Crompton Greaves

CROMPTON

NSE

BSE

SectorConsumer Goods

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Company insights, generated from the most recent coverage.

FY31 ₹15,000 Cr revenue target faces headwinds: ~80% market remains unorganized, BEE regulatory changes demand heavy engineering investment, and solar business is still nascent.
Copper up 73% and aluminium alloy up 94% since FY22; despite passing on 80% of costs via price hikes, remaining margin pressure weighs on near-term earnings visibility.
Stock down 2.3% today, extending a 7.8% weekly decline as investors book profits post-Aug 20 Investor Day — classic 'buy the rumour, sell the news' reaction to ambitious FY31 targets.

The Quarter story

The two most recent quarterly results, compared side-by-side.

Core profitability and margins expand strongly in Q4 FY26, driven by robust ECD and Lighting sales, while a large one-off gain masks underlying earnings.

ECD EBIT margin expands from 10.6% in Q2 FY26 to 15.5% in Q4 FY26, showing strong operational leverage.

Reported net profit slips from ₹124 Cr in Q1 FY26 to -₹531 Cr in Q4 FY26, dragged down by a large one-off item.

Lighting revenue grows from ₹232 Cr in Q1 FY26 to ₹316 Cr in Q4 FY26, reflecting steady market penetration.

Material costs rise from ₹1,287 Cr in Q3 FY26 to ₹1,562 Cr in Q4 FY26, reflecting higher procurement volumes.

Advertisement spend falls from ₹93 Cr in Q1 FY26 to ₹62 Cr in Q4 FY26, indicating disciplined marketing costs.

Lighting EBIT margin falls from 15.5% in Q2 FY26 to 12.2% in Q4 FY26, showing normalized efficiency.

Core net profit margin rises from 5.2% in Q2 FY26 to 8.2% in Q4 FY26, confirming improved pricing power.

Butterfly revenue declines from ₹293 Cr in Q2 FY26 to ₹218 Cr in Q4 FY26, signaling demand softening.

About the company

Crompton Greaves Consumer Electricals Limited (CGCEL) is a leading Indian consumer electrical company operating in the Electrical Consumer Durables (ECD) and Lighting segments. It manufactures and distributes a wide range of products including fans, lamps, luminaries, pumps, and household appliances. CGCEL is a market leader in fans, domestic pumps, and street lighting. The company has manufacturing facilities in Goa, Vadodara, Ahmednagar, and Baddi. CGCEL was formed after demerging from Crompton Greaves and was listed on stock exchanges in 2016. The company has introduced innovative products like anti-dust ceiling fans and IoT-enabled lighting solutions. In 2022, CGCEL acquired a majority stake in Butterfly Gandhimathi Appliances Limited. The company continues to launch new products across various categories, including fans, water heaters, kitchen appliances, and lighting solutions, under the Crompton brand name.

In the news

Motilal Oswal picks Crompton Greaves, ICICI Prudential AMC

Crompton shares rise 2.8% on strong growth outlook, Jefferies targets ₹330

Crompton Greaves Q1 profit jumps 15% to ₹143 crore, Prabhudas Lilladher sets ₹330 target

Crompton Greaves

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About the company

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