Crompton Greaves Ltd.

completed

Crompton Greaves Limited (CGL; the company; or BSE: 500093) is the flagship company in the BM Thapar Group, and is one of the largest players in India in the electrical equipment and engineering industry. CGL makes a wide range of transformers, switchgear, motors, lighting products, fans, railway-signaling equipment, and undertakes turnkey engineering projects. CGL’s business operations are organized into four Strategic Business Groups (SBGs) namely power systems, industrial systems, consumer products, and digital (networking and telecommunication). The net turnover of the company in FY03 was $328 million equivalent. The company has requested IFC to provide a corporate loan of up to $25 million in support of its ongoing financial and operational restructuring efforts. The proposed corporate investment and debt restructuring program would enable CGL to further cut costs and enhance the competitiveness of its products in both domestic and international markets and increase the average maturity of CGL’s debt. The project is supported by a strong management team. CGL will also benefit from its extensive marketing and distribution network and an established premier brand name in India.