Crompton Greaves Q4 Results Review - Consistent Strong ECD Performance: Dolat Capital

"NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Dolat Capital Report.Crompton Greaves Consumer Electricals Ltd.’s Q4 FY24 revenue was in-line, while profitability exceeded estimates. Revenue increased 9.5%, led by 14% growth in electronic consumer durable segment. Lighting was flat, while Butterfly Gandhimati Appliances Ltd. declined 12%. With strong summer offtake, fans exhibited strong volume-led growth of 13% on a normal base, which was encouraging. Ebitdam contracted 140 bps to 10.4% due to high brand investments and extended producer responsibility impact. Excluding EPR, margins stood at 11.1%. We expect margins to recover with price increases, higher share of premium products across categories, cost control measures and better operating leverage. We are hopeful that strong summer demand for fans will continue in Q1 FY25. Also, LED pricesto bottom out in next few months and lighting revenue to grow on a favorable base..We believe Crompton Greaves is well placed to benefit from-its leadership position in core categories,strong distribution network,premiumization andcontinuous innovation. We build in revenue/profit after tax compound annual growth rate of 14%/29% over FY24-26E and lower our FY25E/26E EPS estimates by 3%/2% to Rs 9.0/11.5 resp. Maintain ‘Buy’ rating with target price of Rs 394 (34 times FY26E EPS)..Click on the attachment to read the full report:.Crompton Greaves Consumer Electricals Q4 Net Profit Rises To Rs 133.43 Crore.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

Crompton Greaves Q4 Results Review - Consistent Strong ECD Performance: Dolat Capital

Revenue in-line, profitability exceeds estimates; Butterfly to revive in H2 FY25

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Crompton Greaves Q4 Results Review - Consistent Strong ECD Performance: Dolat Capital

Revenue in-line, profitability exceeds estimates; Butterfly to revive in H2 FY25

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