69 126.65 338.12 367.99 504.86 10 Paid-up equity share capital (Face value of equity share of ` 2 each) 128.30 128.30 128.30 128.30 128.30 128.30 11 Reserves excluding Revaluation Reserve as per balance sheet of previous accounting year 2558.56 12 Earnings Per Share (of ` 2 each) 1.66 1.74 1.98 5.27 5.74 7.87 Basic and diluted (Not annualised)PART II SELECT INFORMATION FOR THE QUARTER AND NINE MONTHS ENDED

31ST DECEMBER, 2012

Sr. Particulars Quarter ended Nine months ended Year endedNo. 31.12.2012 30.09.2012 31.12.2011

31.12.2012 31.12.2011 31.03.2012

A PARTICULARS OF SHAREHOLDING

1 Public shareholding *

- Number of shares 374040466 374040466 374040833

374040466 374040833 374040466

- Percentage of shareholding 58.31 58.31 58.31 58.31 58.31 58.31 2 Promoters and promoter group Shareholding a) Pledged / Encumbered - Number of shares 127997000 92732000 13855300

127997000 13855300 13855300

- Percentage of shares 47.86 34.67 5.18 47.86 5.18 5.18 (as a percentage of the total shareholding of promoter and promoter group) - Percentage of shares 19.95 14.46 2.16 19.95 2.16 2.16 (as a percentage of the total share capital of the Company) b) Non-encumbered - Number of shares 139454070 174719070 253595403

139454070 253595403 253595770

- Percentage of shares 52.14 65.33 94.82 52.14 94.82 94.82 (as a percentage of the total shareholding of promoter and promoter group) - Percentage of shares 21.74 27.23 39.53 21.74 39.53 39.53 (as a percentage of the total share capital of the Company) Public Shareholding includes shares held by custodians of Global Depository* Receipts issued. Particulars Quarter endedB INVESTOR COMPLAINTS 31.12.2012 Pending at the beginning of the quarter Nil Received during the quarter Nil Disposed off during the quarter Nil Remaining unresolved at the end of the quarter Nil TANDALONE SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER, 2012 ` in croreSr. Particulars Quarter ended Nine months ended Year endedNo. 31.12.2012 30.09.2012

31.12.2011 31.12.2012 31.12.2011 31.03.2012

Unaudited Unaudited

Unaudited Unaudited Unaudited Audited

1. Segment Revenue (net of excise duty):

(a) Power Systems 670.13 623.59

701.83 1888.55 1869.24 2747.42

(b) Consumer Products 606.96 584.39

503.28 1845.05 1527.09 2133.62

(c) Industrial Systems 376.42 389.21 388.61 1104.22 1126.90 1520.08 (d) Others 103.14 91.21 54.33 280.09 60.16 129.90 Total 1756.65 1688.40 1648.05 5117.91 4583.39 6531.02 Less: Inter Segment Revenue 10.60 18.19

23.59 42.48 38.63 45.64

Net Sales / Income from operations 1746.05 1670.21 1624.46 5075.43 4544.76 6485.38

2. Segment Results:

[Profit before tax and finance costs

from each segment]

(a) Power Systems 53.04 61.69

78.21 171.19 217.29 319.75

(b) Consumer Products 63.33 55.68

59.26 204.04 188.90 262.88

(c) Industrial Systems 57.62 60.13 56.70 160.73 173.33 225.40 (f) Others 2.37 6.46 3.05 12.63 3.46 (7.90) Total 176.36 183.96 197.22 548.59 582.98 800.13 Less: (i) Finance costs (3.23) (5.93) (2.36) (11.56) (0.88) 3.68

(ii) Other un-allocable expenditure

net of un-allocable income 35.86 39.78

25.32 104.53 85.83 119.75

Profit from Ordinary Activities

before tax 143.73 150.11

174.26 455.62 498.03 676.70

3. Capital Employed:

(Segment Assets - Segment Liabilities)

