Earnings Call Transcript Begins
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Good day and welcome to the Crompton Greaves Consumer Electricals Limited Q4 FY2019 Earnings Conference Call, hosted by IIFL Securities Limited. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing “*” then “0” on your touchtone telephone. Please note that this conference is being recorded. I now hand the conference over to Mr. Renu Baid from IIFL Securities Limited. Thank you, and over to you!
Renu Baid: Thank you, Inba. Good morning, everyone. On behalf of IIFL, I would like to welcome you all to the Q4 FY2019 earnings call of Crompton Greaves Consumer Electricals Limited. Today, we have with us the senior management represented by Mr. Shantanu Khosla, Managing Director; Mr. Sandeep Batra, CFO; Mr. Yeshwant Rege, Vice President, Strategy and Financial Planning. Without taking much time, I would like to welcome the management and hand over the call to Shantanu for his comments and opening remarks. Thanks, and over to you, Sir. Shantanu Khosla: Thank you, Renu. Good morning, everyone. First, I am sorry we are a couple of minutes late. We had a little bit of a technical problem. So without further ado, let me just dive straight into an overview, a set of comments, and then as usual, we are happy to take as many questions as you may have. I will just get straight into the details by segment first and let me first talk about our ECD segment.
Now, we are quite happy with our overall ECD performance where we grew to 10%, this was in spite of, as you are most are aware, a delayed onset of summer and quite an extended winter which to some extent has impacted the seasonality. The growth was really driven by all subsegments within ECD. While our gross margins in ECD this quarter are pretty much in line with the previous quarter, they are lower than the same quarter in the previous year. This is largely due to the impact of commodity prices, and given the relative downturn in the market, we were not really able to take a planned price increase.
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