Q4FY21 Result Update - Crompton Greaves Consumer - ICICI Direct

Crompton Greaves Consumer Electrical (CGCEL) continued its growth momentum in Q4FY21 with topline, PAT 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 No. 1 slot in the segment with overall market share of 27%. However, in the near term, CGCEL 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. However, despite near term challenges, the company will continue to invest in R&D and strengthen its rural distributions to drive its future sales. Also, launch of premium products, cost saving measures and price hikes will support its margin once normalcy returns.

For details, click on the link below: Link to the Report

Shares of Crompton Greaves Consumer Electricals Ltd was last trading in BSE at Rs.403 as compared to the previous close of Rs. 397.9. The total number of shares traded during the day was 57122 in over 1917 trades.

The stock hit an intraday high of Rs. 405.9 and intraday low of 400. The net turnover during the day was Rs. 23055455.

Source : Equity Bulls

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