CG announces Q1 FY 14 results – strong sales and recovery of international operations

CG announces Q1 FY 14 results – strong sales and recovery of international operations

CG announces Q1 FY 14 results – strong sales and recovery of international operations

Mumbai, August 06, 2013 : Avantha Group Company CG today announced its financial results for the first quarter ended June 30, 2013.

Performance Highlights – Q1 FY 2014

• Q1 FY14 – received orders worth Rs. 2441 crores
• Backlog orders at a record high – Rs. 9771 crores
• Q1 FY14 Revenues up by 12.3% over Q1 FY13 – Rs. 3157 crores
• EBITDA  at 4.6% doubles over Q4 FY13
• PAT Rs. 60 crores for Q1 FY14 vs Rs. 25 crores in Q4 FY13  

Highlights of Q1 FY 2014

• Power business back to profitability reflecting improvement in performance in Belgium and Hungary
• Restructuring operations in Belgium completed and savings realized
• Bagged contract from Power Grid Corporation of India (PGCIL) for 765 kV Power Transformer valued at Rs 231.7 crores
• Sustained orders from Railway segment in India received orders worth Rs. 176 crores
• Successful exports of energy efficient motors from India

CEO and Managing Director, Laurent Demortier of Avantha Group Company CG said, “Q1 FY14 has been an encouraging quarter for CG, despite a challenging market environment. The strategic alignment in our POWER Transmission business in Belgium and Hungary has started to take shape and is on the path to recovery.  The overall savings program across businesses and regions is on track. The performance of all our businesses in India, have shown significant improvement.”

About Avantha Group Company CG

CG is a global pioneering leader in the management and application of electrical energy. With more than 15,000 employees across its operations in around 85 countries, CG provides electrical products, systems and services for utilities, power generation, industries, and consumers. The company is organized into four business groups: Power, Industrial, Automation and Consumer. CG clocks US$ 2.3 billion in revenues from product lines that cover the entire value chain of engineering offerings.

For more information on CG, please visit: www.cgglobal.com.

About Avantha

The US$4bn Avantha Group is one of India`s leading business conglomerates. Its successful entities include BILT, Crompton Greaves, The Global Green Company, Avantha Power & Infrastructure, Solaris ChemTech Industries, Biltech Building Elements, Salient Business Solutions and Avantha Technologies. With a global footprint, the Group operates in 90 countries with more than 25,000 employees worldwide. The Group has business interests in diverse areas including power transmission and distribution equipment and services, paper and pulp, energy and infrastructure, food processing, farm forestry, insurance, chemicals, IT and ITES. Led by Gautam Thapar, Avantha demonstrates strong leadership globally and emerges as a focused corporate, leveraging its knowledge, leadership and operations, adding lasting value for its stakeholders and investors.

For more information on Avantha, please visit www.avanthagroup.com.

For further information, please contact:

Ms. Paula Sengupta Global Head – Corp. Comms.  CG (Crompton Greaves Limited) CG House, 1st floor Worli, Mumbai 400 030, India	Mrs. Shravani Dang Group Head – Corporate Communications Vice President – Avantha Group 5th Floor, Tower C, First India Place,  MG Road Gurgaon-122002, Haryana, India
T: +91 22 24237516 / 67558771 paula.sengupta@cgglobal.com	T : +91 124 4099436 s.dang@avanthagroup.com

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CG announces Q1 FY 14 results – strong sales and recovery of international operations

 

Avantha Group Company CG today announced its financial results for the first quarter ended June 30, 2013.

Performance Highlights‐ Q1 FY 2014

•    Q1 FY14 – received orders worth Rs. 2441 crores

•    Backlog orders at a record high – Rs. 9771 crores

•    Q1 FY14 Revenues up by 12.3% over Q1 FY13 – Rs. 3157 crores

•    EBITDA  at 4.6% doubles over Q4 FY13

•    PAT Rs. 60 crores for Q1 FY14 vs Rs. 25 crores in Q4 FY13

Highlights of Q1 FY 2014

•    Power business back to profitability reflecting improvement in performance in Belgium and Hungary.

•    Restructuring operations in Belgium completed and savings realized

•    Bagged contract from Power Grid Corporation of India (PGCIL) for 765 kV Power transformer valued at Rs 231.7 crore

•    Sustained orders from Railway segment in India received orders worth Rs. 176 crores

•    Successful exports of energy efficient motors from India

CEO and Managing Director, Laurent Demortier of Avantha Group Company CG said “Q1

FY14 has been an encouraging quarter for CG, despite a challenging market environment. The strategic alignment in our POWER Transmission business in Belgium and Hungary has started to take shape and is on the path to recovery.  The overall savings program across businesses and regions is on track. The performance of all our businesses in India, have shown significant improvement”.

 

 

Why Avantha?

