On Thursday, shares of the leading consumer durables and lighting brand rose by 2.7% to ₹297.35 per share after the company secured a patent for their innovation in the ceiling fan business segment.
At 12:55 p.m, Shares of Crompton Greaves Consumer Electricals Ltd were trading at ₹295.10 on the National Stock Exchange, reflecting a 1.92% increase from the previous closing price. The company currently holds a market capitalization of ₹18,949 crores.
The company has been granted a patent for its invention titled “Ceiling Fan Blade Mounting With Extended Lift Angle Causing Broadening Of Resultant Air Delivery Cone.” Officially registered as Patent Number 533002 on April 15, 2024, this patent is valid for 20 years starting from April 5, 2018, in accordance with the Patents Act of 1970, as disclosed in the company’s exchange filing.
Crompton Greaves Consumer Electricals Limited, with over 75 years of brand legacy, is a prominent consumer company in India. The company specializes in the verticals of lighting and electrical consumer durables under the renowned “Crompton” brand name.
During Q3FY24, the company experienced a 12% increase in annual revenue, reaching ₹1,693 crore compared to ₹1,516 crore in Q3FY23. However, there was a 3.5% decrease in net profit, dropping from ₹88 crore to ₹85 crore over the same period.
In Q3FY24, the company experienced a 13% YoY growth in EBITDA, with the EBITDA margin holding steady at 10.1% despite increased Advertising & Promotion(A&P) expenses.
As of Q1FY24, the company’s revenue breakdown shows 76% from Electrical Consumer Durables, 12% from the Lighting Products segment, and another 12% from the Butterfly segment.
The company offers a diverse product portfolio including fans, pumps, and other appliances such as water heaters, air coolers, mixer grinders, irons, small kitchen appliances, and power solutions.
In FY23, the company expanded its presence in the built-in kitchen appliances market across the top 10 cities. They also launched a variety of lighting products including LED lamps, battens, panels, streetlights, floodlights, interior & architectural lighting, incandescent lamps, compact lamps, and fluorescent lights. During the same fiscal year, the company introduced over 500 new products, filed 8 new patents, and registered 35 designs.
Furthermore, in FY23, the company completed a merger between Butterfly Gandhimathi Appliances Limited and Crompton Greaves Consumer Electricals Limited, aiming to capitalize on cross-selling opportunities and synergies. Butterfly, a prominent brand from South India, has over 500 distributors in the region, with approximately 80% of its revenues coming from in-house manufactured products.
In March 2024, the company secured its fourth consecutive order from HAREDA. The order entails the supply, installation, and commissioning of 7.5 HP DC, 10 HP AC, and 10 HP DC solar photovoltaic water pumping systems, valued at over ₹9 crores.
Written by Omkar Chitnis
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