Annual Financial Report

PART I

STATEMENT OF STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2013 ` in croreSr. Particulars Quarter ended Year endedNo. 31.03.2013 31.12.2012

31.03.2012 31.03.2013 31.03.2012

Audited Unaudited

Audited Audited Audited

1 Income from operations

Net sales / Income from operations 2059.87 1746.05 1940.62 7135.30 6485.38

(Net of excise duty)

Net Sales / Income from operations 2059.87 1746.05 1940.62 7135.30 6485.38

2 Expenses

(a) Cost of materials consumed 979.81 855.63

996.66 3565.28 3467.62

(b) Purchases of stock-in-trade 552.62 453.45

411.05 1811.80 1265.47

(c) Changes in inventories of finished

goods, work-in-progress and stock-in-trade 41.61 6.80 41.05 (42.99) (7.39) (d) Employee benefits 107.62 101.17 91.64 411.17 363.59 (e) Depreciation and amortisation 19.30 18.01 18.52 71.86 90.71 (f) Other expenses 236.23 196.46 202.89 795.43 675.41 Total expenses 1937.19 1631.52 1761.81 6612.55 5855.41

3 Profit from operations before

other income and finance costs 122.68 114.53

178.81 522.75 629.97

4 Other income 9.08 25.97

4.42 53.07 50.41

5 Profit before finance costs 131.76 140.50

183.23 575.82 680.38

6 Finance costs (net) (8.64) (3.23)

4.56 (20.20) 3.68

7 Profit from ordinary activities after

finance costs before tax 140.40 143.73

178.67 596.02 676.70

8 Tax expense 32.68 37.57

41.80 150.18 171.84

9 Net profit from ordinary activities

after tax 107.72 106.16 136.87 445.84 504.8610 Paid-up equity share capital

(Face value of equity share of ` 2 each) 128.30 128.30 128.30 128.30 128.3011 Reserves excluding Revaluation Reserve

as per balance sheet 2914.73 2558.5612 Earnings Per Share (of ` 2 each) 1.68 1.66

2.13 6.95 7.87

Basic and diluted

PART II SELECT INFORMATION FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2013 Sr. Particulars Quarter ended Year endedNo. 31.03.2013 31.12.2012 31.03.2012 31.03.2013 31.03.2012

A PARTICULARS OF SHAREHOLDING

1 Public shareholding *

- Number of shares 374040466 374040466 374040466

374040466 374040466

- Percentage of shareholding 58.31 58.31 58.31 58.31 58.31

2 Promoters and promoter group

Shareholding a) Pledged / Encumbered - Number of shares 164697000 127997000 13855300 164697000 13855300 - Percentage of shares 61.58 47.86 5.18 61.58 5.18

(as a percentage of the total

shareholding of promoter and

promoter group)

- Percentage of shares 25.67 19.95 2.16

25.67 2.16

(as a percentage of the total

share capital of the Company)

b) Non-encumbered - Number of shares 102754070 139454070 253595770 102754070 253595770 - Percentage of shares 38.42 52.14 94.82 38.42 94.82

(as a percentage of the total

shareholding of promoter and

promoter group)

- Percentage of shares 16.02 21.74 39.53

16.02 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 31.03.2013 Pending at the beginning of the quarter Nil Received during the quarter 4 Disposed off during the quarter 4 Remaining unresolved at the end of the Nil quarter ` in croreSr. Particulars Quarter ended Year endedNo. 31.03.2013 31.12.2012

31.03.2012 31.03.2013 31.03.2012

Audited Unaudited Audited Audited Audited1. Segment Revenue (net of excise duty): (a) Power Systems 836.16 670.13 878.18 2724.71 2747.42 (b) Consumer Products 747.66 606.96 606.53 2592.71 2133.62 (c) Industrial Systems 395.22 376.42 393.18 1499.44 1520.08 (d) Others 96.70 103.14 69.74 376.79 129.90 Total 2075.74 1756.65 1947.63 7193.65 6531.02 Less: Inter Segment Revenue 15.87 10.60

7.01 58.35 45.64

Net Sales / Income from operations 2059.87 1746.05 1940.62 7135.30 6485.382. Segment Results:

[Profit / (loss) before tax and finance

costs from each segment] (a) Power Systems 59.42 53.04 102.46 230.61 319.75 (b) Consumer Products 74.03 63.33 73.98 278.07 262.88 (c) Industrial Systems 52.27 57.62 52.07 213.00 225.40 (f) Others (2.01) 2.37 (11.36) 10.62 (7.90) Total 183.71 176.36 217.15 732.30 800.13 Less: (i) Finance costs (net) (8.64) (3.23) 4.56 (20.20) 3.68

