Prabhudas Lilladher's research report on Crompton Greaves Consumer Electricals
We attended the analyst meet of CROMPTON where they showcased its latest innovations—NUCLEUS Platform for BLDC technology and XTECH Platform for induction fan technology. These platforms are India's first to offer widerange voltage fluctuation protection and high thermal resistance, ensuring reliable fan performance in all conditions. CROMPTON is a market leader in fans and residential pumps with leading brand into mixer grinder category. The company is taking price hikes to offset the cost impact due to implementation of BEE 2.0 in Jan’26. we estimate revenue/EBITDA/PAT CAGR of 13.3%/17.6%/21.8% over FY25-27E.
Outlook
The stock is currently trading at 31x/25x FY26/FY27E, there has been no change in our estimates and maintain ‘BUY’ rating with revised TP of Rs441 (Rs 504 earlier), based on 35x FY27E earnings (40x earlier).
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