Crompton Greaves Q4 Review – All Round Performance: ICICI Direct

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Crompton Greaves Consumer Electrical Ltd. continued its growth momentum in Q4 FY21 with topline, profit after tax growth of ~48%, ~144%, YoY, respectively, much ahead of our expectations.

The company gained 1% market share in the fan segment during FY21 and retained number one slot in the segment with overall market share of 27%.

However, in the near term, the company will witness demand challenges and Ebitda margin pressure due to lockdown, lower operating leverage and sharp rise in raw material prices.

Hence, we marginally cut our revenue, earnings estimate by 5%, 4%, respectively, for FY22E.

Click on the attachment to read the full report:

ICICI Direct Crompton Greaves Q4FY21 Result Update.pdf


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