Crompton Greaves Consumer Electrical posts 46% yoy growth in Q1 revenue at Rs1,050cr

EBIDTA at Rs126cr grew 25% yoy and PAT at Rs95cr grew 27% yoy.

Jul 23, 2021 04:07 IST India Infoline News Service

Crompton Greaves Consumer Electrical Ltd has informed to the exchange that the Board of Directors on Friday has approved the results of the Company for the quarter ended June 30, 2021.

Revenue for the quarter at Rs1,050cr registered a growth of 46%. Investments were stepped up in advertising, “Go To Market” initiatives, new business development and capability building. EBIDTA at Rs126cr grew 25% yoy and PAT at Rs95cr grew 27% yoy.

According to the filing, the growth momentum of Q4 FY 21 continued till early April when the second wave impacted the business. Business recovery began from early June with easing of restrictions. Fans growth was driven by strong performance in Premium & Decorative Segment. Market share increased in Fans.

Pumps growth was driven by residential pumps. Appliances business continued to deliver strong growth based on excellent consumer offerings of core categories viz. Coolers, Geysers and Mixer GrindeRsLighting business continued to deliver double digit EBIT margins.

Commenting on the Quarter results, Company’s Managing Director, Shantanu Khosla said “Health & safety of our employees is of utmost importance to us. Currently we have 2 active cases amongst our employees and through intensive vaccination drives 89% have received at least one dose.

ECD segment delivered strong growth across categories and geographies. B2C LED lighting business maintained its upward growth trajectory. While commodity cost pressures remained, timely actions have mitigated their impact.”

Crompton Greaves Consumer Electricals ended at Rs458.85 per piece down by Rs14.9 or 3.15% on Sensex.

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