MIRA
INFORM REPORT
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Report No. : |
305431 |
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Report Date : |
30.01.2015 |
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) : |
31.03.2014 |
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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. 1253.500 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
: |
The main objects of the Company is manufacture, distribution and sales,
installation and servicing of electrical and allied equipment such as
industrial motors, fractional horse power motors, control gear, power and
distribution transformers, alternators, switchgear, tap changers, etc. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
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MIRA’s Rating : |
A (63) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having good track record. Financial position of the company is sound. Fundamentals are strong. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitment. The company can be considered normal 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.
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 |
September 2014 |
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
31-03-2014.
INFORMATION DECLINED
Management Non-cooperative. (Tel. No.: 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 |
DIRECTORS
As on: 31.03.2014
|
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
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Name : |
Mr. M. Acharya |
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Designation : |
Chief Financial Officer |
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Name : |
Mr. M. Bhosale |
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Designation : |
Company Secretary |
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Name : |
Mr. Ravi Rajagopal |
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Designation : |
Executive Vice President and Global Head |
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Name : |
Mr. Sanjay Jorapur |
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Designation : |
Executive Vice President and Global Head |
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Name : |
Mr. Jayant Kulkarni |
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Designation : |
Executive Vice President and Global Head |
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Name : |
Mr. Norberto Santiago Elustondo |
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Designation : |
Executive Vice President and Global Head |
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Name : |
Mr. Ash Gupta |
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Designation : |
Executive Vice President and Global Head |
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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. Madhav Acharya |
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Designation : |
Executive Vice President, Financial Officer and Chief Information Officer |
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Name : |
Mr. Anil Raina |
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Designation : |
Executive Vice President and President |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 31.12.2014
|
Category of
Shareholder |
Total No. of
Shares |
% of Total No.
of Shares |
|
(A) Shareholding of Promoter and
Promoter Group |
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|
215451070 |
34.43 |
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|
215451070 |
34.43 |
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Total shareholding of Promoter
and Promoter Group (A) |
215451070 |
34.43 |
|
(B) Public Shareholding |
|
|
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|
|
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|
153702217 |
24.56 |
|
|
1638880 |
0.26 |
|
|
38380220 |
6.13 |
|
|
93247944 |
14.90 |
|
|
524 |
0.00 |
|
|
286969785 |
45.86 |
|
|
|
|
|
|
60233463 |
9.63 |
|
|
|
|
|
|
51165133 |
8.18 |
|
|
6037204 |
0.96 |
|
|
5910643 |
0.94 |
|
|
2268002 |
0.36 |
|
|
447831 |
0.07 |
|
|
3192002 |
0.51 |
|
|
2808 |
0.00 |
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|
123346443 |
19.71 |
|
Total Public shareholding (B) |
410316228 |
65.57 |
|
Total (A)+(B) |
625767298 |
100.00 |
|
(C) Shares held by Custodians and
against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
978844 |
0.00 |
|
|
978844 |
0.00 |
|
Total |
626746142 |
0.00 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Promoter and
Promoter Group:
|
Sl.No. |
Name of the
Shareholder |
Details of Shares
held |
Total shares (including
underlying shares assuming full conversion of warrants and convertible
securities) as a % of diluted share capital |
|
1 |
Avantha Holdings Limited |
215442496 |
34.37 |
|
2 |
Varun Prakashan Private Limited |
5022 |
0.00 |
|
3 |
