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Crompton Greaves Consumer Electricals Limited Annual Report 2022

May 27, 2022

60950_rns_2022-05-27_c85b3bd6-dde6-4878-b580-768dd8344f64.pdf

Annual Report

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Crompton Greaves Consumer Electricals Limited Registered & Corporate Office: Tower 3, 1st Floor, East Wing, Equinox Business Park, LBS Marg, Kurla (West), Mumbai 400 070. India Tel: +9122 6167 8499 F: +91 22 6167 8383 W: www.crompton.co.in. CIN: L319D0MH2015PLC262254

Date: May 27, 2022

To, To,
BSE Limited ("BSE"), National Stock Exchange of India Limited
Corporate Relationship Department.2nd ("NSE"),
Floor, New Trading Ring, "Exchange Plaza", 5th Floor, Plot No. C/1, G Block,
P.J. Towers, Dalal Street, Bandra-Kurla Complex,
Mumbai -400 001 Sandra (East), Mumbai ,. 400 051
BSE Scrip Code: 539876 NSE Symbol: CROMPTON
ISIN: INE299U01018 ISIN: INE299U01018
Our Reference: \ °i /2022-23 Our Reference:�2022-23

Dear Sir/ Madam,

Sub: Outcome of Meeting of the Board of Directors held on May 27, 2022

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the "Listing Regulations") read with Circular (Ref No. CIR/CFD/F AC/6212016 dated July 05, 2016 ) issued by SEBI, we hereby inform you that the Board of Directors in their Meeting held today i.e. May 27, 2022 which commenced at.2.:30 P.M. (1ST) and concluded at�P.M. (1ST) have interalia, considered, approved and taken on record the following:

    1. Statement showing the Audited Financial Results (Standalone and Consolidated) for the quarter and financial year erided March 31, 2022, along with Statement of Assets and Liabilities as at financial year ended March 31, 2022 (Standalone and Consolidated);
    1. Auditors Report on the Audited Financial Results (Standalone and Consolidated);
    1. Re-commended payment of Dividend of Rs. 2.50 per share for the financial year ended March 31, 2022 to the shareholders. The dividend, if approved, will be paid to theshareholders within a period of 30 days from the date of Annual General Meeting;
    1. Convening of the 8 th Annual General Meeting of the Company through Video Conferencing on Friday, July 22, 2022.

In terms of second proviso to Regulation 33(3)(d) of the Listing Regulations, we confirm that the Statutory Auditors have issued an Audit Report with Unmodified Opinion on the Annual Audited Financial Results of the Company (Standalone and Consolidated) for the Financial year ended March 31, 2022.

An extract of the aforesaid results would be published in the newspapers in accordance with the Listing Regulations.

We enclose the following:

    1. Audited Financial Results (Standalone and Consolidated) for quarter and year ended March 31, 2022;
    1. Auditors Report on the Standalone and Consolidated Financial Results for the year ended March 31, 2022;
    1. Press-release on the Audited Financial Results for the year ended March 31, 2022.

This is for your information and you are requested to bring this to the notice of your constituents.

Thanking You For Crompton Greaves Consumer Electricals Limited

��

Pragya Kaul Company Secretary & Compliance Officer Encl: A/a

MSKA 8: Associates Chartered Accountants

HO 602, Floor 6, Raheja Titanium Western Express Highway, Geetanjali Railway Colony, Ram Nagar, Goregaon (E) Mumbai 400063, INDIA Tel: +91 22 6831 1600

Independent Auditor's Report on Quarterly and Year End Standalone Financial Results of the Company pursuant to the Regulation 33 and Regulation 52 read with Regulation 63(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To the Board of Directors of Crompton Greaves Consumer Electricals Limited

Report on the Audit of Standalone Financial Results

Opinion

We have audited the accompanying Standalone Financial Results of Crompton Greaves Consumer Electricals Limited (hereinafter referred to as 'the Company') for the quarter and year ended March 31, 2022 ('the Statement'), attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 and Regulation 52 read with Regulation 63(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended ('the Listing Regulations').

In our opinion and to the best of our information and according to the explanations given to us, the Statement:

  • is presented in accordance with the requirements of Regulation 33 and Regulation 52 of the Listing Regulations; and
  • gives a true and fair view in conformity with the applicable accounting standards prescribed under Section 133 of the Companies Act, 2013 ("the Act") read with Companies (Indian Accounting Standards) Rules, 2015, as amended, and other accounting principles generally accepted in India, of net profit and other comprehensive income and other financial information of the Company for the quarter and year ended March 31, 2022.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Standalone Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics.

We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion.

Head Office: 602, Floor 6, Raheja Titanium, Western Express Highway, Geetanjali Railway Colony, Ram Nagar, Goregaon (E), Mumbai 400063, lNDIA, Tel: +91 22 6831 1600 Ahmedabad I Bengaluru I Chennai I Goa I Gurugram I Hyderabad I Kochi I Kolkata I Mumbai I Pune www.mska.in

MSKA & Associates

Chartered Accountants

Board of Directors' Responsibilities for the Statement

The Statement, which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared on the basis of the Standalone Financial Statements. The Company's Board of Directors is responsible for the preparation and presentation of this Statement that gives a true and fair view of the net profit and other comprehensive income in accordance with the Indian Accounting Standards prescribed under Section 133 of the Act read with Companies (Indian Accounting Standards) Rules, 2015, as amended and other accounting principles generally accepted in India and in compliance with the Listing Regulations. The Board of Directors of the Company is responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Statement, the Board of Directors of the Company is responsible for assessing the ability of the Company to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors of the Company is also responsible for overseeing the financial reporting process of the Company.

Auditor's Responsibilities for the Audit of the Statement

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Statement.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

  • Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
  • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion on whether the Company has adequate internal financial controls in place with reference to financial statements and the operating effectiveness of such controls.
  • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.

Head Office: 602, Floor 6, Raheja Titanium, Western Express Highway, Geetanjali Railway Colony, Ram Nagar, Goregaon (E), Mumbai •100063, INDIA, Tel: +91 22 6831 1600 Ahmedabad I Bengaluru I Chennai I Goa I Gurugram I Hyderabad I Kechi I Kolkata I Mumbai I Pune �!!!!!�Ill. www.mska.in

MSKA & Associates

Chartered Accountants

  • Conclude on the appropriateness of the Board of Director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
  • Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance of the Company, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other Matters

  • The Statement included the results for the quarter ended March 31, 2022 being the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" which were subjected to limited review by us.
  • The Standalone Ind AS Financial Statements of the Company for the quarter and year ended March 31, 2021, were audited by another auditor whose report dated May 21, 2021 expressed an unmodified opinion on those statements.

