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Crompton Greaves Q2 - Strong Volume Growth, Market Share Gains Across Consumer Products: ICICI Securities

Crompton Greaves Q2 - Strong Volume Growth, Market Share Gains Across Consumer Products: ICICI Securities

<div class="paragraphs"><p>A customer checks electrical goods at a store. (Photographer Michael Crabtree/Bloomberg News)</p></div>
A customer checks electrical goods at a store. (Photographer Michael Crabtree/Bloomberg News)

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.

ICICI Securities Report

Crompton Greaves Consumer Electricals Ltd. continued to gain market share in fans led by strong growth in premium and decorative fans.

We also believe that it has likely gained market shares in other segments such as appliances and domestic pumps. It reduced its working capital investments by rationalising inventory levels.

While steep inflationary pressures took a toll on profitability, the revenue mix improvement and timely price hikes reduced the degree of the impact.

The company witnessed growth across geographies, channels and product categories.

We model supply chain disruption to hurt the unorganised sector more than organised players such as Crompton Greaves, and the company to gain market shares even in FY23-24.

Click on the attachment to read the full report:

ICICI Securities Crompton Q2FY22 Results Update.pdf

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