Avantha Realty Limited |
3552 |
0.00 |
|
|
Total |
215451070 |
34.38 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Public and holding
more than 1% of the total number of shares
|
Sl. No. |
Name of the
Shareholder |
No. of Shares held |
Total shares
(including underlying shares assuming full conversion of warrants and
convertible securities) as a % of diluted share capital |
|
|
1 |
HDFC Trustee Company Limited - HDFC Equity Fund |
57809500 |
9.22 |
|
|
2 |
Life Insurance Corporation of India |
30071908 |
4.80 |
|
|
3 |
ICICI Prudential Dynamic Plan |
25832596 |
4.12 |
|
|
4 |
Reliance Capital Trustee Co Limited A/c Reliance Equity |
21585409 |
3.44 |
|
|
5 |
HDFC Standard Life Insurance Company Limited |
13803936 |
2.20 |
|
|
6 |
Government Pension Fund Global |
12018224 |
1.92 |
|
|
7 |
Birla Sun Life Trustee Company Private Limited A/c Birla |
11716231 |
1.87 |
|
|
8 |
Copthall Mauritius Investment Limited |
9470181 |
1.51 |
|
|
9 |
DSP Blackrock India TIGER Fund |
8951128 |
1.43 |
|
|
10 |
HSBC Global Investment Funds A/c HSBC GIF Mauritius |
8307127 |
1.33 |
|
|
11 |
UTI Opportunities Fund |
8219560 |
1.31 |
|
|
12 |
Bajaj Allianz Life Insurance Company Limited |
8202255 |
1.31 |
|
|
13 |
SBI Life Insurance Companyt Limited |
7911258 |
1.26 |
|
|
14 |
ICICI Prudential Life Insurance Company Limited |
7269115 |
1.16 |
|
|
|
Total |
231168428 |
36.88 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons (together with PAC) belonging to the
category “Public” and holding more than 5% of the total number of shares of the
company:
|
Sl. No. |
Name(s) of the shareholder(s)
and the Persons Acting in Concert (PAC) with them |
No. of Shares |
Total shares
(including underlying shares assuming full conversion of warrants and
convertible securities) as a % of diluted share capital |
|
|
1 |
HDFC Trustee Company Limited - HDFC Equity Fund |
57809500 |
9.22 |
|
|
|
Total |
57809500 |
9.22 |
Details of Depository Receipts (DRs):
|
Sl. No. |
Type of Outstanding
DR (ADRs, GDRs, SDRs, etc.) |
No. of Outstanding
DRs |
No. of Shares
Underlying |
Shares Underlying
Outstanding DRs as % of Total No. of Shares |
|
1 |
GDR |
195769 |
978844 |
0.16 |
|
|
Total |
195769 |
978844 |
0.16 |
BUSINESS DETAILS
|
Line of Business : |
The main objects of the Company is manufacture, distribution and
sales, installation and servicing of electrical and allied equipment such as
industrial motors, fractional horse power motors, control gear, power and
distribution transformers, alternators, switchgear, tap changers, etc. |
|
|
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Products : |
·
Motors ·
Fractional Horse Power Motors ·
Control Gear ·
Power And Distribution Transformers ·
Alternators ·
Switchgear ·
Tap Changers, Etc. |
|
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|
Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
v Union Bank of India v IDBI Bank Limited v State Bank of India v ICICI Bank Limited v Corporation Bank v The Royal Bank of Scotland N.V. v Canara Bank v Standard Chartered Bank v Bank of Maharashtra v Credit Agricole CIB v
Yes Bank Limited |
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Facilities : |
(Rs.
In Millions)
|
|
Auditors : |
|
|
Name : |
Sharp and Tannan Chartered Accountants |
|
|
|
|
Solicitors : |
Crawford Bayley
and Company |
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Subsidiaries : |
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Associates: |
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Other related parties in which directors are interested: |
·
Ballarpur Industries Limited ·
Solaris Chem Tech Industries Limited ·
BILT Graphic Paper Products 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
As on: 31.03.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1805000000 |
Equity Shares |
Rs. 2/- Each |
Rs.3610.000 Millions |
|
|
|
|
|
Issued,:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
626788442 |
Equity Shares |
Rs.2/- each |
Rs. 1253.500
Millions |
|
|
|
|
|
Subscribed and Paid
Up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
626746142 |
Equity Shares |
Rs.2/- each |
Rs. 1253.500
Millions |
|
|
|
|
|
Reconciliation of the number of the shares outstanding at the beginning
and at the end of the year:
|
Issued share
capital |
31.03.2014 |
|
|
Authorised share capital: |
No. of Shares |
Rs. in Millions |
|
|
|
|
|
Balance at the beginning of the year |
641533836 |
1283.000 |
|
Less: Shares bought back |
14745394 |
29.500 |
|
Balance at the end of the year |
626788442 |
1253.500 |
|
Subscribed & Paid-up |
31.03.2014 |
|
|
Authorised share capital: |
No. of Shares |
Rs. in Millions |
|
|
|
|
|
Balance at the beginning of the year |
641533836 |
1283.000 |
|
Less: Shares bought back |
14745394 |
29.500 |
|
Balance at the end of the year |
626788442 |
1253.500 |
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 final 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.
