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BUTTERFLY - Butterfly Gan Ap

📊 NSE: BUTTERFLY 🏢 Domestic Appliances 📅 Last Updated: 12/13/2025 20:03

📢 Recent Corporate Announcements

Butterfly Gandhimathi Ordered to Pay AED 31,666 Compensation by Abu Dhabi Court

🟡 NEUTRAL ⭐ 3/10

LEGAL 📅 27 Feb 2026, 12:47 PM

Butterfly Gandhimathi Appliances Limited has been ordered by the Abu Dhabi Commercial Court to pay compensation following a consumer injury claim. The court awarded AED 31,666.66 (approximately ₹7.15 Lakhs) plus 5% annual interest starting from the judgment date. The case involved an alleged product failure or malfunction that resulted in a consumer injury. The company has clarified that this payout will not have a material impact on its overall financial or operational performance.

Abu Dhabi Commercial Court awarded compensation of AED 31,666.66 against the company.
An additional interest rate of 5% per annum is applicable from the date of the judgment.
The legal action stemmed from a consumer injury allegedly caused by a Butterfly product malfunctioning.
Company confirms no material impact on financial, operational, or other activities.

💡 This is a minor legal settlement with negligible financial impact on the company's balance sheet. Investors should continue to focus on the company's core operational performance and domestic market growth.

Butterfly Gandhimathi Head of Procurement Senthil Kumar Raja S Resigns

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 19 Feb 2026, 04:28 PM

Butterfly Gandhimathi Appliances Limited has announced the resignation of Mr. Senthil Kumar Raja S, the Head of Procurement (General Manager) and a member of the Senior Management Personnel. His resignation will be effective from the close of business hours on February 27, 2026. The departure is attributed to personal reasons and the pursuit of new career opportunities, with the formal resignation letter submitted on December 5, 2025. The company has confirmed there are no other material reasons for this change in management.

Mr. Senthil Kumar Raja S to step down as Head of Procurement effective February 27, 2026.
The resignation was submitted on December 5, 2025, allowing for a transition period of nearly three months.
The departure is classified under Regulation 30 of SEBI (LODR) Regulations, 2015.
The company stated the resignation is for personal reasons and to pursue new professional aspirations.

💡 This is a routine management change at the General Manager level; investors should monitor for the appointment of a successor to ensure procurement and supply chain stability.

Butterfly Gandhimathi Appoints Ramesh S as Head of Procurement Effective April 2026

🟢 POSITIVE ⭐ 4/10

MANAGEMENT 📅 04 Feb 2026, 07:39 PM

Butterfly Gandhimathi Appliances has appointed Mr. Ramesh S as the Head of Procurement and Senior Management Personnel, with his term starting on April 3, 2026. Mr. Ramesh brings nearly 28 years of extensive experience in supply chain management and procurement from major OEMs like Royal Enfield and Mahindra. Notably, he has a track record of scaling production, having previously increased output from 10,000 to 80,000 units per year at Mahindra Last Mile Mobility. This appointment is expected to bolster the company's strategic sourcing and operational scaling capabilities.

Appointment of Mr. Ramesh S as Head of Procurement effective April 3, 2026.
Appointee brings 28 years of experience in Supply Chain Management and Sourcing from automotive and industrial sectors.
Previously scaled production from 10,000 to 80,000 units annually at Mahindra Last Mile Mobility.
Extensive background includes leadership roles at Royal Enfield, TAFE, and Elgi Equipments.
Expertise covers end-to-end Supply Chain Management, Procurement, and New Product Development.

💡 Investors should view this as a positive move for long-term operational efficiency; monitor for improvements in procurement costs and supply chain stability following his transition in 2026.

Butterfly Gandhimathi Q3 FY26 PAT Rises 30% YoY to ₹10.8 Cr; Revenue Up 3%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 04 Feb 2026, 06:44 PM

Butterfly Gandhimathi reported a 3% YoY revenue growth to ₹245 crore for Q3 FY26, driven by strong performance in cookers and gas stoves. Net profit increased by 30% YoY to ₹10.77 crore, despite a ₹1.6 crore exceptional charge related to new labor code provisions. Operational efficiency improved significantly, with material margins expanding by 300 bps to 38.8% and EBITDA margins rising to 8.2%. The company's focus on premiumization and retail expansion helped offset inflationary pressures.