Our opinion is not modified in respect of the above matters.

For M S KA & Associates Chartered Accountants ICAI Firm Registration No.105047W

Srividya Vaidison Partner Membership No.: 207132 UDIN: 22207132AJSKVN7974

Place: Mumbai Date: May 27,2022

Crompton Greaves Consumer Electricals Limited Registered & Corporate Office: Tower 3, 1 st Floor, East Wing, Equinox Business Par1<, LBS Marg, Kurla (West), Mumbai - 400 070.lndia T: +91 22 6167 8499 F: +91 22 6167 8383 W: www.crompton.co.ln CIN: L31900MH2015PLC262254

STATEMENT OF STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2022

(f crore)
Quarter Ended Year Ended
Sr. 31.03.2022 31.12.2021 31.03.2021 31.03.2022 31.03.2021
No. Particulars Audited Unaudited Audited Audited Audited
(refer note 7) (refer note 7)
1 Income
(a) Reenue from operations 1,532.05 1,410.19 1,515.26 5,373.20 4,749.95
(b) Other income 18.02 13.75 20.34 79.90 75.63
Total income 1,550.07 1,423.94 1,535.60 5,453.10 4,825.58
2 Expenses
(a)Cost of materials consumed 358.00 302.31 355.28 1,193.91 985.44
(b)Purchases of stock-in-trade 734.09 593.38 817.53 2,456.65 2,283.20
(c)Changes in im.entories of finished
goods, stock-in-trade and work-in-progress (15.73) 67.77 (123.44) 39.45 (38.20)
Employee benefits expense(d) 83.51 94.13 92.00 362.39 336.58
(e)Finance costs 10.55 6.67 10.44 35.31 42.91
Depreciation and amortisation expense(f) 14.49 10.17 7.16 42.29 29.69
(g)Other expenses 149.87 150.96 149.06 559.95 478.24
Total expenses 1,334.78 1,225.39 1,308.03 4,689.95 4,117.86
3 Profit before tax (1-2) 215.29 198.55 227.57 763.15 707.72
4 Tax expense
a) Current tax 11.98 53.45 59.78 156.27 188.05
b) Adjustment of tax relating to earlier periods 3.97 - (76.69) 3.97 (76.69)
c) Deferred tax 17.58 (3.02) (2.04) 9.43 (8.38)
5 Profit for the period/year (3-4) 181.76 148.12 246.52 593.48 604.74
6 Other comprehensive income/ (loss)
(i) Items that will not be reclassified to profit or loss
- Remeasurements gain on defined benefit plans 0.55 0.73 5.09 2.74 2.93
(ii) Income tax relating to items that will not be
reclassified to profit or loss (0.15) (0.18) (1.28) (0.69) (0.74)
Other comprehensive income / (loss) 0.40 0.55 3.81 2.05 2.19
7 Total comprehensive income (5+6) 182.16 148.67 250.33 595.53 606.93
8 Paid-up Equity share capital of� 2 each 126.68 125.61 125.54 126.68 125.54
9 Other Equity 2,328.98 1,793.45
10 Earnings Per Share (of� 2 each) (Not annualised)*
(a) Basic (in �) 2.89* 2.36* 3.93* 9.45 9.64
(b) Diluted (in �) 2.88* 2.34* 3.90* 9.41 9.56

Crompton Greaves Consumer Electricals Limited Registered & Corporate Office: Tower 3, 1 st Floor, East Wing, Equinox Business Park, LBS Marg, Kurla (West), Mumbai - 400 070.lndia T: +91 22 6167 8499 F: +91 22 6167 8383 W: l'IW'I.Crompton.co.I11 CIN: L31900MH2015PLC262254

STANDALONE SEGMENT-'MSE REVENUE, RESULTS, ASSETS AND LIABILITIES FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2022

(f crore)
Quarter Ended Year Ended
Sr. Particulars 31.03.202231.12.2021 31.03.2021 31.03.2022 31.03.2021
No. Audited Unaudited Audited Audited Audited
(refer note 7) (refer note 7)
1 Segment Revenue
a) Electric Consumer Durables 1,230.90 1,099.26 1,193.00 4,311.00 3,757.13
b) Lighting Products 301.15 310.93 322.26 1,062.20 992.82
To tal 1,532.05 1,410.19 1,515.26 5,373.20 4,749.95
Total Income from operations 1,532.05 1,410.19 1,515.26 5,373.20 4,749.95
2 Segment Results:
(Profit before tax and finance costs from each segment)
a) Electric Consumer Durables 227.94 213.02 216.32 826.70 739.22
b) Lighting Products 34.32 32.59 49.63 116.06 116.14
Total 262.26 245.61 265.95 942.76 855.36
Less: (i)Finance costs 10.55 6.67 10.44 35.31 42.91
(ii) Other un-allocable expenditure net of
un-allocated income 36.42 40.39 27.94 144.30 104.73
Profit from ordinary activities before tax 215.29 198.55 227.57 763.15 707.72
3 Segment Assets
a) Electric Consumer Durables 961.74 896.74 911.22 961.74 911.22
b) Lighting Products 405.59 387.90 368.08 405.59 368.08
c) Unallocable 3,958.77 2,291.87 2,264.69 3,958.77 2,264.69
Total Segment Assets 5,326.10 3,576.51 3,543.99 5,326.10 3,543.99
4 Segment Liabilities
a) Electric Consumer Durables 1,039.96 768.81 688.02 1,039.96 688.02
b) Lighting Products 371.94 379.64 355.19 371.94 355.19
c) Unallocable 1,458.54 212.63 581.79 1,458.54 581.79
Total Segment Liablllties 2,870.44 1,361.08 1,625.00 2,870.44 1,625.00

Crompton Greaves Consumer Electricals Limited Registered & Corporate Office: Tower 3, 1" Floor, East Wing, Equinox Business Park, LBS Marg, Kur1a (West), Mumbai - 400 070.lndia T: +91 22 6167 8499 F: +91 22 6167 8383 W: WWW cromp!on.co In CIN: L31900MH2015PLC262254

