CGVD.L Regulatory News (CGVD)

PART I STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER, 2014 (₹ in crore) Sr. Particulars Quarter ended Nine months ended Previous No. year ended 31.12.2014 30.09.2014 31.12.2013 31.12.2014 31.12.2013 31.03.2014 Unaudited Unaudited Unaudited Unaudited Unaudited Audited 1 Income from operations (a) Net sales / Income from operations 1858.21 1923.48 1886.72 5686.38 5514.14 7570.70 (Net of excise duty) (b) Other operating income - - - - - - Total income from operations (net) 1858.21 1923.48 1886.72 5686.38 5514.14 7570.70 2 Expenses (a) Cost of materials consumed 900.99 908.77 925.89 2648.90 2631.59 3617.52 (b) Purchases of stock-in-trade 483.88 497.21 485.06 1564.02 1479.94 1993.21 (c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (11.06) 3.23 (22.29) (26.62) (35.93) (12.77) (d) Employee benefits expense 125.20 130.28 121.72 387.45 349.94 476.36 (e) Depreciation and amortisation expense 24.22 23.96 21.95 72.07 64.82 89.35 (f) Other expenses 196.78 217.01 207.05 612.19 607.91 830.54 Total expenses 1720.01 1780.46 1739.38 5258.01 5098.27 6994.21 3 Profit from operations before other income, finance costs and exceptional items 138.20 143.02 147.34 428.37 415.87 576.49 4 Other income 22.35 28.82 29.42 71.42 88.76 113.94 5 Profit from ordinary activities before finance costs and exceptional items 160.55 171.84 176.76 499.79 504.63 690.43 6 Finance costs (net) (9.16) (3.84) (0.91) (17.20) (18.21) (22.02) 7 Profit from ordinary activities after finance costs but before exceptional items 169.71 175.68 177.67 516.99 522.84 712.45 8 Exceptional items (net) - Income 267.54 - - 267.54 - - 9 Profit from ordinary activities before tax 437.25 175.68 177.67 784.53 522.84 712.45 10 Tax expense 42.23 49.72 42.13 136.99 127.87 191.36 11 Net profit from ordinary activities after tax 395.02 125.96 135.54 647.54 394.97 521.09 12 Extraordinary items (net of tax expense ₹ Nil) - - - - - - 13 Net profit for the period / year 395.02 125.96 135.54 647.54 394.97 521.09 14 Paid-up equity share capital 125.35 125.35 125.82 125.35 125.82 125.35 (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 6.30 2.01 2.14 10.33 6.22 8.23 (b) Diluted 6.30 2.01 2.14 10.33 6.22 8.23 Earnings Per Share (after extraordinary items) (of ₹ 2 each) (Not annualised) (a) Basic 6.30 2.01 2.14 10.33 6.22 8.23 (b) Diluted 6.30 2.01 2.14 10.33 6.22 8.23 PART II SELECT INFORMATION FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER, 2014 Sr. Particulars Quarter ended Nine months ended Previous No. year ended 31.12.2014 30.09.2014 31.12.2013 31.12.2014 31.12.2013 31.03.2014 A PARTICULARS OF SHAREHOLDING 1 Public shareholding* - Number of shares 411295072 359295072 361649017 411295072 361649017 359295072 - Percentage of shareholding 65.62 57.33 57.49 65.62 57.49 57.33 2 Promoters and Promoter Group Shareholding (a) Pledged / Encumbered - Number of shares 142508975 164257000 145209602 142508975 145209602 153637930 - Percentage of shares 66.14 61.42 54.29 66.14 54.29 57.45 (as a % of the total shareholding of promoter and promoter group) - Percentage of shares 22.74 26.21 23.08 22.74 23.08 24.51 (as a % of the total share capital of the Company) (b) Non-encumbered - Number of shares 72942095 103194070 122241468 72942095 122241468 113813140 - Percentage of shares 33.86 38.58 45.71 33.86 45.71 42.55 (as a % of the total shareholding of promoter and promoter group) - Percentage of shares 11.64 16.46 19.43 11.64 19.43 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 