Crompton Greaves Consumer Electricals Limited

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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: May 15, 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 Complex, Bandra (East), Mumbai – 400 051.
BSE Scrip Code: 539876	NSE Symbol: CROMPTON
ISIN: INE299U01018	ISIN: INE299U01018
Our Reference: 16/2020-21	Our Reference: 16/2020-21

Dear Sir/Madam,

Sub: Outcome of Meeting of the Board held on May 15, 2020 under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 we inform you that the Board of Directors in their Meeting held today i.e. Friday, May 15, 2020 which commenced at 3:00 P.M. (IST) and concluded at 6:10 P.M. (IST), have inter alia, approved and taken on record the following:

Statement showing the Audited Financial Results (Standalone and Consolidated) for the quarter and year ended March 31, 2020, alongwith Statement of Assets and Liabilities as at year ended March 31, 2020 (Standalone and Consolidated);
Auditors Report on the Audited Financial Results (Standalone and Consolidated);
The Board has not recommended any dividend;
Convening of the 6[th] Annual General Meeting of the Company on Friday, July 24, 2020;
Re-appointment of Mr. P.M. Murty as an Independent Director of the Company for a second term with effect from September 18, 2020 to July 25, 2025, subject to approval of the Members of the Company at the ensuing Annual General Meeting;
Re-appointment of Mr. D. Sundaram as an Independent Director of the Company for a second term of 5 (five) years with effect from September 18, 2020, subject to approval of the Members of the Company at the ensuing Annual General Meeting;
Re-appointment of Mr. H.M. Nerurkar as an Independent Director of the Company for a second term with effect from January 25, 2021 to October 20, 2023, subject to approval of the Members of the Company at the ensuing Annual General Meeting;
Re-appointment of Mr. Shantanu Khosla as the Managing Director of the Company for a further period of 5 (five) years with effect from January 1, 2021, subject to approval of the Members of the Company at the ensuing Annual General Meeting.

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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

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, 2020.

We enclose the following:

Audited Financial Results (Standalone and Consolidated) for quarter and year ended March 31, 2020;
Auditors Report on the Standalone and Consolidated Financial Results for the year ended March 31, 2020;
Press-release on the Audited Financial Results for the year ended March 31, 2020;
The details required under Regulation 30 of the Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 are given in Annexure A.

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

Digitally signed by PRAGYA KAUL DN: c=IN, o=Personal, PRAGY postalCode=400074, st=MAHARASHTRA, serialNumber=84c3cda8c48ae17c5 51bd8b9ee5a8312ce8ac09727263 93186cb59193af2751f, cn=PRAGYA A KAUL KAUL Date: 2020.05.15 18:30:15 +05'30' Pragya Kaul Company Secretary & Compliance Officer

Encl: A/a

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Annexure A

Name of Director	Mr. P.M. Murty	Mr. D. Sundaram	Mr. H.M. Nerurkar	Mr. Shantanu Khosla
Details of Appointment	Re-appointment as an Independent Director	Re-appointment as an Independent Director	Re-appointment as an Independent Director	Re-appointment as the Managing Director
Tenure of Appointment	With effect from September 18, 2020 to July 25, 2025	5 (five) years with effect from September 18, 2020	With effect from January 25, 2021 to October 20, 2023	5 (five) years with effect from January 1, 2021
Relationships between directors	None	None	None	None

Brief Profile:

Mr. P.M. Murty

Mr. P.M. Murty, Non-Executive Independent Director of the Company and Chairman of the Nomination & Remuneration Committee, joined the Board of the Company in August, 2015. He holds a Postgraduate Diploma in Management from Indian Institute of Management, Calcutta. He has more than 42 years of experience working with Asian Paints Limited (APL), wherein he held various senior positions including that of Managing Director from 2009 to 2012 and is winner of the prestigious “CEO of the Year” award by Business Standard (2009-10).

Mr. D. Sundaram

Mr. D. Sundaram, Non-Executive Independent Director of the Company and Chairman of the Audit & Risk Management Committee, joined the Board of the Company in August 2015. He holds a Postgraduate degree in Management Studies (MMS) from Chennai University and a Fellow Member of the Institute of Cost and Management Accountants of India. He has also attended the Harvard Business School’s Advanced Management Programme. Currently, he is the Vice-Chairman and Managing Director of TVS Capital Funds. Prior to that, he was associated with Hindustan Unilever for more than 34 years, wherein he held various positions before becoming the Vice-Chairman in 2008. He has been on the Board of Governors of the Institute of Financial Management and Research, Chennai and is a two-time winner of the prestigious “CFO of the Year for FMCG Sector” award by CNBC TV18 (2006 and 2009).

Mr. H.M. Nerurkar

Mr. H.M. Nerurkar, Non-Executive Independent Director of the Company and Chairman of the Board of Directors and Stakeholders’ Relationship and Share Transfer Committee, joined the Board of the Company in January 2016.

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Crompton Greaves Consumer Electricals Limited

He holds a Bachelor’s degree in Metallurgical Engineering from the College of Engineering, Pune University. He has vast experience of over 35 years in Tata Steel across various positions. He joined Tata Steel in the year 1972 and rose to the level of Managing Director, as in-charge of India and South East Asia operations. Currently, he is the Chairman of TRL Krosaki Refractories Limited (formerly Tata Refractories Limited - a JV between Tata Steel and Krosaki Harima Corporation, Japan) and NCC Ltd (formerly Nagarjuna Construction Company Limited) and an Independent Director of several other listed entities. He has attended several management courses in India and abroad, including CEDEP in France.

Mr. Shantanu Khosla

Mr. Shantanu Khosla, Managing Director of the Company and Chairman of the Corporate Social Responsibility Committee, joined the Board of the Company in September 2015. He holds a Bachelor’s degree in Mechanical Engineering from Indian Institute of Technology, Bombay and MBA from Indian Institute of Management, Calcutta. Prior to joining CGCEL, he served as the Managing Director and Chief Executive Officer (CEO) of Procter & Gamble from July 2002 to June 2015.

SHARP & TANNAN Chartered Accountants

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Firm’s Registration No. 109982W

INDEPENDENT AUDITOR’S REPORT

To the Board of Directors of Crompton Greaves Consumer Electricals Limited

Report on the Audit of the Standalone Financial Results

Opinion

We have audited the accompanying Standalone Quarterly Financial Results of Crompton Greaves Consumer Electricals Limited (the ‘Company’) for the quarter ended 31st March, 2020 and the year-todate results for the period from 1st April, 2019 to 31st March, 2020, attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (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, these annual financial results:

(i) are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and

(ii) give a true and fair view of the standalone net profit and other comprehensive income and other financial information for the quarter ended 31st March, 2020 as well as the year-to-date results for the period from 1st April, 2019 to 31st March, 2020.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Companies Act, 2013 (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 (ICAI) together with ethical requirements that are relevant to our audit of the standalone 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 we have obtained is sufficient and appropriate to provide a basis for our opinion.