(f crore)
Asat Asat
Particulars 31.03.2022 31.03.2021
Audited Audited
A ASSETS
1 Non-current A9118ts:
(a) Property, plant and equipment 215.20 97.43
(b) Capital work-in-progress 7.50 10.86
(c) Right to use assets 69.35 35.33
779.41 779.41
(d) GoodwBI 35.03 2.82
(e) Other intangible assets
(I) Financial assets
(i) lm.estments 1,407.17 14.20
(ii) Others 12.02 11.39
(g) Deferred tax assets (net) 48.14 58.26
(h) Non-current tax assets (net) 13.83 2.03
(i) Other non-current assets 29.94 20.09
Sub-total - Non-current Assets 2,617.59 1,031.82
2 Current Assets
(a) ln1.entories 511.35 517.77
(b) Financial assets
(i) lm.estments 610.65 761.07
(ii) Trade receiwbles 512.53 452.36
(iii) Cash and cash equiwlents 170.09 252.99
(iv) Bank balances other than (iii) abo1.e 733.69 341.53
(vj Others 14.60 8.38
(c) Current tax asset (net) 22.00 18.02
(d) Other current assets 133.60 160.05
Sub-total - Current Assets 2,708.51 2,512.17
Total -Assets 5,326.10 3,543.99
B EQUITY AND LIABILITIES
1 Equity
(a) Equity Share capital 126.68 125.54
(b) Other equity 2,328.98 1,793.45
2,456.66 1,818.99
Sub-total -Equity
2 Liabilities
Non-current Liabilities:
(a) Financial liabilities -
(i) Borrowings 298.79
M Lease Liabilities 43.54 23.88
(b) Pro\isions 109.55 112.40
Sub-total - Non-current Liabilities 1S3,09 43S.07
Current Liabilities
(a) Financial liabilities
(i) Borrowings 1,555.25 180.00
M Lease Liabilities 33.63 15.45
(iii) Trade payables
(a) Due to micro and small enterprises 109.99 44.61
(b) Due to creditors other than micro and small enterprises 750.36 746.44
(iv) Other financial liabBities 39.05 58.11
115.35 48.44
(b) Other current liabilities 113.72 96.88
(c) Pro�sions
Sub-total - Current Liabilities 2,717.35 1,189.93
Total Liabilities 2,870.44 1,625.00
Total - Equitv and Lia blllties 5,326.10 3,543.99

STANDALONE STATEMENT OF ASSETS AND LIABILITIES

Crompton Greaves Consumer Electricals Limited Registered & Corporate Office: Tower 3, 1 st Floor, East Wing, Equinox Business Park, LBS Marg, Kur1a (West), Mumbai - 400 070.lndia T: +91 22 6167 8499 F: +91 22 6167 8383 W: VNIW Crompton.co.In CIN: L31900MH2015PLC 262254

STANDALONE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH, 2022

, crore
Particulars 2021-22 2020-21
Audited Audited
(A] CASH FLOWS FROM OPERATING ACTIVITIES
Profit before tax 763.15 707.72
Adjustments for:
Depreciation and amortisation expense 42.29 29.69
Finance Cost 35.31 42.91
Loss on sale of property, plant and equipment 0.14 0.16
Share-based Payments to employee 37.76 25.17
Net gain on sale/ fair 10luation of im.estments (36.37) (43.48)
Interest income (28.12) (31.15)
Di'Adend from Subsidiaries (11.86) -
Unrealised exchange (gain) / loss (net) 1.12 (3.21)
40.27 20.09
Cash Generated from operations before working capital changes 803.42 727.81
Adjustments for
(Increase) I Decrease in trade and other recei1.0blesDecrease I (Increase) in im.entories (56.94)6.42 (49.14)(54.16)
Increase / (Decrease) in trade and other payables 136.58 203.28
Increase/ (Decrease) in pro'Asions 16.73 39.72
102.79 139.70
Cash generated from operations 906.21 867.51
Taxes paid (net of refunds) {176.02) (52.59)
Net cash generated from I ( used In) operating activities [A] 730.19 814.92
[BJ CASH FLOWS FROM INVESTING ACTIVITIES
Add: Inflows from Investing activities
Interest recei\ed 36.63 26.50-
Di'Adend from Subsidiaries 11.86 0.41
Sale of property, plant and equipment 0.5649.05 26.91
Less: Outflows from Investing activities
-
lm.estment in subsidiariesPurchase / (Sale) of current im.estments (net) 1,392.97(186.80) 178.02
Increase in other bank balances and tenn deposits 392.16 317.44
Purchase of property, plant and equipment and intangible assets 171.15 20.18
1,769.48 515.64
Net Cash (used in)/ generated from Investing activities [BJ (1,720.43) (488.73)
(CJ CASH FLOWS FROM FINANCING ACTIVITIESAdd: Inflows from financing activities
Proceeds from issue of equity shares 60.33 7.27
Proceeds from issue of debentures - 300.00
Proceeds from short-tenn borrowings (net) 1,406.90 -
1,467.23 307.27
Less: Outflows from financing activities
Payment of di'Adend including di'Adend distribution tax 156.35 187.39
Repayment of debentures 330.00 170.00
Repayment of lease liability 23.01 11.90
Interest paid 50.53 34.15
559.89 403.44
Net Cash generated from / (used i n) financing activities 907.34 (96.17)
(CJ
I Net (decrease) I increase in cash and cash equivalents(A+B+ C) II (82.90)1 230.021

Cash and cash equivalents at beginning of the year Cash a nd cash equivalents at end of the year

Net increase/ (decrease) in cash and cash equivalents (c = b-a)

252.99 22.97 170.09 252.99 (82.90) 230.02

Crompton Greaves Consumer Electricals Limited Registered & Corporate Office: Tower 3, 1 st Floor, East Wing, Equinox Business Park, LBS Marg, Kurla (West), Mumbai - 400 070.lndia T: +91 22 6167 8499 F: +91 22 6167 8383 W: WvM.crompcon.co.ln CIN: L31900MH2015PLC262254

Notes on Standalone financial results:

1) The standalone financial results have been reviewed by the Audit Committee and approved by the Board of Directors on 27th May, 2022.

