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Crompton Greaves Consumer Electricals Ltd. has reported marginally lower than expected revenue with electrical consumer good and lighting segment declining 3% and 7% respectively.
Decline in ECD was on back of high base subdued demand environment for fans which were marred by high inflationary environment and de‐stocking by channel as it is moving towards BEE ratings.
Gross margins at 32% have come back to its normalised levels, while operating margins were lower as company continues to invest in its long‐term strategic initiatives like research and development innovation center, increased advertising and promotion spends and investing in alternate channels.
On Butterfly Gandhimathi Appliances Ltd. front company transition is happening smoothly and now company is confident of double‐ digit Ebitda margins to be base which can be improved upon.
Crompton continues to gain market share in key categories like fans. Crompton entry into built‐in kitchen appliances has met with positive response which has been ahead of expectation.
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