MIRA INFORM REPORT
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Report Date : |
13th May, 2006 |
IDENTIFICATION DETAILS
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Name : |
CROMPTON GREAVES LIMITED |
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Registered Office : |
6th Floor, C G
House, Dr. Annie Besant Road, Prabhadevi, Mumbai- 400 025, Maharashtra,
India |
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Country: |
India |
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Financials as on: |
31.03.2005 |
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Date of Incorporation : |
28/04/1973 |
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Com. Reg. No.: |
11-2641 |
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Legal Form : |
It
is a public limited liability company. The company’s shares are listed on the
Stock Exchanges. |
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Line of Business : |
Manufacturing and Marketing
of transformers, switchgears, turn-key projects, capacitors, electric motors
- fractional horse power motors, LT motors, alternators, HT motors, DC
machines, rail transportation, fans, luminaries, light sources, telephone
instruments, telecommunication switching, transmission and access products,
EPABX systems and agricultural and domestic pumps, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not
cause fatal effect. Satisfactory capability for payment of interest and
principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD 18000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of Thapar
Group - a well-established industrial house. Directors are reported as
experienced, respectable and resourceful industrialists. Their trade
relations are reported as fair.
General financial position is satisfactory. Payments are usually correct and as per commitments. The company can be
considered normal for any business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
6th Floor, CG
House, Dr. Annie Besant Road, Prabhadevi, Mumbai – 400 025, Maharashtra, India |
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Tel. No.: |
91-2662-242324/242278 |
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Fax No.: |
91-2662-242326 |
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E-Mail : |
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Website : |
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Cable : |
CROMGRE |
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Plant Locations : |
Power
Systems
Ø
Kanjur, Bhandup,
Mumbai – 400 042,Maharashtra, India. o
Tel. No.
91-22-25782451 o
Fax No. 91-22-25783271
/ 25783216 o
E-Mail. : vmasson@tone.cgl.co.in Ø
A/3 MIDC Area, Ambad, Nashik – 422 010, Maharashtra, India. o
Tel. No. 91-253-2382
271 / 2382 275 o
Fax No. 91-253-2381
247 o
E-Mail. : contact@cglmail.com Ø
D-2 MIDC, Waluj,
Aurangabad – 431 136, Maharashtra, India. o
Tel. No. 91-240-2554
662 /2 554 371 / 2554 372 / 2554 559 o
Fax No. 91-240-2554
697 o
E-Mail. : cglsg@bom4.vsnl.net.in Ø
209 Mumbai Pune Road,
Pimpri, Pune – 411 018, Maharashtra, India. o
Tel. No.
91-20-27474925 o
Fax No. 91-20-27474972 o
E-Mail. : cgt2@mantraonline.com Ø
T1+T2 MPAKVN
Industrial Area, Malanpur (Dist. Bhind), Madhya Pradesh-477 716, India. o
Tel. No.
91-7539-283502 / 3507 / 3470 o
Fax No. 91-7539-283585 o
E-Mail. : cgt2@mantraonline.com Ø
Plot No. 29-32 New
Industrial Area No. 1, Mandideep – 462 046, Madhya Pradesh, India. o
Tel. No.
91-7480-233306 o
Fax No. 91-7480-233149 o
E-Mail. cglt-bpl@sancharnet.in Ø
Plot No. 65, Phase 1,
SIPCOT Industrial Complex, Hosur - 635 126, Tamil Nadu, India. o
Telefax :
91-4344-2579633 o
Fax No. :
91-4344-2579622 o
E-Mail. : cgpolycrete@satyam.net.in Industrial
Systems
Ø
Kanjur, Bhandup,
Mumbai – 400 042, Maharashtra, India. o
Tel. No. 91-22-2578
2451 o
Fax No. 91-22-2578
3845 o
E-Mail. : imd@cgl.co.in Ø
A/6-2, MIDC Industrial Area, Ahmednagar – 414 111, Maharashtra,
India. o
Tel. No. 91-241-2777372 o
Fax No. 91-241-2777508 o
E-Mail. : sc.gupta@mail.cgl.co.in Ø
B-110 MIDC Industrial
Area, Ahmednagar – 414 111, Maharashtra, India. o
Tel. No.
91-241-2778521 o
Fax No. 91-241-2777491 o
E-Mail. : gupta.r.k@mail.cgl.co.in Ø
Plot No. 4, Gate No.
627/2, Village Kuruli, Near Chakan, Pune - 410 501, Maharashtra, India. o
Tel. No.
91-2135-254641/2 o
E-Mail. feeder@cgl.co.in Ø
D-5 Industrial Area,
MPAKVN, Mandideep – 462 046, Madhya Pradesh, India. o
Tel. No.
91-7480-233116 / 233118 o
Fax No. 91-7480-233119 o
E-Mail. : ak.raina@mail.cgl.co.in Ø
11-B, Industrial Area
1, Pithampur – 454 775, Dist. Dhar, Madhya Pradesh, India. o
Tel. No.
91-7292-253194 / 253258 o
Fax No. 91-7292-253211 o
E-Mail. : cglsrub@sancharnet.in Ø
C 71-72, MIDC
Industrial Area, Satpur, Nashik – 422 007, Maharashtra, India. o
Tel. No.
91-253-2351067 / 69 o
Fax No. 91-253-2351492 o
E-Mail. : vrkumar@satpur2.cgl.co.in Ø
D-2-21, 22, 23, Tivim
Industrial Estate, Karaswada, Bardez, Goa - 403 526, India. o
Tel. No. 91-832-2257639 / 409 o
Fax No. 91-832-2257207 o
E-Mail. : sagar.r.k.@mail.cgl.co.in Ø
196-198, Kundaim
Industrial Estate, Kundaim, Ponda, Goa - 403 110, India. o
Tel. No.
91-834-2395510 o
Fax No. 91-834-2395377 o
E-Mail.: cglfhpg@goatelecom.com Ø
L. B. Shastri Marg,
Bhandup, Mumbai - 400 078, Maharashtra, India. o
Tel. No. :
91-22-25783865 / 3581 / 83 o
Fax No. :
91-22-25782877 Ø
Dr. E. Moses Road,
Worli, Mumbai – 400 018, Maharashtra, India. o
Tel. No. :
91-22-24933913 / 916 o
Fax No.:
91-22-24951411 Consumer
Products Ø
Kanjur, Bhandup,
Mumbai – 400 042, Maharashtra, India. o
Tel. No. 91-22-2578
2451 o
Fax No. 91-22-2578
6046 Ø
Dr. E. Moses Road,
Worli, Mumbai – 400 018, Maharashtra, India. o
Tel. No.
91-22-24951983 / 24944376/ 24977652 o
Fax No. 91-22-24604707
/ 4708 / 24973046 o
E-Mail. : vrm@cgl.co.in Ø
Kural Village, Padra
Taluka, Padra-Jambusar Road, District Baroda, Gujarat, India. o
Tel. No. :
91-2662-242278 o
Fax No. :
91-2662-242326 o
E-Mail. : kvs@mail.cgl.co.in Ø
325-326, Kundaim
Industrial Estate, Ponda, Goa - 403 110, India. o
Tel. No. :
91-832-2395304 o
Fax No. :
91-832-2395305 Ø
A-28, MIDC, Ahmednagar
- 414 111, Maharashtra, India. o
Tel. No.
91-241-2777155 o
Fax No. 91-241-277893 o
E-Mail. uhm@cgl.co.in Ø
214-A, Kundaim
Industrial Estate, Kundaim, Goa - 403 110, India. o
Tel. No.