2) Acquisition of Butterfly Gandhimathi Appliances Limited ("BGMAL")

  • a) On 22nd February, 2022, a Share Purchase Agreement ("SPA") was entered amongst the Company, Butterfly Gandhimathi Appliances Limited ("BGMAL"), its Promoters and certain members of the Promoter group of BGMAL for the sale of 55% of the issued and paid-up equity share capital of BGMAL. Consequent to the acquisition of 55% of the issued and paid-up equity share capital of BGMAL, the Company has become the Promoter and Holding Company of BGMAL with effect from 30th March, 2022. In accordance with regulations 3(1) and 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulations, 2011, a Public Announcement regarding the mandatory Open Offer was made by the Company on 22nd February, 2022 for acquisition of upto 26% of the voting share capital of BGMAL from its public shareholders.
  • b) The Draft Letter of Open Offer was filed by the Company with the Securities & Exchange Board of India ("SEBI") on 04th March, 2022 and SEBI has given its final observations on 10th May, 2022. Pursuant to this, the Company has dispatched the letter of offer to the public shareholders of BGMAL. The tendering period for the same is from 23rd May, 2022 to 3 rd June, 2022.
  • c) The Company has raised debt funds of� 1,155.73 crores to part fund the acquisition of BGMAL.
  • 3) The listed secured Non-Convertible Debentures of the Company aggregating to� 150 crores as on 31st March, 2022 are secured by charge on Company's certain properties and charge on 'Crompton' Brand and Registered Trademarks. The asset cover as on 31st March, 2022 exceeds hundred percent of the principal amount.
  • 4) The Board of Directors have recommended a dividend of� 2.50 /- (Rupees Two and paisa Fifty) per equity share of the face value of� 2 /- each for the financial year ended 3P1 March, 2022.

Crompton Greaves Consumer Electricals Limited Registered & Corporate Office: T ower 3, 1•1 Floor, East Wing, Equinox Business Park, LBS Marg, Kurla (West), Mumbai - 400 070.lndia T: +91 22 6167 8499 F: +91 22 6167 8383 W: www.cmmpton.co.in CIN: L31900MH2015PLC262254

5) Additional disclosures as per Clause 52(4) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirement) Regulations, 2015:

Sr. Quarter Ended Year Ended
No. Particulars 31.03.2022 31.12.2021 31.03.2021 31.03.2022 31.03.2021
(a) Outstanding Non- Comertlble Debentures � In crores) 150.00 150.00 480.00 150.00 480.00
(b) Debenture Redemption Reser.e (a!' In crores) 75.00 75.00 75.00 75.00
(c) Securities Premium (a!'" In crores) 144.87 33.30 24.01 144.87 24.01
(d) Net Worth (a!' In crores) 2,455.66 2,215.43 1,918.99 2,455.66 1,918.99
(e) Net Profit after Tax (� In crores) 181.76 148.12 246.52 593.48 604.74
(f) Basic Earnings per share On a!') 2.89* 2.36* 3.93* 9.45 9.64
(g) Diluted Earnings per share (in f) 2.88* 2.34* 3.90* 9.41 9.56
(h) Debt-Equity Ratio 0.63 0.07 0.25 0.63 0.25
[Total Debt/ Equity]
(i) Long term Debt to working capital (in times) 0.10 0.11 0.32 0.10 0.32
(Non current Borrowings + current Maturities of long term debt)/ Net
working capital excl. current Borrowings]
0) Total Debts to Total Assets Ratio (in times) 0.29 0.04 0.14 0.29 0.14
[(Short term Debt+ Long term debt)/ Total Assets]
(k) Debt SeNce Cowrage Ratio (in times) 1.29* 0.49* 1.39* 3.62 3.18
[ Profit After Tax + Interest + Depreciation/
(Finance Cost + Repayments made during the year)]
(I) Interest SeNce CO\erage Ratio On times) 22.78· 32.29' 23.48* 23.81 18.19
[(Profit Before Tax+ Interest+ Depreciation)/Finance Cost]
(m) Current ratio On times) 2.33 2.17 2.49 2.33 2.49
(Current Assets/ Current liabilities excl. current Borrowings)
(n) Bad Debts to Account receiwble ratio (in % ) 1.00% - 3.00% 1.00% 3.00%
(Bad debts/ Trade receiwbles)
(o) Current Liability ratio (in times) 0.40 0.84 0.62 0.40 0.62
(Current liabilities excl. current borrowings/ Total Liabilities)
(p) Debtors Tumowr On times) 3.18* 2.90* 3.22* 11.14 10.09
[(Sale of Products and Ser'-!ces/ A1.g. Trade Receiwbles))
(q) lmentory Turnowr (in times) 2.09* 1.94* 2.14* 7.17 6.58
[(Cost of goods sold/ A-.g. lnwntory)]
(r) Operating Margin (in %) 14.51% 14.30% 14.84% 14.16% 14.84%
[(Profit before Depreciation, Interest, Tax and Exceptional items)/ Sale
of Products and Ser'-!ces]
(s) Net Profit Margin (in %) 11.73% 10.40% 16.05% 10.88% 12.53%
(Profit after tax/ Sale of Products and Ser'-lces)
(t) Return on equity On %) 8.31%* 7.17%* 14.56%' 27.13% 35.71%
[Net Profit after Taxes/ A.g. Shareholder's Equity]
(u) Trade Payables Turnowr ratio 1.30• 1.24• 1.43• 4.47 4.39
[Net Credit Purchases/ A-.g. Accounts payables]
M Net Capital Tumowr ratio 1.00· 1.06' 1.02• 3.53 3.21
[Net Sales/ Working Capital]
(w) Return on Capital Employed (in %) 12.66%' 7.68%* 19.15%* 43.78% 59.38%
[Earnings before interest and taxes/ Tangible Capital Employed]
(x) Return on lnwstment (in %) 4.71% 4.87% 5.48% 4.71% 5.48%
[Net gain on inwstment / Weighted AIIJ. inwstments]

(Not annualised)'

L

Crompton Greaves Consumer Electricals Limited Registered & Corporate Office: Tower 3, 1 st Floor, East Wing, Equinox Business Park, LBS Marg, Kurla (West), Mumbai - 400 070.lndia T: +91 22 6167 8499 F: +91 22 6167 8383 W: WWW crompton,co.fn CIN: L31900MH2015PLC262254

  • 6) During the quarter, 53,66,630 Equity shares of face value � 2 each were allotted upon exercise of the vested options under Employee Stock Option Schemes.
  • 7) The figures of the last quarter are the balancing figures between the audited figures in respect of the full financial year and year-to-date figures up to the third quarter of the financial year which were subjected to Limited Review.
  • 8) Figures of the previous periods have been regrouped, wherever necessary.

Place: Mumbai Date: 27th May, 2022

For Crompton Greaves Consumer Electricals Limited

µ� Shantanu Khosla

Managing Director DIN:00059877

MSKA 8: Associates Chartered Accountants

HO 602, Floor 6, Raheja Titanium Western Express Highway, Geetanjali Railway Colony, Ram Nagar, Goregaon (E) Mumbai 400063, INDIA Tel: +91 22 6831 1600

Independent Auditor's Report on Quarterly Consolidated Financial Results and Year End Consolidated Financial Results pursuant to the Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015

To the Board of Directors of Crompton Greaves Consumer Electricals Limited

Report on the Audit of Consolidated Financial Results

Opinion

We have audited the accompanying consolidated financial results of Crompton Greaves Consumer Electricals Limited (hereinafter referred to as the 'Holding Company') and its subsidiaries (Holding Company and its subsidiaries together referred to as "the Group"), for quarter and year ended March 31, 2022, ('the Statement') attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations').

