MIRA
INFORM REPORT
|
Report Date : |
30.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
CROMPTON GREAVES LIMITED |
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Registered
Office : |
6th
Floor, C.G. House, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
28.04.1937 |
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Com. Reg. No.: |
11-002641 |
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Capital
Investment / Paid-up Capital : |
Rs.1283.000
Millions |
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|
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CIN No.: [Company Identification No.] |
L99999MH1937PLC002641 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMCO5628A |
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PAN No.: [Permanent Account No.] |
AAACC3840K |
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Legal Form : |
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. |
|
|
|
|
No. of Employees
: |
6058
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (81) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 92163000 |
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|
|
|
Status : |
Excellent |
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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. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered
Office : |
6th
Floor, C.G. House, |
|
Tel. No.: |
91-22-24237777 |
|
Fax No.: |
91-22-24237733 |
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E-Mail : |
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Website : |
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Plant
Locations : |
Power Systems
Kanjur, Bhandup,
Mumbai – 400 042, Tel. No. 91-22-25782451 Fax No.
91-22-25783271/ 25783216 E-Mail. : vmasson@tone.cgl.co.in A/3 MIDC Area,
Ambad, Nashik – 422 010, Tel. No.
91-253-2382271/ 2382275 Fax No.
91-253-2381247 E-Mail. : contact@cglmail.com D-2 MIDC, Waluj, Tel. No.
91-240-2554662 /2554371/ 2554372/ 2554559 Fax No.
91-240-2554697 E-Mail. : cglsg@bom4.vsnl.net.in Tel. No.
91-20-27474925 Fax No.
91-20-27474972 E-Mail. : cgt2@mantraonline.com T1+T2 MPAKVN
Industrial Area, Malanpur (District Bhind) - 477 716, Tel. No.
91-7539-283502/ 3507/ 3470 Fax No.
91-7539-283585 E-Mail. : cgt2@mantraonline.com Plot No.29-32 New
Industrial Area No.1, Mandideep – 462 046, Tel. No.
91-7480-233306 Fax No.
91-7480-233149 E-Mail. cglt-bpl@sancharnet.in Plot No. 65,
Phase 1, SIPCOT Industrial Complex, Hosur - 635 126, Telefax :
91-4344-2579633 Fax No. : 91-4344-2579622 E-Mail. : cgpolycrete@satyam.net.in Industrial Systems
Kanjur, Bhandup,
Mumbai – 400 042, Tel. No.
91-22-2578 2451 Fax No.
91-22-2578 3845 E-Mail. : imd@cgl.co.in A/6-2, MIDC
Industrial Area, Ahmednagar – 414 111, Tel. No.
91-241-2777372 Fax No.
91-241-2777508 E-Mail. : sc.gupta@mail.cgl.co.in B-110 MIDC
Industrial Area, Ahmednagar – 414 111, Tel. No.
91-241-2778521 Fax No.
91-241-2777491 E-Mail. : gupta.r.k@mail.cgl.co.in Plot No. 4, Gate
No. 627/2, Village Kuruli, Near Chakan, Pune - 410 501, Tel. No.
91-2135-254641/2 E-Mail. feeder@cgl.co.in D-5 Industrial
Area, MPAKVN, Mandideep – 462 046, Tel. No.
91-7480-233116 / 233118 Fax No.
91-7480-233119 E-Mail. : ak.raina@mail.cgl.co.in 11-B, Industrial
Area 1, Pithampur – 454 775, District Dhar, Tel. No.
91-7292-253194/ 253258 Fax No.
91-7292-253211 E-Mail. : cglsrub@sancharnet.in C 71-72, MIDC
Industrial Area, Satpur, Nashik – 422 007, Tel. No.
91-253-2351067/ 69 Fax No.
91-253-2351492 E-Mail. : vrkumar@satpur2.cgl.co.in D-2-21, 22, 23,
Tivim Industrial Estate, Karaswada, Bardez, Goa - 403 526, Tel. No. 91-832-2257639/ 409 Fax No. 91-832-2257207 E-Mail. : sagar.r.k.@mail.cgl.co.in 196-198, Kundaim
Industrial Estate, Kundaim, Ponda, Goa - 403 110, Tel. No.
91-834-2395510 Fax No.
91-834-2395377 E-Mail.: cglfhpg@goatelecom.com L. B. Shastri
Marg, Bhandup, Mumbai - 400 078, Tel. No. :
91-22-25783865/ 3581/ 83 Fax No. :
91-22-25782877 Tel. No. :
91-22-24933913/ 916 Fax No.:
91-22-24951411 Consumer Products Kanjur, Bhandup,
Mumbai – 400 042, Tel. No.
91-22-25782451 Fax No.
91-22-25786046 Tel. No.
91-22-24951983 / 24944376/ 24977652 Fax No.
91-22-24604707 / 4708 / 24973046 E-Mail. : vrm@cgl.co.in Kural Village,
Padra Taluka, Tel. No. :
91-2662-242278 Fax No. :
91-2662-242326 E-Mail. : kvs@mail.cgl.co.in 325-326, Kundaim
Industrial Estate, Ponda, Goa - 403 110, Tel. No. :
91-832-2395304 Fax No. :
91-832-2395305 A-28, MIDC,
Ahmednagar - 414 111, Tel. No.
91-241-2777155 E-Mail. uhm@cgl.co.in 214-A, Kundaim
Industrial Estate, Kundaim, Goa - 403 110, Tel. No. 91-832-2395246/
206/ 304 Fax No.