31.12.2014 Pending at the beginning of the quarter Nil Received during the quarter 4 Disposed of during the quarter 4 Remaining unresolved at the end of the quarter Nil STANDALONE SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER, 2014 (₹ in crore) Sr. Particulars Quarter ended Nine months ended Previous No. year ended 31.12.2014 30.09.2014 31.12.2013 31.12.2014 31.12.2013 31.03.2014 Unaudited Unaudited Unaudited Unaudited Unaudited Audited 1. Segment Revenue (net of excise duty): (a) Power Systems 653.73 709.05 742.52 1954.37 1982.16 2843.07 (b) Consumer Products 723.23 743.09 661.97 2327.39 2138.65 2898.50 (c) Industrial Systems 383.97 386.47 393.93 1116.90 1130.97 1499.08 (d) Others 105.13 94.40 104.80 317.69 305.36 384.70 Total 1866.06 1933.01 1903.22 5716.35 5557.14 7625.35 Less: Inter-Segment Revenue 7.85 9.53 16.50 29.97 43.00 54.65 Total income from operations (net) 1858.21 1923.48 1886.72 5686.38 5514.14 7570.70 2. Segment Results: [Profit / (loss) before tax and finance costs from each segment] (a) Power Systems 52.01 59.43 69.48 158.64 177.79 258.52 (b) Consumer Products 86.62 90.53 75.93 285.86 246.79 337.46 (c) Industrial Systems 40.85 41.47 41.60 112.70 122.00 152.87 (d) Others (4.77) (4.79) 2.17 (13.83) 0.51 1.88 Total 174.71 186.64 189.18 543.37 547.09 750.73 Less: (i) Finance costs (net) (9.16) (3.84) (0.91) (17.20) (18.21) (22.02) (ii) Other un-allocable expenditure net of un-allocable income 14.16 14.80 12.42 43.58 42.46 60.30 Profit from ordinary activities before exceptional items and tax 169.71 175.68 177.67 516.99 522.84 712.45 3. Capital Employed: (Segment Assets - Segment Liabilities) (a) Power Systems 1152.38 1146.01 846.09 1152.38 846.09 851.65 (b) Consumer Products 134.07 100.97 130.78 134.07 130.78 121.16 (c) Industrial Systems 380.83 366.92 380.53 380.83 380.53 396.76 (d) Others 245.43 229.05 139.09 245.43 139.09 189.36 (e) Unallocable 2130.95 1846.69 1898.90 2130.95 1898.90 1901.61 Total 4043.66 3689.64 3395.39 4043.66 3395.39 3460.54Notes on standalone financial results: 1. The above unaudited standalone financial results have beenreviewed by the Audit Committee and approved by the Board of Directors at itsmeeting held on 3rd February, 2015. The statutory auditors have carried out alimited review of the financials of the Company as required under Clause 41 ofthe Listing Agreement and the related report is being forwarded to the stockexchanges. 2. Exceptional items represent profit on sale of portion of land atKanjurmarg, Mumbai, amounting to ₹ 278.15 crore and compensation toemployees pursuant to Voluntary Retirement Scheme amounting to ` 10.61 crore. 3. The Board of Directors of the Company at its meeting held on16th October, 2014 had approved the Scheme of Arrangement between CromptonGreaves Limited (CGL) (Demerged Company) and Crompton Greaves ConsumerProducts Limited (CGCPL) (Resulting Company), a wholly-owned subsidiary,incorporated under the provisions of the Companies Act, 2013 and theirrespective shareholders and creditors. This Scheme, inter alia, envisages thetransfer of the Consumer Products Business and the related assets andliabilities into the Resulting Company and other matters under the provisionsof Sections 391 to 394 read with Section 78 (corresponding Section 52 of theCompanies Act, 2013), Sections 100-103 and other applicable provisions of theCompanies Act, 1956. The proposed Scheme will come into effect from the Appointed Date,i.e. 1st April, 2015, subject to receipt of all regulatory