Emphasis of Matter

We draw attention to Note 7 to the standalone financial results which explains COVID-19 that has caused significant disruptions in the business operations of companies across India and has caused significant accounting and auditing challenges. One such challenge being inability for the Company to conduct a physical verification of inventories for the year-end 31st March, 2020 due to Government having imposed restrictions during the lockdown on account of health, travel and safety concerns.

The Company’s management, however, conducted physical verification of inventories on dates other than the date of financial statements but prior to the date of the board meeting to be held for the purpose of adopting the financial results at certain locations (factories and warehouses) and has made available the documents in confirmation thereof. Inventories, being material to the financial statements/results of the Company, the Standard on Auditing (SA) 501, Audit Evidence - Specific Considerations for Selected items, cast a duty on us to obtain sufficient appropriate audit evidence regarding the existence and condition of inventories.

Ravindra Annexe, 194, Churchgate Reclamation, Dinshaw Vachha Road, Mumbai - 400 020, India. Tel. (22) 2204 7722/23, 2286 9900 Fax (22) 2286 9949 E-mail : [email protected] Shreedhar T. Kunte Ramnath D. Kare Edwin P. Augustine Raghunath P. Acharya Firdosh D. Buchia Tirtharaj A. Khot Pavan K. Aggarwal Also at Pune. Associate Offices: New Delhi, Chennai, Bangalore, Baroda, Goa & Ahmedabad

SHARP & TANNAN

SHEET NO:: _____

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We have performed alternate audit procedures based on documents and other information made available to us, to audit the existence of inventories as per the Guidance provided by the Standard on Auditing (SA) 501, Audit Evidence - Specific Considerations for Selected items, and have obtained sufficient appropriate audit evidence to issue our unmodified opinion on these standalone financial results.

Our opinion is not modified in respect of this matter.

Management’s Responsibilities for the Standalone Financial Results

These quarterly financial results as well as the year to date standalone financial results have been prepared on the basis of the financial statements. The Company’s Board of Directors are responsible for the preparation of these standalone financial results that give a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding 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 design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone financial results, the Board of Directors are responsible for assessing the Company’s ability 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 are also responsible for overseeing the Company’s financial reporting process.

Auditor’s Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the standalone financial results as a whole are 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 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone financial results.

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 standalone financial results, 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, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal controls;

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SHARP & TANNAN

SHEET NO:: _____

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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 Company’s ability 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 standalone financial results 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; and
Evaluate the overall presentation, structure and content of the standalone financial results, including the disclosures, and whether the standalone financial results represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance 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.

Other Matter

The annual standalone financial results include the results for the quarter ended 31st March, 2020 being the balancing figure between audited figures in respect of the full financial year and the published unaudited figures up to the third quarter of the current financial year which were subject to limited review by us.

SHARP & TANNAN Chartered Accountants by the hand of

Firm’s Registration No.109982W

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Partner Membership No. 043385 UDIN: 20043385AAAACK9857

Mumbai, 15th May, 2020

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STATEMENT OF STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2020

(₹ crore)

					(₹ crore)	(₹ crore)
Sr. No.	Particulars	Quarter Ended			Year Ended
		31.03.2020	31.12.2019	31.03.2019	31.03.2020	31.03.2019
		Audited (refer note 9)	Unaudited	Audited (refer note 9)	Audited	Audited
1	Income (a) Revenue from operations (b) Other income	1,018.05 11.92	1,071.29 17.39	1,206.88 17.21	4,511.97 58.87	4,478.91 48.26
	Total income	1,029.97	1,088.68	1,224.09	4,570.84	4,527.17
2	Expenses (a) Cost of materials consumed (b) Purchases of stock-in-trade (c) Changes in inventories of finished goods, stock-in-trade and work-in-progress (d) Employee benefits expense (e) Finance costs (f) Depreciation and amortisation expense (g) Other expenses	270.45 520.62 (94.99) 70.61 8.25 8.20 112.93	216.41 520.20 (7.65) 77.36 8.72 6.42 128.11	280.93 556.42 (4.11) 76.50 14.32 3.30 128.60	979.46 2,211.85 (126.29) 310.95 40.67 26.79 539.14	1,056.49 2,058.62 (23.29) 291.88 59.60 12.89 509.42
	Total expenses	896.07	949.57	1,055.96	3,982.57	3,965.61
3	Profit before tax (1-2)	133.90	139.11	168.13	588.27	561.56
4	Tax expense (Refer notes 4 & 5)
	a) Current tax	31.73	(17.49)	29.53	83.81	171.12
	b)Deferred tax	2.36	(4.42)	(3.07)	9.76	(12.08)
5	Profit for the period/year (3-4)	99.81	161.02	141.67	494.70	402.52
6	Other comprehensive income/ (loss)
	(i) Items that will not be reclassified to profit or loss - Remeasurements gain/ (loss) ondefined benefit plans	(3.48)	0.20	0.62	(2.88)	0.80
	(ii) Income tax relating to items that will not be reclassified to profit or loss	0.88	(0.05)	(0.22)	0.73	(0.28)
	Other comprehensive income /(loss)	(2.60)	0.15	0.40	(2.15)	0.52
7	Total comprehensive income (5+6)	97.21	161.17	142.07	492.55	403.04
8	Paid-upEquityshare capital of ₹ 2 each	125.46	125.45	125.40	125.46	125.40
9	Other Equity				1,342.34	973.08
10	NetWorth				1,467.80	1,098.48
11	Paid-upDebt Capital/ OutstandingDebt				349.72	649.26
12	DebtEquityRatio				0.24	0.59
13	Earnings Per Share (of ₹ 2 each) (Not annualised)* (a) Basic (in ₹) (b)Diluted(in ₹)	1.59 1.58	2.57 2.55	2.26 2.25	7.89 7.83	6.42 6.38
14	Debt Service CoverageRatio				13.82	7.97
15	Interest Service CoverageRatio				16.12	10.64

