MIRA
INFORM REPORT
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Report Date : |
10.07.2014 |
IDENTIFICATION DETAILS
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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) : |
31.03.2013 |
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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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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 : |
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. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a well-established company having fine track record. There seems some continuous dip in the profits of the company.
However, financial position of the company is sound. Fundamentals are strong
and healthy. Directors are reported to be well experienced, respectable and
resourceful industrialists. Trade relations are reported as trust worthy. Business is active.
Payments are reported to be regular and as per commitments. The company can be considered good for 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year
before.A sharp fall in gold imports due to restrictions on overseas purchases
and muted import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles from
its Talegaon plant near Pune in the second half of 2014. GM was one of the few
global carmakers that was using its India plant only for the domestic market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
FITCH |
|
Rating |
Long term Rating AA |
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Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
1 July, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED
MANAGEMENT NON CO-OPERATIVE (91-22-24237777)
LOCATIONS
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Registered Office : |
6th
Floor, C.G. House, Dr. Annie Besant Road, Worli, Mumbai – 400030,
Maharashtra, India |
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Tel. No.: |
91-22-24237777 |
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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 – 400042, Maharashtra, India Tel. No. 91-22-25782451 Fax No. 91-22-25783271/ 25783216 E-Mail. : vmasson@tone.cgl.co.in A/3, MIDC Area,
Ambad, Nashik – 422010, Maharashtra, India Tel. No. 91-253-2382271/ 2382275 Fax No. 91-253-2381247 E-Mail. : contact@cglmail.com D-2, MIDC, Waluj,
Aurangabad – 431136, Maharashtra, India Tel. No. 91-240-2554662 /2554371/ 2554372/ 2554559 Fax No. 91-240-2554697 E-Mail. : cglsg@bom4.vsnl.net.in 209, Mumbai Pune
Road, Pimpri, Pune – 411018, Maharashtra, India Tel. No. 91-20-27474925 Fax No. 91-20-27474972 E-Mail. : cgt2@mantraonline.com T1+T2, MPAKVN Industrial
Area, Malanpur (District Bhind) - 477716, Madhya Pradesh, India 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 – 462046, Madhya Pradesh, India 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 - 635126, Tamilnadu, India Telefax : 91-4344-2579633 Fax No. : 91-4344-2579622 E-Mail. : cgpolycrete@satyam.net.in INDUSTRIAL SYSTEMS
Kanjur, Bhandup,
Mumbai – 400042, Maharashtra, India 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 – 414111, Maharashtra, India Tel. No. 91-241-2777372 Fax No. 91-241-2777508 E-Mail. : sc.gupta@mail.cgl.co.in Unit-2, B-110, MIDC
Industrial Area, Ahmednagar – 414111, Maharashtra, India 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 - 410501, Maharashtra, India Tel. No. 91-2135-254641/2 E-Mail. feeder@cgl.co.in D-5, Industrial
Area, MPAKVN, Mandideep – 462046, Madhya Pradesh, India 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 – 454775, District Dhar, Madhya Pradesh, India 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 - 403526, India 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 - 403110, India Tel. No. 91-834-2395510 Fax No. 91-834-2395377 E-Mail.: cglfhpg@goatelecom.com L. B. Shastri
Marg, Bhandup, Mumbai - 400078, Maharashtra, India Tel. No. : 91-22-25783865/ 3581/ 83 Fax No. : 91-22-25782877 Dr. E. Moses
Road, Worli, Mumbai – 400018, Maharashtra, India Tel. No. : 91-22-24933913/ 916 Fax No.: 91-22-24951411 CONSUMER
PRODUCTS Kanjur (East), Bhandup, Mumbai – 400042, Maharashtra,
India Tel. No. 91-22-25782451 Fax No. 91-22-25786046 Dr. E. Moses
Road, Worli, Mumbai – 400018, Maharashtra, India 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 - 403110, India Tel. No. : 91-832-2395304 Fax No. : 91-832-2395305 A-28, MIDC,
Ahmednagar - 414111, Maharashtra, India 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-403409, India 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 - 148026, Punjab, India DIGITAL GROUP
10-A Jigani Industrial
Estate, Jigani, Anekal, Bangalore Rural - 562106, Karnataka, India E-Mail. cgl.rcd@cromption.sril.in 11A and 11C
Industrial Area, Pithampur – 454775, District Dhar, Madhya Pradesh, India 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, Rani Jhansi Road, New Delhi - 110055, India Tel. No. 91-11-27516993/ 23632349 Fax No. 91-11-27514899 ENGINEERING PROJECTS DIVISION
Bombay Mutual Building, 4th Floor, 232, NSC Bose Road, PO Box No.100, Chennai - 600001, Tamilnadu, India Tel No. 91-44-25341941 Fax No. 91-44-25341048 E-Mail. cglepd@vsnl.com 50, Chowringhee
Road, Kolkata - 700071, West Bengal, India Tel. No. 91-33-22828709/ 22820814/ 3716 Fax No. 91-33-22823715 LIGHTING DIVISION
Dr. E. Moses
Road, Worli, Mumbai - 400018, Maharashtra, India Tel. No. 91-22-24604701 |
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Regional
Office : |
3rd Floor, Express Building, 9-10 Bahadur Shah Zafar Marg,
Near to Crossing, New Delhi-110001, India |
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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
Indore 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 |
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Overseas offices : |
Located at Poland |
DIRECTORS
As on: 31.03.2013
|
Name : |
Mr. Gautam Thapar
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Designation : |
Chairman |
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Name : |
Mr. S.M. Trehan |
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Designation : |
Vice Chairman
(Managing Director upto 1st June, 2011) |
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Name : |
Mr. L. Demortier |
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Designation : |
Managing Director
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Name : |
Mr. S. Apte |
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Designation : |
Non-Executive
Director |
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Name : |
Mr. Omkar Goswami
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Designation : |
Non-Executive
Director |
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Name : |
Mr .B Hariharan |
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Designation : |
Non-Executive
Director |
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Name : |
Mr. S. Labroo |
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Designation : |
Non-Executive
Director |
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Name : |
