Crompton Greaves CE - Q4 FY21 Result Update - YES Securities

(Rating: BUY, Rs498; Upside: 25.8%)

- Crompton has delivered broad based growth across product categories

- Fans have registered 1% increase in market share led by higher growth in premium category.

- E-com and modern retail channels continues to do well growing 86% in Q4.

- Focused initiatives and efficiency measures have led to improvement in working capital cycle and healthy FCF generation.

- We build in FY21-23E Revenue/EBITDA/Adj. PAT CAGR of 14%/14%/16% to arrive at our TP of Rs498 valuing company at 45x FY23EPS and maintain BUY rating

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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