Crompton Greaves Consumer Electricals Limited (CROMPTON)
₹215.50 -0.02% last close, 16 Oct
Q2 FY27 results
Crompton Greaves Consumer Electricals Limited reported Q2 FY27 results on 16 Oct 2026: revenue ₹2,263 Cr (+18.2% year on year, +1.3% on the previous quarter), and net profit ₹124 Cr (+64.9% year on year); the operating margin was 9.0%.
| Q2 FY27 (₹ Cr) | Value | YoY vs Q2 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹2,263 | +18.2% | +1.3% |
| Operating profit | ₹205 | +29.2% | -8.8% |
| Net profit | ₹124 | +64.9% | -12.8% |
| EPS (₹) | 1.85 | +66.7% | -15.1% |
| Operating margin | 9.0% | — | — |
- Profit +83% above its own trend
- H1 FY27 operating cash flow was negative despite a profit
Quality of profit: of pre-tax profit of ₹167 Cr, ₹149 Cr (89%) came from the core business and the rest from other income and one-off items. Core profit (operating profit less interest and depreciation) moved +36.8% year on year.
Against its own trend: net profit of ₹124 Cr was +82.8% against the ₹68.1 Cr its recent growth pointed to (above trend). This is a statistical baseline, not an analyst estimate.
Share price since the results: -0.0% (close before the filing to the latest close).
CROMPTON delivery percentage and open interest
NSE end-of-day data for
On Fri, 16 Oct 2026, 24.69% of the CROMPTON shares traded on NSE were taken to delivery, against the stock's own 20-session average of 47.45%. That is lower than usual for this stock. It traded 6.4 times its average daily volume. In CROMPTON futures, open interest rose 0.52% while the futures price fell 0.51%: short buildup (new short positions).
Delivery in the last 5 sessions: 51.9% · 50.7% · 50.9% · 31.0% · 24.7%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Crompton Greaves Consumer Electricals reported strong consolidated performance for Q2 FY27, with revenue growing 18.2% YoY to ₹2,263 Cr and net profit jumping 65.1% YoY to ₹125 Cr. Operating performance showed resilience, with EBITDA rising 24.1% YoY to ₹205 Cr (margin of 9.0%, up 40 bps) supported by operating leverage and price increases. Growth was led by the ECD segment which expanded 19.2% YoY to ₹1,634 Cr, marking its highest quarterly growth in 9 quarters, while subsidiary Butterfly grew 13.1% YoY to ₹331 Cr.
- Consolidated revenue increased 18.2% YoY to ₹2,263 Cr from ₹1,916 Cr in Q2 FY26
- Consolidated PAT surged 65.1% YoY to ₹125 Cr, with Basic EPS rising to ₹1.85 from ₹1.11
- Consolidated EBITDA improved 24.1% YoY to ₹205 Cr, delivering a margin of 9.0% (+40 bps YoY)
- ECD segment revenue rose 19.2% YoY to ₹1,634 Cr with EBIT expanding 30.7% YoY to ₹189 Cr
- Butterfly revenue rose 13.1% YoY to ₹331 Cr with PAT of ₹20 Cr (+18.7% YoY)
Crompton Greaves Consumer Electricals reported consolidated revenue from operations of ₹2,263.29 crore for Q2 FY27 (quarter ended September 30, 2026), marking an 18.2% increase YoY from ₹1,915.57 crore in Q2 FY26. For the half-year ended September 30, 2026, consolidated revenue rose 14.9% YoY to ₹4,498.31 crore compared to ₹3,913.95 crore. The company also announced key leadership changes, appointing Aruna Arulsingh as Head - Legal, Company Secretary, and Compliance Officer, along with Dipalok Choudhary as Head - Internal Audit and Risk Assurance.