Mr. S. Prabhu |
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Designation : |
Non-Executive
Director |
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Name : |
Mr. M. Pudumjee |
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Designation : |
Non-Executive
Director |
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Name : |
Mr. C Lewiner |
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Designation : |
Non-Executive
Director |
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Name : |
Mr. V. Von Massow |
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Designation : |
Non-Executive
Director |
KEY EXECUTIVES
|
Name : |
Mr. M. Acharya |
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Designation : |
Chief Financial Officer |
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Name : |
Mr. W. Henriques |
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Designation : |
Company Secretary |
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Name : |
Mr. L. Demortier |
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Designation : |
Chief Executive Officer |
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Name : |
Mr. Jayant Kulkarni |
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Designation : |
Executive Vice President and President
(Power Business Unit) |
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Name : |
Mr. Dileep Patil |
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Designation : |
Executive Vice President and Chief Technology Officer |
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Name : |
Mr. Sanjay Jorapur |
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Designation : |
Executive Vice President and Global Head ((Human Resources) |
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Name : |
Wilton Henriques |
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Designation : |
Executive Vice President and Global Head (Legal, Governance and Risk) |
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Name : |
Mr. Madhav Acharya |
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Designation : |
Executive Vice President, Chief Financial Officer and Chief
Information Officers |
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Name : |
Norberto Santiago Elustondo |
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Designation : |
Executive Vice President and President (Automation Business Unit) |
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Name : |
Laurent Demortier |
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Designation : |
CEO and Managing Director |
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Name : |
Mr. Ash Gupta |
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Designation : |
Executive Vice President and President (Consumer Business Unit) |
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Name : |
Mr. Anil Raina |
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Designation : |
Executive Vice President and President (Industrial Business Unit |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 31.03.2014
|
Category of
Shareholder |
Total No. of
Shares |
% of Total No.
of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
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|
255945608 |
40.93 |
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|
255945608 |
40.93 |
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|
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|
11505462 |
1.84 |
|
|
11505462 |
1.84 |
|
Total shareholding of Promoter and Promoter Group (A) |
267451070 |
42.77 |
|
(B) Public Shareholding |
|
|
|
|
|
|
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|
97967727 |
15.67 |
|
|
1193585 |
0.19 |
|
|
3633298 |
0.58 |
|
|
42260986 |
6.76 |
|
|
121094708 |
19.36 |
|
|
266150304 |
42.56 |
|
|
|
|
|
|
32584631 |
5.21 |
|
|
|
|
|
|
45300494 |
7.24 |
|
|
6237238 |
1.00 |
|
|
50 |
0.00 |
|
|
7638821 |
1.22 |
|
|
1943690 |
0.31 |
|
|
175356 |
0.03 |
|
|
5516442 |
0.88 |
|
|
3333 |
0.00 |
|
|
91761234 |
14.67 |
|
Total Public shareholding (B) |
357911538 |
57.23 |
|
Total (A)+(B) |
625362608 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
1383534 |
0.00 |
|
|
1383534 |
0.00 |
|
Total (A)+(B)+(C) |
626746142 |
0.00 |
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 : |
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PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
#Licensed Capacity |
*Installed Capacity |
@Actual Production |
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Transformers, Reactors and
Accessories thereof |
MVA Nos. |
49304 38500 |
39700 61000 |
35810 24879 |
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Switchgear, Control Equipment and Accessories thereof |
Nos. |
440600 |
514540 |
367695 |
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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 |
NOTE:
# 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
|
No. of Employees : |
Not Divulged |
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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 : |
NOTE: Working capital
demand loan from bank is secured by hypothecation of inventories, book debts
and trade receivables, both present and future. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sharp and Tannan Chartered
Accountants |
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Solicitors : |
Crawford Bayley
and Company |
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Subsidiaries : |
¨ CG Energy Management Limited ¨ CG PPI Adhesive Products Limited ¨ CG-ZIV Power Automation Solutions Limited ¨ CG International B.V. ¨ CG Power Systems USA Inc. ¨ CG Sales Networks Americas Inc. ¨ CG Sales Networks France SA ¨ CG Power Systems Belgium N.V. ¨ CG Power Systems Canada Inc. ¨ CG Holdings Belgium N.V. ¨ CG Electric Systems Hungary Zrt. ¨ CG Automation Systems UK Limited ¨ PT. CG Power Systems Indonesia ¨ CG Power Systems Ireland Limited ¨ CG Power Solutions USA Inc. ¨ CG Power Systems Brazil LTDA ¨ CG Drives and Automation Sweden AB ¨ CG Drives and Automations Germany GmbH ¨ CG Drives and Automation Netherlands B.V. ¨ Crompton Greaves Holdings Mauritius Limited ¨ CG Power Solutions Limited ¨ ZIV Communications S.A. ¨ ZIV
Aplicaciones y Tecnologia S.L. |
|
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Associates: |
¨
CG Lucy Switchgear Limited ¨ Avantha
Power and Infrastructure Limited |
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Other related
parties in which directors are interested: |
¨
Ballarpur Industries Limited ¨
Solaris ChemTech Industries Limited ¨
BILT Graphic Paper Products Limited ¨
Avantha Technologies Limited ¨
Avantha Holdings Limited ¨
Salient Business Solutions Limited ¨
Avantha Realty Limited ¨
Korba West Power Company Limited ¨
Sabah Forest Industries Sdn. Bhd. ¨
Malanpur Captive Power Limited ¨
Corella Investments Limited ¨
Lustre International Limited ¨
Varun Prakashan Private Limited ¨ Jhabua
Power Limited |
CAPITAL STRUCTURE
After 06.08.2013
Authorised Capital: Rs.
