Crompton Greaves Q4 Review - Medium Term Story Intact: Dolat Capital

Crompton Greaves’ products on display. (Source: BloombergQuint)

Crompton Greaves Q4 Review - Medium Term Story Intact: Dolat Capital

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.

Dolat Capital Report

Crompton Greaves Consumer Electricals Ltd.'s Q4 numbers were largely in line across sales, Ebitda, and profit after tax with a 122 basis points expansion in operating margins despite lower gross margins by 81bps YoY.

In Q4, electrical consumer durables margins were down 187bps at 18.1% while lighting was up 841bps YoY to 16.1% despite price hikes as business to consumer demand picked up.

The company continues to lead growth through alternate channels with e-com revenues and rural expansion leading to a 1% gain in fans market share in FY21- sustainable in our view.

Margins remain strong being double digits despite input hikes through optimum product mix and cost rationalization.

Click on the attachment to read the full report:

Dolat Capital CG Consumer Q4FY21 Result Update.pdf


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