91-832-2395246 / 206 / 304 o
Fax No. 91-832-2395305 o
E-Mail. rsk@mail.cgl.co.in Ø
Plot No. 1, IDC
Industrial Estate, Bethora, Ponda, Goa 403 409, India. o
Tel. No.
91-832-2330005 / 2330742 o
Fax No. 91-832-2313155 o
E-Mail. rsk@mail.cgl.co.in Ø
Village & Import
Export Executive Channo, Dist. Sangrur - 148 026, Punjab, India o
Tel. No.
91-16732-274543 o
Fax No.
91-16732-274542 Digital
Group
Ø
10-A Jigani Industrial
Estate, Jigani, Anekal, Bangalore Rural – 562 106, Karnataka, India. o
Tel. No.
91-80-7825206/7 o
Fax No. 91-80-7825210 o
E-Mail. cgl.rcd@cromption.sril.in Ø
11A & 11C
Industrial Area, Pithampur – 454 775, Dist. Dhar, Madhya Pradesh, India. o
Tel. No.
91-7292-253035 / 253071 o
Fax No. 91-7292-253213
o
E-Mail. hs_sekhon@yahoo.co.in International
Division
Ø
Jagruti, 2nd
Floor, Kanjur Marg (East), Mumbai - 400 042, Maharashtra, India o
Tel. No.
91-22-25782451-7/25776524 /6649/25776723/25784211-19 o
Fax No. 91-22-25774066 o
E-Mail. ashley@cgl.co.in Domestic
Appliances Division
27, Rani Jhansi Road, New
Delhi - 110 055, India Tel.
No. 91-11-27516993 / 23632349 Fax
No. 91-11-27514899 Engineering
Projects Division
Ø
Bombay Mutual
Building, 4th Floor, 232, NSC Bose Road, PO Box No. 100, Chennai -
600 001, Tamil Nadu, India ·
Tel No. 91-44-25341941 ·
Fax No. 91-44-25341048 ·
E-Mail. cglepd@vsnl.com Ø
50, Chowringhee Road,
Kolkata - 700 071, West Bengal, India
Lighting
Division
Ø
Dr. E. Moses Road,
Worli, Mumbai - 400 018, Maharashtra, India ·
Tel. No.
91-22-24604701 |
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Regional Sales Office : |
Northern Region Church Road, PO Box 173,
Jaipur - 302 001, Rajasthan, India Tel. No. 91-141-2376919/2376307 Fax. No. 91-141-2365371 E-Mail. opsharma@mail.cgl.co.in 50, Mahavir Marg, Jalandhar
- 144 001, Punjab, India Tel. No.
91-181-2459467/2459478 Fax. No. 91-181-2226342 E-Mail. maniktala@mail.cgl.co.in Saran Chambers II, 3rd
Floor, 5 Park Road, Lucknow - 226 001, Uttar Pradesh, India Tel. No.
91-522-2239443/2237007/8 Fax. No. 91-522-2237009 E-Mail. cgllko@sancharnet.in Vandana Building, 11,
Tolstoy Marg, New Delhi - 110 001, India Tel. No.
91-11-23352151/23352161 Fax. No. 91-11-23324360 E-Mail. vknayyar@mail.cgl.co.in Rishyamook Building, Block
B, 2nd Floor, 85-A, Punchkuin Road, New Delhi - 110 001, India Tel. No.
91-11-23348236/41/23348425/25 Fax. No. 91-11-23734954 E-Mail. administratordelhi@cgl.co.in Eastern Region 50, Chowringhee Road,
Kolkata -700 071, West Bengal, India Tel. No. 91-33-22829681/85 Fax. No.
91-33-22829942/22824818 E-Mail. cglercal@cal.vsnl.net.in Janpath Tower, 3rd
Floor, Ashok Nagar, Unit II, Bhubaneswar - 751 009, Orissa, India Tel. No. 91-674-2533647/2531128 Fax. No. 91-674-2533521 E-Mail. yebbssd@dte.vsnl.net.in Western Region 909-916, Sarkar II, Near
Ellis Bridge, Ahmedabad - 380 006, Gujarat, India Tel. No.
91-79-6582780/6587238 Fax. No. 91-79-6586047 E-Mail. rcvatsa@mail.cgl.co.in Kanjur Marg (East), Mumbai
- 400 042, Maharashtra, India Tel. No. 91-22-25782451 Fax. No. 91-22-25794882 E-Mail. anr@wr.cgl.co.in 65A, Nhava House, Maharashi
Karve Road, Marine Lines, Mumbai - 400 002, Maharashtra, India Tel. No.
91-22-22083234/36/22014905 Fax. No. 91-22-22083244 103-B, Apollo Trade Centre,
2B, Raigarh Kothi, Mumbai Agra Road, Indore - 452 001, Madhya Pradesh, India Tel. No.
91-731-2498269/2498271/2498276 Fax. No. 91-731-2495667 E-Mail. sagarm@mail.cgl.co.in Surya Bhavan, 5th
Floor, Fergusson College Road, Pune - 411 005, Maharashtra, India Tel. No. 91-20-5534675-77 Fax. No. 91-20-5534684 E-Mail. siva@mail.cgl.co.in Southern Region Ground Floor, Lakshmi
Mansion, 4/02, 22nd Cross, 8th Main, III Block,
Jayanagar, Bangalore - 560 011, Karnataka, India Tel. No. 91-80-6533926 to
3928/6534170 & 73 Fax. No. 91-80-6534174 E-Mail. bukil@mail.cgl.co.in Satellite office - No. 658/664, Rajalakshmi Plaza, 100ft. Road, Gandipuram, Coimbatore
- 642 012, Tamil Nadu, India Tel. No.
91-422-2526453/2521829 Fax. No. 91-422-2525334 Cherupushpam Building, 5th
Floor, 300-6, Shanmugam Road, Ernakulam, Cochin - 682 031, Kerala, India Tel. No. 91-484-370860/3 Fax. No. 91-484-373738 E-Mail. anand.kumar.n@mail.cgl.co.in 3, Dr. M G R Salai,
(Kodambakkam High Road), Nungambakkam, Chennai - 600034, Tamil Nadu, India Tel. No. 91-44-28257375 Fax. No.
91-44-28231973/1974 E-Mail. tahilyani.dd@mail.cgl.co.in Satellite office No. 84-B, Mellakkall Main
Road, Kochadai, Madurai - 625016, Tamil Nadu, India Tel. No. 91-452-2382711/382 Fax. No. 91-452-2382640 Minerva House, 4th
Floor, 94, Sarojini Devi Road, Secunderabad - 500 003, Andhra Pradesh, India Tel. No. 91-40-27847270/27847090 Fax. No. 91-40-27842921 E-Mail. bajwa@mail.cgl.co.in (Satellite office) - G-3,
Vijay Apartments, Moghulrajpuram, Near Madhu Kalyana Mandapam, Vijayawada -
520010, Andhra Pradesh, India Tel. No. 91-866-2476783 Fax.
No. 91-866-2473561 |
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Services Centers : |
Northern Region 6/12, Kirti Nagar
Industrial Area, New Delhi - 110 015, India Tel. No.
91-11-25933524/25464968/25173139 Fax. No. 91-11-25173148 Church Road, PO Box 173,
Jaipur - 302001, Rajasthan, India Tel. No.
