CG Announces 66pct Orders Increase in 2011 (India)

Crompton Greaves (CG), announced 66% increase in Orders for the quarter ended December 31st, 2011 at Rs 3401crores as compared to Rs 2052crore in the same period of last fiscal. . Growth has been particularly strong in India and Europe where CG innovative solutions in Extra High Voltage , Renewables and Large Industrial Motors have been successfully launched.

Its Net Sales for the quarter ended December 31st, 2011 at Rs 3028 crores which is a 26% growth as compared to Rs 2397 crore in the same period of last fiscal with overall growth seen at 26%.

The EBIDTA during the quarter stood at Rs. 183 crore as against Rs 340 crore in Q3 FY11. Net Profit for the quarter stood at Rs 77 crore as against Rs 233crore in Q3FY11.

Total order book at the end of December 2011 was recorded at Rs 8183 crore.

During the quarter the revenues from Power business rose by 17.5 % to Rs 2069 crore. The Industrial business grew by 2% to Rs 475 crore whereas the consumer business posted a rise of 5% at Rs. 503 crore as compared to the Q2 FY12.

For the nine-months ended December 31st, 2011, Net Sales was at Rs 8171 crore posting a rise of 15% as compared to Rs 7097 crore in December 31st, 2010. During the same period, Net Profit stood at Rs. 273 crore as against Rs 637 crore in nine-month period of last fiscal.

Commenting on the results, Mr. Laurent Demortier, CEO & Managing Director, CG said: “In the midst of global uncertainties and tough macroeconomic environment both domestically and abroad, the quarter gone by has been very encouraging for CG. Across our three businesses, our growth is fueled by the introduction of new energy efficient product and services. Our efforts to gain foot hold in global markets are on track.”

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Offshore Wind Staff, February 8, 2012; Image : CG