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Buy Crompton Greaves Consumer; target of Rs 540: ICICI Direct

ICICI Direct is bullish on Crompton Greaves Consumer has recommended buy rating on the stock with a target price of Rs 540 in its research report dated July 26, 2021.

July 28, 2021 / 09:21 AM 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 24%. The company has increased 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 value CGCEL at Rs 540 i.e. 45x P/E on FY23E EPS


For all recommendations report, click here

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first published: Jul 28, 2021 09:21 am

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