91-141-2376919/2376307 Fax. No. 91-141-2365371 E-Mail. opsharma@mail.cgl.co.in Village Khajurla, Outside
Jalandhar Octroi Post, Jalandhar - Phagwara Road, Jalandhar - 144 001,
Punjab, India Tel. No. 91-181-2261009/2260387 E-Mail. maniktala@mail.cgl.co.in D-8, Transport Nagar,
Lucknow -226 012, Uttar Pradesh, India Tel. No.
91-522-2433132/2432345 E-Mail. kane@mail.cgl.co.in Eastern Region 21, RN Mukherjee Road,
Kolkata - 700 001, West Bengal, India Tel. No.
91-33-22489160/22488911 Fax. No. 91-33-22489737 E-Mail. akpaul@mail.cgl.co.in Janpath Tower (Basement),
Ashok Nagar, Unit II, Bhubaneswar - 751 009, Orissa, India Tel. No 91-674-2531592 Fax. No. 91-674-2533521 E-Mail. yebbssd@dte.vsnl.net.in Opposite Narmada Apartment,
Exhibition Road, Patna - 800 001, Bihar, India Tel. No. 91-612-2239405 Fax. No. 91-612-2212751 E-Mail. bera@mail.cgl.co.in Western Region Mathurdas Mills Compound,
Near ESIC Bhavan, NM Joshi Marg, Lower Parel, Mumbai - 400 013, Maharashtra,
India Tel. No. 91-22-24922572/24947950 Fax. No. 91-22-24931713 E-Mail. bssawant@wr.cgl.co.in Southern Region 34 Dr. MGR Salai
(Kodambakkam High Road) Nungambakkam High Road, Chennai - 600 034, Tamil
Nadu, India Tel. No. 91-44-28274610 Fax. No. 91-44-28258565 E-Mail. trevor.j.dsouza@mail.cgl.co.in No. 26, 2nd Main
Road, Trustpuram, Chennai - 600024, Tamil Nadu, India Tel. No 91-44-24724096 20, II Main Road, New
Timber Yard Layout, Mysore Road, Bangalore - 560926, Karnataka, India Tel. No. 91-80-6755723 E-Mail. bukil@mail.cgl.co.in No. 9C Jigani Industrial
Area, Jigani Anekal Taluk, Bangalore-560 926, Karnataka, India Tel. No. 91-80-7825203 Fax. No 91-80-7825205 E-Mail. rajpalp@vsnl.com 1st Floor, 132,
Industrial Area, Rasulpura, Secunderabad - 500 003, Andhra Pradesh, India Tel. No.
91-40-27815938/26269001 E-Mail. bajwa@mail.cgl.co.in 35/772, South Janata Road,
Palarivattom, Cochin - 682 025, Kerala, India Tel. No.
91-484-2338102/2338856 E-Mail. anand.kumar.n@mail.cgl.co.in Sree Rajalakshmi Plaza,
658, Dr. Rajendra Prasad Road, (100 Feet Road), Gandhipuram, Coimbatore - 641
037, India Tel. No. 91-422-2496453 Telefax. No. 91-422-2495334 E-Mail. admincbt@mail.cgl.co.in |
DIRECTORS
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Name : |
Mr.
G. Thapar |
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Designation : |
Chairman
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Name : |
Mr.
S. M. Trehan |
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Designation : |
Managing
Director |
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Name : |
Mr.
J. Shaw |
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Designation : |
Director |
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Name : |
Mr.
K. Thapar |
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Designation : |
Director |
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Name : |
Mr.
S. Crowther |
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Designation : |
Director |
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Name : |
Mr.
D. C. Sanghi |
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Designation : |
Director |
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Name : |
Mr.
L. M. Thapar |
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Designation : |
Director
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Name : |
Mr.
S Bisht |
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Designation : |
Director |
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Name : |
Mr.
P. C. Gupta |
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Designation : |
Director |
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Name : |
Mr. R. Nirula |
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Designation : |
Director |
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Name : |
Mr. S. Labroo |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. S. M. Trehan |
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Designation : |
Chief Executive Officer |
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Name : |
Mr.
B. R. Jaju |
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Designation : |
Chief Financial Officer |
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Name : |
Mr.
W. Henriques |
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Designation : |
Company
Secretary |
MAJOR SHAREHOLDERS
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Names of Shareholders |
No. of Shares |
Percentage of Holding |
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Promoters (including Persons acting
in concert) |
20087724 |
38.36 |
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Indian Institutional
Investors |
2190596 |
4.18 |
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Bodies Corporate |
1052825 |
2.00 |
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Foreign Institutional
Investors |
4158705 |
7.94 |
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NRIs, OCBs, GDRs |
7730637 |
14.77 |
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Mutual Funds |
12178092 |
23.25 |
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General Public |
4953357 |
9.47 |
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Directors |
14720 |
0.03 |
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Total |
52366656 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Marketing
of transformers, switchgears, turn-key projects, capacitors, electric motors
- fractional horse power motors, LT motors, alternators, HT motors, DC
machines, rail transportation, fans, luminaries, light sources, telephone
instruments, telecommunication switching, transmission and access products,
EPABX systems and agricultural and domestic pumps, etc. |
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Products : |
The company's products and
services are as under : Power
Systems
Transformers : Ø
Power Transformers Ø
Industrial
Transformers Ø
Amorphous Core
Transformers Ø
Dry Type Transformers Ø
Freight Loco
Transformers Ø
Furnace Transformers Ø
Rectifier Transformers Ø
Reactors HT Switchgear : Ø
Bulk Oil, Vacuum and
SF6 Circuit Breakers up to 400 kv Ø
Vacuum Interrupters
(Bottles) Ø
Instrument
Transformers up to 400 kv Ø
On-load tap Changers Ø
Condenser Bushings Ø
Lightening Arresters Ø
Vacuum Pressure
Impregnation Plants Capacitors : Ø
LT & HT Capacitors
(MPP & APP) Ø
APFC Panels Ø
MFD Condensers Ø
Reactive Power Control
Panels (Wind Generation) Ø
Power Quality
Solutions Engineering Projects : Ø
Systems Engineering Ø
Projects on turnkey
basis from concept to commissioning: Power Generation, Transmission &
Distribution 400 Volts to 400 kv Ø
Industrial
Electrification for Process Industries, Power, Cement, Paper Metallurgy,
Steel Petrochemicals, etc Ø
Control and Automation
Projects for Substations Ø
Railway Traction
Substations Ø
Railway Overhead
Electrification's Industrial
Systems
Motors: Ø
AC Motors from 7 Watts
