Crompton Greaves Consumer Electricals Limited — Earnings Release 2021

Jul 24, 2020

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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.India T: +91 22 6167 8499 F: +91 22 6167 8383 W: www.crompton.co.in CIN: L31900MH2015PLC262254

Date: July 24,2020

To,BSE Limited (“BSE”),Corporate Relationship Department,2ndFloor, New Trading Ring,P.J. Towers, Dalal Street,Mumbai – 400 001.	To,National Stock Exchange of India Limited(“NSE”),“Exchange Plaza”, 5thFloor,Plot No. C/1, G Block,Bandra-Kurla ComplexBandra(East), Mumbai – 400 051.
BSE Scrip Code: 539876	NSE Symbol: CROMPTON
ISIN: INE299U01018	ISIN: INE299U01018
Our Reference: 54/2020-21	Our Reference: 54/2020-21

Dear Sir/ Madam,

Sub: Outcome of Meeting of the Board of Directors held on July 24, 2020

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the “Listing Regulations”), we inform you that the Board of Directors in their Meeting held today which commenced at 12:20 P.M. (IST) and concluded at 1:40 P.M. (IST) have inter alia, approved the following:-

1. Unaudited Financial Results (Standalone and Consolidated) for the quarter ended June 30, 2020;

2. Limited Review Report on the Unaudited Financial Results (Standalone and Consolidated) for the quarter ended June 30, 2020;

3. Press release on the Unaudited Financial Results for the quarter ended June 30, 2020.

We enclose the following:-

1. Unaudited Financial Results (Standalone and Consolidated) for the quarter ended June 30, 2020;

2. Limited Review Report on the Unaudited Financial Results (Standalone and Consolidated) for the quarter ended June 30, 2020;

3. Press-release on the Unaudited Financial Results for the quarter ended June 30, 2020.

You are requested to kindly take the above information on your record.

Thanking You,

For Crompton Greaves Consumer Electricals Limited

PRAGYA KAUL

Digitally signed by PRAGYA KAUL DN: c=IN, o=Personal, postalCode=400074, st=MAHARASHTRA, serialNumber=84c3cda8c48ae17c551bd8b9ee5a8312ce 8ac0972726393186cb59193af2751f, cn=PRAGYA KAUL Date: 2020.07.24 13:43:39 +05'30'

Pragya Kaul Company Secretary & Compliance Officer

Encl: A/a

Crompton Greaves Consumer Electricals Limited

Results for Quarter Ended June 2020

Q1FY21: Revenue at Rs 713 Crs, PAT at Rs 74 Crs. Sales improved sequentially through the quarter. Strong cost reduction measures secured margins inspite of COVID-19 impact.

Mumbai, July 24, 2020: The Board of Directors, at its meeting held on 24[th] July 2020 approved the results of the Company for the quarter ended 30[th] June 2020. Sales for the quarter was Rs. 713 Crs. Recovery started in May and continued in June across all product groups. In June, ECD and B2C Lighting business (excl EESL) reached ~90% of last year levels.

PBT margin increased sequentially as accelerated cost reduction programmes neutralized the negative operating leverage due to Covid-19. Continued drive on collections delivered a very good cash flow.

Commenting on the Quarter results, Company’s Managing Director, Shantanu Khosla said “During these unprecedented times, the health and safety of our employees received our highest attention. Business confidence picked up in May and the revival gathered pace in June across all product categories. The Company’s robust cost management and operational efficiency programmes aided in improving margins sequentially. However, Covid -19 had a significant adverse impact on the Company’s volumes because of lockdowns. Even as the gradual unlocking continues, fresh restrictions and temporary lockdowns imposed in select cities, extend the tenure of uncertainty. Thus, it would be premature to say that the problems are completely behind us.

Cash conversion recorded significant improvement supported by actions on driving collections and working capital management. Margin resilience and robustness of the cash conversion cycle were key highlights of this quarter’s performance.”

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.