Crompton Greaves Consumer Electricals Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for CROMPTON, BSE:539876 Crompton Greaves Consumer Electricals Ltd.

Crompton Greaves Consumer Electricals Ltd.

25 Oct 2019

287.60

0.03%

Price erosion in Lighting segment impacts earnings

Buy: Crompton Greaves Consumer ...

Target

Motilal Oswal

Earnings miss estimates marginally: 2QFY20 revenue grew 4% YoY to INR10.7b (10% below est. INR11.9b), while EBITDA was up 4% YoY to INR1.3b (18% below est. INR1.6b). Reported EBITDA margin was marginally up 30bp YoY to 12% (lower than est. 13.2%). PBT came in at INR1.3b, up 9.5% YoY (15% lower than est. INR1.5b). Aided by lower tax rate of 12.3% (v/s 33.4% YoY), adj. PAT stood at INR1.1b (3.5% below est.). 1HFY20 revenue/EBITDA/PAT grew 8%/10%/29% YoY. Lighting segment performance disappoints: Lighting segment revenue...

Crompton Greaves Consumer Electricals Ltd. has lost -32.38% in the last 1 Year

Crompton Greaves Consumer Electricals Ltd.

25 Oct 2019

287.60

0.03%

Crompton Greaves Consumer Electricals Ltd - Result Update Q2FY20

Buy: Crompton Greaves Consumer ...

Edelweiss

Crompton Greaves Consumer Electricals Ltd (CGCEL) reported weak Q2FY20 results as continued disappointing performance of lighting segment.

Crompton Greaves Con.. has an average target of 422.00 from 5 brokers.

Crompton Greaves Consumer Electricals Ltd.

24 Oct 2019

287.60

0.03%

Crompton Consumer (2QFY20): Another dull show. Maintain BUY

Buy: Crompton Greaves Consumer ...

HDFC Securities

Crompton's performance has been luke-warm over the last 4 qtrs resulting in stock underperformance (de-rating). We believe both segments (ECD and lighting) need to fire together for the stock to re-rate. Market share gains in fans, success in appliances, GTM benefits, cost savings program and acceleration in B-B lighting will be the key medium term drivers. We expect 11/16/13% EBITDA growth in 2HFY20/FY21E/FY22E. Reasonable valuations along with structural long-term initiatives of company drives our BUY rating. Cromptons 2Q performance was weak. Dull show in lighting overshadows ECD performance. Crompton remains committed to improve their lighting biz via investments in B-B (inspired by Havells). We believe Cromptons 2HFY20 performance will be similar to 1H and hence dont expect a sharp recovery (unlike peers). We cut EPS by 3-5% over FY19-22E. We value the co at 35x on Sep-21 EPS, arriving at a TP of Rs 339. Maintain BUY.

Crompton Greaves Consumer Electricals Ltd. is trading below all available SMAs

Crompton Greaves Consumer Electricals Ltd.

24 Oct 2019

287.60

0.03%

Q2FY20 Result Update

Buy: Crompton Greaves Consumer ...

Target

Prabhudas Lilladhar

We cut Crompton's FY20/FY21 EPS by 4.5%/3.4% given 1) slowdown in Change in Estimates | Target | Reco consumer discretionary spends impacting ECD growth rates and 2) near term profitability pressures in lighting due to ~15% price erosion in LED, delayed...

Crompton Greaves Consumer Electricals Ltd. has lost -32.38% in the last 1 Year

Crompton Greaves Consumer Electricals Ltd.

24 Oct 2019

287.60

0.03%

Crompton Greaves Consumer Electrical-2QFY20 - Result Update

Buy: Crompton Greaves Consumer ...

Target

Reliance Securities

Crompton Greaves Consumer Electricals (Crompton) has reported muted revenue growth of 4% to Rs10.8bn in 2QFY20. Revenue from ECD segment grew by 11% YoY to Rs7.9bn led by strong performance in fans, pumps and Geyser, while revenue from Lighting segment declined by 12% YoY to Rs2.9bn led by price erosion and lower EESL sales (down 60%). EBITDA margin was up 10bps YoY to 12.0% as higher margin in ECD segment was partially offset by lower margin in lighting segment. PAT grew by 44% YoY to Rs1.1bn aided by higher other income and lower tax rate. Further, the Company is in the process of revamping its ECD business, which is expected to be implemented by FY21E. We cut our revenue estimates by 2%/6% for FY20/21 factoring the...

Crompton Greaves Consumer Electricals Ltd. has lost -32.38% in the last 1 Year

Crompton Greaves Consumer Electricals Ltd.

26 Jul 2019

287.60

0.03%

Weak lighting segment performance impacts results

Buy: Crompton Greaves Consumer ...

Motilal Oswal

Earnings miss estimates marginally: 1QFY20 revenue grew 12% YoY to INR13.5b (in line with our est. of INR13.7b), while EBITDA was up 15% YoY to INR1.9b (5% below our est. of INR2b). Reported EBITDA margin improved 30bp YoY to 14.2% (lower than our est. of 14.7%), while other income came in higher than our expectation at INR173m. Thus, adj. PAT at INR1.2b was 6% below our expectation of INR1.3b. Lighting segment performance disappoints: Lighting segment revenue declined 2% YoY to INR2.7b (our est. INR3b; +12% YoY). Revenue was...

Crompton Greaves Con.. has an average target of 422.00 from 5 brokers.

Crompton Greaves Consumer Electricals Ltd.

25 Jul 2019

287.60

0.03%

Crompton Consumer (1QFY20): Brighter (lighting) days ahead. Maintain BUY

Buy: Crompton Greaves Consumer ...

Target

HDFC Securities

Crompton's performance has witnessed volatility (vs. Havells) over the last 4-6 qtrs resulting in stock underperformance. Both segments (ECD and lighting) need to fire together for the stock to re-rate. Market share gains in fans, success in appliances, GTM benefits, cost savings program and acceleration in B-B lighting will be the key drivers. We expect sequential recovery in lighting margins hereon (stable GM and moderate increase in marketing spend). We model 20% EBITDA growth over the rest of FY20 (also driven by a favorable base of 4%) Cromptons 1Q performance was a mixed bag with beat in ECD while miss on lighting. Cos success in ECD with market share gains in fans and higher aggression in appliances was encouraging. Lighting disappoints with legacy issues (conventional lighting) and investments in B2B. We cut EPS by 2-3% over FY20-21E. We value co at 35x on Jun-21 EPS, arriving at a TP of Rs 304.

Crompton Greaves Con.. has an average target of 422.00 from 5 brokers.

Crompton Greaves Consumer Electricals Ltd.

25 Jul 2019

287.60

0.03%

Crompton Greaves Consumer Electrical-1QFY20 Result Update

Crompton Greaves Consumer ...

Reliance Securities

Crompton Greaves Consumer Electricals Ltd. is trading below all available SMAs

Crompton Greaves Consumer Electricals Ltd.

25 Jul 2019

287.60

0.03%

CG Consumer

Buy: Crompton Greaves Consumer ...

Dolat Capital

DART view: In line quarter; ECD grew strongly: Maintain Buy The Q1FY19 results were in line with our estimates. The ECD growth was strong, with seasonal impetus for fans and pumps. However, price erosion continued in the B2B lighting, falling 5-7% YoY. Although Crompton, is trying to offset it with premium products in B2C. Lighting margins contracted 631bps QoQ, on account of higher A&P; spend and accounting provisions, while EBIT margins for ECD expanded, due to better product mix. We maintain our Sales/EBITDA/PAT in FY20E, and expect the company...