Q1FY22 Result Update - Crompton Greaves Consumer - ICICI Direct

Higher other costs delayed recovery in the EBITDA margin.

- Reported revenue growth of 46% YoY to Rs. 1050 crore (down 31% QoQ)

- Price hikes (5-6%) better product mix help maintain gross margin YoY. However, higher advertisement cost and other costs led to ~215 bps EBITDA margin correction to 12% YoY

- PAT increased 27% YoY to Rs. 95 crore, tracking topline growth

Key triggers for future price performance

- Total ~1.7 crore new houses under PMAY, replacement of ~20 million water pumps under government's flagship scheme KUSUM, urbanisation and rising aspiration are demand boosters of home appliances

- Dealer addition in areas with population 10-100k in the next five years

- Focus on launches of premium products to drive margin

- Model revenue, earnings CAGR of 17%, 10%, respectively, in FY21-23E

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. 471.6 as compared to the previous close of Rs. 467.75. The total number of shares traded during the day was 23994 in over 1199 trades.

The stock hit an intraday high of Rs. 474.9 and intraday low of 467.75. The net turnover during the day was Rs. 11311388.

Source : Equity Bulls

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