CGVD.L Regulatory News (CGVD)

PART I STATEMENT OF STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2014 (' in crore)Sr. Particulars Quarter ended Year endedNo. 31.03.2014 31.12.2013 31.03.2013 31.03.2014 31.03.2013 Audited Unaudited Audited Audited Audited 1 Income from operations (a) Net sales / Income from operations 2036.65 1867.65 2059.87 7489.57 7135.30 (Net of excise duty) (b) Other operating income - - - - - Total income from operations (net) 2036.65 1867.65 2059.87 7489.57 7135.30 2 Expenses (a) Cost of materials consumed 985.93 925.89 979.81 3617.52 3565.28 (b) Purchases of stock-in-trade 513.27 485.06 552.62 1993.21 1811.80 (c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 23.16 (22.29) 41.61 (12.77) (42.99) (d) Employee benefits expense 126.42 121.72 107.58 476.36 410.74 (e) Depreciation and amortisation expense 24.53 21.95 19.30 89.35 71.86 (f) Other expenses 202.72 187.98 236.27 749.41 795.86 Total expenses 1876.03 1720.31 1937.19 6913.08 6612.55 3 Profit from operations before other income, finance costs and exceptional items 160.62 147.34 122.68 576.49 522.75 4 Other income 25.18 29.42 9.08 113.94 53.07 5 Profit from ordinary activities before finance costs and exceptional items 185.80 176.76 131.76 690.43 575.82 6 Finance costs (net) (3.81) (0.91) (8.64) (22.02) (20.20) 7 Profit from ordinary activities after finance costs but before exceptional items 189.61 177.67 140.40 712.45 596.02 8 Exceptional items - - - - - 9 Profit from ordinary activities before tax 189.61 177.67 140.40 712.45 596.0210 Tax expense 63.49 42.13 32.68 191.36 150.1811 Net profit from ordinary activities after tax 126.12 135.54 107.72 521.09 445.8412 Extraordinary items (net of tax expense â'¹ Nil) - - - - -13 Net profit for the period / year 126.12 135.54 107.72 521.09 445.8414 Paid-up equity share capital 125.35 125.82 128.30 125.35 128.30 (Face value of equity share of ` 2 each)15 Reserves excluding Revaluation Reserve as per balance sheet 3217.10 2914.7316 Earnings Per Share (after extraordinary items) (of ` 2 each) (a) Basic 1.99 2.14 1.68 8.23 6.95 (b) Diluted 1.99 2.14 1.68 8.23 6.95 Earnings Per Share (after extraordinary items) (of ` 2 each) (a) Basic 1.99 2.14 1.68 8.23 6.95 (b) Diluted 1.99 2.14 1.68 8.23 6.95 PART I STATEMENT OF STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2014 (' in crore) Sr. Particulars Quarter ended Year ended No. 31.03.2014 31.12.2013 31.03.2013 31.03.2014 31.03.2013 Audited Unaudited Audited Audited Audited 1 Income from operations (a) Net sales / Income from operations 2036.65 1867.65 2059.87 7489.57 7135.30 (Net of excise duty) (b) Other operating income - - - - - Total income from operations (net) 2036.65 1867.65 2059.87 7489.57 7135.30 2 Expenses (a) Cost of materials consumed 985.93 925.89 979.81 3617.52 3565.28 (b) Purchases of stock-in-trade 513.27 485.06 552.62 1993.21 1811.80 (c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 23.16 (22.29) 41.61 (12.77) (42.99) (d) Employee benefits expense 126.42 121.72 107.58 476.36 410.74 (e) Depreciation and amortisation expense 24.53 21.95 19.30 89.35 71.86 (f) Other expenses 202.72 187.98 236.27 749.41 795.86 Total expenses 1876.03 1720.31 1937.19 6913.08 6612.55 3 Profit from operations before other income, finance costs and exceptional items 160.62 147.34 122.68 576.49 