Share price of one of the leading consumer companies in India moved up by nearly 3.08% to Rs. 296.95 in the trading session of Tuesday, compared to its previous close of Rs. 288.05, after the company bagged an order worth Rs. 22.26 crore.
With a market capitalisation of Rs. 18,672.5 crores, at 01:35 p.m. the shares of Crompton Greaves Consumer Electricals Ltd. were trading in the green at Rs. 291.45, up by 1.18 percent.
In the last one year, the company has delivered negative returns of about 3.11 percent and more than 3.25 percent of returns in the last six months. So far in 2024, it has given negative returns of around 7.12 percent.
According to recent regulatory filings with the stock exchanges, Crompton Greaves Consumer Electricals Ltd. received an order from the New & Renewable Energy Department Haryana and HAREDA.
The order is for 469 Solar Photovoltaic Water Pumping System (SWPS) with a total work order value of rough Rs. 22.26 crores (excluding GST), and the time period for executing the order is within 120 days from the date of issue of the work order.
The order is for the design, manufacturing, delivery, installation, testing, and commissioning of Solar Water Pumping Systems (SWPS) with PV Modules under the PM-KUSUM scheme at various locations across Haryana.
In terms of financials, the revenue from operations of the company reduced by nearly 5% QoQ from Rs. 1,782 crore in Q2 FY23-24 to Rs. 1,693 crore in Q3 FY23-24.
The net profit of the company is Rs. 85 crore in Q3 FY23-24, a fall of 15.84 percent on a quarter-on-quarter basis from Rs. 101 crore in Q2 FY23-24.
Crompton Greaves Consumer Electricals Limited is one of the leading players in the consumer electrical sector in India, and offers a diverse portfolio including fans, lights, pumps, and household appliances.
Crompton Parkinson Works Ltd. and Greaves Cotton & Crompton Parkinson Ltd. merged to form CG Power and Industrial Solutions Limited, in 1966.
However, in the year 2015, the consumer durables business was demerged to form a new entity named Crompton Greaves Consumer Electricals Ltd.
Written by Shivani Singh
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