Crompton Greaves - Market-Share Gains Continue In Q3: Anand Rathi
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.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.