(a) Power Systems 918.91 924.57

842.89 918.91 842.89 837.58

(b) Consumer Products 74.51 67.01

110.86 74.51 110.86 92.02

(c) Industrial Systems 402.25 429.02 345.04 402.25 345.04 399.92 (f) Others 1664.91 1502.15 1408.29 1664.91 1408.29 1422.04 Total 3060.58 2922.75 2707.08 3060.58 2707.08 2751.56

Notes on standalone financial results:

1. The above unaudited standalone financial results have been reviewed by theAudit Committee and approved by the Board of Directors at its meeting held on29th January, 2013. The statutory auditors have carried out a limited reviewof the financials of the Company as required under Clause 41 of the ListingAgreement and the related report is being forwarded to the Stock Exchanges.2. The Company has, on 14th January, 2013 entered into a definitive agreementfor the acquisition of the Compact Fluorescent Lamps (CFL) business of KarmaIndustries located at Baddi, Himachal Pradesh, at an approximate enterprisevalue of ` 14.5 crore. The acquisition will help the Company to increase itscapacity in CFL business by twofold and will also enable it to better serveits customers and channel partners through expanded reach in the Indianmarket.

3. Figures of the previous periods / year have been regrouped andreclassified, wherever necessary.

For Crompton Greaves LimitedPlace: Mumbai Laurent DemortierDate: 29th January, 2013 CEO & Managing Director 4/7 STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE

QUARTER AND NINE MONTHS ENDED

31ST DECEMBER, 2012 ` in croreSr. Particulars Quarter ended Nine Months ended Year endedNo. 31.12.2012 30.09.2012

31.12.2011 31.12.2012 31.12.2011 31.03.2012

Unaudited Unaudited

Unaudited Unaudited Unaudited Audited

1 Income from operations

Net Sales / Income from operations 2971.83 2924.17

3027.95 8707.14 8171.22 11248.58

(Net of excise duty)

Net Sales / Income from operations 2971.83 2924.17

3027.95 8707.14 8171.22 11248.58

2 Expenses

(a) Cost of materials consumed 1681.21 1640.36

1396.13 5073.08 4761.01 6443.31

(b) Purchases of stock-in-trade 453.45 384.41

327.29 1259.18 867.16 1265.47

(c) Changes in inventories of finished

goods, work-in-progress and stock-in-trade (77.57) (53.38) 406.31 (428.18) (50.43) (23.79) (d) Employee benefits 440.10 441.96 392.93 1302.93 1072.42 1466.21 (e) Depreciation and amortisation 56.57 54.43 62.67 157.61 196.07 259.96 (f) Other expenses 472.63 374.34 322.67 1194.89 930.60 1293.74 Total expenses 3026.39 2842.12 2908.00 8559.51 7776.83 10704.90

3 Profit / (loss) from operations before

other income, finance costs and exceptional

items (54.56) 82.05

119.95 147.63 394.39 543.68

4 Other income 30.35 20.76

15.46 70.30 52.09 52.40

5 Profit from ordinary activities before

finance costs and exceptional items (24.21) 102.81

135.41 217.93 446.48 596.08

6 Finance costs 21.26 18.96

11.23 50.11 32.40 46.34

7 Profit / (loss) from ordinary activities

after finance costs before exceptional items (45.47) 83.85 124.18 167.82 414.08 549.74

8 Exceptional items (120.71) - -

(120.71) - -

9 Profit / (loss) from ordinary activities

before tax (166.18) 83.85 124.18 47.11 414.08 549.7410 Tax expense 22.80 41.38 48.68 108.68 142.51 182.1411 Net profit / (loss) from ordinary activities after tax (188.98) 42.47 75.50 (61.57) 271.57 367.6012 Share of profit / (loss) in associates (net) (0.39) (0.95) 1.31 (0.40) 1.33 5.3413 Minority interest 0.01 0.53 0.33 0.56 0.37 0.6514 Net profit after taxes,minority interest and

share of profit / (loss) of associates (net) (189.36) 42.05 77.14 (61.41) 273.27 373.5915 Paid-up equity share capital