approvals. Upon theimplementation of the proposed Scheme, CGL will hold approximately 25% inCGCPL and the balance will be held directly by the shareholders of CGL. In line with Accounting Standard (AS) 24 Discontinuing Operations,the financial results of Consumer Products Business are given below forinformation: (₹ in crore) Particulars with respect to PreviousDiscontinuing Operation Quarter Ended Nine Months ended year ended 31.12.2014 30.09.2014 31.12.2013 31.12.2014 31.12.2013 31.03.2014Net Sales/ Income from operations 723.23 743.09 661.97 2327.39 2138.65 2898.50Profit from ordinary activities before tax 85.97 89.26 75.02 282.97 243.16 332.89Net profit from ordinary activities after tax 58.56 60.77 53.39 192.53 172.94 236.70 4. Pursuant to enactment of the Companies Act, 2013 and itsapplicability for accounting periods commencing from 1st April, 2014, theCompany has revised its policy of providing depreciation on fixed assets asper Schedule II to the said Act. Depreciation is now provided over theremaining useful life of fixed assets for all assets as against policy ofproviding on written down value basis for some assets and straight line basisfor others. Consequently, the depreciation for the quarter and nine monthsended 31st December, 2014 is higher by ₹ 1.22 crore and ` 3.66 crore,respectively and the profit before tax is lower by the like amounts. Further,an amount of ₹ 1.47 crore (net of tax) representing the carrying amount ofthe assets with revised useful life as nil, has been charged to openingreserves as on 1st April, 2014. 5. The Company has declared second interim dividend of ₹ 0.40 pershare on 626,746,142 Equity Shares of ₹ 2 each for the financial year2014-15. 6. Figures of the previous quarters / year have been regrouped andreclassified, wherever necessary. Notice is hereby given pursuant to Section 91 of the Companies Act,2013 that the record date for the interim dividend will be Monday, 9thFebruary, 2015 and the date for payment will be Wednesday, 18th February,2015. For Crompton Greaves Limited Place: Mumbai Laurent Demortier Date: 3rd February, 2015 CEO & Managing Director STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER, 2014 (₹ in crore)Sr. Particulars Quarter ended Nine months ended PreviousNo. year ended 31.12.2014 30.09.2014 31.12.2013 31.12.2014 31.12.2013 31.03.2014 Unaudited Unaudited Unaudited Unaudited Unaudited Audited 1 Income from operations (a) Net Sales / Income from operations 3333.21 3430.32 3389.31 10205.07 9825.45 13631.53 (Net of excise duty) (b) Other operating income - - - - - - Total income from operations (net) 3333.21 3430.32 3389.31 10205.07 9825.45 13631.53 2 Expenses (a) Cost of materials consumed 1930.47 1775.47 1832.02 5391.34 5347.19 7193.12 (b) Purchases of stock-in-trade 504.16 497.21 485.06 1584.30 1479.94 1993.21 (c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (142.83) 62.91 (79.07) (42.27) (220.07) (51.07) (d) Employee benefits expense 483.78 492.34 506.66 1489.38 1444.19 1952.06 (e) Depreciation and amortisation expense 66.58 66.11 71.87 199.74 190.79 262.14 (f) Other expenses 405.87 434.00 477.55 1289.39 1298.99 1862.24 Total expenses 3248.03 3328.04 3294.09 9911.88 9541.03 13211.70 3 Profit from operations before other income, finance costs and exceptional items 85.18 102.28 95.22 293.19 284.42 419.83 4 Other income 24.46 45.47 40.38 108.50 106.21 171.55 5 Profit from ordinary activities before finance costs and exceptional items 109.64 147.75 135.60 401.69 390.63 591.38 6 Finance