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SHANTA

KHOSLA

Digitally signed by SHANTANU KHOSLA DN: c=IN, o=Personal, postalCode=400030, st=MAHARASHTRA, serialNumber=c74ddf8b3c9398 f6504706937e2371e15520a64e 779957d7d083cc3ba795784b, cn=SHANTANU KHOSLA Date: 2020.05.15 18:05:38 +05'30'

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STANDALONE SEGMENT-WISE REVENUE, RESULTS, ASSETS AND LIABILITIES FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2020

		(₹ crore)	(₹ crore)	(₹ crore)	(₹ crore)	(₹ crore)
Sr.	Particulars	Quarter Ended			Year Ended
No.		31.03.2020	31.12.2019	31.03.2019	31.03.2020	31.03.2019
		Audited (refer note 9)	Unaudited	Audited (refer note 9)	Audited	Audited
1	Segment Revenue a) Electric Consumer Durables	741.09 276.96 1,018.05 -	786.95 284.34 1,071.29 -	864.36 342.52 1,206.88 -	3,389.04 1,122.93 4,511.97 -	3,213.57 1,265.34 4,478.91 -
	b) Lighting Products
	Total Less: Inter-SegmentRevenue
	Total Income from operations	1,018.05	1,071.29	1,206.88	4,511.97	4,478.91
2	Segment Results : (Profit before tax and finance costs from each segment) a) Electric Consumer Durables b) Lighting Products Total Less: (i) Finance costs (ii) Other un-allocable expenditure net of un-allocatedincome	148.20 19.27 167.47 8.25 25.32	156.14 19.55 175.69 8.72 27.86	168.46 39.26 207.72 14.32 25.27	673.10 68.00 741.10 40.67 112.16	616.15 106.87 723.02 59.60 101.86
	Profit from ordinary activities before tax	133.90	139.11	168.13	588.27	561.56
3	Segment Assets a) Electric Consumer Durables b) Lighting Products c) Unallocable	721.88 478.23 1,543.93	663.61 502.18 1,477.30	606.19 497.33 1,566.28	721.88 478.23 1,543.93	606.19 497.33 1,566.28
	Total Segment Assets	2,744.04	2,643.09	2,669.80	2,744.04	2,669.80
4	Segment Liabilities a) Electric Consumer Durables b) Lighting Products c) Unallocable	479.17 384.08 412.99	472.65 398.00 408.23	384.81 453.35 733.16	479.17 384.08 412.99	384.81 453.35 733.16
	Total Segment Liabilities	1,276.24	1,278.88	1,571.32	1,276.24	1,571.32

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SHANTA NU KHOSLA

Digitally signed by SHANTANU KHOSLA DN: c=IN, o=Personal, postalCode=400030, st=MAHARASHTRA, serialNumber=c74ddf8b3c939 8f6504706937e2371e15520a64 e779957d7d083cc3ba795784b, cn=SHANTANU KHOSLA Date: 2020.05.15 18:06:23 +05'30'

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STANDALONE STATEMENT OF ASSETS AND LIABILITIES

		(₹ crore) As at 31.03.2020 As at 31.03.2019 Audited Audited 125.06 78.55 19.90 0.98 779.41 779.41 4.50 5.19 14.20 14.20 7.82 9.95 50.62 59.65 22.79 15.45 1,024.30 963.38 463.61 352.38 539.58 529.98 458.71 565.98 22.97 116.34 24.09 26.07 13.72 12.86 78.82 18.09 118.24 84.72 1,719.74 1,706.42 2,744.04 2,669.80 125.46 125.40 1,342.34 973.08 1,467.80 1,098.48 179.72 349.26 19.11 17.29 198.83 366.55 3.30 9.19 633.93 654.98 217.14 365.69 58.27 23.10 164.77 151.81 1,077.41 1,204.77 2,744.04 2,669.80 SHANTA NU KHOSLA	(₹ crore) As at 31.03.2020 As at 31.03.2019 Audited Audited 125.06 78.55 19.90 0.98 779.41 779.41 4.50 5.19 14.20 14.20 7.82 9.95 50.62 59.65 22.79 15.45 1,024.30 963.38 463.61 352.38 539.58 529.98 458.71 565.98 22.97 116.34 24.09 26.07 13.72 12.86 78.82 18.09 118.24 84.72 1,719.74 1,706.42 2,744.04 2,669.80 125.46 125.40 1,342.34 973.08 1,467.80 1,098.48 179.72 349.26 19.11 17.29 198.83 366.55 3.30 9.19 633.93 654.98 217.14 365.69 58.27 23.10 164.77 151.81 1,077.41 1,204.77 2,744.04 2,669.80 SHANTA NU KHOSLA
	Particulars	As at 31.03.2020	As at 31.03.2019
		Audited	Audited
A 1 2 B 1 2	ASSETS Non-current Assets: (a) Property, plant and equipment (b) Capital work-in-progress (c) Goodwill (d) Other intangible assets (e) Financial assets (i) Investments (ii) Others (f) Deferred tax assets (net) (g) Other non-current assets Sub-total - Non-current Assets Current Assets (a) Inventories (b) Financial assets (i) Investments (ii) Trade receivables (iii) Cash and cash equivalents (iv) Bank balances other than (iii) above (v) Others (c) Current tax asset (net) (d) Other current assets Sub-total - Current Assets	125.06 19.90 779.41 4.50 14.20 7.82 50.62 22.79	78.55 0.98 779.41 5.19 14.20 9.95 59.65 15.45
		1,024.30	963.38
		463.61 539.58 458.71 22.97 24.09 13.72 78.82 118.24	352.38 529.98 565.98 116.34 26.07 12.86 18.09 84.72
		1,719.74	1,706.42

	Total - Assets	2,744.04	2,669.80
	EQUITY AND LIABILITIES Equity (a) Equity Share capital (b) Other equity Sub-total - Equity Liabilities Non-current Liabilities: (a) Financial Liabilities (i) Borrowings (b) Provisions Sub-total - Non-current Liabilities Current Liabilities (a) Financial liabilities (i) Trade payables (a) Due to micro and small enterprises (b) Due to creditors other than micro and small enterprises (ii) Other financial liabilities (b) Other current liabilities (c) Provisions Sub-total - Current Liabilities	125.46 1,342.34	125.40 973.08
		1,467.80	1,098.48
		179.72 19.11	349.26 17.29
		198.83	366.55
		3.30 633.93 217.14 58.27 164.77	9.19 654.98 365.69 23.10 151.81
		1,077.41	1,204.77