128.30 128.30

128.30 128.30 128.30 128.30

(Face value of equity share of ` 2 each)16 Reserves excluding Revaluation Reserve as per the balance sheet of previous accounting year 3468.6217 Earnings Per Share (of ` 2 each) (2.95) 0.65

1.20 (0.96) 4.26 5.82

Basic and diluted (Not annualised) CONSOLIDATED SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER, 2012 ` in croreSr Particulars Quarter ended Nine Months ended Year endedNo. 31.12.2012

30.09.2012 31.12.2011 31.12.2012 31.12.2011 31.03.2012

Unaudited

Unaudited Unaudited Unaudited Unaudited Audited

1. Segment Revenue (net of excise duty):

(a) Power Systems 1817.67

1781.91 2016.46 5275.88 5294.14 7194.81

(b) Consumer Products 606.96

584.39 503.28 1845.05 1527.09 2133.62

(c) Industrial Systems 451.79 481.58 474.88 1338.42 1320.16 1820.24 (f) Others 106.01 94.48 56.92 290.27 68.46 145.55 Total 2982.43 2942.36 3051.54 8749.62 8209.85 11294.22 Less: Inter Segment Revenue 10.60

18.19 23.59 42.48 38.63 45.64

Net Sales / Income from operations 2971.83

2924.17 3027.95 8707.14 8171.22 11248.58

2. Segment Results:

[Profit / (loss) before tax and finance costs

from each segment]

(a) Power Systems (104.56)

10.00 48.90 (51.78) 182.64 248.53

(b) Consumer Products 63.33

55.68 59.26 204.04 188.90 262.88

(c) Industrial Systems 50.84 70.30 49.44 157.61 156.08 210.28 (f) Others 2.52 6.61 3.60 13.07 5.16 (5.39) Total 12.13 142.59 161.20 322.94 532.78 716.30 Less: (i) Finance costs 21.26 18.96 11.23 50.11 32.40 46.34

(ii) Other un-allocable expenditure

net of un-allocable income 36.34

39.78 25.79 105.01 86.30 120.22

Profit / (loss) from ordinary activities

before exceptional items and tax (45.47)

83.85 124.18 167.82 414.08 549.74

3. Capital Employed:

(Segment Assets - Segment Liabilities)

(a) Power Systems 3734.75

3706.13 2626.94 3734.75 2626.94 2554.00

(b) Consumer Products 74.51

67.01 110.86 74.51 110.86 92.02

(c) Industrial Systems 857.15 845.87 763.96 857.15 763.96 823.43 (e) Others 766.16 707.14 1133.47 766.16 1133.47 1149.89 Total 5432.57 5326.15 4635.23 5432.57 4635.23 4619.34

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 29th January, 2013.

2. The Company has changed its accounting policy effective 1st April, 2012 inrespect of goodwill arising on acquisition of businesses. The company would bedoing an annual impairment testing for goodwill instead of the past practiceof amortization. The Management believes, this change in accounting policyaligns well with leading international practices and reflects enduringbenefits to be derived from goodwill arising on acquisitions.Had the Company not changed the accounting policy as above, depreciation andamortization for the quarter ended 31st December, 2012 and nine months ended31st December, 2012 would have been higher by ` 18.82 crore and ` 56.46 crorerespectively and net profit would have been lower by the same amount.3. The Company has carried out right sizing of its operation in its facilityat Mechelen, Belgium. The process has lead to recognition of liability of `120.71 crore with respect to employee costs which have been considered asexceptional items. In addition, other restructuring related costs aggregatingto ` 108.07 crore were also identified and have been accounted underappropriate operating expense heads.

4. Current period includes, the results of the subsidiaries acquired duringthe period i.e. ZIV Group in Spain. Consequently, figures for the currentperiod are not comparable with the figures of the previous periods / year.Figures for the previous periods / year have been regrouped and reclassified,wherever necessary.

For Crompton Greaves LimitedPlace: Mumbai Laurent DemortierDate: 29th January, 2013 CEO & Managing Director