91-832-2395305 E-Mail. rsk@mail.cgl.co.in Plot No. 1, IDC
Industrial Estate, Bethora, Ponda, Goa 403 409, Tel. No.
91-832-2330005/ 2330742 Fax No.
91-832-2313155 E-Mail. rsk@mail.cgl.co.in Village and
Import Export Executive Channo, District Sangrur - 148 026, Digital Group
10-A Jigani
Industrial Estate, Jigani, Anekal, E-Mail. cgl.rcd@cromption.sril.in 11A and 11C
Industrial Area, Pithampur – 454 775, District Dhar, Tel. No.
91-7292-253035/ 253071 Fax No.
91-7292-253213 E-Mail. hs_sekhon@yahoo.co.in International
Division
Jagruti, 2nd
Floor, Kanjur Marg (East), Mumbai - 400 042, Tel. No.
91-22-25782451-7/ 25776524/ 6649/ 25776723/ 25784211-19/ 67558000 Fax No.
91-22-25774066 E-Mail. ashley@cgl.co.in Domestic
Appliances Division
27, Tel. No.
91-11-27516993/ 23632349 Fax No.
91-11-27514899 Engineering
Projects Division
Tel No.
91-44-25341941 Fax No.
91-44-25341048 E-Mail. cglepd@vsnl.com 50, Tel. No.
91-33-22828709/ 22820814/ 3716 Fax No.
91-33-22823715 Lighting
Division
Tel. No.
91-22-24604701 |
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Regional Sales
Office : |
Northern Region Located at: v Jaipur v Jalandhar v
v
Eastern Region Located at: v
Kolkata v
v
Western Region Located at: v Mumbai v
Ahmedabad v
v
v
Pune v
v
Southern Region Located At: v Chennai v
v Secunderabad v
v
Satellite Office Located at: v
v
v
Ernakulam v
Chennai v
v
v
Mandapam |
DIRECTORS
As on 31.03.2011
|
Name : |
Mr. Gautam Thapar
|
|
Designation : |
Chairman |
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|
Name : |
Mr. S.M. Trehan |
|
Designation : |
Vice Chairman (Managing
Director upto 1st June, 2011)
|
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|
Name : |
Mr. L. Demortier |
|
Designation : |
Managing Director
|
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|
Name : |
Mr. S. Bayman |
|
Designation : |
Director |
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|
Name : |
Mr. Omkar Goswami
|
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Designation : |
Director |
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|
Name : |
Mr. S. Labroo |
|
Designation : |
Director |
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|
Name : |
Mr. S. Prabhu |
|
Designation : |
Director |
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Name : |
Mr. M. Pudumjee |
|
Designation : |
Director |
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|
Name : |
Mr. S.P. Talwar |
|
Designation : |
Director |
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|
Name : |
Mr. V. Von Massow |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. M. Acharya |
|
Designation : |
Chief Financial
Officer |
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|
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|
Name : |
Mr. W. Henriques |
|
Designation : |
Company Secretary |
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|
Name : |
Mr. L. Demortier |
|
Designation : |
Chief Executive
Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 18.05.2012
|
Category of Shareholder |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
255,945,608 |
40.00 |
|
|
255,945,608 |
40.00 |
|
|
|
|
|
|
11,505,462 |
1.80 |
|
|
11,505,462 |
1.80 |
|
Total shareholding of Promoter and Promoter Group (A) |
267,451,070 |
41.79 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
83,855,771 |
13.10 |
|
|
1,514,139 |
0.24 |
|
|
482 |
- |
|
|
47,687,797 |
7.45 |
|
|
119,932,062 |
18.74 |
|
|
252,990,251 |
39.53 |
|
|
|
|
|
|
51,101,232 |
7.99 |
|
|
|
|
|
|
50,139,204 |
7.84 |
|
|
8,715,396 |
1.36 |
|
|
9,522,574 |
1.49 |
|
|
2,575,487 |
0.40 |
|
|
102,559 |
0.02 |
|
|
6,842,003 |
1.07 |
|
|
2,525 |
- |
|
|
119,478,406 |
18.67 |
|
Total Public shareholding (B) |
372,468,657 |
58.21 |
|
Total (A)+(B) |
639,919,727 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
|
|
- |
- |
|
|
1,571,809 |
- |
|
|
1,571,809 |
- |
|
Total (A)+(B)+(C) |
641,491,536 |
- |
(1) Indian
Bodies Corporate
Individual shareholders holding nominal share
capital up to Rs.0.100 million 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 : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
#Licensed Capacity |
*Installed Capacity |
@Actual Production |
|
|
|
|
|
|
|
Transformers, Reactors and
Accessories thereof |
MVA Nos. |
49304 38500 |
39700 61000 |
35810 24879 |
|
Switchgear, Control Equipment and Accessories thereof |
Nos. |
440600 |
514540 |
367695 |
|
Energy Meters |
Nos. |
1000000 |
100000 |
367301 |
|
Traction Electronic, Industrial Drives and SCADA |
Nos. |
3334 |
3334 |
329 |
|
Electric Motors and Alternators
and Drives Panels |
HP Nos. |
10520000 2089500 |
6380000 597862 |
5418088 485395 |
|
Power driven Pumps |
Nos. |
460000 |
140000 |
125405 |
|
Electrical Steel Stamping and
Laminates |
MT |
22000 |
22000 |
17080 |
|
Electric Fans, Ventilation and
Pollution Control Systems |
Nos. |
5980000 |
6052900 |
4261893 |
|
Electric Lamps |
Nos. |
114988000 |
115228000 |
104424858 |
|
Other Items |
Nos. |
1050 |
1050 |
37 |
Notes:
# Under the liberalised Industrial Policy of Government of India,
the Company obtained the capacities approved by way of acknowledgements against
the IEMs submitted by it.