Net Profit grew 30% YoY to ₹10.77 Cr; excluding exceptional items, PAT grew 44% YoY.
Revenue from operations increased 3% YoY to ₹244.58 Cr for the quarter ended Dec 31, 2025.
Material margins expanded by 300 bps YoY to 38.8% due to better product mix and pricing.
EBITDA grew 17% YoY to ₹20 Cr with margins improving by 100 bps to 8.2%.
Recognized an exceptional liability of ₹1.59 Cr following the implementation of New Labour Codes.

💡 Investors should focus on the significant margin improvement and premiumization strategy which is driving bottom-line growth. The company's ability to grow profits significantly faster than revenue indicates strong operational leverage and pricing power.

Butterfly Gandhimathi Q3 PAT Rises 30% YoY to ₹10.77 Cr; EBITDA Margin Expands to 8.2%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 04 Feb 2026, 06:39 PM

Butterfly Gandhimathi reported a steady 3% YoY revenue growth to ₹245 Cr for Q3 FY26, while net profit surged 30% to ₹10.77 Cr. Excluding a one-time exceptional charge of ₹1.59 Cr related to new labour codes, adjusted PAT grew by a robust 44% YoY. The company saw significant margin expansion, with material margins improving by 300 bps to 38.8% due to better pricing and a premium product mix. EBITDA grew 17% YoY to ₹20 Cr, reflecting strong operational efficiency despite a sequential dip in revenue compared to the previous quarter.

Revenue for Q3 FY26 stood at ₹245 Cr, a 3% increase compared to ₹238 Cr in Q3 FY25.
Net Profit (PAT) grew 30% YoY to ₹10.77 Cr; excluding exceptional items, PAT growth was 44%.
EBITDA margin expanded by 100 bps YoY to 8.2%, driven by a 300 bps improvement in material margins.
Recognized an exceptional expense of ₹1.59 Cr due to the implementation of New Labour Codes effective Nov 2025.
9M FY26 revenue reached ₹725 Cr with a PAT of ₹34.20 Cr, marking a 45% YoY growth in net profit.

💡 Investors should monitor the company's successful premiumization strategy and margin expansion, which are driving bottom-line growth despite modest top-line increases. The stock remains a strong regional player with improving operational efficiency.

Butterfly Gandhimathi Q3 PAT Rises 30% YoY to ₹10.77 Cr; EBITDA Margins Expand 100 bps

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 04 Feb 2026, 06:37 PM

Butterfly Gandhimathi reported a steady Q3 FY26 with revenue growing 3% YoY to ₹244.58 Cr, supported by strong momentum in the cookers and gas stoves segments. Net profit (PAT) increased by 30% YoY to ₹10.77 Cr, even after accounting for a one-time exceptional expense of ₹1.59 Cr related to new labor code provisions. Excluding this exceptional item, PAT growth was robust at 44% YoY. The company demonstrated significant operational efficiency, with material margins expanding by 300 bps to 38.8% and EBITDA margins rising to 8.2%.

Revenue from operations grew 3% YoY to ₹244.58 Cr for the quarter ended December 31, 2025.
EBITDA increased by 17% YoY to ₹20 Cr, with EBITDA margins expanding 100 bps to 8.2%.
Net Profit (PAT) rose 30% YoY to ₹10.77 Cr; excluding exceptional items, PAT grew 44% YoY to ₹12.36 Cr.
Material margins improved by 300 bps YoY to 38.8% driven by better product mix and pricing actions.
Recognized a one-time exceptional liability of ₹159.18 Lakhs due to the implementation of New Labour Codes.

💡 Investors should focus on the company's successful margin expansion and premiumization strategy which is driving profitability despite modest revenue growth. The impact of the new labor codes appears to be a manageable one-time hit, while operational metrics remain strong.