The US$ 4 bn Avantha Group is one of India’s leading business conglomerates. The Group has business interests in diverse areas, including pulp and paper, power transmission and distribution equipment and services, food processing, farm forestry, chemicals, energy and infrastructure, IT and ITeS. With an impressive global footprint that spans Asia, Europe and North America, Avantha operates in more than 10 countries, employing 20,000 people of over 20 nationalities. Avantha is known for its positive work culture that rewards innovation, breeds initiative and encourages intelligent risk-taking. In recent years, Avantha has evolved into a dynamic and knowledge-driven organisation that inspires employees to collaborate and draw from a common knowledge pool, while helping the organisation leverage diverse intellectual insights. Avantha demonstrates strong leadership globally and emerges as a focused corporate, leveraging its knowledge, leadership and operations, adding lasting value for its stakeholders and investors. A global employer of choice, Avantha offers excellent opportunities for growth and self-development.

Crompton Greaves Wins Wind Onshore Projects in France

Mumbai, Maharashtra, India, Wednesday, July 03, 2013 -- (Business Wire India)

• Will produce electricity for over 55,000 households

• Estimated reduction in emissions - 130.000 tons of CO2 per year.

Avantha Group Company CG has been awarded a contract worth € 3.5Mn for the design, engineering, supply, installation & commissioning of a “WINDSUB” (wind farm substation) at the 75 MW Seine Rive Gauche Nord wind farm in France, located in the Aube department on the left bank of the river. CG will also be responsible for upgrading/building the overall electrical system.
The project scope includes all electrical, mechanical and civil engineering works, supply of two 45 MVA step-up power transformers, medium voltage and high voltage Air Insulated Switchgear (AIS), Substation Automation System (SAS), buildings and ancillaries.
The substation will help to integrate wind energy and boost power supplies to meet the growing residential demand besides reinforcing the transmission grid and improving reliability, efficiency and power quality. The total 150GWh of installed capacity will produce electricity for over 55,000 households with an estimated reduction in emissions of 130.000 tons of CO2 per year.
The project is scheduled for completion by mid 2014. Substations include equipments that protect and control the flow of electric power, transform voltage levels and facilitate the safe and efficient transmission and distribution of electricity in the grid.
CG was successful against established industry competition in securing this second reference project in the French renewable sector after the 225kV wind substation commissioned in 2011 for VALECO's wind farm “Les monts de Lacaune”.
Commenting on this win, Avantha Group Company CG's CEO & Managing Director, Mr. Laurent Demortier said: “This is yet another proud moment for us. We thank Nordex and H2air for awarding CG the contract. This win demonstrates CG's local project management strengths, and on and offshore track record besides our cost-efficient approach in offering turnkey “design and build” grid infrastructure solutions. The contract is recognition of our offerings and expertise in the renewable energy sector and our commitment to support France's renewal goal and the growing regional electricity needs”.
About Avantha Group Company CG
Avantha Group Company CG is a global pioneering leader in the management and application of electrical energy. With more than 15,000 employees across its operations in around 85 countries, CG provides electrical products, systems and services for utilities, power generation, industries, and consumers. The company is organized into four business groups: Power, Industrial, Automation and Consumer. CG clocks US$ 2.3 billion in revenues from product lines that cover the entire value chain of engineering offerings.
For more information on CG, please visit: www.cgglobal.com.

Avantha Group: Global Green Recognition Award from YUM! India

Yum! India awarded “Recognition Award for 2013” to Global Green during a felicitation ceremony held on 4^th July 2013 at J W Marriot, Chandigarh during YUM! Supplier Conference 2013.
The award from YUM! India is recognition for Global Green’s integrated tomato paste project – the project has helped YUM! India to achieve 100% localisation of tomato paste.
The award was presented by Mr. Vijay Sukumar, Chief – Food Innovation & Quality Assurance and Mr. Mr.Sunay Bhasin, Director Marketing – PH Dining, YUM! India to Mr.Ravi Jadeja, VP Sales (India, Russia & Middle East), Global Green
The conference is an annual event and was attended by the leader’s hip and management Team of YUM! consisting of more than 150 delegates from a wide base of national and international suppliers of YUM! YUM!  Has 39,000 outlets worldwide and YUM! India has now 600 outlets in India (KFC, Pizza Hut, Pizza Hut Delivery and Taco Bell).  YUM! India became the fastest growing multinational QSR chain in India during 2012 by opening 138 outlets in one year and it has a very clear and aggressive store opening plan to achieve a target of 1000 outlets by 2015 and 2000 outlets by 2020.
Yum! though its stringent process of selecting best-in-class suppliers has rightly selected Global Green who already have vast and varied experiences in global food safety, quality and customer servicing. Both companies are looking forward to a synergistic relationship that will be nefit each other in the long run. http://www.globalgreencompany.com/