* Installed Capacities are as certified by the Managing
Director.
@ The production figures are as per returns submitted to the
Department of Industrial Development.
GENERAL INFORMATION
|
Customers : |
v
v
v Siemens Limited v Power Grid Corporation India Limited v
State Electricity Board, Mumbai, v Lohia Starlinger Limited v Kirloskar Bros. Limited v Larsen and Toubro Limited v Whirlpool India Limited v
Sulzer Pumps ( v Boving Fouress Limited v Indian Railways v Municipal Corporation v Jindal Steel v Tata Companies v Bharat Heavy Electricals Limited v Alstom Power v
Mather and Platt ( v Life Insurance Corporation v Bharat Sanchar Nigam Limited v BSES Limited |
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No. of Employees : |
6058
(Approximately) |
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|
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|
Bankers : |
v
Union Bank of v IDBI Bank Limited v
State Bank of v ICICI Bank Limited v Corporation Bank v
The Royal Bank of v Canara Bank v Standard Chartered Bank v
Bank of v Credit Agricole CIB v Yes Bank Limited |
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Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sharp and Tannan Chartered
Accountants |
|
|
|
|
Solicitors : |
Crawford Bayley
and Company |
|
|
|
|
Memberships : |
Confederation of Indian
Industry |
|
|
|
|
Subsidiaries : |
v CG Capital and Investments Limited v CG Energy Management Limited v CG PPI Adhesive Products Limited v CG-ZIV Power Automation Solutions Limited v CG International B.V. v CG Power Systems USA Inc. v CG Sales Networks Americas Inc. v CG Sales Networks France SA v
CG Power Systems v CG Power Systems Canada Inc. v
CG Holdings v
CG Electric Systems v CG Automation Systems UK Limited v
PT. CG Power Systems |
|
|
|
|
Associates : |
v
CG
Lucy Switchgear Limited v
International
Components India Limited (Up to 4th October, 2010) v
Brook
Crompton Greaves Limited (Up to 26th August 2009) v
Avantha
Power and Infrastructure Limited |
|
|
|
|
Other Related Parties in which a director
is interested : |
v Ballarpur Industries Limited v Solaris Chem Tech Industries Limited v BILT Graphic Paper Products Limited v Asia Aviation Limited v Avantha Holdings Limited v Salient Business Solutions Limited v Avantha Technologies Limited v Avantha Realty Limited (formerly Janpath Investments and Holdings Limited) v Korba West Power Company Limited v Corella Investments Limited v Lustre International Limited v Solaris Holding Limited v KCT Chemicals and Electricals Limited v
v International Components India Limited v Malanpur Captive Power Limited |
CAPITAL STRUCTURE
As on 19.07.2011
Authorised Capital: Rs.3610.000 millions
Issued, Subscribed and Paid-up Capital: Rs.1282.983
millions
As on 31.03.2011
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
1380000000 |
Equity Shares |
Rs.2/- each |
Rs.2760.000 Millions |
|
|
|
|
|
Issued Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
641533836 |
Equity Shares |
Rs.2/- each |
Rs.1283.000
Millions |
|
|
|
|
|
Subscribed and Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
641491536 |
Equity Shares |
Rs.2/- each |
Rs.1283.000
Millions |
|
|
|
|
|
Notes:
Of the above shares:
v 1936000 issued pursuant to a contract without payment being received in cash.
v 81000000 issued as fully paid-up bonus shares by way of capitalization of reserves.
v 379658256 issued as fully paid-up bonus shares by way of capitalization of securities premium account including nil shares issued during the year.
v 7382830 issued as fully paid-up pursuant to scheme of amalgamation and
v 33068750 issued as international offering of Global Depository Receipt (GDR’s) (In US Dollars.)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1283.000 |
1283.000 |
733.200 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
21757.800 |
16364.200 |
11685.700 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
23040.800 |
17647.200 |
12418.900 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
82.300 |
138.200 |
345.200 |
|
|
2] Unsecured Loans |
51.700 |
129.600 |
191.500 |
|
|
TOTAL BORROWING |
134.000 |
267.800 |
536.700 |
|
|
DEFERRED TAX LIABILITIES |
735.200 |
834.200 |
639.200 |
|
|
|
|
|
|
|
|
TOTAL |
23910.000 |
18749.200 |
13594.800 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
8753.000 |
5338.100 |
5107.100 |
|
|
Capital work-in-progress |
476.900 |
330.300 |
129.500 |
|
|
|
|
|
|
|
|
INVESTMENT |
7816.400 |
6880.600 |
2655.200 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4057.200
|
3035.300
|
2813.200
|
|
|
Sundry Debtors |
15101.800
|
12127.900
|
10122.600
|
|
|
Cash & Bank Balances |
1508.900
|
5485.000
|
4725.100
|
|
|
Other Current Assets |
8.600
|
10.000
|
0.000
|
|
|
Loans & Advances |
3173.400
|
1543.700
|
1325.400
|
|
Total
Current Assets |
23849.900
|
22201.900 |
18986.300 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
10090.400
|
9040.600
|
7927.600 |
|
|
Other Current Liabilities |
5203.000
|
5425.400
|
3949.100
|
|
|
Provisions |
1692.800
|
1535.700
|
1406.600
|
|
Total
Current Liabilities |
16986.200
|
16001.700
|
13283.300
|
|
|
Net Current Assets |
6863.700
|
6200.200
|
5703.000
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
23910.000 |
18749.200 |
13594.800 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
59514.700 |
52839.900 |
46106.600 |
