CG announces Q4 results. Reports strong sales & solid order intake
Mumbai, May 24, 2013: Avantha Group Company CG reported its audited financial results for the 4th quarter and year ended March 31, 2013.
Consolidated Performance Highlights- 4th Quarter FY 2013
- Q4 FY13 Orders Received Rs. 2,983 crores, up by 32% over Q3 FY2013
- Q4 FY13 Revenue at Rs. 3,387 crores, up by 14% Q3 FY2013
- Net Profit at Rs. 25 crores for Q4 FY13, as compared to loss of Rs. 189 crores Q3 FY2013
- Consolidated order backlog of Rs. 9,126 cr as on March 31, 2013
Consolidated Performance Highlights- Financial Year 2013
- FY13 Orders Received (For Power and Industrial) Rs. 10,544 crores, up by 3% over last year
- FY13 Revenue at Rs. 12,094 crores, up by 8% over last year
- CG has declared a final dividend of 20 % amounting to Rs 0.40 per share for the financial year ended 31st March 2013.
Despite tough market conditions CG recorded a strong order intake and sales performance. In India, orders were driven by Industrial and Consumer activities, reporting growth of 20% and 22% respectively. International operations benefited from the successful market penetration in fast growing geographies like Middle East and Africa (Order intake Rs. 1,753 Cr, +230% y-o-y) and Latin America (Order intake Rs. 367 cr, +190% y-o-y).
Profitability of the business was impacted by restructuring of Power Transformers activity in Europe. The restructuring of Belgium operations has been completed during the year. The new European manufacturing platform in Hungary was scaled up as planned.
CEO and Managing Director, Laurent Demortier of Avantha Group Company CG said “2012-13 has been a year of transition for CG. The growth has enabled necessary structural changes to face new market conditions. Several new high-value adding activities have been launched (UHV, Power electronics, automation). We are now focused on penetrating high growth potential geographies by leveraging our cost effective manufacturing hub in India.”
About Avantha Group Company CG
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.
For more information on CG, please visit: www.cgglobal.com.
The US$4bn Avantha Group is one of India`s leading business conglomerates. Its successful entities include BILT, Crompton Greaves, The Global Green Company, Avantha Power & Infrastructure, Solaris ChemTech Industries, Biltech Building Elements, Salient Business Solutions and Avantha Technologies. With a global footprint, the Group operates in 90 countries with more than 25,000 employees worldwide. The Group has business interests in diverse areas including power transmission and distribution equipment and services, paper and pulp, energy and infrastructure, food processing, farm forestry, insurance, chemicals, IT and ITES. 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.
For more information on Avantha, please visit www.avanthagroup.com.
For further information, please contact:
Ms. Paula Sengupta
Global Head – Corp. Comms.
CG (Crompton Greaves Limited)
CG House, 1st floor
Worli, Mumbai 400 030, India
Mrs. Shravani Dang
Group Head - Corporate Communications
Vice President - Avantha Group
5th Floor, Tower C, First India Place,
Gurgaon-122002, Haryana, India
|T: +91 22 24237516 / 67558771
|T : +91 124 4099436