Crompton Greaves Consumer Electricals Ltd. share price target

Quarterly Update Q4FY25

Crompton reported a strong set of numbers in Q4FY25. There is revival in revenue growth as well as profitability of Butterfly. It was a drag on consolidated earnings over past seven quarters.

Crompton Greaves Consumer Electricals (Crompton) ECD segment modest growth of 5.7% with fans reporting a moderate volume growth in FY25 while solar pumps reported a strong quarter. Lighting segment declined by 1.8% while EBIT margin expanded (+700bps) due to better product mix. Butterfly business has reported a strong quarter driven by pricing actions, margin improvements and sequential market share gains in few categories. Company has announced its entry into the solar rooftop category. It has announced greenfield capex of Rs 3.5 bn first phase of which will be focused on the fans...

reliable fan performance in all conditions. CROMPTON is a market leader in fans and residential pumps with leading brand into mixer grinder category. The company is taking price hikes to offset the cost impact due to implementation of BEE 2.0 in Jan'26. we estimate revenue/EBITDA/PAT CAGR of 13.3%/17.6%/21.8% over FY25-27E. The stock is currently trading at 31x/25x FY26/FY27E, there has been no change in our estimates and maintain BUY'...

As true market leader, Crompton is investing to drive premiumisation aggressively in its fan portfolio. As of now, its premium portfolio accounts for 23% of revenues (industry: 40%) in fans.

As true market leader, Crompton is investing to drive premiumisation aggressively in its fan portfolio. As of now, its premium portfolio accounts for 23% of revenues (industry: 40%) in fans.

Crompton Greaves Consumer Electricals (Crompton) has delivered moderate growth in ECD segment +6.5% on high base while lighting segment grew +3.4% steadily gaining momentum in both B2B and B2C business. Butterfly EBITDA expanded by 620bps delivering positive momentum in appliances with better pricing and product mix. General Trade channel delivered moderate performance, while the Modern Retail channel experienced double-digit growth. Company continues to invest in premiumization, innovation, and GTM expansion to achieve steady performance across key ECD segments. We...

Quarterly Update Q2FY25

Despite low channel stocks, the muted demand trend is likely to dent Crompton Greaves Consumer’s Q2 figures. Butterfly’s transformation is underway, and management expects to reap the benefits in the near
term.

Quarterly Update Q1FY25

Strong Q1 topline from higher fan, B2B lighting and pump sales, and GM expansion of 110bps driven by strategic pricing actions

Crompton reported revenue/PAT growth of 13.9%/24.4% YoY. Gross margin expanded 106bps YoY on channel mix and price increases (across segments).

Quarterly Update Q4FY24

Q4 standalone topline growth ex-BGAL at 12% YoY in Q4, gross margin expanded 130bps and EBITDA margin 30bps ex-BGAL