	Total - Equity and Liabilities	2,744.04	2,669.80

Digitally signed by SHANTANU KHOSLA

DN: c=IN, o=Personal, postalCode=400030, st=MAHARASHTRA, serialNumber=c74ddf8b3c9398f 6504706937e2371e15520a64e77 9957d7d083cc3ba795784b, cn=SHANTANU KHOSLA Date: 2020.05.15 18:07:06 +05'30'

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STANDALONE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH, 2020

		(₹ crore)	(₹ crore)
Particulars		2019-20	2018-19
		Audited	Audited
[A]	CASH FLOWS FROM OPERATING ACTIVITIES Profit before tax Adjustments for: Depreciation and amortisation expense Interest expense Loss on sale of property, plant and equipment Provision for expenses on employee share options Net (gain) / loss on sale/ fair valuation of investments Interest income Income from mutual funds Unrealised exchange loss / (gain) (net) Cash Generated from operations before working capital changes Adjustments for Decrease / (Increase) in trade and other receivables (Increase) / Decrease in inventories (Decrease) / Increase in trade and other payables Increase / (Decrease) in provisions Cash generated from operations Taxes paid (net of refunds) Net cash(used in) /generated from operating activities [A]	588.27	561.56
		26.79 40.67 0.15 22.83 (33.37) (23.38) - 3.84	12.89 59.60 0.09 34.43 (16.05) (19.67) (10.62) (1.28)
		37.53	59.39
		625.80	620.95
		77.56 (111.23) (38.42) 11.90	(17.87) (49.14) (108.74) 55.59
		(60.19)	(120.16)
		565.61 (144.54)	500.79 (199.35)
		421.07	301.44

[B]	CASH FLOWS FROM INVESTING ACTIVITIES Add: Inflows from investing activities Interest received Income from mutual funds Sale of property, plant and equipment Less: Outflows from investing activities Investment in subsidiaries (Sale) / Purchase of current investments (net) Purchase of property, plant and equipment and intangible assets Net Cash(used in) /generated from investing activities [B] (Decrease) / Increase in other bank balances	20.85 - 1.13	15.22 10.62 0.40
		21.98	26.24
		- (23.78) (1.97) 49.40	14.20 146.35 21.18 15.95
		23.65	197.68

		(1.67)	(171.44)

[C]	CASH FLOWS FROM FINANCING ACTIVITIES Add: Inflows from financing activities Proceeds from issue of equity shares Less: Outflows from financing activities Payment of dividend including dividend distribution tax Repayment of debentures Repayment of lease liability Interest paid Net Cash(used in) /generated from financing activities [C]	5.15	3.75
		5.15	3.75
		150.55 300.00 8.79 58.58	131.17 - - 58.73
		517.92	189.90

		(512.77)	(186.15)

Net increase /(decrease) in cash and cash equivalents(A+B+C)		(93.37)	(56.15)

( a ) Cash and cash equivalents at beginning of the year ( b ) Cash and cash equivalents at end of the year ( c ) Net (decrease) / increase incash and cash equivalents(c =b-a)		116.34 22.97 (93.37)	172.49 116.34 (56.15)
		SHANTAN U Digita KHOS DN: c posta st=M serial 6504

Digitally signed by SHANTANU KHOSLA

DN: c=IN, o=Personal, postalCode=400030, st=MAHARASHTRA, serialNumber=c74ddf8b3c9398f 6504706937e2371e15520a64e77 9957d7d083cc3ba795784b, cn=SHANTANU KHOSLA Date: 2020.05.15 18:07:58 +05'30'

KHOSLA

Notes on Standalone financial results

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1) The above standalone financial results have been reviewed by the Audit Committee and approved by the Board of Directors on 15[th] May, 2020. Audit under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 has been carried out by the statutory auditors. Auditor’s report does not contain any observation which would have an impact on the above results.
2) The listed secured Non-Convertible Debentures of the Company aggregating to ₹ 350 crore as on 31[st] March, 2020 are secured by charge on Company’s certain properties and charge on 'Crompton' Brand and Registered Trade Marks. The asset cover as on 31[st] March, 2020 exceeds one hundred percent of the principal amount.
3) Effective 1[st] April, 2019, the Company adopted Ind AS 116, ‘ Leases ’ and applied the same to lease contracts existing on 1[st] April, 2019, with Right-of-Use asset recognised at an amount equal to the adjusted lease liability amounting to ₹ 50.75 crore. The effect of adoption of the standard is not material on the results.
4) The Company has elected to exercise the option permitted under Section 115BAA of the Income-tax Act, 1961 as introduced by the Taxation Laws (Amendment) Ordinance, 2019. Accordingly, the Company has recognised provision for income tax for year ended 31[st ] March, 2020.
5) Based on an assessment order received during the quarter ended 31[st] December, 2019, the Company has writtenback an amount of ₹ 57.38 crore in respect of an earlier assessment year and the same is netted-off from current tax expense for the quarter ended 31[st] December 2019 and year ended 31[st] March, 2020.
6) During the quarter, 56,900 Equity Shares of face value ₹ 2 each were allotted upon exercise of the vested options under Employee Stock Option Scheme.
7) COVID-19 has caused significant disruptions to businesses across India. The management has considered the possible effects, if any, that may impact the carrying amounts of inventories, receivables and intangibles (including goodwill). In making the assumptions and estimates relating to the uncertainties as at the balance sheet date in relation to the recoverable amounts, the management has considered subsequent events, internal and external information and evaluated economic conditions prevailing as at the date of approval of these financials results. The management expects no impairment to the carrying amounts of these assets. The management will continue to closely monitor any changes to future economic conditions and assess its impact on the operations.

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SHANTA NU KHOSLA

Digitally signed by SHANTANU KHOSLA DN: c=IN, o=Personal, postalCode=400030, st=MAHARASHTRA, serialNumber=c74ddf8b3c9398f6 504706937e2371e15520a64e779 957d7d083cc3ba795784b, cn=SHANTANU KHOSLA Date: 2020.05.15 18:08:37 +05'30'

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8) Note on NCDs Disclosure

Disclosure as per Regulation 52(4) of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015:

Sr. No.	Particulars	Disclosures
1	Debt-EquityRatio(in times)	0.24
2	Previous due date for thepayment of interest for NCDs	24th June,2019
3	Previous due date for thepayment ofprincipal of NCDs	24th June,2019
4	Next due date for thepayment of interest for NCDs	24th June,2020
5	Next due date for thepayment ofprincipal of NCDs	24th June,2020
6	Debt Service Coverage Ratio(in times)	13.82
7	Interest Service Coverage Ratio(in times)	16.12
8	Debenture Redemption Reserve	75.00
9	Net Worth(₹ crore)	1,467.80
10	Netprofit after tax(₹ crore)	494.70
11	Earnings Per Share(Basic) (₹)	7.89
Notes :- a) The credit rating issued by CRISIL for the NCDs (issued by the Company) is 'AA' : b) The Company maintained 100% security cover for the NCDs issued. c) Debt Service Coverage Ratio (DSCR) is ratio of profit after tax plus interest expense plus depreciation to interest expense plus principal repayment during the financial year. d) Interest Service Coverage Ratio (ISCR) is the ratio of earnings before interest, tax and depreciation to interest expense.