3610.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 1282.983
Millions
As on: 31.03.2013
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1805000000 |
Equity Shares |
Rs. 2/- Each |
Rs.3610.000 Millions |
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|
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Issued Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
641533836 |
Equity Shares |
Rs. 2/- Each |
Rs.1283.000 Millions |
|
|
|
|
|
Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
641491536 |
Equity Shares |
Rs. 2/- Each |
Rs.1283.000 Millions |
|
|
|
|
|
(a)
Reconciliation of the number of the shares
outstanding at the beginning and at the end of the year:
|
Particulars |
31.03.2013 |
|
|
Authorised share capital: |
No. of Shares |
Rs. in Millions |
|
|
|
|
|
Balance at the beginning of the year |
1805000000 |
3610.000 |
|
Amalgamation of wholly owned subsidiary with the company (Refer note
below) |
-- |
-- |
|
Balance at the end of the year |
1805000000 |
3610.000 |
(b)
Terms /
rights attached to equity shares:
The Company has
only one class of share capital, i.e., equity shares having face value of Rs.2 per
share. Each holder of equity share is entitled to one vote per share.
During the year,
the Company has declared and paid interim dividend of Rs. 0.80 per share. The
Company has recommended a fi nal dividend of Rs.0.40 per share, subject to
approval of shareholders at the ensuing Annual General Meeting. In the event of
liqudation, the equity shareholders are eligible to receive the remaining
assets of the Company after distribution of all preferential amounts, in
proportion to their shareholding.
(c)
Details shareholders holding more than 5% shares in
the Company:
|
Particulars |
31.03.2013 |
|
|
% |
No. of Shares |
|
|
1. Avantha Holdings limited |
39.90 |
255937034 |
|
2. HDFC Trustee company limited |
9.05 |
58069500 |
|
3. life insurance corporation of India |
5.46 |
35043515 |
(d)
There are no shares
reserved for issue under options and contracts / commitments for the sale of
shares / disinvestment.
(e)
Aggregate number of bonus shares issued during the period
of five years immediately preceding the reporting date:
|
Particulars |
31.03.2013 |
|
No. of Shares |
|
|
|
|
|
shares issued as fully paid-up bonus shares |
274924944 |
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1283.000 |
1283.000 |
1283.000 |
|
(b) Reserves & Surplus |
29285.500 |
25725.800 |
21757.800 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
30568.500 |
27008.800 |
23040.800 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
7.500 |
20.600 |
50.800 |
|
(b) Deferred tax liabilities (Net) |
498.300 |
432.300 |
735.200 |
|
(c) Other long term liabilities |
273.300 |
249.400 |
673.600 |
|
(d) long-term provisions |
380.900 |
311.100 |
84.000 |
|
Total Non-current Liabilities (3) |
1160.000 |
1013.400 |
1543.600 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
129.300 |
2.000 |
0.000 |
|
(b) Trade payables |
15143.100 |
11710.300 |
10954.200 |
|
(c) Other current
liabilities |
4216.600 |
4778.600 |
3748.800 |
|
(d) Short-term provisions |
1478.700 |
1191.800 |
1608.800 |
|
Total Current Liabilities (4) |
20967.700 |
17682.700 |
16311.800 |
|
|
|
|
|
|
TOTAL |
52696.200 |
45704.900 |
40896.200 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
6043.200 |
5308.900 |
8201.500 |
|
(ii) Intangible Assets |
561.700 |
652.700 |
551.500 |
|
(iii) Capital
work-in-progress |
749.100 |
582.900 |
416.600 |
|
(iv)
Intangible assets under development |
398.600 |
210.300 |
55.700 |
|
(b) Non-current Investments |
5545.800 |
5515.900 |
3790.200 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
181.000 |
228.700 |
183.600 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
13479.400 |
12499.400 |
13199.100 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
5004.600 |
5009.100 |
4026.200 |
|
(b) Inventories |
5485.000 |
4496.000 |
4057.200 |
|
(c) Trade receivables |
18406.200 |
17356.200 |
15101.800 |
|
(d) Cash and cash
equivalents |
2887.900 |
3211.000 |
1508.900 |
|
(e) Short-term loans
and advances |
6935.700 |
2644.400 |
2525.400 |
|
(f) Other current
assets |
497.400 |
488.800 |
477.600 |
|
Total Current Assets |
39216.800 |
33205.500 |
27697.100 |
|
|
|
|
|
|
TOTAL |
52696.200 |
45704.900 |
40896.200 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
71353.000 |
64853.800 |
59514.700 |
|
|
|
Other Income |
986.800 |
743.900 |
961.500 |
|
|
|
TOTAL |
72339.800 |
65597.700 |
60476.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of raw
materials and components consumed and construction materials |
35652.800 |
34676.200 |
30484.500 |
|
|
|
Purchases of stock-in-trade |
18118.000 |
12654.700 |
10739.300 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(429.900) |
(73.900) |
(568.400) |
|
|
|
Employee benefits |
4111.700 |
3635.900 |
3101.700 |
|
|
|
Other Expenses |
7954.300 |
6754.100 |
6432.500 |
|
|
|
TOTAL |
65406.900 |
57647.000 |
50189.600 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
6932.900 |
7950.700 |
10286.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
254.100 |
276.600 |
207.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
6678.800 |
7674.100 |
10079.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
718.600 |
907.100 |
808.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
5960.200 |
6767.000 |
9270.100 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1501.800 |
1718.400 |
2326.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
4458.400 |
5048.600 |
6943.300 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
20592.100 |
17401.600 |
12724.100 |
|
|
|
|
|
|
|
|
|
Add |
AMOUNT
TRANSFERRED ON AMALGAMATION OF A SUBSIDIARY |
-- |