In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of reports of other auditors on separate audited financial results and financial statements of the subsidiaries, the aforesaid Statement:

(i) includes the annual financial results of the following entities

Sr. No Name of the Entity Relationship with the Holding Company
1 Butterfly Gandhimathi Appliances Limited Subsidiary
2 Nexustar Lighting Project Private Limited Subsidiary
3 Pinnacles Lighting Project Private Limited Subsidiary

(ii) is presented in accordance with the requirements of Regulation 33 and Regulation 52 of the Listing Regulations in this regard; and

(iii) gives a true and fair view in conformity with the applicable accounting standards prescribed under Section 133 of the Companies Act, 2013 ("the Act") read with Companies (Indian Accounting Standards) Rules, 2015, as amended and other accounting principles generally accepted in India, of net profit and other comprehensive income and other financial information of the Group for the quarter and year ended March 31, 2022.

MS KA 8: Associates

Chartered Accountants

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Consolidated Financial Results section of our report. We are independent of the Group in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics.

We believe that the audit evidence obtained by us and other auditors in terms of their reports referred to in paragraph 1 of "Other Matters" below, is sufficient and appropriate to provide a basis for our opinion.

Board of Directors' Responsibilities for the Consolidated Financial Results

The Statement, which is the responsibility of the Holding Company's Management and approved by the Holding Company's Board of Directors, has been prepared on the basis of the consolidated financial statements. The Holding Company's Board of Directors is responsible for the preparation and presentation of this Statement that gives a true and fair view of the net profit and other comprehensive income and other financial information of the Group in accordance with the Indian Accounting Standards prescribed under Section 133 of the Act read with Companies (Indian Accounting Standards) Rules, 2015, as amended and other accounting principles generally accepted in India and in compliance the Listing Regulations. The respective Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Group and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that gives a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the Statement by the Directors of the Holding Company, as aforesaid.

In preparing the Statement, the respective Board of Directors of the companies included in the Group are responsible for assessing the ability of the Group to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group are responsible for overseeing the financial reporting process of the Group.

Auditor's Responsibilities for the Audit of the Consolidated Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Statement.

Head Office: 602, Floor 6, Raheja Titanium, Western Express Hi ghway, Geetanjali Railway Colony, Ram Nagar, Goregaon (E), Mumbai 40 Ahmedabad I Bengaluru I Chennai I Goa I Gurugram I Hyderabad J Kochi I Kolkata I Mumbai I Pune _ai�!!!!�i,.

MSKA & Associates

Chartered Accountants

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

  • • Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
  • • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
  • • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
  • • Conclude on the appropriateness of the Board of Directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.
  • • Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represent the underlying transactions and events in a manner that achieves fair presentation.
  • • Obtain sufficient appropriate audit evidence regarding the financial results/financial information of the entities within the Group to express an opinion on the Statement. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the Statement of which we are the independent auditors. For the other entities included in the Statement, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.

We communicate with those charged with governance of the Holding Company and such other entities included in the Statement of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Head Office: 602, Floor 6, Raheja Titanium, Western Express Highway, Geetanjali Railway Colony, Ram Nagar, Goregaon (E), Mumbai 40 Ahmedabad I Bengaluru I Chennai I Goa I Gurugram I Hyderabad I Kochi I Kolkata I Mumbai I Pune

MS KA & Associates

Chartered Accountants

We also performed procedures in accordance with the circular issued by SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent possible.

Other Matters

    1. The Statement includes the audited Financial Statements of three subsidiaries, whose Financial Statements reflect Group's share of total assets of Rs. 562.03 crores as at March 31, 2022, Group's share of total revenue of Rs 24. 98 crores and Rs. 30.03 crores and Group's share of total net profit after tax of Rs. 7.70 crores and Rs. 9.68 crores for the quarter ended March 31, 2022, and for the period from April 1, 2021 to March 31, 2022, respectively, as considered in the Statement, which have been audited by the respective independent auditors. The independent auditors' reports on financial statements of these entities have been furnished to us and our opinion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these entities, is based solely on the report of such auditors and the procedures performed by us are as stated in paragraph above.
    1. The consolidated financial statements of the Group for the year ended March 31, 2021, were audited by another auditor whose report dated May 21, 2021, expressed an unmodified opinion on those statements.
    1. The Statement includes the results for the quarter ended March 31, 2022, being the balancing figure �etween the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" which were subject to limited review by us.

Our opinion is not modified in respect of the above matters.

For M S KA & Associates Chartered Accountants ICAI Firm Registration No.105047W

Srividya Vaidison Partner Membership No. 207132 UDIN: 22207132AJSLJO2013 Place: Mumbai Date: May 27, 2022

Crompton Greaves Consumer Electricals Limited Registered & Corporate Office: Tower 3, 1 st Floor, East Wing, Equinox Business Park, LBS Marg, Kurla (West), Mumbai - 400 070.lndia T: +91 22 6167 8499 F: +91 22 6167 8383 W: WWW crampton co.In CIN: L31900MH2015PLC262254