Details shareholders holding more than 5% shares in the Company:
|
Particulars |
31.03.2014 |
|
|
% |
No. of Shares |
|
|
1. Avantha Holdings limited |
40.84 |
255937034 |
|
2. HDFC Trustee company limited – HDFC Equity Fund |
9.30 |
58269500 |
|
3. life insurance corporation of India |
5.24 |
32842674 |
Aggregate number of bonus shares issued during the period of five years
immediately preceding the reporting date:
|
Particulars |
31.03.2014 |
|
No. of Shares |
|
|
|
|
|
shares issued as fully paid-up bonus shares |
274924944 |
|
|
|
Aggregate number of bonus shares issued bought back during the period of
five years immediately preceding the reporting date:
|
Particulars |
31.03.2014 |
|
No. of Shares |
|
|
|
|
|
Shares bought back |
14745394 |
|
|
|
Aggregate number of bonus shares issued as GDRs:
|
Particulars |
31.03.2014 |
|
|
% |
No. of Shares |
|
|
|
|
|
|
The Bank of New York |
0.22 |
1383534 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1253.500 |
1283.000 |
1283.000 |
|
(b) Reserves & Surplus |
32307.200 |
29285.500 |
25725.800 |
|
(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) |
33560.700 |
30568.500 |
27008.800 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
5.400 |
7.500 |
20.600 |
|
(b) Deferred tax liabilities (Net) |
735.900 |
498.300 |
432.300 |
|
(c) Other long term liabilities |
280.300 |
273.300 |
249.400 |
|
(d) long-term provisions |
419.100 |
380.900 |
311.100 |
|
Total Non-current Liabilities (3) |
1440.700 |
1160.000 |
1013.400 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
299.900 |
129.300 |
2.000 |
|
(b) Trade payables |
15630.700 |
15143.100 |
11710.300 |
|
(c) Other current
liabilities |
3629.500 |
4216.600 |
4778.600 |
|
(d) Short-term provisions |
1303.000 |
1478.700 |
1191.800 |
|
Total Current Liabilities (4) |
20863.100 |
20967.700 |
17682.700 |
|
|
|
|
|
|
TOTAL |
55864.500 |
52696.200 |
45704.900 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
6745.100 |
6043.200 |
5308.900 |
|
(ii) Intangible Assets |
803.900 |
561.700 |
652.700 |
|
(iii) Capital work-in-progress |
424.200 |
749.100 |
582.900 |
|
(iv) Intangible assets under development |
253.100 |
398.600 |
210.300 |
|
(b) Non-current Investments |
8057.100 |
5545.800 |
5515.900 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
426.700 |
181.000 |
228.700 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
16710.100 |
13479.400 |
12499.400 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
206.300 |
5004.600 |
5009.100 |
|
(b) Inventories |
5577.800 |
5485.000 |
4496.000 |
|
(c) Trade receivables |
19079.200 |
18406.200 |
17356.200 |
|
(d) Cash and cash
equivalents |
4428.000 |
2887.900 |
3211.000 |
|
(e) Short-term loans
and advances |
9192.200 |
6935.700 |
2644.400 |
|
(f) Other current
assets |
670.900 |
497.400 |
488.800 |
|
Total Current Assets |
39154.400 |
39216.800 |
33205.500 |
|
|
|
|
|
|
TOTAL |
55864.500 |
52696.200 |
45704.900 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
74895.700 |
71353.000 |
64853.800 |
|
|
Other Income |
1757.200 |
986.800 |
743.900 |
|
|
TOTAL (A) |
76652.900 |
72339.800 |
65597.700 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
36175.200 |
35652.800 |
34676.200 |
|
|
Purchases of
Stock-in-Trade |
19932.100 |
18118.000 |
12654.700 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(127.700) |
(429.900) |
(73.900) |
|
|
Employees benefits
expense |
4763.600 |
4107.400 |
3635.900 |
|
|
Other expenses |
7494.100 |
7958.600 |
6754.100 |
|
|
TOTAL (B) |
68237.300 |
65406.900 |
57647.000 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
8415.600 |
6932.900 |
7950.700 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
397.600 |
254.100 |
276.600 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8018.000 |
6678.800 |
7674.100 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
893.500 |
718.600 |
907.100 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
7124.500 |
5960.200 |
6767.000 |
|
|
|
|
|
|
|
Less |
TAX (H) |
1913.600 |
1501.800 |
1718.400 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
5210.900 |
4458.400 |
5048.600 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
23703.800 |
20592.100 |
17401.600 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer
to General Reserve |
525.000 |
450.000 |
680.000 |
|
|
1st
Interim Dividend |