9) 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 upto the third quarter of the financial year.
10) Figures of the previous periods have been regrouped, wherever necessary.

For Crompton Greaves Consumer Electricals Limited

Place: Mumbai Date : 15[th] May, 2020

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Digitally signed by SHANTANU KHOSLA DN: c=IN, o=Personal, postalCode=400030, st=MAHARASHTRA, serialNumber=c74ddf8b3c9398f650470 6937e2371e15520a64e779957d7d083c c3ba795784b, cn=SHANTANU KHOSLA Date: 2020.05.15 18:09:29 +05'30'

SHANTAN

U KHOSLA

Shantanu Khosla Managing Director DIN:00059877

SHARP & TANNAN Chartered Accountants

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Firm’s Registration No. 109982W

INDEPENDENT AUDITOR’S REPORT

Holding Company)

Report on the Audit of Consolidated Financial Results

Opinion

We have audited the accompanying Consolidated Annual Financial Results of Crompton Greaves Consumer Electricals Limited (hereinafter referred to as the ‘Holding Company’) and its subsidiaries (the Holding Company and its subsidiaries together referred to as the ‘Group’) for the year ended 31st March, 2020, attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (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 and based on the consideration of reports on separate audited financial statements of the subsidiaries, the aforesaid consolidated financial results:

(i) include the annual financial results of two subsidiaries, namely:
(a) Pinnacles Lighting Project Private Limited – Wholly-owned subsidiary; and
(b) Nexustar Lighting Project Private Limited – Wholly-owned subsidiary;

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

(iii) give a true and fair view in conformity with the applicable accounting standards, and other accounting principles generally accepted in India, of the consolidated net profit and other comprehensive income and other financial information of the Group for the year ended 31st March, 2020.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Companies Act, 2013 (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 (ICAI) together with 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.

Emphasis of Matter

We draw attention to Note 8 to the consolidated financial results which explains COVID-19 that has caused significant disruptions in the business operations of companies across India and has caused significant accounting and auditing challenges. One such challenge being inability for the Company to conduct a physical verification of inventories for the year-end 31st March, 2020 due to Government having imposed restrictions during the lockdown on account of health, travel and safety concerns.

SHARP & TANNAN

SHEET NO:: _____

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Our opinion is not modified in respect of this matter.

Board of Directors’ Responsibilities for the Consolidated Financial Results

These consolidated financial results have been prepared on the basis of the consolidated annual financial statements. The Holding Company’s Board of Directors are responsible for the preparation and presentation of these consolidated financial results that give 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 the relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of 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 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 design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated financial results that give 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 consolidated financial results by the Directors of the Holding Company, as aforesaid.

In preparing the consolidated financial results, 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 companies included in the Group are responsible for overseeing the financial reporting process of the Group.

Auditor’s Responsibilities for the Audit of Consolidated Financial Results

Our objectives are to obtain reasonable assurance about whether the consolidated financial results as a whole are 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 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial results.

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SHARP & TANNAN

SHEET NO:: _____

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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 consolidated financial results, 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, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal 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 consolidated financial results 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 consolidated financial results, including the disclosures, and whether the consolidated financial results 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 consolidated financial results. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the consolidated financial results of which we are the independent auditors. 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 consolidated financial results 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 perform the procedures in accordance with the Circular issued by the SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.

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SHARP & TANNAN

SHEET NO:: _____

==> picture [45 x 8] intentionally omitted <==

Other Matter

The annual consolidated financial results include the results for the quarter ended 31st March, 2020 being the balancing figure between the audited figures in respect of the full financial year and the published unaudited figures up to the third quarter of the current financial year which were subject to limited review by us.

SHARP & TANNAN Chartered Accountants by the hand of

Firm’s Registration No.109982W

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Partner Membership No. 043385 UDIN: 20043385AAAACL8391

Mumbai, 15th May, 2020

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STATEMENT OF CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2020

(₹ crore)

					(₹ crore)	(₹ crore)
Sr. No.	Particulars	Quarter Ended			Year Ended
		31.03.2020	31.12.2019	31.03.2019	31.03.2020	31.03.2019
		Audited (refer note 10)	Unaudited	Audited (refer note 10)	Audited	Audited
1	Income (a) Revenue from operations (b) Other income	1,026.34 11.96	1,071.29 17.54	1,206.88 16.96	4,520.26 59.05	4,478.91 48.01
	Total income	1,038.30	1,088.83	1,223.84	4,579.31	4,526.92
2	Expenses (a) Cost of materials consumed (b) Purchases of stock-in-trade (c) Changes in inventories of finished goods, stock-in-trade and work-in-progress (d) Employee benefits expense (e) Finance costs (f) Depreciation and amortisation expense (g) Otherexpenses	270.45 525.93 (94.99) 70.61 8.25 8.20 113.13	216.41 520.20 (7.65) 77.36 8.72 6.42 128.29	280.93 556.42 (4.11) 76.50 14.32 3.30 130.07	979.46 2,217.16 (126.29) 310.95 40.67 26.79 539.88	1,056.49 2,058.62 (23.29) 291.88 59.60 12.89 510.89
	Total expenses	901.58	949.75	1,057.43	3,988.62	3,967.08
3	Profit before tax (1-2)	136.72	139.08	166.41	590.69	559.84
4	Tax expense (Refer notes 5 & 6)
	a) Current tax	31.92	(17.49)	29.53	84.00	171.12
	b)Deferred tax	2.70	(4.40)	(3.66)	10.30	(12.67)
5	Profit for the period/year (3-4)	102.10	160.97	140.54	496.39	401.39
6	Other comprehensive income /(loss)
	(i) Items that will not be reclassified to profit or loss - Remeasurements gain/ (loss) ondefined benefit plans	(3.48)	0.20	0.62	(2.88)	0.80
	(ii) Income tax relating to items that will not be reclassified to profit or loss	0.88	(0.05)	(0.22)	0.73	(0.28)
	Other comprehensive income /(loss)	(2.60)	0.15	0.40	(2.15)	0.52
7	Total comprehensive income (5+6)	99.50	161.12	140.94	494.24	401.91
8	Paid-upEquityshare capital of ₹ 2 each	125.46	125.45	125.40	125.46	125.40
9	Other Equity				1,342.88	971.94
10	NetWorth				1,468.34	1,097.34
11	Paid-upDebt Capital /OutstandingDebt				349.72	649.26
12	DebtEquityRatio				0.24	0.59
13	Earnings Per Share (of ₹ 2 each) (Not annualised)* (a) Basic (in ₹) (b)Diluted(in ₹)	1.63 1.62	2.57 2.55	2.24 2.23	7.92 7.85	6.40 6.36
14	Debt Service CoverageRatio				13.86	7.95
15	Interest Service CoverageRatio				16.18	10.61