(' crore)
Quarter Ended Year Ended Year Ended
Sr. 31.03.2022 31.12.2021 31.03.2021 31.03.2022 31.03.2021
No. Particulars Audited Unaudited Audited Audited Audited
(refer note 8) (refer note 8)
1 Income
(a) Re-enue from operations 1,547.92 1,410.59 1,522.05 5,394.11 4,803.51
(b) Other income 22.15 14.04 20.60 72.65 75.75
Total income 1,570.07 1,424.63 1,542.65 5,466.76 4,879.26
2 Expenses
(a) Cost of materials consumed 358.00 302.31 356.15 1,193.91 986.31
(b)Purchases of stock-in-trade 743.45 593.72 820.70 2,467.57 2,320.00
(c)Changes in in-entories of finished 40.30 (39.07)
goods, stock-in-trade and work-in-progress(d) Employee benefits expense (15.75)83.51 67.7794.13 (124.31)92.00 362.39 336.58
(e)Finance costs 10.55 6.67 10.44 35.31 42.91
Depreciation and amortisation expense(f) 14.48 10.17 7.16 42.28 29.69
(g) Other expenses 149.94 151.13 149.53 560.49 479.21
Total expenses 1,344.18 1,225.90 1,311.67 4,702.25 4,155.63
3 Profit before exceptional items and tax (1-2) 225.89 198.73 230.98 764.51 723.63
4 Exceptional Items (refer note 5) 12.97 - - 12.97 -
5 Profit before tax (3-4) 212.92 198.73 230.98 751.54 723.63
6 Tax expense
a) Current tax 14.57 53.49 60.88 159.52 192.30
b) Adjustment of tax relating to earlier periods 3.97 - (76.69) 3.97 (76.69)
cl Deferred tax 17.83 {3.02) (2.29) 9.67 (8.63)
7 Profit for the period/year (5-6) 176.55 148.26 249.08 578.38 616.65
8 Other comprehensive income / Closs)
(i) Items that will not be reclassified to profit or loss
- Remeasurements gain/ (loss) on defined benefit
plans
0.55 0.73 5.09 2.74 2.93
(ii) Income tax relating to items that will not be (0.151
reclassified to profit or lossOther comprehensive income / Closs) 0.40 (0.18)0.55 (1.28)3.81 (0.69)2.05 (0.74)2.19
9 Total comprehensive income (7+8) 148.81 252.89 580.43 618.84
10 Paid-up Eauitv share caoital of� 2 each 176.95126.68 125.61 125.54 126.68 125.54
11 Other Equitv 3,108.73 1,805.89
12 Earnings Per Share (of� 2 each) (Not annualised)*
(a) Basic On �) 2.81* 2.36* 3.97* 9.21 9.83
(bl Diluted On � 2.79* 2.34* 3.94* 9.17 9.75

STATEMENT OF CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH. 2022

Crompton Greaves Consumer Electricals Limited Registered & Corporate Office: Tower 3, 1 st Floor, East Wing, Equinox Business Park, LBS Marg, Kurla (West), Mumbai - 400 070.lndia T: +91 22 6167 8499 F: +91 22 6167 8383 W: www cromoton co In CIN: L31900MH2015PLC262254

CONSOLIDATED SEGMENT-VIIISE REVENUE, RESULTS, ASSHS AND LIABILITIES FOR THE QUARTER AND YEAR ENDED 31 ST MARCH. 2022

(Ill' crore)
Quarter Ended Year Ended Year Ended
Sr. 31.03.2022 31.12.2021 31.03.2021 31.03.2022 31.03.2021
No. Particulars Audited Unaudited Audited Audited Audited
(refer note 8) (refer note 8)
1 Segment Revenue
a) Electric Consumer Durables 1,230.90 1,099.26 1,193.00 4,311.00 3,757.13
b) Lighting Products 317.02 311.33 329.05 1,083.11 1,046.38
Total 1,547.92 1,410.59 1,522.05 5,394.11 4,803.51
Total Income from operations 1,547.92 1,410.59 1,522.05 5,394.11 4,803.51
2 Segment Results:
(Profit before tax and finance costs from each segment)
a) Electric Consumer Durables 227.94 213.02 216.32 826.70 739.22
b) Lighting Products 44.76 32.40 52.88 127.82 131.73
Total 272.70 245.42 269.20 954.52 870.95
Less: (i)Finance costs 10.55 6.67 10.44 35.31 42.91
(ii)Other un-allocable expenditure net of
un-allocated income 36.26 40.02 27.78 154.70 104.41
Profit from ordinary activities before tax 225.89 198.73 230.98 764.51 723.63
3 Segment A55ets
a) Electric Consumer Durables 961.74 896.74 920.25 961.74 920.25
b) Lighting Products 442.03 403.01 411.82 442.03 411.82
c) Butterfly Gandhimathi Appliances Limited 1,058.51 - - 1,058.51 -
d) Unallocable 3,986.31 2.292.02 2,265.36 3,986.31 2,265.36
Total Segment A55ets 6,448.59 3,591.77 3,597.43 6,448.59 3 597.43
4 Segment Liabilities
a) Electric Consumer Durables 1,039.96 768.81 697.04 1,039.96 697.04
b) Lighting Products 398.10 392.19 386.47 398.10 386.47
c) Butterfly Gandhimathi Appliances Limited 1,045.55 - - 1,045.55
d) Unallocable 729.57 212.78 582.49 729.57 582.49
Total Segment Liabilities 3,213.18 1,373.78 1,666.00 3,213.18 1,666.00

L

Crompton Greaves Consumer Electricals Limited Registered & Corporate Office: Tower 3, 1'1 Floor, East Wing, Equinox Business Park, LBS Marg, Kurla (West), Mumbai - 400 070.lndia T: +91 22 6167 8499 F: +91 22 6167 8383 W: www.cromptonco1n CIN: L31900MH2015PLC262254

CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES

If crorel
Asat Asat
Particulars 3Ul3-2022 31.03.2021
ASSETS Audited Audited
A
1 Non-current Assets:
(a) Property, plant and equipment 404.53 97.43
(b) Capital work-in-progress 13.00 10.86
(c) Right to use assets 71.10 35.33
(d) Goodwill 1,285.46 779.41
(e) Other intangible assets 1,512.38 2.82
(f) Financial assets
(i) lm.estments 0.34 -
(i) Others 15.39 11.39
(g) Deferred tax assets (net) - 58.55
(h) Non-current tax assets (net) 13.83 2.03
(i) Other non-current assets 32.51 20.09
Sub-total - Non-current Assets 3,348.54 1,017.91
2 Current Assets
(a) lm.entories 721.04 518.64
(b) Financial assets
(i) lm.estments 623.83 769.73
(ii) Trade receil.ables 615.43 460.81
(iii) Cash and cash equh.alents 171.62 262.42
(iv) Bank balances other than (iii) abO\e 743.57 341.53
(v) Loans 1.23 -
(\i) Others 14.16 8.36
(c) Current tax asset (net) 23.81 18.69
(d) Other current assets 185.36 199.34
Sub-total - Current Assets 3 100.05 2,579.52
Total -Assets 6,448.59 3,597.43
B EQUITY AND LIABILITIES
1 Equity
(a) Equity Share capital 126.68 125.54
(b) Other equity 2,326.28 1,805.89-
(c) Non-controlling interests 782.45
Sub-total - Equity 3,235.41 1,931.43
2 Liabilities
Non-current Liabilities:
(a) Financial liabilities
(i) Borrowings 4.56 298.78
(ii) Lease Liabilities 44.14 23.88
(b) Deferred tax liabilities (net) 39.43 -
(b) Pro\isions 109.55 112.40
Sub-total - Non-current Liabilities 197.68 435.06
Current Liabilities
(a) Financial liabilities 1,602.95 180.00
(i) Borrowings 34.08 15.45
(ii) Lease Liabilities
(iii) Trade payables 120.18 44.62
(a) Due to micro and small enterprises 897.60 775.80
(b) Due to creditors other than micro and small enterprises
(iv) Other financial liabilities 44.84 58.11
(b) Other current liabilities 133.61 54.56
(c) Pro\isions 182.243 015.50 102.401,230.94
Sub-total - Current Liabilities 3,213.18 1,666.00
Total Liabilities
Total - Eauitv and Liabilities 6.448.59 3,597.43