251.900 |
256.600 |
513.200 |
|
|
2nd
Interim Dividend |
250.700 |
256.600 |
128.300 |
|
|
3rd
Interim Dividend |
0.000 |
0.000 |
256.600 |
|
|
Proposed
Dividend |
250.700 |
256.600 |
0.000 |
|
|
Corporate
Dividend Tax |
128.000 |
126.900 |
145.700 |
|
|
BALANCE CARRIED TO THE
B/S |
27508.400 |
23703.800 |
20726.400 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
9021.600 |
8310.500 |
8719.600 |
|
|
Service Income |
87.600 |
57.700 |
131.000 |
|
|
Other Earnings |
296.500 |
212.700 |
138.700 |
|
|
Others |
501.900 |
190.700 |
0.000 |
|
|
TOTAL EARNINGS |
9907.600 |
8771.600 |
8989.300 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
6869.000 |
5981.400 |
5579.800 |
|
|
Trading Goods |
1437.800 |
1303.300 |
951.500 |
|
|
Spares Parts |
67.900 |
28.800 |
33.200 |
|
|
Capital Goods |
112.000 |
288.500 |
336.000 |
|
|
TOTAL IMPORTS |
8486.700 |
7602.000 |
6900.500 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(Rs.) |
8.23 |
6.95 |
7.87 |
QUARTERLY RESULTS
|
Particulars |
|
1st
Quarter 30.06.2014 |
2nd Quarter 30.09.2014 |
|
Revenue |
|
1,9046.900 |
1,923480.000 |
|
Other Income |
|
202.500 |
288.200 |
|
Total Income |
|
1,9249.400 |
1,9523.000 |
|
Expenditure |
|
(1,7336.500) |
(1,7565.000) |
|
Interest |
|
42.000 |
38.400 |
|
PBDT |
|
1954.900 |
1996.400 |
|
Depreciation |
|
(238.900) |
(239.600) |
|
PBT |
|
1716.000 |
1756.800 |
|
Tax |
|
(450.400) |
(497.200) |
|
Net Profit |
|
1265.600 |
1259.600 |
|
Equity |
|
1253.500 |
1253.500 |
|
EPS |
|
20.200 |
20.100 |
|
CEPS |
|
24.000 |
23.900 |
|
OPM % |
|
100.400 |
101.800 |
|
NPM % |
|
66.400 |
65.500 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
6.96 |
6.25 |
7.78 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
102.35 |
101.38 |
101.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.12 |
12.96 |
17.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.19 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.01 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.88 |
1.87 |
1.88 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
1283.000 |
1283.000 |
1253.500 |
|
Reserves & Surplus |
25725.800 |
29285.500 |
32307.200 |
|
Net worth |
27008.800 |
30568.500 |
33560.700 |
|
|
|
|
|
|
long-term borrowings |
20.600 |
7.500 |
5.400 |
|
Short term borrowings |
2.000 |
129.300 |
299.900 |
|
Total borrowings |
22.600 |
136.800 |
305.300 |
|
Debt/Equity ratio |
0.001 |
0.004 |
0.009 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
64853.800 |
71353.000 |
74895.700 |
|
|
|
10.021 |
4.965 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
64853.800 |
71353.000 |
74895.700 |
|
Profit |
5048.600 |
4458.400 |
5210.900 |
|
|
7.78% |
6.25% |
6.96% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
2497.300 |
2837.400 |
3343.000
|
|
|
|
|
|
|
Total |
2497.300 |
2837.400 |
3343.000
|
|
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 |
Yes |
|
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 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2014 |
As on 31.03.2013 |
|
LONG TERM
BORROWINGS |
|
|
|
Interest-free sales tax deferral loans from state government |
5.400 |
7.500 |
|
|
|
|
|
Total |
5.400 |
7.500 |
LITIGATION DETAILS
|
Case Details |
|||||||
|
Bench:- Bombay |
|||||||
|
Presentation Date:- |
24.06.2014 |
||||||
|
Stamp No.: |
FAST/17294/2014 |
Filing Date:- |
01.07.2014 |
Reg. No.: |
FA/44/2015 |
Reg. Date: |
14.01.2015 |
|
|
|||||||
|
Petitioner: |
DEVIDAYAL STAINLESS STEEL INDUSTRIES |
Respondent:- |
M/S CROMPTON GREAVES LIMITED |
||||
|
Patn. Adv. |
Halai and Co (I1036) |
Resp. Adv.: |
MADHAVI TAVANANDI |
||||
|
District:- |
MUMBAI |
||||||
|
Bench:- |
SINGLE |
||||||
|
Status:- |
Pre-Admission |
||||||
|
Next Date:- |
07.04.2015 |
Stage:- |
FOR ADMISSION – FRESH [CIVIL SIDE MATTERS] |
||||
|
Last Coram:- |
ACCORDING TO SITTING LIST |
||||||
|
|
|||||||
|
Act :- |
C.P.C. – (Non – Interlocutory Order) |
||||||
AMALGAMATION
CG-ZIV Power Automation Solutions Ltd (CG-ZIV) and CG Energy Management Limited (CGEM) are wholly owned subsidiaries of the Company. For simplification of the shareholding structure and operational synergies, the Board of Directors at their Meeting held on 29 January 2014, approved the amalgamation of CG-ZIV and CGEM with the Company. The Amalgamation would be effective upon receipt of requisite approvals.