(ii) Other un-allocable expenditure

net of un-allocable income 51.95 35.86

33.92 156.48 119.75

Profit from Ordinary Activities

before tax 140.40 143.73 178.67 596.02 676.703. Capital Employed:

(Segment Assets - Segment Liabilities)

(a) Power Systems 780.45 918.91

837.58 780.45 837.58

(b) Consumer Products 110.33 74.51

92.02 110.33 92.02

(c) Industrial Systems 391.83 402.25 399.92 391.83 399.92 (d) Others 67.49 48.43 14.17 67.49 14.17 (e) Unallocable 1770.64 1616.48 1407.87 1770.64 1407.87 Total 3120.74 3060.58 2751.56 3120.74 2751.56 2 Non-current liabilities: (a) Long-term borrowings 0.75 2.06 (b) Deferred tax liabilities (net) 49.83 43.23 (c) Other long-term liabilities 27.33 24.94 (d) Long-term provisions 38.09 31.11 Sub-total - Non-current liabilities 116.00 101.34 3 Current liabilities: (a) Short-term borrowings 12.93 0.20 (b) Trade payables 1514.31 1171.03 (c) Other current liabilities 421.66 477.86 (d) Short-term provisions 147.87 119.18 Sub-total - Current liabilities 2096.77 1768.27 TOTAL - EQUITY AND LIABILITIES 5269.62 4570.49 B ASSETS 1 Non-current assets: (a) Fixed assets 775.26 675.48 (b) Non current investments 554.58 551.59 (c) Long-term loans and advances 18.10 22.87 Sub-total - Non-current assets 1347.94 1249.94 2 Current assets: (a) Current investments 500.46 500.91 (b) Inventories 548.50 449.60 (c) Trade receivables 1840.62 1735.62 (d) Cash and bank balances 288.79 321.10 (e) Short-term loans and advances 693.57 264.44 (f) Other current assets 49.74 48.88 Sub-total - Current assets 3921.68 3320.55 TOTAL - ASSETS 5269.62 4570.49

Notes on standalone financial results:

1. The above audited standalone financial results have beenreviewed by the Audit Committee and approved by the Board of Directors at itsmeeting held on 24th May, 2013.

2. The Company has, during the year, declared interim dividends of` 0.80 per share on 641,491,536 Equity Shares of ` 2 each for the financialyear 2012-13. The Company has recommended a final dividend of ` 0.40 pershare, subject to approval of the shareholders at the ensuing Annual GeneralMeeting.

3. The Company, during the quarter, has acquired the balance 30%share holding in CG-ZIV Power Automation Solutions Limited (CG-ZIV) consistingof 3000000 shares @ ` 10.05 per share making CG-ZIV its wholly ownedsubsidiary. Further, at its meeting held on 18th April, 2013, the Board hasapproved a Scheme of Amalgamation between the Company and CG-ZIV, effectivefrom 1st April, 2013 (Appointed Date), subject to receipt of all regulatoryapprovals.

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

Notice is hereby given pursuant to Section 154 of the CompaniesAct, 1956 that the Register of Members and Share Transfer Books will be closedfrom Monday, 29th July, 2013, to Tuesday, 6th August, 2013 (both daysinclusive) for the purpose of declaring of dividend and convening of theAnnual General Meeting. The date of payment of this dividend will be Tuesday,6th August, 2013. For Crompton Greaves LimitedPlace: Mumbai Laurent DemortierDate: 24th May, 2013 CEO & Managing Director STATEMENT OF CONSOLIDATED AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2013 ` in croreSr. Particulars Quarter ended Year endedNo. 31.03.2013 31.12.2012

31.03.2012 31.03.2013 31.03.2012

Audited Unaudited

Audited Audited Audited

1 Income from operations

Net Sales / Income from operations 3387.30 2971.83

3077.36 12094.44 11248.58

(Net of excise duty)

Net Sales / Income from operations 3387.30 2971.83

3077.36 12094.44 11248.58

2 Expenses

(a) Cost of materials consumed 1712.45 1681.21

1669.55 6785.53 6443.31

(b) Purchases of stock-in-trade 552.62 453.45

411.06 1811.80 1265.47

(c) Changes in inventories of finished

goods, work-in-progress and stock-in-trade 176.92 (77.57) 26.64 (251.26) (23.79) (d) Employee benefits 437.56 440.10 393.79 1740.49 1466.21 (e) Depreciation and amortisation 45.31 56.57 63.89 202.92 259.96 (f) Other expenses 429.83 472.63 363.14 1624.72 1293.74 Total expenses 3354.69 3026.39 2928.07 11914.20 10704.90

3 Profit / (loss) from operations before

other income, finance costs and exceptional

item 32.61 (54.56)