Crompton Greaves Consumer Electricals Limited Registered & Corporate Office: Tower 3, 1 st Floor, East Wing, Equinox Business Park, LBS Marg, Kurla (West), Mumbai - 400 070.lndia T: +91 22 6167 8499 F: +91 22 6167 8383 W: WIW/ crompton.co.in CIN: L31900MH2015PLC262254

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH, 2022
i!' crore
2021-22 2020-21
Particulars Audited Audited
[AJ CASH FLOWS FROM OPERATING ACTIVITIES
Profit before tax 751.54 723.63
Adjustments for.
Depreciation and amortisation expense 42.29 29.69
Finance Cost 35.31 42.910.16
Loss on sale of property, plant and equipmentShare-based Payments to employee 0.1437.76 25.17
Net gain on sale/ fair 1.0luation of im.estments (43.66)
Interest income (36.94)(28,52) (31.37)
Unrealised exchange (gain)/ loss (net) 1.12 /3.211
51.16 19.69
Cash Generated from operations before worl <ing capital="" changes<="" td="">802.70743.32 802.70 743.32
Adjustments for
(Increase)/ Decrease in trade and other recei1.0bles (45.28) (77.24)
Decrease I (Increase) in im.entories 7.29 (55.03)
Increase/ (Decrease) in trade and other payables 121.7616,73 232.2244.52
Increase/ (Decrease) in prolAsions 100.50 144.47
Cash generated from operations 903.20 887.79
Taxes paid (net of refunds} (179.82) 157.501
Net cash generated from/ (used In) operoUng activities [A] 723.38 830.29
{8] CASH FLOWS FROM INVESTING ACTIVITIES
Add: Inflows from investing activities
Interest recei\ed 37.03 26.73
Sale of property, plant and equipment 0.56 0.41
37.59 27.14
Less: Outflows from investing activitieslm.estment in Subsidiaries 1,380.00 -
(Sale} / Purchase of current imestments (net) (162.85) 185.25
Increase/ (Decrease) in other bank balances and term deposits 392.17 317.44
Purchase of property, plant and equipment and intangible assets 171.15 20.18
1,760.47 522.87
Net Cash (used in)/ generated from investing activities (B] 11,722.83 1495.73
[CJ CASH FLOWS FROM FINANCING ACTIVITIES
Add: Inflows from financing activitiesProceeds from issue of equity shares 60.33 7.27
Proceeds from issue of debentures 300 00
Proceeds from Short Term Borrowings (Net) 1,<1{)6.90 -
1,467.23 307.27
Less: Outflows from financing activities
Payment of dilAdend including dilAdend distribution tax 156,35 187.39
Repayment of debentures 330.00 170.00
Repayment of lease liability 23.01 11.90
Interest paid 50.53 34.15
559.89 403.44
Net Cash (used In)/ generated from financing activities lCJ 907.34 196.171
Net increase / {decrease) in cash and cash equlva lents (A+B+C) 192.1611 238.39
Consolidated Cash and cash eaulvalents movement !without Butterfiv Gandhimalhl Aooliances Limited balance\
{ a ) Cash and cash equivalents at beginning of the year 262.42 24,.03
( b ) Cash and cash equivalents at end of the year 170.26 262.42
If c I Net increase/ !decrease) in cash and cash e11ulvalentsle= b-al (92.16 238.39
( d) Cash and cash equivalents of Butterfly Gandhimathi Appliances Limited -
at the end of vear 1.36
Consolidated Cash and cash eauivalents movement !with Butterflv Gandhimathi Acclianc&s Limited balance I

e) Cash and cash e11uivalentsat e_nd of the vear(e" b+dl 171.62 262.42

Crompton Greaves Consumer Electricals Limited Registered & Corporate Office: Tower 3, 1 st Floor, East Wing, Equinox Business Park, LBS Marg, Kurla (West), Mumbai - 400 070.lndia T: +91 22 6167 8499 F: +91 22 6167 8383 W: www.crompton co n CIN: L31900MH2015PLC262254

Notes on Consolidated financial results:

  1. The consolidated financial results of Crompton Greaves Consumer Electricals Limited (Holding Company) and its subsidiary companies have been reviewed by the Audit Committee and approved by the Board of Directors of the Holding Company on 27th May, 2022.

2) Acquisition of Butterfly Gandhimathi Appliances Limited ("BGMAL")

  • a) On 22nd February, 2022, a Share Purchase Agreement ("SPA") was entered amongst the Company, Butterfly Gandhimathi Appliances Limited ("BGMAL"), its Promoters and certain members of the Promoter group of BGMAL for the sale of 55% of the issued and paid-up equity share capital of BGMAL. Consequent to the acquisition of 55% of the issued and paid-up equity share capital of BGMAL, the Company has become the Promoter and Holding Company of BGMAL with effect from 30th March, 2022. In accordance with regulations 3(1) and 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulations, 2011, a Public Announcement regarding the mandatory Open Offer was made by the Company on 22nd February, 2022 for acquisition of upto 26% of the voting share capital of BGMAL from its public shareholders.
  • b) The Draft Letter of Open Offer was filed by the Company with the Securities & Exchange Board of India ("SEBI") on 04th March, 2022 and SEBI has given its final observations on 10th May, 2022. Pursuant to this, the Company has dispatched the letter of offer to the public shareholders of BGMAL. The tendering period for the same is from 23rd May, 2022 to 3 rd June, 2022.
  • c) The Company has raised debt funds of, 1,155.73 crores to part fund the acquisition of BGMAL.
    1. The listed secured Non-Convertible Debentures of the Company aggregating to, 150 crores as on 31st March, 2022 are secured by charge on Company's certain properties and charge on 'Crompton' Brand and Registered Trademarks. The asset cover as on 31st March, 2022 exceeds hundred percent of the principal amount.
    1. The Board of Directors have recommended a dividend of, 2.50 /- (Rupees Two and paisa Fifty) per equity share of the face value of, 21- each for the financial year ended 31st March, 2022.
    1. Exceptional item of, 12.97 crores for the quarter and year ended 31st March, 2022 (quarter and year ended 31st March, 2021- Nil) represents transaction costs directly attributable to the acquisition of stake in BGMAL, as referred to in Note 2 above.

