Crompton Greaves - Q3 Result Review - Emkay

Net sales at Rs 2972 cr vs Rs 3028 cr, down 1.8% (estimate of Rs 3215 cr) Net loss of Rs 189 cr vs PAT of Rs 77 cr (estimate of Rs 70 cr PAT) Adjusted loss of Rs 69 cr (one off of Rs 120cr) EBITDA at Rs 2 cr vs Rs 183 cr (estimate of Rs 161 cr) Margins at 0.1% vs 6.0% (estimate of 5%) Belgium plant restructuring costs at Rs 120 cr Other restructuring costs at Rs 108 cr.

Degrowth in power and industrial biz in both domestic and international biz Growth only came from consumer business in domestic markets Degrowth in power margins in both markets Power margins in domestic markets fall to 7.9% from 11.1% Power margins in international markets fall -13.8% from -2% Degrowth of margins in consumer business Stable margins in industrial business of company.

Net sales at Rs 1746 cr vs Rs 1624 cr, up 7.5% (est of 1840 cr) Net profit at Rs 106 cr vs Rs 127 cr, down 16% (est of 134 cr) EBITDA at Rs 132 cr vs Rs 175cr, down 25% (est of 181 cr) Margins at 7.6% vs 10.7% (est of 9.8%).

Net sales of Rs 1226 cr vs Rs 1404 cr, down 13% (est of 1375 cr) Net loss of Rs 295 cr vs loss of Rs 50 cr (est of 64 cr loss) Adjusted net loss at Rs 175 cr (one off of Rs 120cr) Margins at -10.6% vs 0.6% (est of -1.5%).

Source : Equity Bulls

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