(134.300) |
78.400 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
450.000 |
680.000 |
700.000 |
|
|
|
1st Interim Dividend |
256.600 |
513.200 |
513.200 |
|
|
|
2nd Interim Dividend |
256.600 |
128.300 |
513.200 |
|
|
|
3rd Interim Dividend |
0.000 |
256.600 |
384.900 |
|
|
|
Proposed Dividend |
256.600 |
0.000 |
0.000 |
|
|
|
Corporate Dividend Tax |
126.900 |
145.700 |
232.900 |
|
|
BALANCE CARRIED
TO THE B/S |
23703.800 |
20592.100 |
17401.600 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods (on FOB Basis) including deemed exports Rs.2360.100
millions |
8501.200 |
8719.600 |
10555.700 |
|
|
|
Service Income |
57.700 |
131.000 |
149.100 |
|
|
|
Other Earnings |
212.700 |
138.700 |
0.000 |
|
|
TOTAL EARNINGS |
8771.600 |
8989.300 |
10704.800 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
5981.400 |
5579.800 |
4525.100 |
|
|
|
Trading Goods |
1303.300 |
951.500 |
703.900 |
|
|
|
Spares Parts |
28.800 |
33.200 |
54.500 |
|
|
|
Capital Goods |
288.500 |
336.000 |
83.900 |
|
|
TOTAL IMPORTS |
7602.000 |
6900.500 |
5367.400 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.95 |
7.87 |
10.82 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2013 |
30.09.2013 |
31.12.2013 |
|
Audited / UnAudited |
1st
Quarter |
2nd Quarter |
3rd Quarter |
|
Net Sales |
18194.200 |
17658.500 |
18676.500 |
|
Total Expenditure |
16670.300 |
16068.400 |
16983.600 |
|
PBIDT (Excl OI) |
1523.900 |
1590.100 |
1692.900 |
|
Other Income |
364.300 |
402.100 |
303.300 |
|
Operating Profit |
1888.200 |
1992.200 |
1996.200 |
|
Interest |
0.000 |
0.000 |
0.000 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
1888.200 |
1992.200 |
1996.200 |
|
Depreciation |
211.800 |
216.900 |
219.500 |
|
Profit Before Tax |
1676.400 |
1775.300 |
1776.700 |
|
Tax |
430.100 |
427.300 |
421.300 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
1246.300 |
1348.000 |
1355.400 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
1246.300 |
1348.000 |
1355.400 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
6.16 |
7.70 |
11.48 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.35 |
10.43 |
15.58 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.96 |
17.18 |
25.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.25 |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.87 |
1.88 |
1.70 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
1283.000 |
1283.000 |
1283.000 |
|
Reserves & Surplus |
21757.800 |
25725.800 |
29285.500 |
|
Net
worth |
23040.800 |
27008.800 |
30568.500 |
|
|
|
|
|
|
long-term borrowings |
50.800 |
20.600 |
7.500 |
|
Short term borrowings |
0.000 |
2.000 |
129.300 |
|
Total
borrowings |
50.800 |
22.600 |
136.800 |
|
Debt/Equity
ratio |
0.002 |
0.001 |
0.004 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
59514.700 |
64853.800 |
71353.000 |
|
|
|
8.971 |
10.021 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
59514.700 |
64853.800 |
71353.000 |
|
Profit |
6943.300 |
5048.600 |
4458.400 |
|
|
11.67% |
7.78% |
6.25% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
No |
|
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 |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
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 |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
CASE
DETAILS
BENCH:
– BOMBAY
|
Presentation
Date :- 01.01.2014 |
|
Stamp
No: - ITXAL/2/2014 Filing Date: - 01.01.2014 Reg.
No:- ITXA/279/2014 Reg. Date:- 15.02.2014 |
|
Petitioner:- COMMISSIONER
OF INCOME TAX – 6 Respondent:- CROMPTON GREAVES
LIMITED
Resp. Adv. : SUBHASH SANJEEVA SHETTY MR.
HIRO District: MUMBAI |
|
Bench:- DIVISION Status:- Pre-Admission Next Date:- 18.07.2014
Stage:- Last Coram:- ACCORDING TO SITTING LIST ACCORDING TO SITTING
LIST |
|
Act:- Income Tax Act, 1961
Under Section: - 260A |
CHARGES
|
ENTITY |
PERSON |
COMPETENT
AUTHORITY |
REGULATORY
CHARGES |
REGULATORY
ACTION(S) / DATE OF ORDER |
FURTHER
DEVELOPMENTS |
|
CROMPTON GREAVES LIMITED |
J.VENKADESH |
DRT |
DEFAULT OF DUES |
SHOW CAUSE
NOTICE |
|
UNSECURED LOAN:
|
Particulars |
31.03.2013 [Rs.
in Millions] |
31.03.2012 [Rs.
in Millions] |
|
Long Term
Borrowing |
|
|
|
Interest-free
sales tax deferral loans from State Government |
7.500 |
20.600 |
|
|
|
|
|
Total |
7.500 |
20.600 |
NOTE: (Unsecured Loan)
The Company has
opted for the deferral Scheme of sales tax, which is payable as per the Scheme
framed by State Government
INDEX CHARGES:
|
S.No. |
Charge ID |
Date of Charge Creation/Modification
|
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
80015435 |
07/12/2012 * |
29,000,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH , UNION BANK BHAVAN, 1ST FLOOR , VIDHAN BHAVAN
MARG, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B65017337 |
* Date of charge modification
ACQUISITION
On 27 July 2012, the Company acquired ZIV Group based in Spain, engaged in the design, engineering, manufacturing and support of Intelligent Electrical Devices (lEDs) and power automation systems for Utilities and Industries, for an Enterprise Value of _147 million.
ZIV's offerings span from Substation and Distribution Automation, to Advanced Metering Infrastructure (AMI). ZIV has installed more than 1.4 million lEDs for Utilities and Industries across the world. This acquisition expands the CG portfolio for power system automation and protection and creates a strong platform for CG in the smart grid arena.
On 11 January 2013, the Company acquired the Compact Fluorescent Lamps (CFL) business of Karma Industries at Baddi, Himachal Pradesh, for an approximate value of Rs. 145 million. The acquisition will double the Company's capacity in the fast-growing CFL lighting segment and reinforce its presence in the rapidly growing Indian consumer market.
