Shares of Crompton Greaves Consumer Electricals soared over 16% on Friday morning following the company’s impressive fourth-quarter results.
This surge came after the company reported better-than-expected performance, driven by strong demand for its fans and air coolers.
In March, Crompton Greaves achieved its highest-ever quarterly standalone revenue of ₹1,797 crore, showing a 12% year-on-year growth. The company also maintained a solid EBIT margin of 11.5% (12.3% adjusted for EPR). On a consolidated basis, the revenue for the quarter was ₹1,961 crore.
As of 12:03 pm, the shares were trading 15.97% higher at ₹393.25.
The sales for the ECD section grew by 14% compared to the previous year, reaching ₹1,520 crore. This growth was caused by fans increasing by 13%, pumps rising by 9%, and appliances going up by 27%. However, lighting sales stayed the same at ₹280 crore because prices kept going down, even though the company sold more ceiling lights, battens, and accessories for homes and businesses.
The company’s profit margin improved by 0.4% compared to the previous year, reaching 31.9%. This was thanks to saving costs from Project Unnati and selling a better mix of products.
Throughout the fiscal year, Crompton Greaves achieved some important milestones. They sold over 20 million fans with double-digit growth in units sold. They also completed several orders for solar pumps worth ₹122 crore.