STATEMENT
OF STANDALONE UNAUDITED FINANCIAL RESULT FOR THE QUARTER AND SIX MONTHS ENDED
30TH SEPTEMBER, 2014
|
Sr. No |
Particulars |
Standalone |
|||
|
Quarter Ended |
Quarter Ended |
Six Months |
|||
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|||
|
Unaudited |
Unaudited |
Unaudited |
|||
|
1 |
Income From
Operations |
|
|
|
|
|
|
a. Net Sales/ Income from Operations (Net of Excise Duty) |
19234.800 |
19046.900 |
38281.700 |
|
|
|
b. Other Operating Income |
- |
-- |
- |
|
|
|
Total Income from
Operations (Net) |
19234.800 |
19046.900 |
38281.700 |
|
|
2 |
Expenditure |
|
|
|
|
|
|
a. Cost of material Consumed |
9087.700 |
8391.400 |
17479.100 |
|
|
|
b. Purchase of Stock-in trade |
4972.100 |
5829.300 |
10801.400 |
|
|
|
c. Changes in inventory of finished Goods, work- in-progress and Stock-in-trade |
32.300 |
(187.900) |
(155.600) |
|
|
|
d. Employees Benefit Expenses |
1302.800 |
1319.700 |
2622.500 |
|
|
|
e. Depreciation and Amortisation Expenses |
239.600 |
238.900 |
478.500 |
|
|
|
f. Other expenses |
2170.100 |
1984.000 |
4154.100 |
|
|
|
Total Expenses |
17804.600 |
17575.400 |
35380.000 |
|
|
3 |
Profit from
Operations before Other Income, Interest and Exceptional Items |
1430.200 |
1471.500 |
2901.700 |
|
|
4 |
Other Income |
288.200 |
202.500 |
490.700 |
|
|
5 |
Profit from
ordinary activities before finance cost & exceptional items |
1718.400 |
1674.000 |
3392.400 |
|
|
6 |
Finance Costs |
(38.400) |
(42.000) |
(80.400) |
|
|
7 |
Profit from
ordinary activities after finance costs & exceptional items |
1756.800 |
1716.000 |
3472.800 |
|
|
8 |
Exceptional items |
- |
-- |
- |
|
|
9 |
Profit from
ordinary activities before tax |
1756.800 |
1716.000 |
3472.800 |
|
|
10 |
Tax Expense |
497.200 |
450.400 |
947.600 |
|
|
|
- Income Tax |
|
|
|
|
|
|
- Deferred Tax |
|
|
|
|
|
11 |
Net Profit from
ordinary activity after tax |
1259.600 |
1265.600 |
2525.200 |
|
|
12 |
Extraordinary Items |
- |
-- |
- |
|
|
13 |
Net Profit After
Tax |
1259.600 |
1265.600 |
2525.200 |
|
|
14 |
Paid-up equity share capital (face value of Rs.10 per share) |
1253.500 |
1253.500 |
1253.500 |
|
|
15 |
Reserves excluding Revaluation Reserve as per balance sheet of previous accounting Year |
- |
-- |
- |
|
|
16 |
Earning Per Share (of Rs.10 each) (not annualized) |
- |
- |
- |
|
|
|
Basic EPS |
2.01 |
2.02 |
4.03 |
|
|
|
Diluted EPS |
2.01 |
2.02 |
4.03 |
|
|
A |
PARTICULARS OF
SHAREHOLDING |
|
|
|
|
|
17 |
Public Shareholding |
|
|
|
|
|
|
- No. of shares |
359295072 |
359295072 |
359295072 |
|
|
|
- Percentage of shareholding |
57.33 |
57.33 |
57.33 |
|
|
18 |
Promoter &
Promoter Group Shareholding |
|
|
|
|
|
|
a)
Pledged/Encumbered |
|
|
|
|
|
|
- No. of shares |
164257000 |
158413400 |
164257000 |
|
|
|
- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group) |
61.42 |
59.23 |
61.42 |
|
|
|
- Percentage of shareholding (as a % of the total share capital of the company) |
26.21 |
25.27 |
26.21 |
|
|
|
b) Non-encumbered |
|
|
|
|
|
|
- No. of shares |
103194070 |
109037670 |
103194070 |
|
|
|
- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group) |
