Crompton Greaves Consumer Electricals Ltd., a leading player in the consumer durables sector, has announced its financial results for the fourth quarter and financial year ending March 31, 2024. The company reported strong revenue growth and robust profitability driven by its Crompton 2.0 strategy, focusing on brand, innovation, and people.
In the fourth quarter of FY24, the company achieved its highest ever quarterly standalone revenue of Rs. 1,797 crore, marking a 12% year-on-year growth. The EBIT margin stood at 11.5%, demonstrating the company’s operational efficiency. On a consolidated basis, the revenue for the quarter was Rs. 1,961 crore, with an EBIT of Rs. 169 crore.
For the full financial year, standalone revenue reached Rs. 6,388 crore, showing a 10.0% year-on-year growth, with an EBIT margin of 9.8%. The company also generated a strong operating cash flow of Rs. 796 crore, with a 130% profit before tax conversion ratio.
The company’s performance was broad-based across categories, with significant growth in fans, pumps, and appliances. The E-commerce channel recorded the highest quarterly revenue growth of 75% year-on-year in Q4. Additionally, the company’s lighting segment showed positive growth trajectory, with a 0.9% year-on-year revenue increase in Q4.
Despite challenges in the market, Crompton Greaves Consumer Electricals Ltd. remains optimistic about its growth prospects, especially with the upcoming summer season and increasing demand for home and kitchen appliances. The company’s focus on innovation and strategic investments is expected to drive continued success in the future.