522.75 4 Other income 25.18 29.42 9.08 113.94 53.07 5 Profit from ordinary activities before finance costs and exceptional items 185.80 176.76 131.76 690.43 575.82 6 Finance costs (net) (3.81) (0.91) (8.64) (22.02) (20.20) 7 Profit from ordinary activities after finance costs but before exceptional items 189.61 177.67 140.40 712.45 596.02 8 Exceptional items - - - - - 9 Profit from ordinary activities before tax 189.61 177.67 140.40 712.45 596.02 10 Tax expense 63.49 42.13 32.68 191.36 150.18 11 Net profit from ordinary activities after tax 126.12 135.54 107.72 521.09 445.84 12 Extraordinary items (net of tax expense â'¹ Nil) - - - - - 13 Net profit for the period / year 126.12 135.54 107.72 521.09 445.84 14 Paid-up equity share capital 125.35 125.82 128.30 125.35 128.30 (Face value of equity share of ` 2 each) 15 Reserves excluding Revaluation Reserve as per balance sheet 3217.10 2914.73 16 Earnings Per Share (after extraordinary items) (of ` 2 each) (a) Basic 1.99 2.14 1.68 8.23 6.95 (b) Diluted 1.99 2.14 1.68 8.23 6.95 Earnings Per Share (after extraordinary items) (of ` 2 each) (a) Basic 1.99 2.14 1.68 8.23 6.95 (b) Diluted 1.99 2.14 1.68 8.23 6.95 PART II SELECT INFORMATION FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2014 Sr. Particulars Quarter ended Year ended No. 31.03.2014 31.12.2013 31.03.2013 31.03.2014 31.03.2013 A PARTICULARS OF SHAREHOLDING 1 Public shareholding* - Number of shares 359295072 361649017 374040466 359295072 374040466 - Percentage of shareholding 57.33 57.49 58.31 57.33 58.31 2 Promoters and Promoter Group Shareholding (a) Pledged / Encumbered - Number of shares 153637930 145209602 164697000 153637930 164697000 - Percentage of shares 57.45 54.29 61.58 57.45 61.58 (as a % of the total shareholding of promoter and promoter group) - Percentage of shares 24.51 23.08 25.67 24.51 25.67 (as a % of the total share capital of the Company) (b) Non-encumbered - Number of shares 113813140 122241468 102754070 113813140 102754070 - Percentage of shares 42.55 45.71 38.42 42.55 38.42 (as a % of the total shareholding of promoter and promoter group) - Percentage of shares 18.16 19.43 16.02 18.16 16.02 (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 31.03.2014 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 Nil quarter STANDALONE SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2014 (' in crore)Sr. Particulars Quarter ended Year endedNo. 31.03.2014 31.12.2013 31.03.2013 31.03.2014 31.03.2013 Audited Unaudited Audited Audited Audited1. Segment Revenue (net of excise duty): (a) Power Systems 855.11 736.95 836.16 2823.53 2724.71 (b) Consumer Products 748.36 650.97 747.66 2847.05 2592.71 © Industrial Systems 365.49 391.43 395.22 1488.94 1499.44 (d) Others 79.34 104.80 96.70 384.70 376.79 Total 2048.30 1884.15 2075.74 7544.22 7193.65 Less: Inter-Segment Revenue 11.65 16.50 15.87 54.65 58.35 Total income from operations (net) 2036.65 1867.65 2059.87 7489.57 7135.302. Segment Results: [Profit / (loss) before tax and finance costs from each segment] (a) Power Systems 80.73 69.48 59.42 258.52 230.61 (b) Consumer Products 90.67 75.93 74.03 337.46 278.07 © Industrial Systems 30.87 41.60 52.27 152.87 213.00 (d) Others 1.37 2.17 (2.01) 1.88 10.62 Total 203.64 189.18 183.71 750.73 732.30 Less: (i) Finance costs (net) (3.81) (0.91) (8.64) (22.02) (20.20) (ii) Other