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SHANTA NU

KHOSLA

Digitally signed by SHANTANU KHOSLA DN: c=IN, o=Personal, postalCode=400030, st=MAHARASHTRA, serialNumber=c74ddf8b3c9398f6 504706937e2371e15520a64e7799 57d7d083cc3ba795784b, cn=SHANTANU KHOSLA Date: 2020.05.15 18:10:41 +05'30'

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CONSOLIDATED SEGMENT-WISE REVENUE, RESULTS, ASSETS AND LIABILITIES FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2020

		(₹ crore)	(₹ crore)	(₹ crore)	(₹ crore)	(₹ crore)
Sr.	Particulars	Quarter Ended			Year Ended
No.		31.03.2020	31.12.2019	31.03.2019	31.03.2020	31.03.2019
		Audited (refer note 10)	Unaudited	Audited (refer note 10)	Audited	Audited
1	Segment Revenue a) Electric Consumer Durables	741.09 285.25 1,026.34 -	786.95 284.34 1,071.29 -	864.36 342.52 1,206.88 -	3,389.04 1,131.22 4,520.26 -	3,213.57 1,265.34 4,478.91 -
	b) Lighting Products
	Total Less: Inter-SegmentRevenue
	Total Income from operations	1,026.34	1,071.29	1,206.88	4,520.26	4,478.91
2	Segment Results : (Profit before tax and finance costs from each segment) a) Electric Consumer Durables b) Lighting Products Total	148.20 21.86 170.06 8.25 25.09	156.14 19.55 175.69 8.72 27.89	168.46 39.26 207.72 14.32 26.99	673.10 70.59 743.69 40.67 112.33	616.15 106.87 723.02 59.60 103.58
	Less: (i) Finance costs (ii) Other un-allocable expenditure net of un-allocatedincome
	Profit from ordinary activities before tax	136.72	139.08	166.41	590.69	559.84
3	Segment Assets a) Electric Consumer Durables b) Lighting Products c) Unallocable	721.88 501.12 1,528.82	663.61 502.18 1,475.44	606.19 497.33 1,566.13	721.88 501.12 1,528.82	606.19 497.33 1,566.13
	Total Segment Assets	2,751.82	2,641.23	2,669.65	2,751.82	2,669.65
4	Segment Liabilities a) Electric Consumer Durables b) Lighting Products c) Unallocable	479.17 391.48 412.83	472.65 398.00 408.49	384.81 453.35 734.15	479.17 391.48 412.83	384.81 453.35 734.15
	Total Segment Liabilities	1,283.48	1,279.14	1,572.31	1,283.48	1,572.31

		SHANTA NU Digitally signed b KHOSLA DN: c=IN, o=Perso postalCode=4000 st=MAHARASHTR

SHANTA NU

Digitally signed by SHANTANU KHOSLA DN: c=IN, o=Personal, postalCode=400030, st=MAHARASHTRA, serialNumber=c74ddf8b3c9398f6 504706937e2371e15520a64e779 957d7d083cc3ba795784b, cn=SHANTANU KHOSLA Date: 2020.05.15 18:11:26 +05'30'

KHOSLA

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CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES

		(₹ crore) As at 31.03.2020 As at 31.03.2019 Audited Audited 125.06 78.55 19.90 0.98 779.41 779.41 4.50 5.19 7.82 9.95 50.67 60.25 22.79 15.45 1,010.15 949.78 463.61 352.38 540.82 541.21 463.46 565.98 24.03 116.98 24.09 26.07 12.77 12.42 78.84 18.09 134.05 86.74 1,741.67 1,719.87 2,751.82 2,669.65 125.46 125.40 1,342.88 971.94 1,468.34 1,097.34 179.72 349.26 19.11 17.29 198.83 366.55 3.30 9.19 640.27 655.82 217.14 365.69 58.31 23.25 165.51 151.81 0.12 - 1,084.65 1,205.76 2,751.82 2,669.65 SHANTAN U KHOSLA	(₹ crore) As at 31.03.2020 As at 31.03.2019 Audited Audited 125.06 78.55 19.90 0.98 779.41 779.41 4.50 5.19 7.82 9.95 50.67 60.25 22.79 15.45 1,010.15 949.78 463.61 352.38 540.82 541.21 463.46 565.98 24.03 116.98 24.09 26.07 12.77 12.42 78.84 18.09 134.05 86.74 1,741.67 1,719.87 2,751.82 2,669.65 125.46 125.40 1,342.88 971.94 1,468.34 1,097.34 179.72 349.26 19.11 17.29 198.83 366.55 3.30 9.19 640.27 655.82 217.14 365.69 58.31 23.25 165.51 151.81 0.12 - 1,084.65 1,205.76 2,751.82 2,669.65 SHANTAN U KHOSLA
	Particulars	As at 31.03.2020	As at 31.03.2019
		Audited	Audited
A 1 2 B 1 2	ASSETS Non-current Assets: (a) Property, plant and equipment (b) Capital work-in-progress (c) Goodwill (d) Other intangible assets (e) Financial assets (i) Others (f) Deferred tax assets (net) (g) Other non-current assets Sub-total - Non-current Assets Current Assets (a) Inventories (b) Financial assets (i) Investments (ii) Trade receivables (iii) Cash and cash equivalents (iv) Bank balances other than (iii) above (v) Others (c) Current tax asset (net) (d) Other current assets Sub-total - Current Assets	125.06 19.90 779.41 4.50 7.82 50.67 22.79	78.55 0.98 779.41 5.19 9.95 60.25 15.45
		1,010.15	949.78
		463.61 540.82 463.46 24.03 24.09 12.77 78.84 134.05	352.38 541.21 565.98 116.98 26.07 12.42 18.09 86.74
		1,741.67	1,719.87