|
|
|
Other Income |
960.800 |
844.000 |
499.900 |
|
|
|
TOTAL (A) |
60475.500 |
53683.900 |
46606.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing construction and operating expenses |
41733.100 |
36229.600 |
31964.200 |
|
|
|
Staff Expenses |
3101.700 |
2557.900 |
2291.400 |
|
|
|
Selling and administration expenses |
5354.800 |
5474.800 |
5470.600 |
|
|
|
Extra ordinary Item |
0.000 |
(403.800) |
0.000 |
|
|
|
TOTAL (B) |
50189.600 |
43858.500 |
39726.200 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10285.900 |
9825.400 |
6880.300 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
206.900 |
200.000 |
285.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
10079.000 |
9625.400 |
6594.800 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
808.900 |
519.000 |
452.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
9270.100 |
9106.400 |
6142.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2326.800 |
2933.000 |
2171.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
6943.300 |
6173.400 |
3970.900 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
12724.100 |
8114.200 |
5398.100 |
|
|
|
|
|
|
|
|
|
Add |
Amount
transferred on amalgamation of a subsidiary |
78.400 |
-- |
-- |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
700.000 |
620.000 |
397.100 |
|
|
|
1st Interim Dividend |
513.200 |
293.300 |
256.600 |
|
|
|
2nd Interim Dividend |
513.200 |
513.200 |
293.200 |
|
|
|
3rd Interim Dividend |
384.900 |
0.000 |
183.300 |
|
|
|
Corporate Dividend Tax |
232.900 |
137.000 |
124.600 |
|
|
BALANCE CARRIED
TO THE B/S |
17401.600 |
12724.100 |
8114.200 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods (on FOB Basis) including deemed exports Rs.2360.100
millions |
10555.700 |
12269.700 |
11576.500 |
|
|
|
Service Income |
149.100 |
56.000 |
12.600 |
|
|
|
Other Earnings |
0.000 |
0.000 |
2.000 |
|
|
TOTAL EARNINGS |
10704.800 |
12325.700 |
11591.100 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
4525.100 |
4280.200 |
3798.900 |
|
|
|
Trading Goods |
703.900 |
425.200 |
437.300 |
|
|
|
Spares Parts |
54.500 |
16.600 |
31.600 |
|
|
|
Capital Goods |
83.900 |
38.400 |
135.600 |
|
|
TOTAL IMPORTS |
5367.400 |
4760.400 |
4403.400 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.82 |
8.99 |
6.19 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2011 |
30.09.2011 |
31.12.2011 |
31.03.2012 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Net Sales |
14688.300 |
14514.700 |
16244.600 |
19406.200 |
|
Total Expenditure |
12821.700 |
12900.700 |
14491.700 |
17432.900 |
|
PBIDT (Excl OI) |
1866.600 |
1614.000 |
1752.900 |
1973.300 |
|
Other Income |
156.600 |
168.200 |
158.700 |
44.200 |
|
Operating Profit |
2023.200 |
1782.200 |
1911.600 |
2017.500 |
|
Interest |
14.300 |
0.500 |
0.000 |
45.600 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
2008.900 |
1781.700 |
1911.600 |
1971.900 |
|
Depreciation |
285.800 |
267.100 |
169.000 |
185.200 |
|
Profit Before Tax |
1723.100 |
1514.600 |
1742.600 |
1786.700 |
|
Tax |
432.900 |
391.400 |
476.100 |
418.000 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
1290.200 |
1123.200 |
1266.500 |
1368.700 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
1290.200 |
1123.200 |
1266.500 |
1368.700 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
11.48
|
11.50 |
8.52 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
15.58
|
16.47 |
13.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
28.43
|
31.60 |
23.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40
|
0.49 |
0.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.74
|
0.92 |
1.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.40
|
1.39 |
1.38 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of
Establishment |
Yes |
|
2) Locality of
the firm |
Yes |
|
3) Constitutions of
the firm |
Yes |
|
4) Premises
details |
No |
|
5) Type of
Business |
Yes |
|
6) Line of
Business |
Yes |
|
7) Promoter’s
background |
No |
|
8) No. of
employees |
Yes |
|
9) Name of person
contacted |
No |
|
10) Designation
of contact person |
No |
|
11) Turnover of
firm for last three years |
Yes |
|
12) Profitability
for last three years |
Yes |
|
13) Reasons for
variation <> 20% |
-- |
|
14) Estimation
for coming financial year |
No |
|
15) Capital in
the business |
Yes |
|
16) Details of sister
concerns |
Yes |
|
17) Major
suppliers |
No |
|
18) Major
customers |
Yes |
|
19) Payments
terms |
No |
|
20) Export /
Import details (if applicable) |
No |
|
21) Market
information |
-- |
|
22) Litigations
that the firm / promoter involved in |
-- |
|
23) Banking
Details |
Yes |
|
24) Banking
facility details |
Yes |
|
25) Conduct of
the banking account |
-- |
|
26) Buyer visit
details |
-- |
|
27) Financials,
if provided |
Yes |
|
28) Incorporation
details, if applicable |
Yes |
|
29) Last accounts
filed at ROC |
Yes |
|
30) Major
Shareholders, if available |
No |
HISTORY
Subject is a part of the Avantha Group was established in
the year 1937 as a private sector under the name of Crompton Parkinson Works
Limited, has become synonymous with electricity in
THE YEAR IN
RETROSPECT
The consolidated net revenue of the Company during 2010-2011 grew by
9.5% at Rs.100050.000 millions , as compared with Rs.91410.000 millions last year. The Company has achieved a
stand-alone net turnover of Rs.59510.000 millions , during the year, as