Crompton Greaves Consumer Electricals Limited Registered & Corporate Office: Tower 3, 1 st Floor, East Wing, Equinox Business Park, LBS Marg, Kurla (West), Mumbai - 400 070.lndia T: +91 22 6167 8499 F: +91 22 6167 8383 W: www.crompton.co.1n GIN: L31900MH2015PLC262254

  1. Additional disclosures as per Clause 52(4) of Securities and Exchange Board of India (listing Obligations and Disclosure Requirement) Regulations, 2015:
Sr.No. Particulars Quarter Ended Year Ended
31.03.2022 31.12.2021 31.03.2021 31.03.2022 31.03.2021
(a Outstanding Non- Conwrtible Debentures (f In crores) 150.00 150.00 48 0.00 150.00 48 0.00
(b Debenture Redemotion Reser.e (f In crores) 75.00 75.00 75.00 75.00 75.00
(c Securities Premium (f In crores) 144.8 7 33.30 24.01 144.8 7 24.01
(d) Net Worth (t In crores) 3,235.41 2.217.98 1,931.43 3,235.41 1,931.43
(e Net P refit after Tax (f In crores) 176.55 148 .26 249.08 578.38 616.65
(fl Basic Earnings per share (in fl 2.8 1* 2.36* 3.97* 9.21 9.8 3
(o) Diluted Earnings per share (in fl 2.79* 2.34* 3.94* 9.17 9.75
(h) Debt-Equity Ratio (in times)(Total Debt/ Eouitvl 0.50 0.07 0.25 0.50 0.25
(i) Long term Debt to working capital (in times)[Non current Borrowings + current Maturities of long termdebt)/ Net working capital excl. current Borrowinos] 0.09 0.11 0.20 0.09 0.20
0) Total Debts to Total Assets Ratio (in times)![(Short term Debt+ Leno term debt)/ Total Assets] 0.25 0.04 0.13 0.25 0.13
(k) Debt Sen.ice Cowrage Ratio (in times)[Profit After Tax + Interest + Depreciation/(Finance Cost + Renavments made during the year)] 1,26* 0.49* 1.40* 3.54 3.24
(I) Interest Sen.ice Cowrage Ratio (in times)[(Profit Before Tax + Interest + Depreciationl/Finance Cost] 23.78 * 32.34* 23.8 1* 23.8 5 18 .56
(m) Current ratio (in times)(Current Assets/ Current liabilities excl. current Borrowings) 2.19 2.17 2.45 2.19 2.45
(n) Bad Debts to Account receiwb!e ratio (in % )(Bad debts/ Trade receiwbles) 1.00% - 3.00% 1.00% 3.00%
(o) Current Liability ratio (in times)I (Current liabilities excl. current borrowings/ Total Liabilities) 0.44 0.8 5 0.63 0 44 0.63
(p) Debtors Tumowr (in times)II/Sale of Products and SePlices/ A',Q. Trade Recei1o0bles)) 2.8 8 * 2.8 5* 3.20* 10.02 10.09
(q) lnwntory Tumowr (in times)[(Cost of goods sold/ A-.g. lnwntorv)l 1.75* 1.94* 2.14* 5.97 6.65
(r) Operating Margin (in%)[(Profit before Depreciation, Interest, Tax and Exceptionalitems/ Sale of Products and Se11.1ces] 14.78% 14.29% 14.98% 14.26% 15.00%
(s) Net Profit Margin (in%)I/Profit after tax/ Sale of Products and Se11.1ces) 11.24% 10.41% 16.15% 10.58% 12.64%
(t) Return on equity ratio (in%)[Net Profit after Taxes/ A-.g_ Shareholde�s Eouitvl 6.8 3%* 7.15%* 14.65%* 22.39% 36.28%
(u) Trade Payables Tumowr ratio[Net Credit Purchases/ A-.g. Accounts oavablesl 1.18 * 1.21* 1.25* 4.03 3.8 8
(v) Net Capital Tumowr ratio[Net Sales/ Working Capital] 0.93* 1.04* 1.01* 3.24 3.19
(w) Return on Capital Employed (in%)1Eamings before interest and taxes/ Tangible CapitalEmolovedl 48,97%* 13.32%* 19.21%* 166.18% 60.11%
(x) Return on lnwstment (in%)l[Net aain on im.estment / Weiahted AloQ, inwstmentsl 4.71% 4.8 7% 5.48% 4.71% 5.48%

(Not annualised)*

L

Crompton Greaves Consumer Electricals Limited

Standalone Results for Quarter Ended March 2022

Strong performance in a Pandemic affected quarter Q4FY22: Revenue at Rs 1,532 Cr FY22: Revenue at Rs 5,373 Cr

Mumbai, May 27, 2022: The Board of Directors, at its meeting held on May 27, 2022 approved the results of the Company for the quarter ended March 31, 2022. Revenue for the quarter, was Rs. 1532 crores, EBIDTA stood at Rs. 222 crores with a margin of 14.5% and PAT at Rs. 182 crores with a margin of 11.9%. The Board of Directors recommended a Dividend of Rs. 2.50 per equity share of Rs. 2/ each.

The operations of the company faced a significant disruption due to the pandemic in January 22, resulting in steep decline in sales during that month. However, the Company quickly managed to get its operations back on track and delivered strong double-digit growth during the February-March period.

Fans continued to gain market share, driven by strong performance in premium ceiling fans. The company also gained market share in water heaters and LED downlighters. The B2G lighting business continued to face headwinds impacting overall lighting business growth.

Commodity prices continued to harden during the quarter resulting in higher input costs. Margins were protected through calibrated pricing intervention, strong cost reduction programs and mix improvement. Despite ongoing margin pressures, the Company continued to invest in key growth initiatives.

Commenting on the Quarter results, Company's Managing Director, Shantanu Khosla said "Though the Quarter began with the onset of Omicron , business quickly bounced back in February and March to deliver double digit growth. While all channels delivered strong performance, our investment in newer channels viz., E-com and Rural continue to deliver disproportionate growth. The strategically important acquisition of controlling stake in Butterfly was completed."

About Crompton:

Crompton is India's market leader in fans, No. 1 player in residential pumps and has leading market positions in its other product categories. The Company manufactures and markets a wide spectrum of consumer products, ranging from fans, lamps and luminaries to pumps and household appliances such as water heaters, coolers, mixer grinders and irons. The Company has strong dealer base across the country and wide service network offering robust after sales service to its customers.