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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