News: Crompton Greaves Consumer Electrical, a prominent player in the electricals sector, recently announced its Q3 results for the fiscal year 2024. Let’s delve into the key highlights and understand the company’s performance during this period.

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Financial Snapshot

• Revenue from Operations: Crompton Greaves Consumer Electrical reported revenue from operations at ₹1545.2 crores, marking a significant 65% YoY growth.
• EBITDA: The company’s EBITDA stood at ₹355.7 crores, reflecting a 23% YoY increase.
• Profit After Tax: Despite market fluctuations, Crompton Greaves Consumer Electrical maintained a steady net profit of ₹191.9 crores, demonstrating resilience in challenging times.

Business Insights

• Market Segmentation:
  • US Market: Accounted for 53% of Q3FY24 revenue, down from 62% in Q3FY23.
  • Europe and ROW Market: Growth attributed to the acquisition of Cenexi.
  • Rest of the World Market: Contributed 18% of Q3FY24 revenue.
  • India Market: Accounted for 5% of Q3FY24 revenue.
• Research and Development (R&D):
  • Total R&D expenses for Q3 FY24 were ₹53 crores or 5% of operating revenue.
  • Filed 10 ANDA during the quarter and received approval for 3 ANDAs.

CEO’s Perspective

Mr. Srinivas Sadu, MD & CEO of Crompton Greaves Consumer Electrical, expressed optimism:

“With strong results in the third quarter, we continued our positive momentum for the fiscal year. Our consolidated Q3 FY24 reported sales of INR 15,452 million, reflecting a quarter-on-quarter increase of 13% and a year-on-year increase of 65%. We achieved a consolidated EBITDA of INR 3,557 million and a consolidated net profit of INR 1,919 million.”

A Legacy of Excellence

CGCEL’s roots trace back to the iconic Crompton Greaves, a pioneering electrical engineering company established in India in 1878. With a legacy spanning over a century, CGCEL continues to innovate and serve millions of customers.

Product Portfolio

CGCEL offers a wide range of electrical products:

Fans: From ceiling fans to energy-efficient variants, CGCEL’s fans provide comfort and style.

Lighting Solutions: Their LED bulbs, tube lights, and decorative lamps illuminate spaces efficiently.

Pumps: CGCEL’s water pumps cater to domestic, agricultural, and industrial needs.

Appliances: Geysers, air coolers, and kitchen appliances enhance convenience.

Crompton Greaves Consumer Electrical’s robust financials and strategic moves position it well for future growth. Amid market volatility, the company’s focus on innovation and global expansion remains unwavering. Investors can look forward to a promising journey ahead.

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Quality and Safety
CGCEL prioritizes quality, safety, and energy efficiency. Their products adhere to international standards, ensuring durability and reliability.
Customer-Centric Approach
CGCEL’s customer service and after-sales support set them apart. Whether it’s a faulty fan or a flickering bulb, their responsive team ensures swift resolution.

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