Buy Crompton Greaves Consumer Electricals; target of Rs 290: Prabhudas Lilladher

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26 Aug, 2025 12:21

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Prabhudas Lilladher's research report on Crompton Greaves Consumer Electricals

Crompton Greaves Consumer Electricals (CGCEL) delivered strong set of numbers with a 30% growth in PAT at Rs1.04bn. Revenues came in at Rs12.05bn, up 14.1% YoY (adjusted comparable growth - 20% YoY). CGCEL continued to gain healthy market share in core categories of Fans and Lighting (LED) segment. Innovation (Air 360/Crest mini pumps) in core categories is yielding results and helped growth in ECD segment.

Outlook

We expect sales to grow at a CAGR of 11.5% and earnings CAGR of 18% over FY17-20E. We maintain "BUY" with a TP of Rs290.

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