CRISIL Reaffirms Butterfly Gandhimathi's AA/Stable Credit Rating; Facilities Reduced to Rs 100 Cr

🟢 POSITIVE ⭐ 6/10

ROUTINE 📅 27 Jan 2026, 07:25 PM

CRISIL Ratings has reaffirmed the credit ratings for Butterfly Gandhimathi Appliances Limited's bank loan facilities. The long-term rating is maintained at 'CRISIL AA/Stable' and the short-term rating at 'CRISIL A1+', indicating a high degree of safety regarding timely servicing of financial obligations. Notably, the total rated bank loan facilities have been reduced from Rs 225 crore to Rs 100 crore, suggesting a lower requirement for external debt or improved internal accruals.

Long-term credit rating reaffirmed at 'CRISIL AA' with a 'Stable' outlook
Short-term credit rating reaffirmed at the highest level of 'CRISIL A1+'
Total rated bank loan facilities reduced significantly from Rs 225 crore to Rs 100 crore
The ratings reflect the company's strong credit profile and financial stability as of January 2026

💡 Investors can take confidence in the company's maintained high credit quality and reduced debt facilities. No immediate action is required as the reaffirmation confirms the existing financial strength of the business.

Butterfly Gandhimathi Submits Q3 FY26 Share Dematerialization Certificate

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 09 Jan 2026, 04:14 PM

Butterfly Gandhimathi Appliances Limited has filed its quarterly compliance certificate under SEBI (Depositories and Participants) Regulations for the period ending December 31, 2025. The company's Registrar, GNSA Infotech, confirmed the processing of 14 physical share certificates during this quarter. These certificates, representing 2,033 equity shares, were verified, mutilated, and cancelled. This routine filing ensures that the company's share records are accurately updated in electronic format with the depositories.

Quarterly compliance certificate submitted for the period ended December 31, 2025
Processed 14 physical share certificates for dematerialization
Total of 2,033 equity shares converted to electronic form
Registrar GNSA Infotech confirmed the cancellation of physical certificates

💡 This is a routine administrative update with no impact on company fundamentals; no action is required from investors.

Butterfly Gandhimathi: Shantanu Khosla Resigns as Non-Executive Director Effective Dec 31, 2025

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 05 Jan 2026, 04:48 PM

Mr. Shantanu Khosla has resigned from his position as a Non-Executive, Non-Independent Director at Butterfly Gandhimathi Appliances Limited. The resignation was effective from the close of business hours on December 31, 2025. This move follows the completion of his tenure at the holding company, Crompton Greaves Consumer Electricals Limited, where he served as an authorized representative. The company has confirmed that there are no other material reasons for his departure beyond the end of his tenure at the parent entity.

Resignation of Mr. Shantanu Khosla (DIN: 00059877) effective December 31, 2025.
Departure is linked to the end of his tenure at the holding company, Crompton Greaves Consumer Electricals Limited.
Khosla served as a Non-Executive, Non-Independent Director representing the parent company.
The company explicitly stated there are no other material reasons for the resignation.

💡 This is a routine management transition following a tenure completion at the parent company level. No immediate action is required as it does not impact the company's core operations.

Butterfly Gandhimathi Receives GST Demand Order of ₹9.2 Lakh for FY 2021-22

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 31 Dec 2025, 06:23 PM

Butterfly Gandhimathi Appliances Limited has received a GST demand order totaling ₹9,20,854 from the Deputy Commissioner, Vijayawada. The demand includes a tax component of ₹5,21,508, interest of ₹3,47,195, and a penalty of ₹52,151 for the period April 2021 to March 2022. The dispute arises from the alleged disallowance of GST on credit notes issued to customers. The company intends to appeal the order and maintains that there will be no material impact on its financial or operational activities.

Total demand of ₹9,20,854 raised under section 73 of the GST Act, 2017.
Demand includes ₹5,21,508 in tax, ₹3,47,195 in interest, and ₹52,151 in penalties.
The issue pertains to the alleged disallowance of GST on credit notes issued to customers for FY 2021-22.
Company plans to appeal the order before the Commissioner (Appeals) and expects a favorable outcome.
Management confirms no material impact on the company's financial or operational performance.