AMALGAMATION
CG-ZIV Power Automation Solutions Limited (CG-ZIV) is a Joint Venture Company between the Company and ZIV Spain. Post-acquisition of ZIV Group, for simplification of the shareholding structure and operational synergies, the Board of Directors at their Meeting held on 13 April 2013, approved the amalgamation of CG-ZIV with the Company; A Scheme of Amalgamation will shortly be filed with the High Court of Judicature at Bombay.
JOINT VENTURE
On 2 May 2013, the Company entered into a Joint Venture Agreement with PT Prima Layanan Nasional Enjinring (PLNE) of Indonesia, for the manufacture of high voltage (HV) and extra high voltage (EHV) switchgear ranging from 70kV to 500kV in Indonesia. The Joint Venture will be owned 51 % by CG and 49% by PLNE.
STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 31ST MARCH, 2014
|
Particulars |
31.03.2014 |
31.12.2013 |
31.03.21014 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
||
|
a. Net Sales
(Net of excise duty) |
20366.500 |
18676.500 |
74895.700 |
|
|
b. Other
Operating Income |
-- |
-- |
-- |
|
|
Total Income from Operations (Net) |
20366.500 |
18676.500 |
74895.700 |
|
|
Expenditure |
|
|
|
|
|
a. Cost of
Materials Consumed |
9859.300 |
9258.900 |
36175.200 |
|
|
b. Purchase of
Stock-in-Trade |
5132.700 |
4850.600 |
19932.100 |
|
|
c. Changes in
Inventories of Finished Goods & Stock in trade |
231.600 |
(222.900) |
(127.700) |
|
|
d. Employee
Benefits Expenses |
1264.200 |
1217.200 |
4763.600 |
|
|
e. Depreciation
and amortisation Expense |
245.300 |
219.500 |
893.500 |
|
|
f. Other
Expenses |
2027.200 |
1879.800 |
7494.100 |
|
|
Total Expenses |
18760.300 |
17203.100 |
69130.800 |
|
|
Profit from Operations
before Other Income, Finance Costs & Exceptional Items |
1606.200 |
1473.400 |
5764.900 |
|
|
Other Income |
251.800 |
294.200 |
1139.400 |
|
|
Profit Before
Finance Costs & Exceptional Items |
1858.000 |
1767.600 |
6904.300 |
|
|
Finance Costs |
(38.100) |
(9.100) |
(220.200) |
|
|
Profit after
Finance Cost but before exceptional items |
1866.100 |
1776.700 |
7124.500 |
|
|
Exceptional
Items |
-- |
-- |
-- |
|
|
Profit before Tax |
1896.100 |
1776.700 |
7124.500 |
|
|
Tax Expense |
634.900 |
421.300 |
1913.600 |
|
|
Net Profit for the period |
1261.200 |
1355.400 |
5210.900 |
|
|
Paid up Equity Share Capital (Face Value of Rs.2/- Each) |
1253.500 |
1258.200 |
1253.500 |
|
|
Reserves excluding Revaluation |
-- |
-- |
32171.000 |
|
|
Reserves Basic and
Diluted Earnings Per Share (Rs.) (Not Annualised) |
1.99 |
2.14 |
8.23 |
|
|
|
|
|
|
|
|
PARTICULARS OF
SHAREHOLDING |
|
|
|
|
|
Public shareholding |
|
|
|
|
|
a. |
Number of shares |
359295072 |
361649017 |
359295072 |
|
b. |
Percentage of shareholding |
57.33 |
57.49 |
57.33 |
|
Promoters and promoter group shareholding |
|
|
|
|
|
a. |
Pledged/Encumbered |
|
|
|
|
Number of shares |
153637930 |
145209602 |
153637930 |
|
|
|
Percentage of shares (as a % of the total shareholding of promoter and
promoter group) |
57.45 |
54.29 |
57.45 |
|
|
Percentage of shares (as a % of the total share capital of the
Company) |
24.51 |
23.08 |
24.51 |
|
b. |
Non-encumbered |
|
|
|
|
Number of shares |
113813140 |
122241468 |
113813140 |
|
|
|
Percentage of shares (as a % of the total shareholding of promoter and
promoter group) |
42.55 |
45.71 |
42.55 |
|
|
Percentage of shares (as a % of the total share capital of the
Company) |
18.16 |
19.43 |
18.16 |
|
Particulars |
Quarter Ended |
|
B. INVESTOR
COMPLAINTS |
31.03.2014 |
|
Pending at the beginning of the quarter |
Nil |
|
Received during the quarter |
1 |
|
Disposed off during the quarter |
1 |
|
Remaining unresolved at the end of the quarter |
Nil |
STANDALONE SEGMENT-WISE REVENUE, RESULTS AND CAPITAL
EMPLOYED FOR THE QUARTER ENDED 31ST
MARCH, 2014
|
Particulars |
31.03.2014 |
31.12.2013 |
31.03.21014 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
Segment Revenue (net of excise duty): |
|
|
|
|
(a) Power Systems |
8551.100 |
7369.500 |
28235.300 |
|
(b) Consumer
Products |
7483.600 |
6509.700 |
28470.500 |
|
(c)
Industrial Systems |
3654.900 |
3914.300 |
14889.400 |
|
(d) Others |
793.400 |
1048.000 |
3847.000 |
|
Total Less: Inter-Segment Revenue |
20483.000 116.500 |
18841.500 165.000 |
75442.200 546.500 |
|
Total
income from operations (net) |
20366.500 |
18676.500 |
74895.700 |
|
Segment
Results [Profit / (loss) before tax and finance costs from each segment] |
|
|
|
|
(a) Power
Systems |
807.300 |
694.800 |
2585.200 |
|
(b) Consumer
Products |
906.700 |
759.300 |
3374.600 |
|
(c)
Industrial Systems |
308.700 |
416.000 |
1528.700 |
|
(d) Others |
13.700 |
21.700 |
18.800 |
|
Total |
2036.400 |
1891.800 |
7507.300 |
|
Less:
(i) Finance costs (net) |
(38.100) |
(9.100) |
(220.200) |
|
(ii) Other
un-allocable expenditure net of un-allocable income |
178.400 |
124.200 |
603.000 |
|
Profit from ordinary activities
before tax |
1896.100 |
1776.700 |
7124.500 |
|
Capital
Employed: (Segment
Assets - Segment Liabilities) |
|
|
|
|
(a) Power
Systems |
8516.500 |
8460.900 |
8516.500 |
|
(b) Consumer
Products |
1211.600 |
1307.800 |
1211.600 |
|
(c)
Industrial Systems |
3967.600 |
3805.300 |
3967.600 |
|
(d) Others |
1893.600 |
1390.900 |
1893.600 |
|
(e) Unallocable |
19016.100 |
18989.000 |
19016.100 |
|
Total |
34605.400 |
33953.900 |
34605.400 |
STANDALONE
STATEMENT OF ASSETS AND LIABILITIES
|
Particular |
31.03.2014 (Rs.
