Crompton Greaves - Market-Share Gains Continue In Q3: Anand Rathi
A customer inspects a microwave oven on display at a Croma electronics megastore. (Photographer: Vivek Prakash/Bloomberg)

Crompton Greaves - Market-Share Gains Continue In Q3: Anand Rathi

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Anand Rathi Report

Driven by a strong uptick in rural/e-commerce sales, premiumisation, cost optimisation and an expanding distribution network, Crompton Greaves Consumer Electricals Ltd.’s Q3 revenue/profit before tax were up 26%/46% YoY.

In key categories (geysers, fans, etc,) it continued to gain more market-share than peers, said management. Price hikes from January 2021 (5-8%) would help it face rising raw material costs.

We introduce FY23e and expect 12%/14% revenue/profit after tax compound annual growth rates over FY20-23, with a 15% Ebitda margin, healthy return ratios and free cash flows.

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Anand Rathi Crompton Greaves Q3FY21 Result Update.pdf

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