Crompton Greaves Consumer Electricals Limited is engaged in the business of manufacturing, trading, selling, and distributing fans, lighting, pumps, and appliances. The company is a public limited company incorporated and domiciled in India and has its registered office in Mumbai, India.
Shares of Crompton Greaves Consumer Electricals Ltd. were trading at ₹ 277.10 gaining 4.13 % on Wednesday’s trading session from the previous close price of ₹ 266. The company has a market cap of ₹ 17,671 crore.
The company board has recommended a final dividend of Rs. 3/-per per equity share of Rs. 2/- each (fully paid up) for the financial year ending March 31, 2023.
Having a quick walkthrough of the financials, their operating revenues increased from ₹ 1,516 crores in Q3 to ₹1,790 crores in Q4. Similarly, having a YoY comparison of the metrics, the revenues significantly increased from ₹ 5,394 crores during FY 21-22 to ₹ 6,869 crores in FY 22-23.
The net profits of the company, during the previous quarter, increased from ₹88 crore in Q3 to ₹131 crore in Q4. For YOY comparison, PAT numbers have declined from ₹ 578 crores during FY 21-22 to ₹ 476 crores in FY 22-23.
Having a positive outlook for the company, HDFC Securities gave a “buy” tag to the company with a target price of ₹ 400 indicating an upside of 44 percent as compared to the current price levels.
The rationale behind giving such a recommendation is
- Higher brand investments
- Innovation and R&D
- Expanding GTM reach
- New brand architecture in pumps and
- The dedicated sales team in lighting equipment.
As per the latest shareholding pattern data for the March quarter, domestic
Institutional investors (DIIs) hold a 44.41 percent stake, and foreign institutional investors (FIIs) hold a 39.64 percent stake in the company for FY 22-23.
Written by Omkar C
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