Crompton Greaves - Strong Focus On Strengthening Competitive Advantages: ICICI Securities

ICICI Securities Report

Crompton Greaves Consumer Electricals Ltd. is focusing on-

1. Premiumisation of portfolio across segments. It has also gained market share in premium fans from ~17% three years ago to 25-26% now (Source: Company).

2. It wants to increase investments in in-house manufacturing, which may result in margin expansion and launch of differentiated products.

3. Increase investments in pumps. Crompton has gained market share in agri and solar pumps.

4. It has also won patent in pumps and believes there is potential to win more patents.

5. As per strategy 2.0, the company also plans to steadily enter new segments which may result in the expansion of addressable market.

Stable/ lower commodity prices also augur well as pricing stability could allow the company to invest in brand-building activities as well as drive volume growth.

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