	Total - Assets	2,751.82	2,669.65
	EQUITY AND LIABILITIES Equity (a) Equity Share capital (b) Other equity Sub-total - Equity Liabilities Non-current Liabilities: (a) Financial Liabilities (i) Borrowings (b) Provisions Sub-total - Non-current Liabilities Current Liabilities (a) Financial liabilities (i) Trade payables (a) Due to micro and small enterprises (b) Due to creditors other than micro and small enterprises (ii) Other financial liabilities (b) Other current liabilities (c) Provisions (d) Current tax liabilities (net) Sub-total - Current Liabilities	125.46 1,342.88	125.40 971.94
		1,468.34	1,097.34
		179.72 19.11	349.26 17.29
		198.83	366.55
		3.30 640.27 217.14 58.31 165.51 0.12	9.19 655.82 365.69 23.25 151.81 -
		1,084.65	1,205.76

	Total - Equity and Liabilities	2,751.82	2,669.65

Digitally signed by SHANTANU KHOSLA DN: c=IN, o=Personal, postalCode=400030, st=MAHARASHTRA, serialNumber=c74ddf8b3c9398f65 04706937e2371e15520a64e77995 7d7d083cc3ba795784b, cn=SHANTANU KHOSLA Date: 2020.05.15 18:12:08 +05'30'

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CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH, 2020

		(₹ crore)	(₹ crore)
Particulars		2019-20	2018-19
		Audited	Audited
[A]	CASH FLOWS FROM OPERATING ACTIVITIES Profit before tax Adjustments for: Depreciation and amortisation expense Interest expense Loss on sale of property, plant and equipment Provision for expenses on employee share options Net (gain) / loss on sale/ fair valuation of investments Interest income Income from mutual funds Unrealised exchange loss / (gain) (net) Cash Generated from operations before working capital changes Adjustments for Decrease / (Increase) in trade and other receivables (Increase) / Decrease in inventories (Decrease) / Increase in trade and other payables Increase / (Decrease) in provisions Cash generated from operations Taxes paid (net of refunds) Net cash(used in) /generated from operating activities [A]	590.69	559.84
		26.79 40.67 0.15 22.83 (33.96) (23.38) - 3.84	12.89 59.60 0.09 34.43 (16.16) (19.74) (10.63) (1.28)
		36.94	59.20
		627.63	619.04
		59.51 (111.23) (33.00) 12.64	(19.44) (49.14) (107.77) 55.59
		(72.08)	(120.76)
		555.55 (144.63)	498.28 (199.35)
		410.92	298.93

[B]	CASH FLOWS FROM INVESTING ACTIVITIES Add: Inflows from investing activities Interest received Income from mutual funds Sale of property, plant and equipment Less: Outflows from investing activities Purchase / (sale) of current investments (net) Purchase of property, plant and equipment and intangible assets Net Cash(used in) /generated from investing activities [B] Increase / (Decrease) in other bank balances	20.85 - 1.13	15.28 10.63 0.40
		21.98	26.31
		(34.35) (1.97) 49.40	157.47 21.18 15.95
		13.08	194.60

		8.90	(168.29)

[C]	CASH FLOWS FROM FINANCING ACTIVITIES Add: Inflows from financing activities Proceeds from issue of equity shares Less: Outflows from financing activities Payment of dividend including dividend distribution tax Repayment of debentures Repayment of lease liability Interest paid Net Cash(used in) /generated from financing activities [C]	5.15	3.75
		5.15	3.75
		150.55 300.00 8.79 58.58	131.17 - - 58.73
		517.92	189.90

		(512.77)	(186.15)

Net increase /(decrease) in cash and cash equivalents(A+B+C)		(92.95)	(55.51)

( a ) Cash and cash equivalents at beginning of the year ( b ) Cash and cash equivalents at end of the year ( c ) Net (decrease) / increase incash and cash equivalents(c =b-a)		116.98 24.03 (92.95)	172.49 116.98 (55.51)
		SHANTAN U KHOSLA Digitally signed by SHA DN: c=IN, o=Personal, postalCode=400030, st serialNumber=c74ddf8 37e2371e15520a64e77 795784b, cn=SHANTAN Date: 2020.05.15 18:12:

Digitally signed by SHANTANU KHOSLA DN: c=IN, o=Personal, postalCode=400030, st=MAHARASHTRA, serialNumber=c74ddf8b3c9398f65047069 37e2371e15520a64e779957d7d083cc3ba 795784b, cn=SHANTANU KHOSLA Date: 2020.05.15 18:12:50 +05'30'

Notes on Consolidated financial results:

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1) The above consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors on 15th May, 2020. Audit under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 has been carried out by the statutory auditors. Auditor’s report does not contain any observation which would have an impact on the above results.
2) The above results comprise the results of Crompton Greaves Consumer Electricals Limited (Parent Company) and two subsidiary companies.
3) The listed secured Non-Convertible Debentures of the Parent Company aggregating to ₹ 350 crore as on 31[st] March, 2020 are secured by charge on Parent Company’s certain properties and charge on 'Crompton' Brand and Registered Trade Marks. The asset cover as on 31[st] March, 2020 exceeds one hundred percent of the principal amount.
4) Effective 1[st] April, 2019, the Parent Company and its subsidiaries adopted Ind AS 116, ‘Leases’ and applied the same to lease contracts existing on 1[st] April, 2019, with Right-of-Use asset recognised at an amount equal to the adjusted lease liability amounting to ₹ 50.75 crore. The effect of adoption of the standard is not material on the results.
5) The Parent Company and its subsidiaries have elected to exercise the option permitted under Section 115BAA of the Income-tax Act, 1961 as introduced by the Taxation Laws (Amendment) Ordinance, 2019. Accordingly, the Parent Company and its subsidiaries have recognised provision for income tax for year ended 31[st ] March, 2020.
6) Based on an assessment order received during the period ended 31[st] December, 2019, the Parent Company has written-back an amount of ₹ 57.38 crore in respect of an earlier assessment year and the same is netted-off from current tax expense for the quarter ended 31[st] December 2019 and year ended 31[st] March, 2020.
7) During the quarter, the Parent Company allotted 56,900 Equity Shares of face value ₹ 2 each upon exercise of the vested options under its Employee Stock Option Scheme.
8) COVID-19 has caused significant disruptions to businesses across India. The management has considered the possible effects, if any, that may impact the carrying amounts of inventories, receivables and intangibles (including goodwill). In making the assumptions and estimates relating to the uncertainties as at the balance sheet date in relation to the recoverable amounts, the management has considered subsequent events, internal and external information and evaluated economic conditions prevailing as at the date of approval of these financials results. The management expects no impairment to the carrying amounts of these assets. The management will continue to closely monitor any changes to future economic conditions and assess its impact on the operations.