In Millions) |
|
EQUITY AND
LIABILITIES |
|
|
Shareholders’
funds |
|
|
(a) Share capital |
1253.500 |
|
(b) Reserves and surplus |
32307.200 |
|
Sub-total
- Shareholders' funds |
33560.700 |
|
|
|
|
Non-current
liabilities |
|
|
(a) Long-term borrowings |
5.400 |
|
(b) Deferred Tax Liabilities (Net) |
735.900 |
|
(c) Other Long Term Liability |
280.300 |
|
(d) Long Term Provision |
419.100 |
|
Sub-total
- Non-current liabilities |
1440.700 |
|
|
|
|
Current
liabilities |
|
|
(a) Short -term borrowings |
299.900 |
|
(b) Trade payables |
15630.700 |
|
(c) Other Current Liability |
3629.500 |
|
(d) Short-term provision |
1303.000 |
|
Sub-total
- Current liabilities |
20863.100 |
|
|
|
|
TOTAL
- EQUITY AND LIABILITIES |
55864.500 |
|
|
|
|
ASSETS |
|
|
Non-current
assets |
|
|
(a) Fixed assets |
8226.300 |
|
(b) Non-current investment |
8057.100 |
|
(c) Long-term loans and advances |
426.700 |
|
Sub-total
- Non-current assets Current assets |
16710.100 |
|
Current assets |
|
|
(a) Current Investment |
206.300 |
|
(b) Inventories |
5577.800 |
|
(c) Trade receivables |
19079.200 |
|
(d) Cash and cash equivalents |
4428.000 |
|
(e) Short-term loans and advances |
9192.200 |
|
(f) Other current assets |
670.900 |
|
Sub-total
- Current assets |
39154.400 |
|
|
|
|
TOTAL
- ASSETS |
55864.500 |
NOTES:
1.
The above audited standalone financial results have
been reviewed by the Audit Committee at its meeting held on 28 May, 2014 and
approved by the Board of Directors at its meeting held on @ May, 2014.
2. The Company, during the year, declared interim dividends of t 0.80 per share on equity shares of Rs. 2 each for financial year 2013-14. The Board of Directors have recommended a final dividend of Rs. 0.40 per share on 626,746,142 equity shares, Subject to approval of the shareholders at the ensuing Annual General Meeting.
3. The Company, during the year, has bought 14,745,394 equity shares under the Buy-back Scheme at a cost of Rs. 1335.600 millions (including service tax). A sum of Rs. 1335.400 millions pertaining to shares extinguished during the year has been reduced from securities premium account and Rs. 29.500 millions representing the face value has been reduced from the share capital and transferred to capital redemption reserve. The total amount utilised in the buyback is Rs. 1335.600 millions (including services tax), being 50.27% of the maximum buy-back size of Rs. 2657.000 millions. All shares bought back have been fully extinguished as on date.
4. The Board of Directors have approved the Scheme of Amalgamation of CG-ZIV Power Automation Solutions Limited and CG Energy Management Limited (wholly owned subsidiaries) with the Company on @ January, 2014. The amalgamation will be effective from 1st April, 2014 subject to receipt of all regulatory approvals.
5. Figures of the previous quarters / year have been regrouped, wherever necessary.
FIXED ASSETS:
œ Freehold Land
œ Leasehold Land
œ Buildings
œ Plant and Machinery
œ Railway sidings
œ Furniture and Fixtures
œ Office Equipments
œ Aircrafts
œ Vehicles
œ Goodwill
œ Computer Software
œ Technical Know – how
œ Commercial rights
œ Research and Development
PRESS RELEASE:
CROMPTON GREAVES Q1 NET FALLS 30% TO RS.
600.000 MILLIONS
07.08.2013
New Delhi: Power equipment maker Crompton Greaves (CG) today reported 30 per cent fall in its net profit to Rs 600.000 millions for the first quarter ended June 30, 2013.
The company has posted a PAT (profit after tax) of Rs.
860.000 millions in the corresponding quarter of the previous financial year, the company said in a filing to the stock exchange.
Total income of the company during the period under review stood at Rs. 31925.000 millions, compared to Rs.
28303.000 millions for the same quarter a year ago.
"First quarter of the current fiscal has been an encouraging quarter for
CG, despite a challenging market environment. The performance of all our
businesses in India has shown significant improvement," CEO and managing director Laurent Demortier said.
The company received orders worth Rs. 24410.000
millions in the first quarter of the current fiscal.
Shares of the company were trading at Rs. 85.50, up
1.24 per cent from the previous close on BSE.
