Crompton Greaves stock soars 15% to 20-month high on stellar Q4 performance
Crompton Greaves Consumer Electricals, one of the leading consumer companies in India, saw its shares surge by 15% during early morning trading today, reaching a 20-month high of ₹390.40 per share. This increase followed the company's impressive performance in the March quarter, surpassing street estimates, largely due to heightened demand for its fans and air coolers.
In March, the company achieved its highest-ever quarterly standalone revenue of ₹1,797 crore, marking 12% year-on-year growth. Additionally, it maintained a robust EBIT margin of 11.5% (12.3% adjusted for EPR).
On a consolidated basis, the revenue for the quarter stood at ₹1,961 crore. Also Read: M&M share price jumps over 7% to record high as analysts remain bullish, raise target price after strong Q4 results Sales in the ECD segment grew by 14% year-on-year to ₹1,520 crore, primarily driven by fans (13% growth), pumps (9% growth), and appliances (27% growth).
However, lighting sales remained flat year-on-year at ₹280 crore due to persistent price erosion, despite witnessing healthy volume growth in B2C lighting categories such as ceiling lights, battens, and accessories. The company saw a 40-basis point increase in gross margin year-on-year to 31.9%, attributed to cost savings from Project Unnati and a better product mix.
During the fiscal year, the company achieved significant milestones, including selling more than 20 million fans with double-digit volume growth and executing several solar pump orders with a total empanelment of ₹122 crore. Also Read: Naukri share price jumps 8%; Nuvama sees a 20% upside potential in stock Moreover, the company surpassed the milestone of selling 1 million units of mixer grinders in FY24, contributing to a robust growth
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