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Buy Crompton Greaves Consumer; target of Rs 525: ICICI Direct

ICICI Direct is bullish on Crompton Greaves Consumer has recommended buy rating on the stock with a target price of Rs 525 in its research report dated October 26, 2021.

October 28, 2021 / 02:00 PM IST
 
 
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ICICI Direct's research report on Crompton Greaves Consumer


Crompton Greaves Consumer (CGCEL) is among India’s leading fast moving electrical goods (FMEG) companies, present in electrical consumer durables (78% of revenue) and lighting businesses (22% of revenue). Market leader in the domestic fan industry with value market share of 27%. The company has enhanced focus on increasing market share in home appliances categories like (air coolers, water heater and kitchen appliances) Robust balance sheet with RoE & RoCE of 34% & 39% (three-year average), respectively, with stringent working capital policy


Outlook


We maintain our BUY rating on the stock We introduce FY24E estimates and roll over valuation at FY24 valuing the company at Rs 525 i.e. 40x P/E on FY23E EPS.


For all recommendations report, click here

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first published: Oct 28, 2021 02:00 pm
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