At 35x Dec-20 EPS, our TP is at Rs 297 (earlier Rs 295). We reiterate BUY. Crompton reported an in-line quarter marked with consistent solid performance in ECD and partial recovery in lighting margins. Net revenues grew by 10% (exp 11%) driven by premium fans and geysers. EBITDA/APAT grew by 8/15% (exp. 10/15%).