Crompton Greaves Consumer Electricals Announced Q1FY23 Result :
- Strong Revenue growth of 77% & robust operating margins
- Consolidated Revenue for the quarter at Rs. 1,863 Cr. registered a growth of 77% YoY. EBIDTA grew 76% at Rs. 220 Cr. with a margin of 11.8 % and PAT stood at Rs. 126 Cr.
- Standalone Revenue for the quarter at Rs. 1,608 Cr. registered a growth of 54% YoY. EBIDTA was at Rs. 194 Cr. with a margin of 12.0% and PAT stood at Rs. 128 Cr.
- ECD segment grew by 52% with strong growth across categories. Fans growth was driven by overall strong performance, especially in Premium and TPW Fans. Appliances business continued to deliver robust growth based on new consumer offerings in core categories. Lighting segment grew by 61%, as B2C LED business continued its strong growth momentum. We continued to focus on brand building, alternative channels, Go to Market and R&D capabilities. We also entered into new Built-in Kitchen Appliances segment to expand our presence in the kitchen and become a player in the full range of appliances. Butterfly business reported strong growth across all categories mainly Mixers, Cookers & Stoves with significantly improved margins.
Commenting on the Quarter results, Company’s Managing Director, Shantanu Khosla said “First quarter started with strong growth momentum and recorded robust revenue growth across businesses, in both Crompton and Butterfly. Alternative channels viz. Ecom, Canteen Stores and Rural continue to increase their share in the overall business. Gross Margins improved sequentially, and profitability remained best in class. Butterfly performed strongly in the first quarter post takeover. Operational and cost synergies are under implementation.”