38.58 |
40.77 |
38.58 |
|
|
|
- Percentage of shareholding (as a % of the total share capital of the company) |
16.46 |
17.40 |
16.46 |
|
|
|
Particulars |
3 months ended |
|
B |
INVESTOR
COMPLAINTS |
30.09.2014 |
|
|
Pending at the beginning of the quarter Received during the quarter Disposed of during the quarter Remaining unresolved at the end of the quarter |
Ni 2 2 Nil |
UNAUDITED SEGMENT – WISE REVENUE, RESULTS AND CAPITAL EMPLOYED
FOR THE QUARTER AND SIX MONTHS ENDED 30TH SEPTEMBER, 2014
(Rs. In Millions)
|
Particulars |
Quarter
Ended (
Unaudited) |
Quarter Ended (
Unaudited) |
Six
Months (
Unaudited) |
|
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|
a. Information about
Primary Business Segments |
|
|
|
|
1. Segment Revenue |
|
|
|
|
Power System |
7090.500 |
5915.900 |
13006.400 |
|
Consumer Product |
7430.900 |
8610.700 |
16041.600 |
|
Industrial System |
3864.700 |
3464.600 |
7329.300 |
|
Others |
944.000 |
1181.600 |
2125.600 |
|
Total |
19330.100 |
19172.800 |
38502.900 |
|
Less : Inter Segment Revenue |
95.300 |
125.900 |
221.200 |
|
Net
Sales |
19234.800 |
19046.900 |
38281.700 |
|
|
|
|
|
|
2.
Segment Result |
|
|
|
|
Power System |
594.300 |
472.000 |
1066.300 |
|
Consumer Product |
905.300 |
1087.100 |
1992.400 |
|
Industrial System |
414.700 |
303.800 |
718.500 |
|
Others |
(47.900) |
(42.700) |
(90.600) |
|
Total |
1866.400 |
1820.200 |
3686.600 |
|
Less : Interest |
(38.400) |
(42.000) |
(80.400) |
|
Other un-allocable expenditure net of un-allocable income |
148.000 |
146.200 |
294.200 |
|
Profit from ordinary
activities before tax |
1756.800 |
1716.000 |
3472.800 |
|
|
|
|
|
|
3. Capital Employed (Segment Assets-Segment
Liabilities) |
|
|
|
|
Power System |
11460.100 |
9432.800 |
11460.100 |
|
Consumer Product |
1009.700 |
884.900 |
1009.700 |
|
Industrial System |
3669.200 |
3708.000 |
3669.200 |
|
Others |
2290.500 |
2207.900 |
2290.500 |
|
Unallocable |
18466.900 |
19637.500 |
18466.900 |
|
Total |
36896.400 |
35871.100 |
36896.400 |
STANDALONE STATEMENT OF ASSETS AND LIABILITIES
|
Particulars |
As at 30.09.2014 |
|
|
|
Particulars |
|
|
A |
EQUITY AND LIABILITIES |
|
|
1 |
Shareholder’s Funds |
|
|
|
a) Share Capital |
1253.500 |
|
|
b) Reserves & Surplus |
24516.900 |
|
|
c) Money received against share warrants |
0.000 |
|
|
Sub Total- Shareholders funds |
35770.400 |
|
2 |
Share application money pending allotment |
0.000 |
|
3 |
Minority Interest |
0.000 |
|
4 |
Non-current liabilities |
|
|
|
(a) Long term borrowings |
5.400 |
|
|
(b) Other long term liabilities |
808.000 |
|
|
(c) Differed Tax |
266.400 |
|
|
(d) Long Term Borrowing |
451.400 |
|
|
Sub Total- Non Current Liabilities |
1531.200 |
|
5 |
Current liabilities |
|
|
|
(a) Short term borrowings |
309.100 |
|
|
(b) Trade Payables |
14069.400 |
|
|
(c) Other current liabilities |
3875.600 |
|
|
(d) Short term provisions |
1301.600 |
|
|
Sub Total- Current Liabilities |
19555.700 |
|
|
TOTAL-EQUITY AND LIABILITIES |
56857.300 |
|
B |
ASSETS |
|
|
1 |
Non-current assets |
|
|
|
(a) Fixed assets |
8096.600 |
|
|
(b) Long term loans and advances |
8181.400 |
