23rd Jul 2012 07:02
PART I
STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH
JUNE, 2012 ` in crore Sr. Particulars Quarter ended Year ended No. 30.06.2012 31.03.2012 30.06.2011 31.03.2012 Unaudited Audited Unaudited Audited 1 Income from operations Net sales / Income from 1659.17 1,940.62 1468.83 6485.38 operations (Net of excise duty) Net Sales / Income from 1659.17 1940.62 1468.83 6485.38 operations 2 Expenses (a) Cost of materials 888.60 996.66 830.96 3467.62 consumed (b) Purchases of 421.32 411.05 289.65 1265.47 stock-in-trade
(c) Changes in inventories of (88.12) 41.05 (79.43) (7.39)
finished goods, work-in-progress and stock-in-trade (d) Employee benefits 101.42 91.64 91.81 363.59 (e) Depreciation and 17.05 18.52 28.58 90.71 amortisation (f) Other expenses 177.59 202.89 149.18 675.41 Total expenses 1517.86 1761.81 1310.75 5855.41 3 Profit from operations before other income and finance 141.31 178.81 158.08 629.97 costs 4 Other income 18.07 4.42 15.66 50.41
5 Profit before finance costs 159.38 183.23 173.74 680.38
6 Finance costs (2.40) 4.56 1.43 3.68 7 Profit from ordinary 161.78 178.67 172.31 676.70 activities after finance costs before tax 8 Tax expenses 41.51 41.80 43.29 171.84 9 Net profit from ordinary 120.27 136.87 129.02 504.86 activities after tax 10 Paid-up equity share capital
(Face value of equity share 128.30 128.30 128.30 128.30
of ` 2 each) 11 Reserves excluding 2558.56 Revaluation Reserve as per balance sheet of previous accounting year
12 Earnings Per Share (of ` 2 1.87 2.13 2.01 7.87
each) Basic and diluted (Not annualised) PART II SELECT INFORMATION FOR THE QUARTER ENDED 30TH JUNE, 2012 Sr. Particulars Quarter ended Year ended No. 30.06.2012 31.03.2012 30.06.2011 31.03.2012 A PARTICULARS OF SHAREHOLDING 1 Public shareholding * - Number of shares 374040466 374040466 378964895 374040466
- Percentage of shareholding 58.31 58.31 59.08 58.31
2 Promoters and promoter group Shareholding a) Pledged / Encumbered - Number of shares 13855300 13855300 11630500 13855300 - Percentage of shares 5.18 5.18 4.43 5.18 (as a percentage of the total shareholding of promoter and promoter group) - Percentage of shares 2.16 2.16 1.81 2.16 (as a percentage of the total share capital of the Company) b) Non-encumbered - Number of shares 253595770 253595770 250896141 253595770 - Percentage of shares 94.82 94.82 95.57 94.82 (as a percentage of the total shareholding of promoter and promoter group) - Percentage of shares 39.53 39.53 39.11 39.53 (as a percentage of the total share capital of the Company) * Public Shareholding includes shares held by custodians of Global Depository Receipts issued. Particulras Quarter ended B INVESTOR COMPLAINTS 30.06.2012 Pending at the beginning of - the quarter Received during the quarter 4 Disposed off during the 4 quarter Remaining unresolved at the - end of the quarter
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 20th July, 2012. 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 Company has changed its accounting policy effective April 1, 2012 in
respect of goodwill arising on acquisition of business. The company would be doing an annual impairment testing for goodwill instead of the current practice of amortization. The Management believes, this change in accounting policy aligns well with leading international practices and reflects enduring benefits to be derived from goodwill arising on acquisitions.
3. The Company has declared an interim dividend of ` 0.40 per share on
641,491,536 Equity Shares of ` 2 each for the financial year 2012-13.
4. Figures of the previous quarters / year have been regrouped and
reclassified, wherever necessary.
Notice is hereby given pursuant to Section 154 of the Companies Act, 1956 that the Book Closure from Saturday, 28th July, 2012 to Friday, 3rd August, 2012 which is fixed for the Annual General Meeting to be held on Friday, 3rd August, 2012 is also to be considered for payment of this interim dividend and the date of payment will be Wednesday, 8th August, 2012.