CG INAUGURATES 1600 KV ULTRA HIGH VOLTAGE (UHV) RESEARCH CENTRE
October 14, 2013
· To deliver reliable and customized UHV Switchgear for Global markets
· Invested Rs 400 million to enhance its R&D capabilities to achieve global excellence in the UHV domain
MUMBAI, Avantha Group Company CG inaugurated its 1600kV Ultra High Voltage (UHV) Research Centre at its Switchgear Complex in Nashik.
CG has invested nearly Rs 400 million in this world class infrastructure to enhance its R&D capabilities to achieve global excellence in the UHV domain. This Research Centre is a 21,786 sq ft and 118 ft tall, electrical-noise-free infrastructure, built with sophistication, intricacy and equipped with the latest state-of-the-art testing equipment. Having achieved leadership position in the manufacture of power products up to 765 kV, this is a significant move towards fulfilling CG’s strategic objective of positioning itself as a sizeable player in the UHV arena in the world. Prime markets for these products are large countries like India, South America and Africa, where such very high voltage transmission networks are present. The Research Centre facilitates reliable and economic new product development for the global UHV/EHV (Extra High Voltage) markets, spanning 800kV EHV to 1200 kV UHV power transmission systems. It is envisaged to be CG’s manufacturing and development hub for Switchgear.
The centre will focus on research and development of high power sub-station equipment, such as Circuit Breakers (Live Tank and Dead Tank), GIS (Gas Insulated Switchgear), Instrument Transformers (CT / IVT / CVT) (Current Transformers/Inductive Voltage Transformers/Capacitive Voltage Transformers), Transformer Bushings, Surge Arresters, and Disconnectors with enhanced capabilities and at competitive prices. The centre is equipped with 1600 kV AC and 3600 kV, 360 kJ Impulse test systems to conduct all the dielectric performance tests as per the latest global IEC, ANSI standards and other International product standards. It will also facilitate developmental research tests, on new dielectric systems and products. This UHV infrastructure will help in the local manufacture of UHV products, thus saving huge costs on imports to Indian customers. CG’s Global customers can have the benefit of getting the entire range of products of global quality standard, from Medium Voltage to Ultra High Voltage, from a single source.
Commenting on the inauguration, Avantha Group Company CG’s CEO and Managing Director, Mr. Laurent Demortier said, “First, I do congratulate the CG team and thank our customers and local authorities who supported us for the construction of this centre. This inauguration is an important milestone for CG. This Research Centre will provide us with the necessary tools to effectively compete in the fast growing UHV/ EHV market segments. The CG centre in Nashik, which has been providing MV (Medium Voltage) and HV (High Voltage) switchgear for customers all around the world, will fuel CG’s growth by producing a full range of EHV and UHV switchgear up to 1200 KV”
Vikrant Chopra and team win the Pro-Am event of the CG Open 2013
December 1, 2013
Mumbai,: The Pro-Am event of the CG Open 2013 was won by professional Vikrant Chopra and his team at the Bombay Presidency Golf Club on Sunday.
The Pro-Am was played in the team scramble format where the team’s best ball was chosen on every shot including the putting green. After the best ball was chosen all other players were to place their ball within one Score Card length before continuing play.
PGTI member Vikrant Chopra led his team to victory with a score of 52.3. Chopra’s team comprised of amateurs Mr. Snehal Kulshreshtha, Mr. Vivek Bajpeyi and Mr. Sanjay Shesh.
PGTI member Harendra Gupta’s team posted a score of 53.1 to finish second. Gupta’s team comprised of amateurs Col. S K Sinha, Mr. Kuldeep Singh Sandhu and Mr. Kabir Kewalramani.
PGTI member Anura Rohana’s team finished third with a score of 53.7. Rohana’s team comprised of amateurs Mr. Shashank Sandu, Mr. Anil Nagrath and Mr. Mayur Kamdar.
About Crompton Greaves Limited
Avantha Group
Company CG is a global pioneering leader in the management and application of
electrical energy. With more than 15,000 employees across its operations in
around 85 countries, CG provides electrical products, systems and services for
utilities, power generation, industries, and consumers. The company is
organized into three business groups: Power, Industrial, and Consumer. CG
clocks US$ 2.3 billion in revenues from product lines that cover the entire
value chain of engineering offerings.
About Avantha
The Rs. 250000.000
millions (US$4bn) Avantha Group is one of India`s leading business
conglomerates. Its successful entities in diversified sectors include Crompton
Greaves (power transmission and distribution equipment and services), BILT
(paper and pulp), The Global Green Company Limited (food processing), Biltech
Building Elements Limited (infrastructure), Avantha Power (energy), Salient
Business Solutions Limited (IT and ITES), Jg Glass (glass containers).
With a global
footprint, the Group operates in 90 countries with more than 25,000 employees
worldwide. Led by Gautam Thapar, Avantha demonstrates strong leadership
globally and emerges as a focused corporate, leveraging its knowledge,
leadership and operations, adding lasting value for its stakeholders and
investors.
About PGTI:
Formed in 2006, Professional Golf Tour of India (PGTI) is the recognized official body of professional golf in India. PGTI`s objective is to promote professional golf in the country, as well as to give players an opportunity to be involved in the decision making on all aspects of the game. Headed by Mr. Gautam Thapar (President), PGTI`s governing body comprises leading Indian golf professionals. PGTI currently has over 300 members
CG upgrades substation at Global Foundries' Fab Malta, New York
01st April, 2014
¨ Design, procurement, engineering and installation completed
¨ Showcases capability in meeting semiconductor industry demand
¨ Strengthens relationship for next phase of the plant expansion
Mumbai, April 1, 2014. Avantha Group Company CG has successfully designed, engineered, installed, tested and commissioned a substation expansion including two 45/75 MVA power transformers for the Global Foundries’ Fab 8 computer chip manufacturing complex in Malta, New York.
CG’s power transformers will ensure a continuous, reliable power supply at Global Foundries’ Malta plant, which has a 300,000-square-foot clean room, a fabrication area approaching one million square feet, and a workforce of more than 2,000.
