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Crompton Greaves: In a state of flux - Views on News from Equitymaster
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Crompton Greaves: In a state of flux
Feb 11, 2016

Crompton Greaves has announced third quarter results of financial year 2015-16 (3QFY16). The company has reported 14.2% YoY fall in topline. The company reported a loss of Rs 748 million. Here is our analysis of the results.

Performance summary

  • Consolidated topline falls by about 14% YoY during the quarter.
  • Operating profits fell by 86% YoY during the quarter. Operating margins contracted to 0.4% during the quarter.
  • Reports a loss of Rs 748 million during the quarter.

Consolidated snapshot

(Rs m) 3QFY15 3QFY16 Change 9mFY15 9mFY16 Change
Net sales 24,093 20,678 -14.2% 72,952 63,704 -12.7%
Expenditure 23,467 20,592 -12.2% 70,837 63,070 -11.0%
Operating profit (EBDITA) 627 86 -86.3% 2,115 634 -70.0%
EBDITA margin (%) 2.6% 0.4%   2.9% 1.0%  
Other income 271 197 -27.2% 1,170 793 -32.3%
Interest (net) 311 147 -52.7% 845 471 -44.3%
Depreciation 603 642 6.5% 1,813 1,881 3.7%
Exceptional items 2,671 214   2,650 1,048  
Profit before tax 2,655 (292) -111.0% 3,277 123 -96.2%
Tax 489 459 -6.0% 973 1,070 9.9%
Share of profit in associates (2) 1   4 21 427.5%
Minority interest 17 2   16 14 -12.4%
Profit after tax/(loss) 2,182 (748)   2,324 (911) -139.2%
Net profit margin (%) 9.1% -3.6%   3.2% -1.4%  
No. of shares (m)         626.8  
Diluted earnings per share (Rs)*         -4.9  
Price to earnings ratio (x)*         NA  
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