Crompton Greaves - AR2013: Expecting improvement over FY2013 with cautious broad market outlook - Kotak

The annual report explains poor FY2013 performance with improving but cautious FY2014 outlook on tough market environment. Key takeaways include (1) cash flows and returns (standalone) remain strong, (2) consumer product lines do well and outpace market, (3) industrial capacities start (motors, drives), (4) losses in Canada (Rs1 bn) is a worry as that may fester even as Hungary and Belgium are under control.

Retain ADD.

Source : Equity Bulls

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