For Crompton Greaves Limited
Place: Mumbai Laurent Demortier
Date: 20th July, 2012 CEO & Managing Director
STATEMENT OF CONSOLIDATED UNAUDITED RESULTS FOR THE QUARTER ENDED 30TH JUNE,
2012 ` in crore Sr. Particulars Quarter ended Year ended No. 30.06.2012 31.03.2012 30.06.2011 31.03.2012 Unaudited Audited Unaudited Audited 1 Income from operations Net Sales / Income from 2811.14 3077.36 2437.74 11248.58 operations (Net of excise duty) Net Sales / Income from 2811.14 3077.36 2437.74 11248.58 operations 2 Expenses (a) Cost of materials consumed 1751.51 1669.55 1610.37 6443.31 (b) Purchases of 421.32 411.06 289.65 1265.47 stock-in-trade (c) Changes in inventories of finished goods, work-in-progress (297.23) 26.64 (272.07) (23.79) and stock-in-trade (d) Employee benefits 420.87 393.79 322.05 1466.21 (e) Depreciation and 46.61 63.89 60.77 259.96 amortisation (f) Other expenses 347.92 363.14 305.88 1293.74 Total expenses 2691.00 2928.07 2316.65 10704.90 3 Profit from operations before other income and finance costs 120.14 149.29 121.09 543.68 4 Other income 19.19 0.31 15.13 52.40 5 Profit before finance costs 139.33 149.60 136.22 596.08 6 Finance costs 9.89 13.94 10.95 46.34 7 Profit from ordinary 129.44 135.66 125.27 549.74 activities after finance costs before tax 8 Tax expenses 44.50 39.63 47.51 182.14 9 Net profit from ordinary 84.94 96.03 77.76 367.60 activities after tax 10 Share of profit in associates 0.94 4.01 1.78 5.34 (net) 11 Minority interest 0.02 0.28 (0.07) 0.65 12 Net profit after 85.90 100.32 79.47 373.59 taxes,minority interest and share of profit of associates (net) 13 Paid-up equity share capital 128.30 128.30 128.30 128.30 (Face value of equity share of ` 2 each) 14 Reserves excluding Revaluation 3468.62 Reserve as per the balance sheet of previous accounting year 15 Earnings Per Share (of ` 2 1.34 1.56 1.24 5.82 each) Basic and diluted (Not annualised) CONSOLIDATED SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER ENDED 30TH JUNE, 2012 ` in crore Sr Particulars Quarter ended Year ended No. 30.06.2012 31.03.2012 30.06.2011 31.03.2012 Unaudited Audited Unaudited Audited 1. Segment Revenue (net of excise duty): (a) Power Systems 1762.00 1968.32 1516.60 7314.86 (b) Consumer Products 652.07 606.53 543.67 2133.62 (c) Industrial Systems 405.05 500.08 379.74 1820.24 (d) Others 5.71 9.44 5.72 25.50 Total 2824.83 3084.37 2445.73 11294.22 Less: Inter Segment Revenue 13.69 7.01 7.99 45.64 Net Sales / Income from 2811.14 3077.36 2437.74 11248.58 operations 2. Segment Results: [Profit before tax and finance costs from each segment] (a) Power Systems 46.66 54.12 40.08 239.38 (b) Consumer Products 83.40 73.98 75.37 262.88 (c) Industrial Systems 36.47 54.20 50.85 210.28 (d) Others 1.69 1.22 1.14 3.76 Total 168.22 183.52 167.44 716.30 Less: (i) Finance costs 9.89 13.94 10.95 46.34 (ii) Other un-allocable expenditure net of un-allocable income 28.89 33.92 31.22 120.22 Profit from Ordinary Activities 129.44 135.66 125.27 549.74 before tax 3. Capital Employed: (Segment Assets - Segment Liabilities) (a) Power Systems 2902.63 2569.46 2347.91 2569.46
Notes on consolidated financial results:
1. The above unaudited consolidated financial results have been reviewed by
the Audit Committee and approved by the Board of Directors at its meeting
held on 20th July, 2012.
2. The Company has changed its accounting policy effective April 1, 2012 in
respect of goodwill arising on acquisition of business. The company would be doing an annual impairment testing for goodwill instead of the current practice of amortization. The Management believes, this change in accounting policy aligns well with leading international practices and reflects enduring benefits to be derived from goodwill arising on acquisitions. Had the Company not changed the accounting policy as above, depreciation and amortization would have been higher by ` 18.82 crore and net profit would have been lower by the same amount.
3. During the quarter, the Company has proposed that its Belgium operations be
optimized for cost advantages, through administrative cost reduction measures and a right sizing of its workforce to create a globally competitive and sustainable business model in Europe. The company has begun a process of consultation with Works Council and its employees in Belgium and will recognise the liability after reaching on consensus from the said authority and employees.
4. Figures of the previous quarters / year have been regrouped and
reclassified, wherever necessary.
For Crompton Greaves Limited
Place: Mumbai Laurent Demortier
Date: 20th July, 2012 CEO & Managing Director
Related Shares:
CGVD.L