to 10 Megawatts - All types including Flame Proof and Increased Safety Ø
DC Motors Ø
Alternators / AC
Generators Ø
Stampings &
Laminations, Tools Rail Transportation: Ø
Traction Motors Ø
Signalling Relays Ø
Point Machines Ø
Axle Counters Ø
Solid State Signalling
Systems Ø
Electric's for Locus,
DEMUs, EMUs Consumer
Products
Lighting : Ø
Fluorescent Tube
Lights, Compact Fluorescent Lamps Ø
Incandescent Lamps Ø
Reflux Lamps, Reflux
Systems Ø
High Pressure
Mercury/Sodium Vapour Lamps Ø
Metal Halide Lamps Ø
Mirror Optics Ø
Streetlights,
Floodlights Ø
Luminaries - Domestic,
Commercial, Industrial Ø
High Masts Ø
Lighting Software Ø
Accessories Fans : Ø
Fans: Ceiling, Table,
Wall Mounting and Pedestal Ø
Kitchen Fresh Air Fans Ø
Cooler Kits, Heat
Convertors Ø
Industrial Fans:
Exhaust Fan, Air Circulator and Mancooler Pumps : Ø
Domestic Ø
Agriculture Ø
Submersible Ø
Jet Ø
Industrial International : Ø
Exports of all
Crompton Greaves manufactured and factored products directly and via global
EPCs operating from India. Digital
Informatics : Ø
Software Development
and Networking Ø
Value added Services
and System Integration Consultancy Services Telecommunication : Ø
Public Switching Products -CDOT - 256 Port Rural Automatic Exchanges (RAX) -CDOT - Single Base Module (SBM), Rural Automatic
Exchanges -CDOT - Max - L Exchanges up to 10, 000 Lines -Max - XL Exchanges up to 40000 Lines Ø
Private Switching Products Digital EPABX Systems -
CORAL range up to 6000 Ports (ESI Telecom, Israel) Maintenance support for OKL
EPABX systems Ø
Transmission Products -2/8 Mbps OLTE and MUX Equipments, -2/34 Optimum
Equipments, -2/140 Optimum Equipments, STM - 1
Equipments, -CDOT: TDMA-PMP Digital Multi Access, Rural Radio
(Digital MARR) Equipments K
Access Products -CorDECT Wireless Local Loop (WLL) Equipments, - High
Bit Digital Subscriber Line (HDSL)
Equipments Ø
Terminal Products -Electronic Push Button Telephones, - Fax Machines, -
Modems (Data/Voice) Generic Names of Principal
Products/Services of the company
are as under :
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Exports to : |
Japan,
Korea, USA, Malaysia, U.K. and Vietnam |
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PRODUCTION STATUS
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Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
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Transformers, Reactors
& Accessories thereof |
KVA Nos. |
90,00,000 19,687 |
1,85,00,000 50,750 |
1,13,60,480 8.766 |
|
Switchgear, Controls
Equipments & Accessories thereof |
Nos. |
72,000 |
2,01,550 |
118,417 |
|
1. Motors, Alternators & Pumps |
HP Nos. MW |
14,39,250 1,98,835 120 |
42,07,104 16,76,500 120 |
19,42,261 9,18, 907 -- |
|
2. Electrical Steel Stamping & Laminates |
MT |
7,500 |
10,000 |
9,593 |
|
Electric Fans, Ventilation
& Pollution Control Systems |
Nos. |
10,00,000 |
28,56,000 |
17,45, 368 |
|
Lighting-Electric Lamps |
M. Pcs. |
19.46 |
88 |
32 |
|
Communications, Computer
Systems, Software & Accessories |
Rs. Nos. Lines |
40 mils. 4,75,000 1,20,000 |
40 mils. 3,83,000 3,80,000 |
Nil 27,269 1,13,500 |
|
Other Items |
Rs. |
-- |
100 mils. |
Nil |
|
|
Sets |
Nil |
Nil |
Nil |
|
|
Nos. |
24,00,350 |
24,05,970 |
9,18,164 |
|
|
System |
700 |
700 |
Nil |
GENERAL INFORMATION
|
Customers : |
Ø
Hyundai Engineering,
Korea Ø
ABB, USA Ø
Siemens Limited Ø
Power Grid Corporation
India Limited Ø
State Electricity
Board, Mumbai, Maharashtra, India Ø
Lohia Starlinger
Limited Ø
Kirloskar Bros.
Limited Ø
Larsen & Toubro
Limited Ø
Whirlpool India
Limited Ø
Sulzer Pumps (India)
Limited Ø
Boving Fouress Limited Ø
Indian Railways Ø
Municipal Corporation Ø
Jindal Steel Ø
Tata Companies Ø
Bharat Heavy
Electricals Limited Ø
Alstom Power Ø
Mather & Platt
(India) Ø
Life Insurance
Corporation Ø
Bharat Sanchar Nigam
Limited Ø
BSES Limited |
|
|
|
|
No. of Employees : |
Around
6058 |
|
|
|
|
Bankers : |
v
ABN Amro Bank v
Bank of Baroda v
Bank of India v
Bank of Maharashtra v
Canara Bank v
Corporation Bank v
ICICI Bank v
IDBI Bank Limited v
Standard Chartered
Bank v
State Bank of India v
Syndicate Bank v
UCO Bank v
Union Bank of India v
Vijaya Bank |
|
|
|
|
Facilities : |
Secured Loan 2005 2004 Debentures
: (Privately
placed with Financial Institutions) 13.50%
Secured Non-Convertible Debentures of
Rs. 100/- each 50,00,000 redeemable in 18
equal quarterly installments due from 15th
June, 2000 -- 55.500 Term
Loan From
Banks 417.500 567.500 From
Financial Institutions 550.000 125.000 Foreign
Currency Term Loan From
Banks 439.600 -- Cash
Credit/Working Capital Demand
Loan from Banks Foreign
Currency Loans
1081.100 1789.300 Total 488.200
2537.300 Unsecured
Loan Fixed
Deposits 363.100 517.000 (repayable
within a year: Rs. 363.100 million
Previous year Rs. 147.900 million) Inter-Corporate
Deposits From
Others 27.500 27.500 (maximum
amount outstanding at any time
during the year Rs. 27.500 million previous
year Rs. 27.500 million) Others Interest
free Sales Tax Loans and Special Incentive
Loans from Central and State Governments
266.600 54.700 Total 657.200 799.200 |
|
|
|
|
Banking Relations : |
Good
|
|
|
|
|
Auditors : |
Sharp & Tannan Chartered
Accountants |
|
|
|
|
Subsidiaries : |
·
CG Capital &
Investments Limited ·
CG-PPI Adhesive
Products Limited ·
CTR Manufacturing
Industries Limited ·
CG Motors Private
Limited |
|
|
|
|
Associates : |
·
CG Newage Electrical
Limited ·
CG Lucy Switchgear
Limited ·
PAXONET Communications
Inc. U.S.A. ·
Hitachi CG Motor
Engineering Private Limited ·
Brook Crompton Greaves
Limited ·
Power Equipment
Limited, Dubai ·
Radiant Electronics
Limited ·
CG Hometech Limited ·
CG Comnet Limited ·
CG Global Limited ·
CG Glass Limited ·
Ensave Devices Private
Limited ·
CG Igarashi Motors
Limited ·
International
Components India Limited ·
CG Schlumberger
Electricity Management Limited ·
CG Smith Software
Private Limited ·
CG Maersk Information
Technologies Private Limited ·
Karamchand Thapar
(Africa) Limited, Mauritius |
|
|
|
|
Memberships : |
Confederation of Indian
Industry |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60,000,000 |
Equity
Shares |
Rs.10/- |
Rs.600.000 millions |
Issued, Subscribed
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
52,375,116 |
Equity
Shares |
Rs.10/- |
Rs. 523.700 millions |
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
52,366,656 |
Equity
Shares |
Rs.10/- |
Rs. 523.700 millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
523.700 |
523.700 |
523.700 |
|
|
2] Reserves & Surplus |
3564.000 |
2881.100 |
3896.500 |
|
NETWORTH
|
4087.700 |
3404.800 |
4420.200 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2488.200 |
2537.300 |
3155.600 |
|
|
2] Unsecured Loans |
657.200 |
799.200 |
1436.600 |
|
TOTAL
BORROWING
|
3145.400 |
3336.500 |
4592.200 |
|
|
|
|
|
|
|
TOTAL
|
7233.100 |
6741.300 |
9012.400 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
3420.400 |
3575.900 |
3869.900 |
|