compared with Rs.52840.000 millions during
the previous year, a rise of 12.6%. Whilst order input has grown at a rate of
11.1% at a consolidated level during the year; growth in revenue has been, and
is expected to be subdued on account of delayed off-takes by customers in the
Power and Industrial segments. Stand-alone Power Systems grew by 1.8%, whilst
consolidated Power Systems grew by 16.9% in Euro terms. A healthy growth in the
slim transformer, gas insulated switchgear and project business in the Power
Systems segment were the key growth drivers for this segment. The Industrial
Systems segment grew quite significantly, by 18.9% during the year, largely due
to revival in demand from steel, cement, fertilizers, oil & gas and other
end user industries. The Company has successfully integrated the businesses of
traction electronics, SCADA and drives which it acquired from Nelco last year;
and is poised to increase its offering in this segment as a part of its larger
vision to transform itself from a Product company to a Solutions Provider
status. It has established a new plant dedicated to the manufacture of drives
and automation, spread over 30,000 sq feet, equipped with modern equipment. The
plant adds a new frontier to the technological capabilities of the Company as a
Solutions Provider. The Consumer Products segment continued to outperform the
market, with a growth of 25.4% fuelled by higher disposable incomes and the
continuing growth in the construction sector. Consolidated profit before tax increased to Rs.12290.000
millions , as compared with Rs.11890.000 millions in the previous year, an increase of 3.4%
over last year. Stand-alone profit before
tax increased from Rs.870 millions to Rs.9270.000 millions , an increase
of 6.5% over last year. Stiff competition from Korean and Chinese players
created continuing margin pressures, which was further aggravated by rising prices
of key materials. The Company has succeeded in sustaining operating margins
largely on account of productivity enhancements, upgradation of production
facilities, R and D-led savings in raw material consumption, process technology
improvements, global sourcing initiatives, better working capital management
and a debt free financial structure. Consolidated profit after tax (before extraordinary
items) increased to Rs.9270.000 millions as compared with Rs.8250.000 millions
in the previous year, an increase of 12.4 %
Over last year, consolidated profit after tax increased to
Rs.8890.000 millions compared with Rs.8600.000 millions in the previous year,
an increase of 3.3% over last year. The Company recorded a stand-alone profit
after tax of Rs.6940.000 millions, an increase of 20.3% as compared with last
year.
AMALGAMATIONS
The Board of
Directors at their meeting held on 28 January 2011, approved the amalgamation
of CG Capital and Investments Limited (CG Capital), the Company’s wholly-owned
subsidiary with the Company. After divesting most of its portfolio of
investments, CG Capital was practically dormant; and administratively, it was
felt more convenient to manage the residual investments of CG Capital through
the Company directly, instead of maintaining a separate entity. Pursuant to the Scheme of Amalgamation, filed
by CG Capital with the High Court of Judicature at
On 6 July 2010, the Company completed the amalgamation of
its wholly-owned subsidiary, Brook Crompton Greaves Limited with it.
THE MAIN GLOBAL
ACQUISITIONS HAVE BEEN:
● POWER SYSTEMS:
● INDUSTRIAL
SYSTEMS:
● CONSUMER PRODUCTS:
STATEMENT OF STANDALONE
AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31ST MARCH, 2012
(Rs. in Millions)
|
Particulars |
Quarter Ended |
Year Ended |
|
|
31.03.2012 Audited |
31.12.2011 Unaudited |
31.03.2012 Audited |
|
|
1. Income from
operations |
|
|
|
|
Net Sales / Income from operations (net of excise duty) |
19406.200 |
16244.600 |
64853.800 |
|
Net Sales / Income from operations |
19406.200 |
16244.600 |
64853.800 |
|
|
|
|
|
|
2. Expenses |
|
|
|
|
(a) Cost of materials consumed |
9966.600 |
8708.000 |
34676.200 |
|
(b) Purchases of stock-in-trade |
4110.500 |
3145.500 |
12654.700 |
|
(c) Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
410.500 |
11.500 |
(73.900) |
|
(d) Employee benefits |
916.400 |
909.400 |
3635.900 |
|
(e) Depreciation and amortisation |
185.200 |
169.000 |
907.100 |
|
(f) Other expenses |
2028.900 |
1717.300 |
6754.100 |
|
Total Expenses |
17618.100 |
14660.700 |
58554.100 |
|
3. Profit from Operations before other income and
finance costs |
1788.100 |
1583.900 |
6299.700 |
|
4. Other Income |
44.200 |
135.100 |
504.100 |
|
5. Profit before finance costs |
1832.300 |
1719.000 |
6803.800 |
|
6. Finance
costs |
45.600 |
(23.600) |
36.800 |
|
7. Profit from ordinary activities after finance
costs before tax |
1786.700 |
1742.600 |
6767.000 |
|
8. Tax expenses
|
418.000 |
476.100 |
1718.400 |
|
9. Net profit from ordinary activities after tax |
1368.700 |
1266.500 |
5048.600 |
|
10. Paid-up equity
share capital (Face Value of
equity share of Rs.2/- each ) |
1283.000 |
1283.000 |
1283.000 |
|
11. Reserves
excluding Revaluation Reserves as per balance sheet |
-- |
-- |
25585.600 |
|
12. Earnings Per Share (of Rs.2 each) Basic and diluted (not
annualized) |
2.13 |
1.98 |
7.87 |
|
A. PARTICULARS OF SHAREHOLDING |
|
|
|
|
1.