|
|
(c)Non-Current Investment |
493.100 |
|
|
Sub-Total- Noncurrent assets |
16771.100 |
|
2 |
Current assets |
|
|
|
a) Current Investments |
7.700 |
|
|
b) Inventories |
5605.100 |
|
|
c) Trade Receivables |
20742.600 |
|
|
d) Cash and cash equivalents |
3242.800 |
|
|
(e) Short term loans and advances |
9820.700 |
|
|
(f) Other current assets |
667.300 |
|
|
Sub-Total- current assets |
40086.200 |
|
|
TOTAL ASSETS |
56857.300 |
NOTES ON
STANDALONE FINANCIAL RESULTS:
1. The above unaudited
standalone financial results have been reviewed by the Audit Committee and
approved by the Board of Directors at its meeting held on October 16, 2014. The
statutory auditors have carried out a limited review of the financials of the
Company as required under Clause 41 of the Listing Agreement and the related
report is being forwarded to the Stock Exchanges.
2. The Board of Directors at its meeting held on
October 16, 2014 has approved the Scheme of demerger of the Consumer Products
Business Unit of the Company into CG’s wholly owned subsidiary Crompton
Consumer Products Limited (CCPL) as recommended by the Committee of Directors
constituted for the purpose. The proposed Scheme will come into effect from the
Appointed Date, April 01, 2015, subject to receipt of all Regulatory approvals.
Upon the implementation of the proposed scheme, CG will hold 25% + 1 share in
CCPL and the balance will be held directly by the shareholders of Crompton
Greaves Limited.
3. The Board of Directors has also approved
entering into a definitive agreement for sale of a portion of its land at
Kanjurmarg, Mumbai admeasuring approximately 8 acres for an aggregate sum of
Rs. 302.26 crore.
4. The Company has declared an interim dividend
of Rs. 0.40 per share on 626,746,142 Equity Shares of Rs. 2 each for the
financial year 2014-15.
5. Figures of the previous quarters / year have
been regrouped and reclassified, wherever necessary.
INDEX CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
80015435 |
19/12/2013 * |
33,000,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, UNION BANK BHAVAN, 1ST FLOOR , VIDHAN BHAVAN MARG, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B93149649 |
* Date of charge modification
FIXED ASSETS:
· Freehold Land
· Leasehold Land
· Buildings
· Plant and Machinery
· Railway sidings
· Furniture and Fixtures
· Office Equipment’s
· Aircrafts
· Vehicles
· Goodwill
· Computer Software
· Technical Know – how
· Commercial rights
· Research and Development
PRESS RELEASE:
Ind-Ra Affirms
Crompton Greaves at ‘IND AA’/Stable
Ind-Ra-Mumbai-9 September 2014: India Ratings & Research
(Ind-Ra) has affirmed Crompton Greaves Limited’s (CGL) Long-Term Issuer Rating
at ‘IND AA’ with a Stable Outlook. A full list of rating actions is at the end
of this commentary.
Ind-Ra continues to take a consolidated view of CGL and its subsidiaries and
consider their investments in liquid mutual funds as debt. The affirmation is
led by CGL maintaining fairly stable EBITDA margins over 1QFY14-1QFY15 (year
end March) after successfully restructuring operations at its Michelin facility
in 3QFY13.