💡 This is a routine regulatory matter involving a negligible amount relative to the company's scale. No immediate action is required as it does not affect the company's fundamental outlook.

Butterfly Gandhimathi to Close Trading Window from Jan 1, 2026 for Q3 FY26 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 29 Dec 2025, 04:11 PM

Butterfly Gandhimathi Appliances Limited has announced the closure of its trading window for designated persons starting January 1, 2026. This routine regulatory measure is in compliance with SEBI's Prohibition of Insider Trading Regulations for the upcoming financial results for the quarter and nine months ending December 31, 2025. The window will remain closed until 48 hours after the standalone unaudited financial results are declared. The specific date for the board meeting to approve these results will be notified to the exchanges in due course.

Trading window closure commences on January 1, 2026, for all designated persons and their relatives.
The closure is related to the approval of standalone unaudited financial results for the period ending December 31, 2025.
The restriction will be lifted 48 hours after the official declaration of the quarterly results.
The board meeting date for the results announcement is yet to be finalized and will be intimated later.

💡 This is a standard regulatory filing and does not require any immediate action from retail investors. Investors should await the announcement of the board meeting date to track the company's Q3 financial performance.

Butterfly Gandhimathi Reconstitutes CSR Committee Effective January 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 23 Dec 2025, 12:31 PM

Butterfly Gandhimathi Appliances Limited has announced the reconstitution of its Corporate Social Responsibility (CSR) Committee, effective from January 1, 2026. Mr. Kaleeswaran Arunachalam, a Non-Executive Non-Independent Director, has been inducted as a member and appointed as the Chairperson of the committee. The committee will continue to have three members, including two Independent Directors, Mr. P.M. Murty and Ms. Smita Anand. This administrative change was approved by the Board of Directors through a circular resolution on December 23, 2025.

Reconstitution of the CSR Committee effective from January 1, 2026
Mr. Kaleeswaran Arunachalam appointed as the new Chairperson of the CSR Committee
Committee composition includes 2 Non-Executive Independent Directors and 1 Non-Independent Director
Board approval finalized via circular resolution on December 23, 2025

💡 This is a routine governance update with no impact on the company's financial operations. No action is required from investors based on this announcement.

Butterfly Gandhimathi: Court awards AED 25,000 compensation

🟡 NEUTRAL ⭐ 4/10

LEGAL 📅 12 Dec 2025, 06:58 PM

Butterfly Gandhimathi Appliances Limited has informed the exchange about an order passed by a Civil Court in Abu Dhabi. The court awarded a compensation of AED 25,000 to a consumer who alleged injury while using a Butterfly product. The company states that this order is appealable and there is no material impact on the company's financials, operations, or other activities. Investors should note that this is a single legal event and its financial impact is limited.

Civil Court, Abu Dhabi, passed the order.
Compensation of AED 25,000 awarded.
Order received on 12-12-2025 at 1.41 P.M.
Consumer alleged injury using a Butterfly product.

💡 Investors should monitor future legal updates from the company, though the current financial impact appears minimal. No immediate action is required.

Shantanu Khosla Resigns as Non-Executive Director of Butterfly Gandhimathi Effective Dec 31, 2025

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 09 Dec 2025, 04:33 PM

Mr. Shantanu Khosla has resigned from his position as a Non-Executive, Non-Independent Director at Butterfly Gandhimathi Appliances Limited, effective December 31, 2025. This resignation is a direct consequence of his tenure ending at the holding company, Crompton Greaves Consumer Electricals Limited, where he served as an authorized representative. Along with his board seat, he will vacate his positions on the Risk Management and CSR Committees. The company has confirmed that there are no material reasons for this departure other than the completion of his term at the parent company.

Resignation of Mr. Shantanu Khosla effective from the close of business hours on December 31, 2025
Departure is linked to the end of his tenure at the holding company, Crompton Greaves Consumer Electricals Limited
Cessation of roles as Chairperson of the CSR Committee and Member of the Risk Management Committee
Company confirms no other material reasons for the resignation beyond tenure completion

💡 This is a routine administrative change following the end of a director's tenure at the parent company level. Investors should monitor for the appointment of a new representative from Crompton Greaves to ensure continued board oversight.