Public shareholding * |
|
|
|
|
- Number of shares |
374040466 |
374040833 |
374040466 |
|
- Percentage of shareholding |
58.31 |
58.31 |
58.31 |
|
2. Promoters and
promoter group Shareholdings |
|
|
|
|
a) Pledged / Encumbered |
|
|
|
|
- Number of shares |
13855300 |
13855300 |
13855300 |
|
- Percentage of shares (as a percentage of the total shareholding of promoter and
promoter group) |
5.18 |
5.18 |
5.18 |
|
- Percentage of shares (as a percentage of the total share capital of the
company) |
2.16 |
2.16 |
2.16 |
|
b) Non-Encumbered |
|
|
|
|
- Number of shares |
253595770 |
253595403 |
253595770 |
|
- Percentage of shares (as a percentage of the total shareholding of promoter and
promoter group) |
94.82 |
94.82 |
94.82 |
|
- Percentage of shares (as a percentage of the total share capital of the
company) |
39.53 |
39.53 |
39.53 |
* Public
Shareholding includes shares held by custodians of Global Depository Receipts
issued.
|
Particulars |
Quarter Ended |
|
B. INVESTOR
COMPLAINTS |
31.03.2012 |
|
Pending at the beginning of the quarter |
-- |
|
Received during the quarter |
-- |
|
Disposed off during the quarter |
-- |
|
Remaining unresolved at the end of the quarter |
-- |
STANDALONE SEGMENT-WISE
REVENUE, RESULS AND CAPITAL EMPLOYED FOR THE YEAR ENDED 31ST MARCH,
2012
(Rs. in Millions)
|
Particulars |
Quarter Ended |
Year Ended |
|
|
31.03.2012 Audited |
31.12.2011 Unaudited |
31.03.2012 Audited |
|
|
1.
Segment Revenue (net of excise duty): |
|
|
|
|
(a) Power Systems |
9458.300 |
7542.300 |
28674.700 |
|
(b) Consumer Products |
6065.300 |
5032.800 |
21336.200 |
|
(c) Industrial Systems |
3931.800 |
3886.100 |
15200.800 |
|
(d) Others |
20.900 |
19.300 |
98.500 |
|
TOTAL |
19476.300 |
16480.500 |
65310.200 |
|
Less: Inter segment Revenue |
70.100 |
235.900 |
456.400 |
|
Net
Sales / Income From Operations |
19406.200 |
16244.600 |
64853.800 |
|
|
|
|
|
|
2.
Segment Result: [Profit / (Loss) before tax and finance costs from
each segment] |
|
|
|
|
(a) Power Systems |
906.900 |
810.600 |
3106.000 |
|
(b) Consumer Products |
739.800 |
592.600 |
2628.800 |
|
(c)
Industrial Systems |
520.700 |
567.000 |
2254.000 |
|
(d) Others |
4.100 |
2.000 |
12.500 |
|
TOTAL |
2171.500 |
1972.200 |
8001.300 |
|
Less: (i) Finance costs |
45.600 |
(23.600) |
36.800 |
|
(ii) Other un-allocable expenditure net of un-allocable income |
339.200 |
253.200 |
1197.500 |
|
Profit
from Ordinary Activities before tax |
1786.700 |
1742.600 |
6767.000 |
|
|
|
|
|
|
3.
Capital Employed : (Segment
Assets – Segment Liabilities) |
|
|
|
|
(a) Power Systems |
8530.400 |
8470.800 |
8530.400 |
|
(b) Consumer Products |
920.200 |
1108.600 |
920.200 |
|
(c) Industrial Systems |
3999.200 |
3450.400 |
3999.200 |
|
(d) Others |
14065.800 |
14041.000 |
14065.800 |
|
TOTAL |
27515.600 |
27070.800 |
27515.600 |
STANDALONE
STATEMENT OF ASSETS AND LIABILITIES
(Rs. in Millions)
|
Particulars |
As at 31.03.2012 Audited |
|
A. EQUITY AND LIABILITIES
|
|
|
|
|
|
1. Shareholders’
Funds |
|
|
(a) Share Capital |
1283.000 |
|
(b) Reserves & Surplus |
25725.800 |
|
Sub Total – Shareholder’s funds |
27008.800 |
|
|
|
|
2. Non-current
liabilities |
|
|
(a) Long-term borrowings |
20.600 |
|
(b) Deferred tax liabilities (net) |
432.300 |
|
(c) Other long-term liabilities |
81.500 |
|
(d) Long-term provisions |
119.700 |
|
Sub Total – Non-current liabilities |
654.100 |
|
|
|
|
3. Current liabilities |
|
|
(a) Short-term borrowings |
2.000 |
|
(b) Trade payables |
11710.300 |
|
(c) Other current liabilities |
4946.500 |
|
(d) Short-term provisions |
1383.200 |
|
Sub Total – Current liabilities |
18042.000 |
|
|
|
|
TOTAL – EQUITY AND LIABILITIES |
45704.900 |
|
|
|
|
B. ASSETS |
|
|
|
|
|
1. Non-current
assets: |
|
|
(a) Fixed Assets |
6754.800 |
|
(b) Non current investments |
5515.900 |
|
(c) Long-term loans and advances |
241.200 |
|
Sub Total – Non-current assets |
12511.900 |
|
|
|
|
2. Current
assets: |
|
|
(a) Current investments |
5009.100 |
|
(b) Inventories |
4496.000 |
|
(c) Trade receivables |
17356.200 |
|
(d) Cash and cash equivalents |
3211.000 |
|
(e) Short-term loans and advances |
2631.900 |
|
(f) Other current assets |
488.800 |
|
Sub Total – Current assets |
33193.000 |
|
|
|
|
TOTAL
- ASSETS |
45704.900 |
Notes on
standalone financial results:
1. The above audited standalone financial results have been reviewed by
the Audit Committee and approved by the Board of Directors at its meeting held
on 25th May, 2012.