KEY RATING DRIVERS
Stable Operating Margins Post Recovery: CGL’s EBITDA margins have stabilized in the range of 4.5%-5.0% since 1QFY14. This is a significant recovery from the performance in 3QFY13 when a write off of the large non-recurring expenses associated with restructuring at the Michelin power transformer factory pulled margins down to 0.1%. The improved consolidated performance has been led by increased revenue contribution and higher EBIT margins in the consumer products division (11.7%-12.6% in 1QFY14-1QFY15). The power division has also reported operating profits since 1QFY14, albeit at low EBIT levels of 1.5%-4.5%. The industrial products division, however, reported flat revenue with EBIT margin declining to 6.8% in 1QFY15 from 8.3% in 1QFY14 due to weak demand amid sluggish economic conditions.
On a consolidated basis, CGL reported revenue of
INR134,805.8m in FY14 (FY13: 120,944.4m), EBITDA of INR6,819.7m (INR4,912.3m),
total adjusted debt of INR24,947.4m (INR21,135.0m), net leverage (net adjusted
debt/EBITDA) of 2.5x (2.2x) and EBITDA gross interest coverage of 5.0x
(5.1x).
Focus on Value-added Offerings: The
Company has successfully developed a 1,200kV transformer for a pilot project of
Power Grid Corporation of India Ltd. It is increasingly focusing on contracts for
end-to-end solutions in power transmission and distribution.
NEWS:-
CROMPTON
GREAVES BAGS $26 MN CONTRACT FROM INDONE
Crompton Greaves, an
Avantha group company, has bagged USD 26 million contract from Indonesia for
supplying power equipment.
Crompton Greaves, an Avantha group company, has bagged USD 26 million contract
from Indonesia for supplying power equipment.
"CG has sealed a deal with PT PLN (Perusahaan Listrik Negara) Indonesia, for the manufacture and supply of 37 units of power transformers," CG said
Valued at USD 26 million (about Rs 1560.000 Million ), the power transformers
will be installed across PT PLN's transmission network, in 36 different
substations in Sumatra, Java, Bali, Kalimantan and the Sulawesi islands of
Indonesia, the statement said.
This project is being funded by IBRD - World Bank, in collaboration with the Government of Indonesia, for the purpose of strengthening Indonesia's power networks.
The scope of the project includes designing, manufacturing, factory testing, site installation and pre- commissioning of the transformers over a period of 18 months.
PT PLN is the sole government-owned corporation in electricity generation, transmission and distribution in Indonesia and is one of the largest state-owned enterprises.
It has an installation base of 48 GW (48,000 MW) and plans to ramp up the electrification of Indonesia from the current 67 percent to 100 percent in the next decade, the statement added. Crompton Greave stock price On January 29, 2015, at 10:00 hrs Crompton Greaves was quoting at Rs 190.00, up Rs 0.45, or 0.24 percent. The 52-week high of the share was Rs 231.00 and the 52-week low was Rs 101.65.
The company's trailing 12-month (TTM) EPS was at Rs 8.20 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 23.17. The latest book value of the company is Rs 53.55 per share. At current value, the price-to-book value of the company is 3.55.
RBI allows up to 100% FII investment in Crompton Greaves
Foreign institutional
investors are now allowed to invest up to 100 percent of the paid up capital in
Crompton Greaves, the RBI said in a notification.
"Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios
Investors (RFPIs) can now invest up to 100 percent of the paid up capital of
Crompton Greaves Limited under the Portfolio Investment Scheme (PIS)," RBI
said in a release.
The decision follows passage of resolutions at company's board of directors’s
level and a special resolution by the shareholders, agreeing for enhancing the
limit for the purchase of its equity shares and convertible debentures by
FIIs/RFPIs.
FIIs held 15.93 percent shares in the company as of quarter ended September 30,
2014.
FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and
secondary capital markets in India through PIS.
The RBI monitors the ceilings on FII/NRI/PIO investments in Indian companies on
a daily basis and has fixed the cut-off points two percentage points lower than
the actual ceiling.
Crompton Greaves shares closed at Rs 178.55 a piece on the BSE Thursday, up 4.6
percent from the previous close.
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 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. 61.50 |
|
|
1 |
Rs. 93.12 |
|
Euro |
1 |
Rs. 69.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MTN |
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 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
YES |
|
--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.