Capital work-in-progress
|
94.600 |
108.700 |
69.400 |
|
|
|
|
|
|
|
INVESTMENT
|
682.100 |
699.300 |
739.600 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
1770.900
|
1742.600 |
1931.500 |
|
|
Sundry Debtors
|
5410.800
|
5268.500 |
4750.600 |
|
|
Cash & Bank Balances
|
734.200
|
761.500 |
547.400 |
|
|
Loans & Advances
|
1095.100
|
1981.200 |
2233.800 |
Total Current Assets
|
9011.000
|
9753.800 |
9463.300 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
5818.300
|
7017.800 |
5661.300 |
|
|
Provisions
|
156.700
|
378.600 |
165.600 |
Total Current Liabilities
|
5975.000
|
7396.400 |
5826.900 |
|
Net Current
Assets
|
3036.000
|
2357.400 |
3636.400 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
-- |
-- |
697.100 |
|
|
|
|
|
|
|
TOTAL
|
7233.100 |
6741.300 |
9012.400 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
Sales Turnover [including other income]
|
22171.600 |
19090.200 |
17563.700 |
|
|
|
|
|
Profit/(Loss) Before Tax
|
1248.100 |
895.200 |
372.000 |
Provision for Taxation
|
100.300 |
186.900 |
90.300 |
Profit/(Loss) After Tax
|
1147.800 |
708.300 |
281.700 |
|
|
|
|
|
Export Value
|
-- |
-- |
2616.000 |
|
|
|
|
|
Import Value
|
1431.200 |
987.700 |
NA |
|
|
|
|
|
Total Expenditure
|
20923.500 |
18195.000 |
17191.700 |
QUARTERLY
RESULTS
|
PARTICULARS |
|
30.06.2005 [1st Quarter] |
30.09.2005 [2nd Quarter] |
31.12.2005 [3rd Quarter] |
|
|
|
|
|
|
|
Sales Turnover |
|
5198.100 |
5546.000 |
6478.700 |
|
Other Income |
|
77.000 |
65.200 |
66.100 |
|
Total Income |
|
5275.100 |
5611.200 |
6544.800 |
|
Total Expenditure |
|
4743.400 |
5017.000 |
5888.300 |
|
Operating Profit |
|
531.700 |
594.200 |
656.500 |
|
Interest |
|
74.600 |
59.000 |
65.900 |
|
Gross Profit |
|
457.100 |
535.200 |
590.600 |
|
Depreciation |
|
105.400 |
104.100 |
103.800 |
|
Tax |
|
39.200 |
41.900 |
54.700 |
|
Reported PAT |
|
312.500 |
325.200 |
432.100 |
200506 Quarter 1 --------------- Notes
Expenditure Includes (Increase)/Decrease in Stock in Trade Rs (318.80)million
Consumption of Raw Materials Rs 3951.60 million Staff Cost Rs 410.40 million
Other Expenditure Rs 700.20 million Tax Includes Provision for Current Tax Rs
29.60 million Fringe Benefit Tax Rs 9.60 million EPS is Basic & Diluted
Status of Investor Complaints for the quarter ended June 30, 2005 Complaints
Pending at the beginning of the quarter Nil Complaints Received during the
quarter 06 Complaints disposed off during the quarter 06 Complaints unresolved
at the end of the quarter Nil 1. The above unaudited financial results for the
quarter ended June 30, 2005 were approved at the Meeting of the Board of
Directors held on July 22, 2005. after being recommended by the Audit Committee
and subjected to Limited Review by the Statutory Auditors of the Company. 2.
With respect to Auditors' qualifications on the Company making no provision
regarding excise and sales tax demands which aggregate to Rs 62.90 million (net
of tax) (PY Rs 45.60 million) for the year ended March 31, 2005, (amount
unchanged as on June 30, 2005), the Company has filed appeals against the
orders passed, and has enough legal merits in its favour and is confident that
these demands would be dismissed in favour of the Company and hence, no
provision is considered necessary. 3. The Company follows the practice of
consistently reviewing and providing the doubtful debts, if any, as an
appropriation of profits at the year-end. Similarly the Company also follows
the practice of providing for Warranty Claims on the sale of its products, if
any, based on its past experience, only at the end of the year. 4. The Deferred
Tax Asset of Rs 144 million as of March 31, 2005 has not been recognised in the
books of account since this forms part of the amount of deferred tax asset
adjusted during earlier years against the balance in Securities Premium Account
vide order dated September 15, 2003 of High Court of Judicature at Mumbai. An
amount of Rs 29.60 million has been provided as current tax and Rs 9.60 million
as fringe benefit tax as per section 115(JB) and 115 (WA) respectively, of the
Income Tax Act 1961. 5. During the quarter, the Company has completed all the
required formalities with respect to acquisition of the Belgium- based Pauwels
Group, through its wholly owned subsidiary CG International B.V. incorporated
in Amsterdam, Netherlands. 6. Figures of the previous period, wherever
necessary, have been regrouped and re-classified to conform with those of the
current period.
200509 Quarter 2 --------------- Notes Expenditure Includes (Increase)/Decrease in Stock in Trade Rs (85.10) million Consumption of Raw Materials Rs 3938.40 million Staff Cost Rs 364.90 million Other Expenditure Rs 798.80 million Tax Includes Provision for Current Tax Rs 36.40 million Deferred Tax Rs 64.00 million Fringe Benefit Tax Rs 5.50 million EPS is Basic & Diluted Status of Investor Complaints for the quarter ended September 30, 2005 Complaints Pending at the beginning of the quarter Nil Complaints Received during the quarter 02 Complaints disposed off during the quarter 02 Complaints unresolved at the end of the quarter Nil 1. The above unaudited financial results for the quarter ended September 30, 2005 were approved at the Meeting of the Board of Directors hold on October 14, 2005, after being recommended by the Audit Committee. 2. With respect to Auditors qualifications on the Company making ''no provision'' regarding excise and sales tax demands which aggregate to Rs 62.90 million, (net of tax) (PY Rs 45.60 million) for the year ended March 31, 2005. (amount unchanged as on September 30, 2005), the Company has filed appeals against the orders passed, and has enough legal merits in its favour and is confident that these demands would be dismissed in favour of the Company and hence, no provision is considered necessary. 3. The Company follows the practice of consistently reviewing and providing the doubtful debts, if any, as an appropriation of profits at the year-end. 4. The Company acquired Pauwels Group of Belgium through its wholly owned subsidiary, CG International B.V., Netherlands on May 13, 2005. The provisional and un-audited figures (as per Belgium GAAP) are From May 13, 2005 to September 30, 2005 In Million Euros In Rs Million Sales 124.0 6634 Profit Before Tax 1.6 86 Unexecuted Order Book 239.6 12716 Average Exchange rate during the period - 53.50 Exchange rate as on September 30, 2005 - 53.07 5. The Company has declared an interim dividend for the financial year 2005-06 of Rs 2.00 (Rupees Two Only) per share on 5,23,66,656 equity shares of Rs 10/- each. Notice is hereby given pursuant to section 154 of the Companies Act, 1956 that the record Date for the Interim dividend will be October 21, 2005 and the date for payment will be October 31, 2005. 6. Figures of the previous period, wherever necessary, have been regrouped and re-classified to conform with those of the current period.
