The electrical goods segment in India is a rapidly growing industry, driven by increasing demand for consumer electronics, home appliances, and industrial electrical products. Major companies such as Bajaj Electricals, Havells India, and Crompton Greaves dominate the market, offering a wide range of products including fans, lighting solutions, switches, and home appliances.
These companies have established strong brand presence and innovation capabilities, contributing significantly to both domestic consumption and exports. The sector’s growth is fueled by urbanization, rising disposable incomes, and the government’s push towards energy-efficient solutions and renewable energy.
With a shift towards smart and sustainable products, the future of the electrical goods market looks promising, with technology and innovation playing a key role in shaping consumer preferences and expanding market opportunities.
Share Price
The shares of Crompton Greaves traded 4 percent higher at Rs 385 as of 3:00 p.m. The stock has gained 23 percent on a year-to-date basis, outperforming the Nifty 50 which gained 8 percent during the same time frame.
Q2 Results
In Q2 of FY 2024, Bajaj Electricals reported a 6.09% revenue growth YoY, rising from Rs. 1,782 crore to Rs. 1,896 crore. The company’s net profit also saw a robust increase of 25%, growing from Rs. 136 crore to Rs. 171 crore. Additionally, the EBITDA margin improved slightly from 10% to 11%, reflecting operational efficiency.
The Electric Consumer Durables (ECD) segment led the growth, with revenue increasing to Rs. 1,392.7 crore from Rs. 1,238 crore, driven by strong demand for home appliances. The Lighting Products segment also saw modest growth, rising to Rs. 253 crore from Rs. 238.7 crore.
However, the Butterfly Products segment faced a decline, with revenue dropping to Rs. 250.2 crore from Rs. 305.6 crore a year ago, reflecting challenges in that product category. Despite this, the overall results indicate healthy growth for the company.
About the Company
Crompton Greaves Consumer Electricals Limited is a leading consumer electrical brand in India with over 75 years of legacy. The company operates under professional management and is known for its innovation and quality across three key business segments: Lighting, Butterfly Products (LPG stoves, mixer grinders), and Electrical Consumer Durables (like fans, home appliances, etc.)
Its products are marketed under the trusted Crompton brand and cater to a wide range of consumer needs, from home appliances to lighting solutions. With a strong presence in India and select export markets, Crompton continues to grow, leveraging its rich heritage and commitment to delivering reliable, energy-efficient solutions to consumers.
Written By: Dipangshu Kundu
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