Crompton says that it is well-prepared for the summer, having stocked up on fans and air coolers to prevent a repeat of last year’s supply challenges. The company currently holds about 28 per cent of the market share in the category.
The company's focus on expanding market share and increasing the proportion of premium products within its fan and lighting portfolios is expected to yield significant results. Additionally, restructuring efforts in the Butterfly business aim to position it as a customer-centric innovative brand. By focusing on Agri and solar pumps, premium ceiling lights, and accessories, and launching innovative BLDC fans, Crompton is well-placed to grow its market share.
History shows us, over and over, that bull markets can go well beyond rational valuation levels as long as the outlook for future earnings is positive - Peter Bernstein
Over the past 12 months, shares of Crompton Greaves Consumer Electricals jumped 40 percent in trade.
In the March quarter, air conditioners were the best performing consumer durables category, with the industry growing in excess of thirty percent.
The focus on premiumisation through new product launches led to improved saliency across categories
At close, the Sensex was up 253.31 points or 0.34 percent at 73,917.03, and the Nifty was up 62.30 points or 0.28 percent at 22,466.10.
Crompton Greaves has been a steady player in delivering a healthy performance and growing better than the industry, said experts.
All orders are expected to be completed within 120 days since the order was issued, the company said in a regulatory filing on March 14.
The company's revenue came in at Rs 1,693 crore, increasing 11.6 percent
The company's consolidated revenue from operations is Rs 1,782 crore, rising 4.8 percent.
About 2,015 shares advanced, 1,486 shares declined, and 155 shares remained unchanged
Its revenue from operations increased 15.7 per cent to Rs 1,790.96 crore during the quarter under review against Rs 1,547.82 crore in the year-ago period.
As many as 1,821 shares advanced, 1,614 declined, and 110 remained unchanged as the benchmark indices closed with minor gains in a volatile trade
Banks are set to see higher credit growth as the government has pegged capex spend 33 percent higher at Rs 10 lakh crore for FY24
According to industry body CEAMA (Consumer Electronics and Appliances Manufacturers Association), the water heater market size this year is expected to be 4.25 million units with a growth of approximately 10 per cent over last year.
At a price-to-earnings ratio of 24x, the Nifty midcap100 index is now trading at a 14 percent premium to its 5-year average
The offer for sale will be executed on September 20-21 with a floor price of Rs 1,370 per share, Crompton Greaves informed the stock exchanges.
The development comes just hours after Arunachalam tendered his resignation as Global CFO of Eicher Motors, where his last date would be September 2, 2022.
In FY21, Butterfly clocked a revenue growth of 27 percent despite the pandemic disruptions
Butterfly Gandhimathi shares have risen 113 percent in the past 12 months, driven by strong financials and a rise in demand for kitchen appliances because of work from home triggered by the COVID-19 pandemic.
Butterfly Gandhimathi has been on the market to raise close to Rs 500 crore recently to fund its capital expenditure plans.
The company had posted a consolidated net profit of Rs 141.68 crore in the corresponding quarter last fiscal, Crompton Greaves Consumer Electricals Ltd (CGCEL) said.
Around 3.37 crore shares changed hands in a block deal window. Brokerage firm, Anand Rathi has a buy recommendation on the stock with target of Rs 459 per share.
washing machine and refrigerator sales saw a better traction in August and September, while there was a moderation in room air conditioner sales due to seasonality, says Q2 preview report by Emkay Global Financial Services