200512 Quarter 3 --------------- Notes EPS is Basic & Diluted Status
of Investor Complaints for the quarter ended December 31, 2005 Complaints
Pending at the beginning of the quarter Nil Complaints Received during the
quarter 01 Complaints disposed off during the quarter 01 Complaints unresolved
at the end of the quarter Nil 1. The above unaudited financial results for the
quarter and nine months ended December 31, 2005 were approved at the Meeting of
the Board of Directors held on January 25, 2006, after being recommended by the
Audit Committee and subjected to Limited Review by the Statutory Auditors of
the Company. 2. With respect to Auditors qualifications on the Company making
no provision regarding excise and sales tax demands which aggregate to Rs 62.90
million, (net of tax) (PY Rs 45.60 million) for the year ended March 31, 2005,
(amount unchanged as on December 31, 2005), the Company has filed appeals
against the orders passed, and has enough legal merits in its favour and is
confident that these demands would be dismissed in favour of the Company and hence,
no provision is considered necessary. 3. Since there is no taxable income under
the normal computation, provision for tax has been made under Section 115JB of
the Income Tax Act, 1961 being the Minimum Alternate Tax. Provision for a
Wealth Tax has been made as per the provisions of Wealth Tax Act, 1957. 4. The
Company follows the practice of consistently reviewing and providing the
doubtful debts, if any, as an appropriation of profits at the year-end. 5.
Staff Cost includes Rs 115.40 million being payment of under VRS to employees
of closed division. 6. The Company acquired Pauwels Group of Belgium through
its wholly owned subsidiary, CG International B.V., Netherlands on May 13,
2005. The provisional and un-audited figures (as per Belgium GAAP) are 7. From
May 13, 2005 to December 31, 2005 In Million Euros In Rs Million Sales 209.4
11242 Profit Before Tax 6.3 338 Unexecuted Order Book 270.8 14496 Average
Exchange rate during the period - 53.69 Exchange rate as on December 31, 2005 -
53.53 The above profit before tax includes exceptional gain on account of
foreign exchange income of around Rs 54 million. 8. The Company has declared an
interim dividend for the financial year 2005-06 of Rs 2.50 (Rupees Two and
paise fifty only) per share on 5,23,66,656 equity shares of Rs 10/- each. 9.
Figures of the previous period, wherever necessary, have been regrouped and
re-classified to conform with those of the current period.
KEY RATIOS
|
PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
Debt
Equity Ratio |
0.90 |
1.06 |
1.25 |
|
Long
Term Debt Equity Ratio |
0.50 |
0.55 |
0.65 |
|
Current
Ratio |
1.15 |
1.13 |
1.15 |
|
TURNOVER
RATIOS |
|
|
|
|
Fixed
Assets |
2.83 |
2.39 |
2.19 |
|
Inventory
|
12.64 |
10.04 |
8.94 |
|
Debtors |
4.16 |
3.68 |
3.51 |
|
Interest
Cover Ratio |
6.07 |
2.94 |
1.42 |
|
Operating
Profit Margin (%) |
8.62 |
8.70 |
8.40 |
|
Profit
Before Interest and Tax Margin (%) |
6.73 |
6.31 |
5.67 |
|
Cash
Profit Margin (%) |
7.06 |
5.68 |
3.99 |
|
Adjusted
Net Profit Margin (%) |
5.17 |
3.29 |
1.27 |
|
Return
on Capital Employed (%) |
21.88 |
15.66 |
10.78 |
|
Return
on Net Worth (%) |
31.99 |
15.94 |
4.81 |
LOCAL AGENCY FURTHER INFORMATION
HISTORY
The company was incorporated
on 28th April 1937 at Mumbai in Maharashtra as a Private Limited
Company having Company Registration Number 2641.
Subject was incorporated as a
private limited liability company as Crompton Parkinson (Works), it later
changed to Greaves Cotton & Crompton Parkinson in July, 1937 and
subsequently after amalgamation in January, 1966, changed its name to Crompton
Greaves in August, 1966.
Subject was incorporated in
the year 1937 as a 100% subsidiary of Crompton Parkinson Limited, UK (CPL),
under the name of Parkinson Works Limited (PWL). In 1948, the L M Thapar Group
company, Greaves Cotton & Company Limited acquired 26% interest in the
company, which was later increased to 50% in 1950. In 1966, a joint venture company (between GCCL & CPL),
Greaves Cotton and Crompton Parkinsons Limited, the sales agents of the
erstwhile PWL, was amalgamated with the PWL.
The company was renamed as Crompton Greaves Limited. The company came out with an IPO in 1967. From a single located company manufacturing
ceiling fans and AC industrial motors, subject has grown into a multinational,
multi product company. Since 1978, CGL
entered into various technical collaboration agreements with renowned companies
from USA, UK, Europe and Japan. While many of these companies are being
amalgamated with the company, it is also divesting stake in many a company for
realising cash.
The company has collaboration
with Westinghouse Electric Corporation, USA, for 400-kv transformers, Emile
Haefely, Switzerland, for bushings, Hundt and Weber, Germany for air-circuit
breakers; Mitsubishi, Japan for gas-circuit breakers; etc. Also, collaboration
has been entered into for its telecom division with Graphite and SDI, USA, for
fax mail. The company has ten full-fledged ultra-modern facilities/laboratories
for updating technology, adapting application and helping production. The
company has submitted its bid to the DoT for provision of cellular services in
seven circles in association with Millicone, Luxembourg. Crompton Greaves Corporate Finance &
Administration has been awarded ISO 9002 certification by KPMG quality
registrar, USA.
During 1996-97, Indocom
Industries and Lumino Lamps were amalgamated with the company and GDR were
issued for US $ 50 millions, which was fully subscribed at Rs. 265/- per GDR.
The Kersons Manufacturing Company of India and Goa Electrical and Fans were
also amalgamated with the company during the year1997-98, During 1999-2000 CG
Polycrete and Punjab Power Generation Machines were amalgamated with the
company and they ceased to be the company's subsidiaries.
In September, 2000 the
company disinvested its shareholding in Skycell Communications for Rs. 1240
millions and recently, it completed the transaction for sale of its low tension
control gear unit in Nasik for a consideration of Rs.760 millions to a French
multinational, Schneider Electric, thereby making a profit of Rs. 300 millions.
The company has disinvested its shareholding in CG Glass Limited, CG Elin Power
Systems Limited.
During the year 2002 Ensave
Devices Private Limited and LEC India Software Centre Private Limited have been
amalgamated with CG Maersk Information Technology Private Limited. The company
has suspended its Capacitors Division at Pune, Informatics Division at
Bangalore and Industrial Electronics Division at Nashik.
Biodata
Crompton
Greaves (CGL) is a BM Thapar Group Company, incorporated in Apr.'37 as a
private limited company as Crompton Parkinson (Works), it later changed to
Greaves Cotton & Crompton Parkinson in Jun.'37 and subsequently after
amalgamation in Jan.'66, changed its name to Crompton Greaves in Aug.'66.
It is mainly concentrating in Power Systems, Industrial Systems and
Consumer Products and Digital business. The company is mainly engaged in the
manufacture, distribution and sale of electrical and electronic equipment/
systems. CGL's products includes Transformers, Switchgears, Motors,
Alternators, Fans, Lighting, Pumps, Electrical Steel Stamping & Laminates, Telecom
Business Solutions and Computer Systems & Software etc.
It is the market leader in number of products in the Electrical
Engineering Sector. The company is the market leader in the Transformers
Business with a market share of 18%. The company's Stampings Division and Fan
Business is a market leader with 23% market share and 21% market shares
respectively. The company enjoys market leadership for AC Motors and the second
position in AC Generators and DC Motors.
