Continuing its strong show, Crompton Greaves Consumer Electricals Ltd posted an impressive performance in Q4FY21. Revenues for the quarter rose 48% year-on-year to ?1,522 crore, ahead of analysts’ expectations. Growth was strong across product segments and distribution channels, the company said.
The fans business continued to gain market share, while the appliances business posted industry-leading growth, driven by strong performance in water heaters, air coolers and kitchen appliances. Notably, the lighting segment that has seen high competitive intensity in the past, is also rebounding. Volume growth in the B2C lighting segment stood at 23% y-o-y during Q4.
Further helped by cost-optimization efforts, Ebitda also improved 62.4% y-o-y. Adjusted net profit growth was also impressive at 70.2%.
Analysts at Motilal Oswal Financial Services Ltd (MOFSL) said Crompton has consolidated its position in the fans and pumps segments, and has become the No. 2 player in the water heater segment.
The company’s two-year revenue CAGR stood at 12% in Q4, better than the 10% growth reported by Havells India Ltd, MOFSL analysts said.
News Source:- Livemint