149.29 180.24 543.68

4 Other income 5.14 30.35

0.31 75.44 52.40

5 Profit from ordinary activities before

finance costs and exceptional item 37.75 (24.21)

149.60 255.68 596.08

6 Finance costs (net) 20.82 21.26

13.94 70.93 46.34

7 Profit / (loss) from ordinary activities

after finance costs before exceptional item 16.93 (45.47) 135.66 184.75 549.74

8 Exceptional item - (120.71)

- (120.71) -

9 Profit / (loss) from ordinary activities

before tax 16.93 (166.18) 135.66 64.04 549.7410 Tax expense (7.77) 22.80 39.63 100.91 182.1411 Net profit / (loss) from ordinary activities after tax 24.70 (188.98) 96.03 (36.87) 367.6012 Share of profit / (loss) in associates (net) 0.01 (0.39) 4.01 (0.39) 5.3413 Minority interest 0.56 0.01 0.28 1.12 0.6514 Net profit after taxes,minority interest and

share of profit / (loss) of associates (net) 25.27 (189.36) 100.32 (36.14) 373.5915 Paid-up equity share capital

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 3402.29 3468.6217 Earnings Per Share (of ` 2 each) 0.40 (2.95)

1.56 (0.56) 5.82

Basic and diluted CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES ` in crore Particulars As at 31.03.2013 As at 31.03.2012 Audited AuditedA EQUITY AND LIABILITIES 1 Shareholders' Funds (a) Share capital 128.30 128.30 (b) Reserves and surplus 3433.22 3482.64 Sub-total- Shareholders' funds 3561.52 3610.94 2 Minority Interest 9.48 15.66 3 Non-current Liabilities (a) Long-term borrowings 1555.01 616.26 (b) Deferred tax liabilities

146.86 135.59

(c) Other long-term liabilities 144.59 187.43 (d) Long-term provisions 73.78 83.84 Sub-total- Non-current liabilities 1920.24 1023.12 4 Current Liabilities (a) Short-term borrowings 296.47 368.59 (b) Trade payables 2461.83 2107.58 (c) Other current liabilities 1554.78 1344.46 (d) Short-term provisions 348.46 294.85 Sub-total- Current liabilities 4661.54 4115.48 TOTAL - EQUITY AND LIABILITIES 10152.78 8765.20 B ASSETS 1 Non-current Assets: (a) Fixed assets 2087.14 1677.08 (b) Goodwill on consolidation 979.17 580.45 (c) Non current investments 290.08 285.26 (d) Deferred tax assets 314.95 186.89 (e) Long-term loans and advances 24.62 32.93 Sub-total - Non-current assets 3695.96 2762.61 2 Current Assets: (a) Current investments 500.71 501.15 (b) Inventories 1636.72 1223.27 (c) Trade receivables 3160.47 3143.26 (d) Cash and bank balances 583.36 497.59 (e) Short-term loans and advances 357.13 489.30 (f) Other current assets 218.43 148.02 Sub-total - Current assets 6456.82 6002.59

Notes on consolidated financial results:

1. The above audited consolidated financial results have been reviewed by theAudit Committee and approved by the Board of Directors at its meeting held on24th May, 2013. 2. The Company has changed its accounting policy effective 1st April, 2012 inrespect of goodwill arising on acquisition of businesses. The Company has donean annual impairment testing for goodwill instead of the past practice ofamortisation. The Management believes, this change in accounting policy alignswell with leading international practices and reflects benefits to be derivedfrom goodwill arising on acquisitions. Had the Company not changed theaccounting policy as above, depreciation and amortisation for the quarterended 31st March, 2013 and year ended 31st March, 2013 would have been higherby ₹ 13.82 crore and ` 68.01 crore respectively and profit would have lowerby ` 13.82 for the quarter ended 31st March 2013 and loss after tax would havebeen higher by ` 68.01 crore for the year ended 31st March 2013.

3. The Company, during the quarter, through its overseas subsidiary, hasentered into a Joint Venture Agreement with PT Prima Layanan NasionalEnjinring (PLNE) of Indonesia, to manufacture and commercialise High Voltage(HV) and Extra High Voltage (EHV) switchgear ranging from 70kV to 500kV inIndonesia. The Company has 51% and PLNE has 49% share in the Joint venture.

4. Current quarter / year includes, the results of the subsidiaries acquiredduring the year i.e. ZIV Group in Spain. Consequently, figures for the currentquarter / year are not comparable with the figures of the correspondingprevious quarter / year. Figures for the previous quarters / year have beenregrouped and reclassified, wherever necessary. For Crompton Greaves LimitedPlace: Mumbai Laurent DemortierDate: 24th May, 2013 CEO & Managing Director