Crompton Greaves Consumer Electricals Ltd. (Crompton), India’s leading Consumer Durables player, reported its standalone and consolidated financials for the first quarter ended 30th June 2023, the company announced through an exchange filing.
Financial Highlights
Consolidated Revenue for the quarter at Rs 1,877 crores. EBITDA at Rs 186 crores and PAT Rs 122 crores. Standalone Revenue for the quarter at Rs 1,657 crores, EBITDA at Rs 166 crores, PAT at Rs 115 crores.
Segment Highlights
ECD category delivered a competitive growth of 6 percent YoY in a subdued environment. This was led by strong momentum in the premium fans segment, particularly BLDC, and continued double-digit growth in Appliances. Agricultural Pumps category grew by 7 percent YoY. Investment behind the brands accelerated.
In Lighting category work continues on the structured Go-To-Market strategy to improve the B2C reach at a pan-India level and expand product portfolio range. EBIT margin expansion primarily aided by cost optimization initiatives.
Butterfly Gandhimathi Appliances Ltd. continued to focus on de-risking channel mix leading to strong double-digit growth in B2C channels. Rebound in Trade channel & value engineering led to strong expansion in Material margin.
“We witnessed a pickup in demand from June 2023 onwards amidst weak consumer sentiment in an inflationary environment and unfavourable weather conditions. ECD performance was led by Appliances, especially Mixer Grinders, Small Appliances and Air Coolers. Our journey towards premiumization of our portfolio led to higher share of premium Fans at 28 percent vs 24 percent in Q1 FY23," said Promeet Ghosh, MD & CEO.
Crompton Greaves Consumer Electricals Ltd shares
The shares of Crompton on Friday at 3:30 pm IST were at Rs 295.70, down by 2.67 percent.
