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Last Updated : Sep 18, 2018 02:12 PM IST | Source: Moneycontrol.com

Buy Crompton Greaves Consumer Electricals; target of Rs 290: HDFC Securities

HDFC Securities is bullish on Crompton Greaves Consumer Electricals has recommended buy rating on the stock with a target price of Rs 290 in its research report dated July 26, 2018.

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HDFC Securities's research report on Crompton Greaves Consumer Electricals


Crompton’s  ECD  biz  (~77% of  revenues)  bounced back with 23% growth on account  of  stabilizing  distribution  channel  and favorable base (-9% in 1QFY18). Lighting (ex-EESL) was up by 15% (10% in 1QFY18). Crompton continued to gain market share in fans (~27% now vs. 23% in FY16).  Crompton’s  premium  (20%  mix) and mass-premium fans (60% mix) are growing faster  than the industry driven by innovations like Anti-dust and Air 360.


Outlook


We model  23% EPS CAGR over FY18-21E. At 35x Jun-20 EPS, our TP is at Rs 290. We reiterate BUY.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

First Published on Aug 1, 2018 06:30 pm
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