costs (net) 27.91 22.54 26.71 74.91 66.18 96.66 7 Profit from ordinary activities after finance costs but before exceptional items 81.73 125.21 108.89 326.78 324.45 494.72 8 Exceptional items (net) - Income 267.54 - - 267.54 - - 9 Profit from ordinary activities before tax 349.27 125.21 108.89 594.32 324.45 494.7210 Tax expense 76.49 56.98 49.32 188.43 146.28 236.0511 Net profit / (loss) from ordinary activities after tax 272.78 68.23 59.57 405.89 178.17 258.6712 Extraordinary items (net of tax expense ₹ Nil) - - - - - -13 Net profit / (loss) for the period / year 272.78 68.23 59.57 405.89 178.17 258.6714 Share of profit / (loss) in associates (net) (0.22) 1.42 2.45 0.40 2.18 (15.02)15 Minority interest 1.73 (0.06) (0.00) 1.61 0.16 0.6816 Net profit / (loss) after taxes,minority interest and share of profit / (loss) of associates (net) 274.29 69.59 62.02 407.90 180.51 244.3317 Paid-up equity share capital 125.35 125.35 125.82 125.35 125.82 125.35 (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 4.38 1.11 0.98 6.51 2.84 3.86 (b) Diluted 4.38 1.11 0.98 6.51 2.84 3.86 Earnings Per Share (after extraordinary items) (of ` 2 each) (Not annualised) (a) Basic 4.38 1.11 0.98 6.51 2.84 3.86 (b) Diluted 4.38 1.11 0.98 6.51 2.84 3.86 CONSOLIDATED SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER, 2014 ` in croreSr. Particulars Quarter ended Nine months ended PreviousNo. year ended 31.12.2014 30.09.2014 31.12.2013 31.12.2014 31.12.2013 31.03.2014 Unaudited Unaudited Unaudited Unaudited Unaudited Audited 1. Segment Revenue (net of excise duty): (a) Power Systems 2066.55 2137.81 2147.66 6223.63 6017.99 8536.11 (b) Consumer Products 723.23 743.09 661.97 2327.39 2138.65 2898.50 (c) Industrial Systems 460.87 461.79 489.13 1375.25 1398.36 1857.38 (d) Others 108.96 97.16 107.05 327.32 313.45 394.19 Total 3359.61 3439.85 3405.81 10253.59 9868.45 13686.18 Less: Inter-Segment Revenue 26.40 9.53 16.50 48.52 43.00 54.65 Total income from operations (net) 3333.21 3430.32 3389.31 10205.07 9825.45 13631.53 2. Segment Results: [Profit / (loss) before tax and finance costs from each segment] (a) Power Systems 30.71 47.75 53.28 114.10 121.32 234.08 (b) Consumer Products 85.19 88.85 75.93 282.75 246.79 337.46 (c) Industrial Systems 28.26 42.30 29.45 101.37 101.51 128.24 (d) Others (5.95) (4.25) 2.14 (14.15) 0.77 2.31 Total 138.21 174.65 160.80 484.07 470.39 702.09 Less: (i) Finance costs (net) 27.91 22.54 26.71 74.91 66.18 96.66 (ii) Other un-allocable expenditure net of un-allocable income 28.57 26.90 25.20 82.38 79.76 110.71 Profit / (loss) from ordinary activities before exceptional items and tax 81.73 125.21 108.89 326.78 324.45 494.72 3. Capital Employed: (Segment Assets - Segment Liabilities) (a) Power Systems 4344.23 4581.18 3903.34 4344.23 3903.34 3898.51 (b) Consumer Products 137.25 101.02 130.78 137.25 130.78 121.16 (c) Industrial Systems 914.58 915.50 968.85 914.58 968.85 950.96 (d) Others 266.43 262.07 160.23 266.43 160.23 211.72 (e) Unallocable 915.80 653.87 858.46 915.80 858.46 716.78 Total 6578.29 6513.64 6021.66 6578.29 6021.66 5899.13Notes on consolidated financial results: 1. The above unaudited consolidated financial results have beenreviewed by the Audit Committee and approved by the Board of Directors at itsmeeting held on 3rd February, 2015. 2. Figures of the previous quarters / year have been regrouped andreclassified, wherever necessary. For Crompton Greaves Limited Place: Mumbai Laurent Demortier

Date: 3rd February, 2015 CEO & Managing Director