Synopsis:
Crompton Greaves Consumer Electricals opened higher after securing an order from Madhya Pradesh Urja Vikas Nigam Limited for installing off-grid solar water pumping systems under the PM Krishak Mitra Surya Yojana.
A consumer electricals stock edged higher in trade on September 3 following the announcement of a new solar pump order in Madhya Pradesh. The order strengthens its renewable energy solutions portfolio at a time when the company is scaling up its solar pump business, which doubled in size year-on-year in Q1FY26.
Crompton Greaves Consumer Electricals Ltd, with a market capitalization of Rs. 21,395.23 crore, opened at Rs. 336.75 today against its previous close of Rs. 333.55, reflecting a 0.96 percent rise at the open.
What’s the News?
The company has received a Letter of Empanelment from Madhya Pradesh Urja Vikas Nigam Limited for the design, manufacture, supply, transport, installation, testing, and commissioning of off-grid DC and AC solar photovoltaic water pumping systems of 2 HP, 3 HP, 5 HP, and 7.5 HP capacities.
The project falls under Component-B of the PM KUSUM B scheme, implemented in Madhya Pradesh as the PM Krishak Mitra Surya Yojana. The order comprises 159 systems with a total value of approximately Rs. 4.24 crore, excluding GST, and is to be executed within 60 days from the issuance of the work order.
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Solar Pumps Performance During Q1FY26
During Q1FY26, the company’s solar pumps segment recorded two-fold year-on-year growth, with an expanded tender presence across multiple states. Crompton continued to build a robust order pipeline for FY26 and secured its largest-ever solar pumps order worth Rs. 101 crore from Maharashtra Energy Development Agency (MEDA), reinforcing its leadership in the segment.
Financial Snapshot
On a sequential basis, revenue declined 3.1 percent to Rs. 1,998 crore in Q1FY26 from Rs. 2,061 crore in Q4FY25. Operating profit fell 27.3 percent to Rs. 192 crore from Rs. 264 crore. Profit before tax dropped 28.1 percent to Rs. 166 crore from Rs. 231 crore, while net profit fell 27.9 percent to Rs. 124 crore from Rs. 172 crore.
Year-on-year, revenue decreased 6.5 percent from Rs. 2,138 crore in Q1FY25 to Rs. 1,998 crore in Q1FY26. Operating profit declined 17.2 percent from Rs. 232 crore to Rs. 192 crore. Profit before tax contracted 18.2 percent from Rs. 203 crore to Rs. 166 crore, while net profit slipped 18.4 percent from Rs. 152 crore to Rs. 124 crore. According to the company, the muted performance was primarily due to weather-related disruptions that impacted sales of seasonal products.
About the Company
Founded in 2015, Crompton Greaves Consumer Electricals Ltd is a leading Indian brand in consumer electrical goods, home appliances, and electronic equipment. Its diverse portfolio includes fans, water heaters, kitchen appliances, lighting luminaires, and pumps catering to domestic, agricultural, and industrial use.
The company serves homeowners, businesses, corporations, architects, interior designers, real estate developers, government entities, wholesalers, and distributors. With a pan-India presence and operations across 38 countries, Crompton maintains a strong global footprint.
Written By Manan Gangwar
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