Its manufacturing base covers in 22 locations across five states (Goa,
Gujarat, Karnataka, Maharashtra and Madhya Pradesh) in India. The Company is
also having Engineering Project Division in Chennai and this was relocated to
Gurgaon during 2004-05. The subsidiaries of CGL are CG Capital and Investments
Ltd, CG-PPi Adhesive Products Ltd and CG Motors Pvt Ltd. It exports its
products to 60 countries worldwide.
CGL designs and manufactures the widest range of Power & Distribution
Transformers and Reactors from 160 kVA to 415 kVA, 500kV Class to fulfill the
specific demands of the Power & Industrial Sector and the Railways. Further
the division has capability to manufacture transformers from 400 kVA to 900000
kVA (in a bank) 3.3 kVA to 500 Kv class. The company's LT Motors division is the
first in India to develop 110 to 160 kVA aluminum body Alternators. Further the
company has developed Motors and Alternators for the modern 4000 HP Broad Gauge
Diesel Electric Locomotives and also commercialized 630 frames.
During the year 2004-05 the company enhanced its installed capacity of
Transformers, Reactors & Accessories, Switchgear control equipment &
Accessories, Motors and Electric Steel Stamping & Laminates by 10,00,000
KVA, 6000 NOS, 74850 NOS, 50000 HP and 5000 MT respectively. With this expansion
the total installed capacity of Transformers, Reactors & Accessories,
Switchgear control equipment & Accessories, Motors and Electric Steel
Stamping & Laminates has increased to 1,95,00,000 KVA, 23800 NOS, 321850
NOS, 4348570 HP and 15000 MT respectively.
The Company is having Joint Venture agreement with Brook Cromption
Greaves Ltd,CG Lucy Switchgear Ltd. and Hitachi CG Motor Engineering Pvt Ltd.
During Sep'04,the company has acquired the entire holding of 816000 shares of
Rs.10 each in Hitachi CG Motor Engineering Pvt Ltd(HCME) which was earlier held
by Hitachi Ltd and consequently HCME become the subsidiary of Crompton Greaves
Ltd.
The company has collaboration with Westinghouse Electric Corporation, US,
for 400-kv transformers; Emile Haefely, Switzerland, for bushings; Hundt and
Weber, Germany for air-circuit breakers; Mitsubishi, Japan, for gas-circuit
breakers; etc. Also, collaborations have been entered into for its telecom
division with Graphnet and SDI, US, for fax mail.
Indocom Industries and Lumino Lamps was amalgamated with the company
during 1996-97. The Kersons Manufacturing Company of India and Goa Electricals
and Fans were also amalgamated with the company during the year 1997-98. During
99-00, CG Polycrete and Punjab Power Generation Machines were amalgameted with
the company and they ceased to be the company's subsidiaries. During 2002
Ensave Devices Pvt Ltd and LEC India Software Centre Pvt Ltd has been
amalgamated with CG Maersk Information Technology Pvt Ltd.
During May 2005 the company has completed the acquisition of the
Belgium-based Pauwels Group which is having its manufacutring facilites in
Belgium, Ireland, Cananda, USA and Indonesia. Pauwels transformer range is upto
500 Kv as against 400 kV for the company. This acquisition was done under the
name of a company CG International BV which was incorporated in April 2005, in
Amsterdam, Netherlands.
In Sep. 2000, the company disinvested its shareholding in Skycell
Communications for a consideration of Rs 76 cr to a French multinational,
Schneider Electric, thereby making a profit of Rs 30 cr. The Company has
disinvested its shareholding in CG Glass Ltd, CG Elin Power Systems Ltd. During
2002 the company has suspended its Capacitors Division at Pune,Informatics Division
at Bangalore and Industrial Electronics Division at Nashik.
During 2004-05, CG Capital & Investments Ltd, which is a 100%
subsidiary of the Company, divested its 82.06% shareholding consisting of
228098 equity shares of Rs.100/- each in one its subsidiaries, CTR
Manufacturing Industries Ltd. Consequently, CG-PPI Adhesive Products Ltd is the
only subsidiary of CG Capital & Investments Ltd.
During 2004-05 the company's LT Motors Division has commissioned an EOU
facility to manufacture AC Motors from frame 62 to 300, which will increase
capacity by a further 60000 Motors per annum. Further the Stampings Divisions
has taken a major step in capacity expansion, cost reduction and better
competitiveness by setting up an independent, 5000 MT per annum unit at
Ahmednagar. The Fans Divisions has taken steps to set up an additional facility
for manufactures of fans at Baddi in Himachal Pradesh.
The
company also has Joint Ventures with different companies listed here under :
Ø
CG Glass Limited
Ø
CG Programmable
Solutions Private Limited
Ø
CG Igarashi Motors
Limited
Ø
International Components
India Limited
Ø
CG PPI Adhesive Products
Limited
Ø
CG Schlumberger
Electricity Management Limited
Ø
CG Lucy Switchgear
Limited
Ø
CG Smith Software
Limited
Ø
CoreEL Microsystems Inc.,
USA
Ø
CG Maersk Information
Technologies Limited
Ø
Hitachi CG Motor
Engineering Limited
Ø
CG Elin Power Systems
Limited
Ø
CG Brook Hansen Electric
Motors Limited
Ø
Power Equipment Limited,
Dubai
Ø
Brook Crompton Greaves
Limited
Ø
CG Newage Electrical
Limited
Ø
Paxonet Communications
Inc, U.S.A.
The
company is in trade terms with :
Ø
Advance Diecast
Ø
Glostar Electricals
Private Limited
Ø
Ashapura Enterprises
Ø
Aqua Flow
Ø
Bestlite Electricals
Private Limited
Ø
Govik Electricals
Ø
National Wire &
Metal Limited
Ø
Navnath Fabricators
Ø
Desai & Brothers
Ø
Amit Industries
Ø
Anant Engineering Works
Ø
Gee Cee Oswal
Enterprises
Ø
Rushabh Enterprises
Ø
RK Lighting Private
Limited
Ø
Paras Enterprise
Ø
Paras Pump Private
Limited
Ø
Sundara Industries
(India)
Ø
United Industrial
Components
Ø
Vishgral Industries
Ø
J S Engineering Works
Ø
Suraj Foundries Limited
Ø
Jayanti Castings Private
Limited
Ø
Shakti Enterprises
Ø
Hindustan Forging &
Steel
Ø
Govik Electricals
Private Limited
Ø
Shailesh Engineering
Company
Ø
Kelin Electricals
Private Limited
Ø
Letter Emporium
Ø
Mitsubishi Electric
Corporation, Japan
Ø
Allied Signal
Technologies Inc, USA
Ø
Hyundai Heavy Industries
Company Limited, Korea
The company has been
accredited with ISO 9001 and ISO 14001 Certifications.
The company also received
approvals from the CESI, CSA, BASEEFA and CE for some of its products.
The company has technical
collaboration with the following :
Ø
VNIIIS, Russia
Ø
Hitachi Limited, Japan
Ø
Eurogen, Italy
Ø
Siemens Limited, Germany
Ø
Mitsubishi Electric
Corporation, Japan
Operations
For the first time in the history of the Company, the Company has recorded a
'three digit' profit before tax and profit after tax of Rs.124.81 crores and
Rs.114.78 crores respectively, an impressive increase of 39% and 62%
respectively as compared with last year.
The Company has attained a position of strength, both financially and
operationally, in its business areas; a testimonial to the Company's focussed
strategies over the years. The Company achieved a turnover growth of 16% this
year.
The Company is now one of the few Indian multinationals, a status that it
acquired recently through its strategic acquisition of the Pauwels
Group-Belgium. The details of this acquisition are given on Pages 7 & 8 of
this Report.