un-allocable expenditure net of un-allocable income 17.84 12.42 51.95 60.30 156.48 Profit from ordinary activities before tax 189.61 177.67 140.40 712.45 596.023. Capital Employed: (Segment Assets - Segment Liabilities) (a) Power Systems 851.65 846.09 780.45 851.65 780.45 (b) Consumer Products 121.16 130.78 110.33 121.16 110.33 © Industrial Systems 396.76 380.53 391.83 396.76 391.83 (d) Others 189.36 139.09 67.49 189.36 67.49 (e) Unallocable 1901.61 1898.90 1770.64 1901.61 1770.64 Total 3460.54 3395.39 3120.74 3460.54 3120.74 STANDALONE STATEMENT OF ASSETS AND LIABILITIES (' in crore) Particulars As at 31.03.2014 As at 31.03.2013 Audited Audited A EQUITY AND LIABILITIES 1 Shareholders' funds: (a) Share capital 125.35 128.30 (b) Reserves and surplus 3230.72 2928.55 Sub-total - Shareholders' funds 3356.07 3056.85 2 Non-current liabilities: (a) Long-term borrowings 0.54 0.75 (b) Deferred tax liabilities (net) 73.59 49.83 © Other long-term liabilities 28.03 27.33 (d) Long-term provisions 41.91 38.09 Sub-total - Non-current liabilities 144.07 116.00 3 Current liabilities: (a) Short-term borrowings 29.99 12.93 (b) Trade payables 1563.07 1514.31 © Other current liabilities 362.95 421.66 (d) Short-term provisions 130.30 147.87 Sub-total - Current liabilities 2086.31 2096.77 TOTAL - EQUITY AND LIABILITIES 5586.45 5269.62 B ASSETS 1 Non-current assets: (a) Fixed assets 822.63 775.26 (b) Non current investments 805.71 554.58 © Long-term loans and advances 42.67 18.10 Sub-total - Non-current assets 1671.01 1347.94 2 Current assets: (a) Current investments 20.63 500.46 (b) Inventories 557.78 548.50 © Trade receivables 1907.92 1840.62 (d) Cash and bank balances 442.80 288.79 (e) Short-term loans and advances 919.22 693.57 (f) Other current assets 67.09 49.74 Sub-total - Current assets 3915.44 3921.68 TOTAL - ASSETS 5586.45 5269.62 Notes on standalone financial results: 1. The above audited standalone financial results have been reviewed by theAudit Committee at its meeting held on 28th May, 2014 and approved by theBoard of Directors at its meeting held on 29th May, 2014. 2. The Company, during the year, declared interim dividends of â'¹ 0.80 pershare on equity shares of â'¹ 2 each for financial year 2013-14. The Board ofDirectors have recommended a final dividend of â'¹ 0.40 per share on626,746,142 equity shares, subject to approval of the shareholders at theensuing Annual General Meeting. 3. The Company, during the year, has bought 14,745,394 equity shares under theBuy-back Scheme at a cost of ` 133.56 crore (including service tax). A sum of` 133.54 crore pertaining to shares extinguished during the year has beenreduced from securities premium account and ` 2.95 crore representing the facevalue has been reduced from the share capital and transferred to capitalredemption reserve. The total amount utilised in the buy-back is ` 133.56crore (including service tax), being 50.27% of the maximum buy-back size of `265.70 crore. All shares bought back have been fully extinguished as on date. 4. The Board of Directors have approved the Scheme of Amalgamation of CG-ZIVPower Automation Solutions Limited and CG Energy Management Limited (whollyowned subsidiaries) with the Company on 29th January, 2014. The amalgamationwill be effective from 1st April, 2014 subject to receipt of all regulatoryapprovals. 