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💰 Financial Performance

Revenue Growth by Segment

Total revenue from operations decreased by 7.17% YoY to INR 864.50 Cr in FY25 from INR 931.28 Cr in FY24. While the first half of FY25 saw a decline, the second half achieved a 5% revenue growth following strategic pricing and marketing interventions.

Geographic Revenue Split

The company has a heavy geographic concentration in South India, where it is a top three player. It maintains a distribution network of 29,000+ retailers and 750+ distributors in the region.

Profitability Margins

Operating profit margin improved significantly to 7.55% in FY25 from 2.94% in FY24. Net profit margin increased to 3.76% from 0.79% YoY, driven by margin improvements and strict control on spends.

EBITDA Margin

EBITDA margin stood at 7.55% (INR 65.25 Cr) in FY25, a substantial increase from 2.71% (INR 25.26 Cr) in FY24, reflecting improved equity utilization and stronger profitability.

Capital Expenditure

Capital expenditure is described as moderate and is expected to be funded through internal cash accruals of INR 50-70 Cr per annum over the medium term.

Credit Rating & Borrowing

The company maintains a strong financial risk profile with an interest coverage ratio of 12.58x in FY25, up from 4.26x in FY24. Debt is minimal with a debt-equity ratio of 0.04x.

⚙️ Operational Drivers

Raw Materials

Specific raw materials like steel, aluminum, and plastics are used for kitchen appliances; however, their specific percentage of total cost is not disclosed in available documents.

Capacity Expansion

Current capacity is not specified in units, but the company plans moderate expansion funded by internal accruals of INR 50-70 Cr annually.

Raw Material Costs

Raw material costs are a significant driver, with operating profitability susceptible to price volatility. In FY25, COGS reduction was in line with sales, helping to improve margins to 7.55%.

Manufacturing Efficiency

Manufacturing efficiency is managed through cost optimization and product laddering; specific capacity utilization percentages are not disclosed.

Logistics & Distribution

Distribution is handled through 29,000+ retailers and 750+ distributors, with a significant focus on e-commerce and online channels.

📈 Strategic Growth

Expected Growth Rate

12%

Growth Strategy

Growth will be achieved through premiumization (introducing high-end product variants), increasing digital penetration, and a proposed merger with CGCEL to realize synergies, simplify governance, and align shareholder interests.

Products & Services

LPG stoves, mixer grinders, wet grinders, pressure cookers, and vacuum flasks.

Brand Portfolio

Butterfly

New Products/Services

Introduction of premium product variants and high-potential offerings to enhance brand equity; specific revenue contribution % not disclosed.

Market Expansion

Focus on expanding digital penetration and strengthening the existing retail network of 29,000+ outlets in South India.

Market Share & Ranking

Top 3 player in mixer grinders, pressure cookers, and LPG stoves in South India.

Strategic Alliances

Proposed merger with parent company Crompton Greaves Consumer Electricals Limited (CGCEL).

🌍 External Factors

Industry Trends

The kitchen appliance industry is evolving toward premiumization and digital sales. BGAL is positioning itself by focusing on high-margin premium variants and e-commerce growth.

Competitive Landscape

Intense competition from both organized and unorganized players in the cookware and kitchen appliance segments.

Competitive Moat

The moat consists of a 20-year brand legacy and a dominant distribution network in South India. This is sustainable due to the strong managerial and operational support from parent CGCEL.

Macro Economic Sensitivity

The company is sensitive to inflation and sluggish market demand, which contributed to a 7.17% revenue decline in FY25.

Consumer Behavior

Shift toward premium products and increased adoption of online shopping for kitchen appliances.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to safety standards (HIRA), environmental regulations (EPR), and accounting standards for financial reporting.

Environmental Compliance

The company is committed to eco-friendly packaging and waste minimization. FY24 margins were impacted by Extended Producers’ Responsibility (EPR) costs.