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Digitally signed by SHANTANU KHOSLA DN: c=IN, o=Personal, postalCode=400030, st=MAHARASHTRA, serialNumber=c74ddf8b3c9398f6 504706937e2371e15520a64e779 957d7d083cc3ba795784b, cn=SHANTANU KHOSLA Date: 2020.05.15 18:13:43 +05'30'

SHANTA NU KHOSLA

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9) Note on NCDs Disclosure

Disclosure as per Regulation 52(4) of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015:

Sr. No.	Particulars	Disclosures
1	Debt-EquityRatio(in times)	0.24
2	Previous due date for thepayment of interest for NCDs	24th June,2019
3	Previous due date for thepayment ofprincipal of NCDs	24th June,2019
4	Next due date for thepayment of interest for NCDs	24th June,2020
5	Next due date for thepayment ofprincipal of NCDs	24th June,2020
6	Debt Service Coverage Ratio(in times)	13.86
7	Interest Service Coverage Ratio(in times)	16.18
8	Debenture Redemption Reserve	75.00
9	Net Worth(₹ crore)	1,468.34
10	Netprofit after tax(₹ crore)	496.39
11	Earnings Per Share(Basic) (₹)	7.92
Notes :- a) The credit rating issued by CRISIL for the NCDs (issued by the Company) is 'AA' : b) The Company maintained 100% security cover for the NCDs issued. c) Debt Service Coverage Ratio (DSCR) is ratio of profit after tax plus interest expense plus depreciation to interest expense plus principal repayment during the financial year. d) Interest Service Coverage Ratio (ISCR) is the ratio of earnings before interest, tax and depreciation to interest expense.

10) 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 upto the third quarter of the financial year.
11) Figures of the previous periods have been regrouped, wherever necessary.

For Crompton Greaves Consumer Electricals Limited

Place: Mumbai Date : 15th May, 2020

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Digitally signed by SHANTANU KHOSLA DN: c=IN, o=Personal, postalCode=400030, st=MAHARASHTRA, serialNumber=c74ddf8b3c9398f6 504706937e2371e15520a64e7799 57d7d083cc3ba795784b, cn=SHANTANU KHOSLA Date: 2020.05.15 18:14:28 +05'30'

SHANTAN U KHOSLA

Shantanu Khosla Managing Director DIN:00059877

Crompton Greaves Consumer Electricals Limited

Results for Quarter and Year Ended March 2020

Q4FY20: Revenue at Rs 1,018 Crs, PAT at Rs 100 Crs

FY20: Revenue at Rs 4,512 Crs, PAT at Rs 495 Crs

Mumbai, May 15, 2020: The Board of directors, at its meeting held on 15[th] May 2020 approved the results of the Company for the quarter and year ended 31[st] March 2020. Total Income for the quarter was Rs. 1,018 Crs. Growth remained strong across all products till the lockdown (Jan and Feb growth 14% Y-o-Y). Market share increased in Fans and Consumer Lighting. Appliances business continued to deliver strong double digit growth based on excellent consumer offerings behind Coolers and Geysers.

PBT margin increased sequentially with strengthened cost reduction programmes neutralizing the adverse volume impact due to Covid- 19.

Given the uncertain economic outlook, the Board considered it prudent not to recommend any Dividend for FY20.

Commenting on the Quarter results, Company’s Managing Director, Shantanu Khosla said “We had strong growth momentum in January and February across all product categories.However, Covid - 19 had a significant adverse impact on the Company’s performance for the quarter. Our robust cost reduction programs ensured we maintained our profitability even in these difficult times.

Our strong balance sheet ensures we are well positioned to navigate the uncertain times ahead. The Company’s top most priority is to ensure the safety and well being of all our employees and partners as we start up operations after the period of lock down. We remain focused on managing our cash and costs during this uncertain period.”

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.

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Crompton Greaves Consumer Electricals Limited — Earnings Release 2020

60950_rns_2020-05-15_465230df-f3de-4bfd-95cc-1a04f6e38d93.pdf

Date: May 15, 2020

Sub: Outcome of Meeting of the Board held on May 15, 2020 under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Crompton Greaves Consumer Electricals Limited

For Crompton Greaves Consumer Electricals Limited

Encl: A/a

Annexure A

Brief Profile:

Mr. P.M. Murty

Mr. D. Sundaram

Mr. H.M. Nerurkar

Crompton Greaves Consumer Electricals Limited

Mr. Shantanu Khosla

Firm’s Registration No. 109982W

INDEPENDENT AUDITOR’S REPORT

To the Board of Directors of Crompton Greaves Consumer Electricals Limited

Report on the Audit of the Standalone Financial Results

Opinion

Basis for Opinion

Emphasis of Matter

Management’s Responsibilities for the Standalone Financial Results

Auditor’s Responsibilities for the Audit of the Standalone Financial Results

Other Matter

SHANTA

STANDALONE SEGMENT-WISE REVENUE, RESULTS, ASSETS AND LIABILITIES FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2020

STANDALONE STATEMENT OF ASSETS AND LIABILITIES

STANDALONE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH, 2020

Notes on Standalone financial results

8) Note on NCDs Disclosure

For Crompton Greaves Consumer Electricals Limited

SHANTAN

U KHOSLA

INDEPENDENT AUDITOR’S REPORT

Holding Company)

Report on the Audit of Consolidated Financial Results

Opinion

Basis for Opinion

Emphasis of Matter

Board of Directors’ Responsibilities for the Consolidated Financial Results

Auditor’s Responsibilities for the Audit of Consolidated Financial Results

Other Matter

SHANTA NU

CONSOLIDATED SEGMENT-WISE REVENUE, RESULTS, ASSETS AND LIABILITIES FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2020

SHANTA NU

CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH, 2020

Notes on Consolidated financial results:

SHANTA NU KHOSLA

9) Note on NCDs Disclosure

Crompton Greaves Consumer Electricals Limited

Results for Quarter and Year Ended March 2020

About Crompton:

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