CG was selected for this important project because of the company’s ability to provide a total solution EPC approach to a project that had a compact construction schedule.
After successfully designing, procuring and installing the original transmission lines and substation during the initial construction phase of the Fab 8 plant in 2009-10, CG has remained a valued-added partner with GlobalFoundries. The current project places the company in a favorable position to provide turnkey Transmission and Distribution (T&D) solutions, including post-project services, for the next phase of the GlobalFoundries Malta fabrication plant, which is expected to be completed in 2014.
The market size for power transformers in the U.S. is estimated to reach 4640 Mn USD by 2018. It is growing at an estimated CAGR of 6% and this market is just 18% of the global power transformer market.*
In the US, CG has Manufacturing Units, Sales Offices and Service Facilities in Washington (Missouri), Springfield (New Jersey), Albany and Rochester (New York), Connecticut, Florida, Idaho, Illinois, Maryland, Pennsylvania and Rhode Island. The company has successfully completed over 300 projects in 34 US states and 14 foreign countries, ranging from 2.4 kV class to 765 kV class. It is responsible for interconnecting 22% of wind power in the United States.
Commenting on the completion of this project, Avantha Group Company CG’s CEO and Managing Director Laurent Demortier said: “The completion of this project marks the continuing diversification of CG into industrial markets. We thank GlobalFoundries and their General Contractor for renewing their trust in CG and we look forward to strengthening our relationship as a long-standing partner, able to supply high-quality, durable power equipment that meets their needs for a reliable power source.”
About CG
Avantha Group Company CG is a
global pioneering leader in the management and application of electrical
energy. With more than 15,000 employees across its operations in around 85
countries, CG provides electrical products, systems and services for utilities,
power generation, industries, and consumers. The company is organized into four
business groups: Power, Industrial, Automation, and Consumer. CG clocks US$ 2.3
billion in revenues from product lines that cover the entire value chain of
engineering offerings.
About Avantha
The Rs. 250000.000 millions (US$4bn) Avantha Group is one of India`s leading business conglomerates. Its successful entities in diversified sectors include Crompton Greaves (power transmission and distribution equipment and services), BILT (paper and pulp), The Global Green Company Limited (food processing), Biltech Building Elements Limited (infrastructure), Avantha Power (energy), Salient Business Solutions Limited (IT and ITES), Jg Glass (glass containers)
With a global footprint, the
Group operates in 90 countries with more than 25,000 employees worldwide. Led
by Gautam Thapar, Avantha demonstrates strong leadership globally and emerges
as a focused corporate, leveraging its knowledge, leadership and operations,
adding lasting value for its stakeholders and investors.
CG expands its RMU
capacity to cater to the Indian Subcontinent
July 01, 2014
· To address larger goal of cutting power distribution losses
· Expansion of domestic footprint, investment of INR 100 mn
· Production capacity more than doubled to produce 1,000 RMUs per month
Mumbai: Avantha Group Company CG`s joint venture - CG Lucy, today inaugurated its new Ring Main Unit (RMU) production facility at Nashik, India. Incorporated in 1994, CG Lucy Switchgear Ltd. is a joint venture company between CG and W. Lucy & Co. Ltd., Oxford, U.K. The facility offers RMUs for enhancing the efficiency of power distribution networks, preventing transformer burnouts and is equipped with a partial discharge testing facility up to 33kV.
The new facility is the fruition of CG`s expansion strategy in the domestic market. CG Lucy has more than doubled its capacity to produce 1000 RMUs per month for the growing demand of reliable and secure power supply in the rapidly expanding Indian subcontinent. Built with an investment of INR 100 million, this plant is spread across an area of 3500 square meters and aims to employ approximately 200 people.
This plant is specially equipped with an Automated Sealant preparation process, a Robotic Welding setup and a Partial Discharge test facility for producing High Quality and Reliable products. It will produce RMUs for the expansion of power distribution networks for utilities, especially in megacities, industries, infrastructure projects and buildings with a huge power demand. Compact, lightweight and easy to install, these RMUs isolate the faulty section, ensuring continuous power supply to end users. They can be universally applied across 12kV/ 24kV distribution controls in network distribution, for e.g. the municipality, compact substations, buildings, complexes, hospitals and industries.
In 2013, CG won the largest contract for the Design, Engineering, Manufacture, Supply, Erection, Testing and Commissioning of 11kV and 22kV RMUs and associated materials in consortium with the ECC Division of L&T Ltd. This order primarily includes the supply of 3,283 RMUs to the Tamil Nadu Generation & Distribution Corporation Limited (TANGEDCO), for their Restructured Accelerated Power Development and to the Reforms Programme (R-APDRP) in seven cities of Tamil Nadu.
Power distribution losses in India are approximately INR 600-650 bn. CG holds a market share of 18 percent in the distribution switchgear market.
Commenting on the inauguration of the new facility, Lucy Switchgear Chairman, Richard Dick, said : I am very pleased to be here in Nashik to mark the inauguration of this new RMU manufacturing facility. This will provide a significant increase in capacity to enable CG Lucy to meet a growing demand in India for RMUs and allied equipment. The latest techniques will be employed to ensure that CG Lucy`s reputation as a first class supplier is maintained and additional engineering resources will be available so that new customer specific requirements can be met. I congratulate the CG Lucy team on completing this fine new building.
Commenting on the inauguration of the new facility, Avantha Group Company CG`s CEO and Managing Director Laurent Demortier averred : "I commend the CG Lucy team for this new feat. It is our proud privilege to have partnered with Lucy switchgear - a 100+ year old leader in secondary power distribution solutions. This is our second RMU facility which is an example of cutting edge medium voltage design and innovation. The new facility reinforces CG`s strategic business intent to further expand its domestic footprint to offer best-in-class electrical products and solutions to the megacities of the Indian subcontinent where distribution losses are a major concern."
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 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 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.59.73 |
|
|
1 |
Rs.102.36 |
|
Euro |
1 |
Rs.81.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
63 |
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.