Crompton Greaves Consumer Electricals Ltd turns net debt positive

Crompton Greaves Consumer Electricals Ltd. ('Company'), India's leading Consumer Durables player reports:

Turning Net Debt Positive:

With the latest tranche of NCD repayment of Rs. 300 Cr in July 2024, the Company has repaid debt of Rs. 1,825 Cr till date. The Company has made payments for 4 out of the 5 tranches (both the tranches of Commercial Paper and 2 tranches of NCD) leading to a significant reduction in its interest costs.

As on FY23-24 the Company turned net debt positive to the tune of Rs. 244 Cr through robust cash generation. The balance debt of Rs. 300 Cr is due for payment in July 2025. The Company had taken on total debt of Rs. 2,125 Cr as part of the acquisition of Butterfly Gandhimathi Appliances Ltd ('Butterfly'), a 75% subsidiary.

Commenting on the Company's performance, Kaleeswaran Arunachalam, CFO, said, "With our latest tranche of NCD repayment, we have turned further net debt positive. The Company continues to generate strong cash flows which has resulted in significant debt reduction pertaining to the Butterfly acquisition in a short period of time. We continue to remain prudent in terms of our capital allocation strategy leading to long term value creation for all our shareholders."

Shares of Crompton Greaves Consumer Electricals Limited was last trading in BSE at Rs. 427.45 as compared to the previous close of Rs. 431.65. The total number of shares traded during the day was 54023 in over 2063 trades.

The stock hit an intraday high of Rs. 436.70 and intraday low of 422.60. The net turnover during the day was Rs. 23197549.00.

Source : Equity Bulls

Keywords

CromptonGreavesConsumerElectricals INE299U01018 NetDebt Positive