5. Figures of the previous quarters / year have been regrouped, wherevernecessary. Notice is hereby given pursuant to Section 91 of the Companies Act, 2013 thatthe Register of Members and Share Transfer Books will be closed from Friday,1st August, 2014 to Tuesday, 5th August, 2014 (both days inclusive), for thepurpose of declaring dividend and convening of the Annual General Meeting. Thedate of payment of this dividend will be Tuesday, 12th August, 2014. For Crompton Greaves LimitedPlace: Mumbai Laurent DemortierDate: 29th May, 2014 CEO & Managing Director STATEMENT OF CONSOLIDATED AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2014 (' in crore)Sr. Particulars Quarter ended Year endedNo. 31.03.2014 31.12.2013 31.03.2013 31.03.2014 31.03.2013 Audited Unaudited Audited Audited Audited 1 Income from operations (a) Net Sales / Income from operations 3766.48 3351.97 3387.30 13480.58 12094.44 (Net of excise duty) (b) Other operating income - - - - - Total income from operations (net) 3766.48 3351.97 3387.30 13480.58 12094.44 2 Expenses (a) Cost of materials consumed 1845.93 1832.02 1712.45 7193.12 6785.53 (b) Purchases of stock-in-trade 513.27 485.06 552.62 1993.21 1811.80 (c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 169.00 (79.07) 176.92 (51.07) (251.26) (d) Employee benefits expense 507.87 506.66 437.53 1952.06 1740.06 (e) Depreciation and amortisation expense 71.35 71.87 45.31 262.14 202.92 (f) Other expenses 542.31 440.21 429.86 1711.29 1625.15 Total expenses 3649.73 3256.75 3354.69 13060.75 11914.20 3 Profit from operations before other income, finance costs and exceptional items 116.75 95.22 32.61 419.83 180.24 4 Other income 84.00 40.38 5.14 171.55 75.44 5 Profit from ordinary activities before finance costs and exceptional items 200.75 135.60 37.75 591.38 255.68 6 Finance costs (net) 30.48 26.71 20.82 96.66 70.93 7 Profit from ordinary activities after finance costs but before exceptional items 170.27 108.89 16.93 494.72 184.75 8 Exceptional items - - - - (120.71) 9 Profit from ordinary activities before tax 170.27 108.89 16.93 494.72 64.0410 Tax expense 89.77 49.32 (7.77) 236.05 100.9111 Net profit / (loss) from ordinary activities after tax 80.50 59.57 24.70 258.67 (36.87)12 Extraordinary items (net of tax expense â'¹ Nil) - - - - -13 Net profit / (loss) for the period / year 80.50 59.57 24.70 258.67 (36.87)14 Share of profit / (loss) in associates (net) (17.20) 2.45 0.01 (15.02) (0.39)15 Minority interest 0.52 (0.00) 0.56 0.68 1.1216 Net profit / (loss) after taxes,minority interest and share of profit / (loss) of associates (net) 63.82 62.02 25.27 244.33 (36.14)17 Paid-up equity share capital 125.35 125.82 128.30 125.35 128.30 (Face value of equity share of ` 2 each)18 Reserves excluding Revaluation Reserve as per the balance sheet 3489.31 3402.2919 Earnings Per Share (before extraordinary items) (of ` 2 each) (a) Basic 1.01 0.98 0.40 3.86 (0.56) (b) Diluted 1.01 0.98 0.40 3.86 (0.56) Earnings Per Share (after extraordinary items) (of ` 2 each) (a) Basic 1.01 0.98 0.40 3.86 (0.56) (b) Diluted 1.01 0.98 0.40 3.86 (0.56) CONSOLIDATED SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2014 ` in croreSr. Particulars Quarter ended Year endedNo. 