Subsidiary Companies
During the year, the Company, which held 49% shareholding in Hitachi CG
Motor Engineering Private Limited (HCME), a joint venture with Hitachi Ltd,
Japan, acquired the balance 51% shareholding held by Hitachi Ltd, thus making
HCME a 100% subsidiary of the Company. Subsequently, the name of HCME has been
changed to 'CG Motors Private Limited'. During the year, CG Capital &
Investments Ltd, which is a 100% subsidiary of the Company, divested its 82.06%
shareholding consisting of 2,28,098 equity shares of Rs.100/- each in one of
its subsidiaries, CTR Manufacturing Industries Ltd. Consequently, CG-PPI
Adhesive Products Ltd is the only subsidiary of CG Capital & Investments
Ltd.
Hence, in terms of the provisions of the Companies Act, 1956, CG-PPI
Adhesive Products Ltd is also the Company's subsidiary.
To implement and effectuate the acquisition of the Pauwels Group which
the Company acquired in its entirety, a company under the name and style of CG
International BY was incorporated in April, 2005, in Amsterdam, Netherlands,
which is also a 100% subsidiary of the Company. The Company has invested an
amount of EUR 6 Million (equivalent to Rs.33.95 crores) in the paid-up capital
of CG International B.V.
The Company has obtained an exemption under Section 212 of the Companies
Act, 1956, from annexing to this Report, the Annual Reports of CG Capital &
Investments Ltd, CG-PPI Adhesive Products Ltd and CG Motors Private Limited,
for the year ended 31 st March, 2005. However, if any Member of the Company or
its Subsidiaries so desires, the Company will make available, the annual
accounts of the Subsidiaries to them, on request. The same will also be
available for inspection at the Registered Office of the Company and of its
Subsidiaries, during working hours upto the date of the Annual General Meeting.
The details of each Subsidiary with respect to capital, reserves, total
assets, total liabilities, details of investment (except in case of investment
in subsidiaries), turnover, profit before taxation, provision for taxation,
profit after taxation and proposed dividend are detailed at Pages 95 & 96
of this Report.
The company’s fixed assets of
important value include Freehold Land, Leasehold Land, Buildings, Plant &
Machinery, Railway Siding, Furniture & Fixtures and Vehicles.
Looking Ahead
All economic indicators point towards the manufacturing sector being the
future driver of India's economic growth.
India is today a preferred destination for sourcing various engineering
goods not only due to low cost but also due to high quality of products, services,
scale of operations and technical competence that the Indian workforce
provides. Although the climate for the manufacturing sector is bright, the
concern is the threat of imminent competition from global players who are
already in the process of setting up manufacturing facilities in India. The
market is expected to remain competitive with an added element of competition
from imported products.
As per the 'International Energy Outlook 2004', the electricity sectors
of developing Asia are expected to be the fastest growing in the world in the
next two decades.
The electrical engineering industry is experiencing favourable market
conditions, fuelled by the growth of the power generation and transmission
sector and the industrial sector; the Index for Industrial Production was 8.4%
as compared with 7% last year. The proposed capacity addition of 41,110 MW
during the 10th five-year plan, will generate demand for evacuation and
transmission of power, which will be the first driver for growth in the coming
years.
The rise in demand for general purpose industrial motors in all segments
of industry spurred by the upturn in industrial production will augur well for
the motors business. The current upsurge in housing and commercial sector
projects and availability of housing loans at lower interest rates and the
priority given for rural infrastructure developments under the National Common
Minimum Programme are expected to stimulate demand for consumer products in the
future.
Globally, the market demand for transformers and switchgear has grown
considerably during the last year with several international manufacturers
setting up additional capacities in China, the Far East and India.
Increasingly, Indian manufacturers are upgrading their facilities to world
standards, with state-of-the-art testing facilities; they are also aggressively
pursuing International product certifications with quality of products being
certified by Internationally accepted testing agencies. With these growing
technological capabilities and competitiveness, Indian manufacturers are
steadily becoming the preferred choice of foreign buyers. India is also
cost-competitive in foreign markets, despite the increase in critical raw
material prices. Although the demand for these products from China is high,
commercial barriers of the Chinese market will inhibit the ability of Indian
manufacturers to respond to the Chinese demand. Indian manufacturers export
transformers and switchgear to over 50 countries, which is evidence of this preference.
Industrial growth in the Indian sub-continent will further add to demand.
Industry has responded to these buoyant market conditions by expanding
capacities and range of power sector solutions. International heavy engineering
equipment manufacturers have already declared plans to set up operations in
India, which will increase the competition for Indian Companies. The total
production of transformers has increased by approx 25% in the last year and the
total production of switchgear has increased by approx 8%. The APDRP will
specially benefit the MV and EHV switchgear segment. Increased output of
transformers will result in increased demand for HT circuit breakers.
The International market demand for motors is showing a positive direction
with increased industrialisation. There is an identified demand spurt for
diesel generating sets and alternators in South-East Asia. In the price
sensitive low voltage motors and fractional horse power motors, Chinese motors
continue to dominate the market. The growth in South-East Asia and Bangladesh
will be contributing factors for demand from the transportation segment. In the
industrial motors segment also, there is now greater acceptability of Indian
products due to international standards of Indian manufacturers. The future
outlook for motors other than the price sensitive, low-end motors appears
encouraging.
To seize the above opportunities in the respective business areas, the
Company has already initiated several measures to consolidate its present
position as well as strengthen its future ability to compete both in India and
Internationally. Some of these measures are:
(i) The Pauwels Acquisition described at Pages 7 & 8 of this Report,
which will give the Company transformer manufacturing facilities in five
countries, access to the Pauwels global marketing network and the reputed
Pauwels brand.
(ii) Conscious efforts as mentioned above, to set up new manufacturing
facilities and also expand the existing manufacturing facilities in low-cost
high-productivity locations, and also upgrade its manufacturing facilities to
be best-in-class.
(iii) Several business initiatives in the areas of Fiscal Management,
Human Resources, Information Technology, e-Sourcing, e-Commerce, Six Sigma,
CGPS, Quality Management Systems and Product Lifecycle Management as described
at Pages 9 to 13 of this Report.
The above actions will have a long-term positive impact on the Company's
ability to compete both with respect to its product range as well as an increasing
presence in expanding markets, both within India and internationally.
CMT REPORT [Corruption, Money laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the
subject of any formal or informal allegations, prosecutions or other official
proceeding for making any prohibited payments or other improper payments to
government officials for engaging in prohibited transactions or with designated
parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered
against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal
Records
No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.
8] Affiliation
with Government :
No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.
9] Compensation
Package :
Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on the subject.
CORPORATE
GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN
EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.45.30 |
|
UK
Pound |
1 |
Rs.78.45 |
|
Euro |
1 |
Rs.54.88 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
52 |
This score
serves as a reference to assess SC’s credit risk and to set the amount of
credit to be extended. It is calculated from a composite of weighted scores
obtained from each of the major sections of this report. The assessed factors
and their relative weights (as indicated through %) are as follows:
Financial condition (40%) Ownership background (20%) Payment record (10%)
Credit history (10%) Market trend (10%) Operational
size (10%)
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely
sound financial base with the strongest capability for timely payment of
interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate
working capital. No caution needed for credit transaction. It has above
average (strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not
cause fatal effect. Satisfactory capability for payment of interest and
principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are
apparent. Repayment of interest and principal sums in default or expected to
be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit not recommended |