Crompton Greaves Sustains Robust Growth, Healthy Margins In Q3: Nirmal Bang
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Nirmal Bang Report
Crompton Greaves Consumer Electricals Ltd. posted a robust growth of 26% YoY in consolidated revenue at Rs 13.5 billion, 16%/10% above our/consensus estimate.
Electrical consumer durables segment grew 32% YoY to Rs 10.4 billion (77% of total sales), led by a strong performance in fans (36% YoY overall growth, 51% YoY growth in premium fans), geysers (up 50% YoY), domestic pumps (up 19% YoY) and appliances (up 45% YoY).
Lighting revenue grew 10% YoY to Rs 3.1 billion (23% of total sales), led by 13% YoY volume and value growth each in business-to-consumer LED lighting and pick-up in business-to-government business.
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