2. The Company has during the year, declared interim dividends of
Rs.1.40 per share on 641491536 Equity Shares of Rs.2 each for the financial
year 2011-12.
3. Figures of the previous periods/ year have been regrouped and
reclassified, wherever necessary.
CONTINGENT LIABILITY:
|
Particular |
31.03.2011 (Rs. In
Millions) |
31.03.2010 (Rs. In
Millions) |
|
|
|
|
|
Claims against the company not acknowledged
as debts |
13.500 |
122.000 |
|
Sales tax liability that may arise in
respect of matters in appeal |
54.500 |
43.500 |
|
Excise duty / service tax liability that may
arise in respect of matters in appeal preferred by the company |
70.800 |
60.800 |
|
Excise duty / service tax liability that may
arise in respect of matters preferred by the department |
33.200 |
15.600 |
|
Income tax liability that may arise in respect
of matters in appeal preferred b the department |
84.700 |
43.100 |
|
Guarantees / securities given on behalf of
subsidiary companies. |
1237.000 |
2181.100 |
|
Bill discounted |
1008.700 |
833.800 |
FIXED ASSETS:
v
v Buildings
v Plant and Equipments
v Railway Sidings
v Furniture and Fixtures
v Vehicles
v
v Computer Software
WEBSITE DETAILS:
INTRODUCTION
Subject is part of
the US$ 3 bn Avantha Group, a conglomerate with an impressive global footprint.
Since its inception, subject has been synonymous with electricity. In 1875, a
Crompton 'dynamo' powered the world's very first electricity-lit house in
Colchester, Essex, U.K. CG's India operations were established in 1937, and
since then the company has retained its leadership position in the management
and application of electrical energy.
Today, subject is
With several international acquisitions, Crompton Greaves is fast emerging as a
first choice global supplier for high quality electrical equipment. 
HISTORY
The history of
Crompton Greaves goes back to 1878 when Col. R.E.B. Crompton founded R.E.B.
Crompton and Company. The company merged with F.A Parkinson in the year 1927 to
form Crompton Parkinson Limited, (CPL). Greaves Cotton and Co (GCC) was
appointed as their concessionaire in
Products and Services Offered
The company is
organized into three business groups viz. Power Systems, Industrial Systems,
Consumer Products. Nearly, two-thirds of it's turnover accrues from products
lines in which it enjoys a leadership position. Presently, the company is
offering wide range of products such as power and industrial transformers, HT
circuit breakers, LT and HT motors, DC motors, traction motors, alternators/
generators, railway signaling equipments, lighting products, fans, pumps and
public switching, transmission and access products. In addition to offering
broad range of products, the company undertakes turnkey projects from concept
to commissioning. Apart from this, CG exports it's products to more than 60
countries worldwide, which includes the emerging South-East Asian and Latin
American markets.
Thus, the company addresses all the segments of the power industry from complex
industrial solutions to basic household requirements. The fans and lighting
businesses acquired "Superbrand" status in January 2004. It is a
unique recognition amongst the country's 134 selected brands by
"Superbrands",
Acquisitions - Subject, now an Indian MNC
Pauwels Acquisition
Crompton Greaves has completed the acquisition of the Belgium-based Pauwels on
13th May 2005. The group has manufacturing facilities in
Apart from strengthening it's foothold in the Indian market, Crompton Greaves
acquisition of the Pauwels Group and it's transformer manufacturing facilities
in five countries is expected to provide a significant impetus to the company's
international presence.
The additional turnover of approximately Rs.13800.000 millions of Pauwels Group
for it's last financial year is expected to increase Crompton Greaves'
International business to around 50% of it's turnover, making the company a
force to reckon with, in the international market.
Ganz Acquisition
Crompton Greaves have also successfully acquired Hungarian based Ganz (GTV),
engaged in the manufacture of EHV Transformers, Switchgear, Gas Insulated
Switchgear (GIS), Rotating Machines and Contracting businesses and
Transverticum Kft (TV), engaged in the supporting areas of design, erection,
commissioning and commercial activities on 17.10.2006;TV being a subsidiary of
GTV.
Microsol Acquisition
The acquisition of Microsol Holdings Limited (MHL) and its associate companies
in May 2007 is yet another significant stride in CG's journey towards
positioning itself as a Global T and D Solutions Provider.
MHL, based in
Sonomatra Acquisition
Crompton Greaves concluded an arrangement for the acquisition of Societe
Nouvelle de Maintenance de Transformateurs (Sonomatra) of
Manufacturing, Marketing and Servicing
Network
CG's business
operations consist of 22 manufacturing divisions spread across in Gujarat,
Maharashtra, Goa, Madhya Pradesh and Karnataka, supported by well knitted
marketing and service network through 14 branches in various states under
overall management of four regional sales offices located in
Future Outlook
The quality of
households is enhanced when their money is invested into products such as fans
and lighting for basic comforts. Their lives are literally touched by delight.