31.03.2014 31.12.2013 31.03.2013 31.03.2014 31.03.2013 Audited Unaudited Audited Audited Audited 1. Segment Revenue (net of excise duty): (a) Power Systems 2500.92 2132.19 2059.98 8477.57 7335.86 (b) Consumer Products 748.36 650.97 747.66 2847.05 2592.71 (c) Industrial Systems 448.11 478.26 496.16 1816.42 1834.58 (d) Others 80.74 107.05 99.37 394.19 389.64 Total 3778.13 3368.47 3403.17 13535.23 12152.79 Less: Inter-Segment Revenue 11.65 16.50 15.87 54.65 58.35 Total income from operations (net) 3766.48 3351.97 3387.30 13480.58 12094.44 2. Segment Results: [Profit / (loss) before tax and finance costs from each segment] (a) Power Systems 112.76 53.28 (58.63) 234.08 (110.41) (b) Consumer Products 90.67 75.93 74.03 337.46 278.07 (c) Industrial Systems 26.73 29.45 55.97 128.24 213.58 (d) Others 1.54 2.14 (1.51) 2.31 11.56 Total 231.70 160.80 69.86 702.09 392.80 Less: (i) Finance costs (net) 30.48 26.71 20.82 96.66 70.93 (ii) Other un-allocable expenditure net of un-allocable income 30.95 25.20 32.11 110.71 137.12 Profit / (loss) from ordinary activities before exceptional items and tax 170.27 108.89 16.93 494.72 184.75 3. Capital Employed: (Segment Assets - Segment Liabilities) (a) Power Systems 3898.51 3903.34 3382.43 3898.51 3382.43 (b) Consumer Products 121.16 130.78 110.33 121.16 110.33 (c) Industrial Systems 950.96 968.85 866.34 950.96 866.34 (d) Others 211.72 160.23 89.54 211.72 89.54 (e) Unallocable 716.78 858.46 983.62 716.78 983.62 Total 5899.13 6021.66 5432.26 5899.13 5432.26 CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES (' in crore) Particulars As at 31.03.2014 As at 31.03.2013 Audited AuditedA EQUITY AND LIABILITIES 1 Shareholders' Funds: (a) Share capital 125.35 128.30 (b) Reserves and surplus 3519.21 3433.22 Sub-total-Shareholders' funds 3644.56 3561.52 2 Minority Interest 11.75 9.48 3 Non-current Liabilities: (a) Long-term borrowings 1632.25 1555.01 (b) Deferred tax liabilities 187.83 146.86 (c) Other long-term liabilities 86.48 144.59 (d) Long-term provisions 73.11 73.78 Sub-total-Non-current liabilities 1979.67 1920.24 4 Current Liabilities: (a) Short-term borrowings 560.77 296.47 (b) Trade payables 2773.73 2461.83 (c) Other current liabilities 1712.04 1554.78 (d) Short-term provisions 333.33 348.46 Sub-total-Current liabilities 5379.87 4661.54 TOTAL - EQUITY AND LIABILITIES 11015.85 10152.78 B ASSETS 1 Non-current Assets: (a) Fixed assets 2300.33 2087.14 (b) Goodwill on consolidation 1158.81 979.17 (c) Non current investments 278.00 290.08 (d) Deferred tax assets 341.00 314.95 (e) Long-term loans and advances 49.89 24.62 Sub-total - Non-current assets 4128.03 3695.96 2 Current Assets: (a) Current investments 20.89 500.71 (b) Inventories 1671.39 1636.72 (c) Trade receivables 3591.25 3160.47 (d) Cash and bank balances 814.95 583.36 (e) Short-term loans and advances 495.57 357.13 (f) Other current assets 293.77 218.43 Sub-total - Current assets 6887.82 6456.82 TOTAL - ASSETS 11015.85 10152.78 Notes on consolidated financial results: 1. The above audited consolidated financial results have been reviewed by theAudit Committee at its meeting held on 28th May, 2014 and approved by theBoard of Directors at its meeting held on 29th May, 2014. 2. Figures of the previous quarters / year have been regrouped, wherevernecessary. For Crompton Greaves LimitedPlace: Mumbai Laurent DemortierDate: 29th May, 2014 CEO & Managing Director