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Crompton Greaves bleeds - Views on News from Equitymaster
 
 
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  • May 24, 2000

    Crompton Greaves bleeds

    Crompton Greaves Limited (CGL), India`s largest private sector electrical equipment manufacturer has posted dismal results in FY2000. The company posted a net loss of Rs 1.5 bn during the year.

    (Rs m) FY99 FY00 Change
    Sales 16,979 16,855 -0.7%
    Other Income 145 160 10.6%
    Expenditure 15,606 16,764 7.4%
    Operating Profit (EBDIT) 1,373 91 -93.4%
    Operating Profit Margin (%) 8.1% 0.5%  
    Interest 791 1,127 42.5%
    Depreciation 456 587 28.9%
    Profit before Tax 241 (1,463)  
    Tax 10 3 -75.0%
    Profit after Tax/(Loss) 231 (1,466)  
    Net profit margin (%) 1.4% -8.7%  
    Earnings per share 4.4 (28.05)  

    The company's turnover saw a marginal decline but its earnings were hit because of higher interest burden and depreciation provisioning. A significant 49% decline in the company's export earnings also added to its woes.

    The company has not declared a dividend in view of its negative performance.

     

     

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