Similarly, Crompton helps electricity boards and other utilities to reach
electricity to the last home and factory. Therefore, every individual in
All economic
indicators point towards the manufacturing sector being the future driver of
However, several measures that the company has already taken and it's plans for
the future, together with business impact of the Pauwels acquisition, will
equip the company to respond in adequate measure to this competitive pressure.
PRESS RELEASES:
CG INAUGURATES NEW
EHV SWITCHGEAR MANUFACTURING FACILITY IN
27th
June, 2012
CG (Crompton Greaves Limited) commenced operations of its new Extra High
Voltage (EHV) Switchgear manufacturing facility in Sapucaia do Sul in the state
of
The EHV switchgear manufacturing facility is the first CG manufacturing
facility in
The annual designed manufacturing capacity exceeds 500 HV breakers, 1000
lightning arresters and 300 instrument transformers. CG expects annual
revenue in excess of USD 50 Mn during the first years of operation. CG has
already received more than USD 6 million worth of orders from Utilities such as
CEMIG, CPFL, CEEE, RGE and Toshiba.
"
About CG:
CG, is a pioneering leader in the management and application of electrical
energy. CG operates globally, is present in 21 countries and employs more
than 15000 employee. CG provides electrical products, systems and
services for Utilities, Power Generation, Industrial and Consumers. The company
is organized into three business groups: Power, Industrial and
Consumer. Nearly, two-thirds of its turnover accrues from Product Lines
in which it enjoys a leadership position. CG is a
part of the US$ 4 Bn Avantha Group. The Avantha Group has an impressive
global footprint and comprises 8 successful, diverse entities.
CG ENTERS INTO
AGREEMENT WITH THE GOVERNMENT OF
18th
May. 2012
CG signed an MOU on 8th May with the Government of Manitoba to
explore ways of advancing innovative solutions for the electric transmission
industry, smart grid enhancements and other renewable energy
technologies.
Innovation Energy and Mines Minister Dave Chomiak stated:
“This MOU creates an opportunity for CG and the province to test,
demonstrate and further develop a variety of cutting-edge technologies in
“CG is very proud of this collaborative agreement signed with the
The green energy sector is one of the fastest growing sectors and CG is
positioning itself to become a global leader in green energy transmission and
energy distribution.
CG Q3 FY12 ORDERS
UP 66% AT RS.34010.000 MILLIONS VS Q3FY11
08th
February. 2012
CG announced 66% increase in Orders for the quarter ended December 31st,
2011 at Rs.34010.000 millions as compared to Rs.20520.000 millions in the same
period of last fiscal.
Highlights of
Q3FY12 vs Q3FY11
v
Consolidated order intake at Rs.34010.000 millions,
up 66 %
v
Consolidated Net sales at Rs.30280.000 millions up
26%
v
EBIDTA at Rs.1830.000 millions
v
Net Profit at Rs.770.000 millions
Highlights for 9 months ended December 31, 2011
v
Consolidated order intake at Rs.73680.000 millions,
up 16%
v
Consolidated Net sales at Rs.81710.000 millions up
15%
v
EBIDTA at Rs.5900.000 millions
v
Net Profit at Rs.2730.000 millions
Mumbai, January
31, 2012
Crompton Greaves (CG), announced 66% increase in Orders for the
quarter ended December 31st 2011 at Rs.34010.000 millions as
compared to Rs.20520.000 millions in the same period of last fiscal. .
Growth has been particularly strong in
Its Net Sales for the quarter ended December 31st 2011
at Rs.30280.000 millions which is a 26% growth as compared to Rs.23970.000
millions in the same period of last fiscal with overall growth seen at
26%.
The EBIDTA during the quarter stood at Rs.1830.000 millions as against
Rs.3400.000 millions in Q3 FY11. Net Profit for the quarter stood at Rs.770.000
millions as against Rs.2330.000 millions in Q3FY11.
Total order book at the end of December 2011 was recorded at
Rs.81830.000 millions.
During the quarter the revenues from Power business rose by 17.5%
to Rs.20690.000 millions. The Industrial business grew by 2% to
Rs.4750.000 millions whereas the consumer business posted a rise of 5% at
Rs.5030.000 millions as compared to the Q2 FY12.
For the nine-months ended December 31st 2011, Net Sales was
at Rs.81710.000 millions posting a rise of 15% as compared to Rs.70970.000
millions in December 31st 2010. During the same period, Net Profit
stood at Rs.2730.000 millions as against Rs.6370.000 millions in nine-month
period of last fiscal.
Commenting on the results, Mr. Laurent Demortier, CEO and Managing
Director, CG said: “In the midst of global uncertainties and tough
macroeconomic environment both domestically and abroad, the quarter gone by has
been very encouraging for CG. Across our three businesses, our growth is fueled
by the introduction of new energy efficient product and services. Our
efforts to gain foot hold in global markets are on track.”.
About Avantha
The US$ 4 bn Avantha Group is one
of
About CG:
CG, part of the US$ 4 bn
Avantha Group, is a pioneering leader in the management and application of electrical
energy. CG operates globally and is present in 21 countries. CG provides electrical product, system and services for Utilities,
Power Generation, Industrial and Consumers. The company is organized into three
business groups: Power, Industrial and Consumer. Nearly, two-thirds
of its turnover accrues from Product Lines in which it enjoys a leadership
position.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.56.30 |
|
|
1 |
Rs.88.06 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
10 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
81 |
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 EXPLANATIONS
|
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.