- Q2 consolidated revenue from operations reached ₹2,263.29 crore, up 18.2% YoY from ₹1,915.57 crore
- Half-year consolidated revenue reached ₹4,498.31 crore versus ₹3,913.95 crore in the prior-year period
- Standalone profit before tax for H1 stood at ₹337.11 crore compared to ₹261.98 crore in H1 FY26
- Appointment of Aruna Arulsingh as Head - Legal & CS effective October 16, 2026, and Compliance Officer from October 17, 2026
Crompton Greaves Consumer Electricals released its Q2 FY27 investor presentation, reporting an 18.2% YoY consolidated revenue growth, marking its third consecutive quarter of double-digit expansion. Consolidated EBIT margins expanded 70 bps YoY to 7.0%, while PBT margins increased 210 bps to 7.4%. Operating cash flows turned negative at -₹237.10 Cr for H1 FY27, driven by a ₹325.45 Cr increase in inventories to normalize supply chains. The company outlined its FY29 ambition targeting 13-14% revenue CAGR and 11-12% exit EBITDA margins.
- Consolidated revenue grew 18.2% YoY in Q2 FY27, accelerating from 11.8% in Q1 FY27
- EBIT margin and PBT margin expanded by 70 bps to 7.0% and 210 bps to 7.4% respectively
- Net cash used in operating activities stood at -₹237.10 Cr for H1 FY27 due to ₹325.45 Cr inventory buildup
- FY29 targets reiterate 13-14% revenue CAGR and 11-12% exit EBITDA margins with ~₹120 Cr annual capex
Crompton Greaves Consumer Electricals submitted its unaudited financial results for Q2 and H1 ended September 30, 2026. Standalone profit before tax for H1 FY27 increased 28.7% YoY to ₹337.11 crore from ₹261.98 crore in the prior-year period. However, operating cash flow turned negative at -₹165.39 crore in H1 compared to +₹44.99 crore last year, largely due to working capital expansion including a ₹271.42 crore inventory buildup. Alongside results, the Board appointed Ms. Aruna Arulsingh as Company Secretary & Compliance Officer and Mr. Dipalok Choudhary as Head of Internal Audit and Risk Assurance.
- Standalone H1 FY27 PBT reached ₹337.11 crore, up 28.7% from ₹261.98 crore in H1 FY26
- Net operating cash outflow stood at ₹165.39 crore for H1 FY27 vs ₹44.99 crore inflow in H1 FY26, driven by a ₹271.42 crore increase in inventories
- Dividend payout consumed ₹193.17 crore of cash flows during the half-year
- Appointed Ms. Aruna Arulsingh as CS & Compliance Officer and Mr. Dipalok Choudhary as Head - Internal Audit & Risk Assurance effective October 16, 2026
Crompton Greaves Consumer Electricals Limited has received an order from the District Consumer Disputes Redressal Commission, Delhi, directing the company to refund ₹10,400 to a customer for a malfunctioning motor pump. The complainant had initially filed a claim seeking ₹1,60,400. In case of non-compliance, an interest penalty of 7% per annum will apply from the date of the order until payment. The financial impact of ₹10,400 is entirely immaterial against the company's TTM revenue of ₹8,332 crore.
- District Consumer Commission directed refund of ₹10,400 for a motor pump
- Complainant had originally filed for ₹1,60,400
- Default penalty incurs interest at 7% p.a. from the date of the order
- Order was received by the company on October 14, 2026
Crompton Greaves Consumer Electricals announced the launch of its InstaNourish Pro Multi-Purpose Kettle, priced at an MRP of ₹2,700 with a 1.2-litre capacity and 600W power rating. The company also rolled out the INTELLISENSE SmartPro controller, supporting single-phase submersible pumps up to 2 HP with an IP65 weatherproof rating. Additionally, Crompton launched an AI-powered Durga Puja festive campaign centered on its pump ecosystem. These product additions support the company's kitchen appliance and smart water management categories, though financial impact relative to Crompton's ₹8,332 Cr TTM revenue base remains marginal.
- InstaNourish Pro Multi-Purpose Kettle launched at an MRP of ₹2,700 with a 1-year warranty
- Kettle features a 1.2-litre capacity and 600W operating power
- INTELLISENSE SmartPro water controller supports single-phase submersible pumps up to 2 HP
- SmartPro includes a 12-month standard warranty and an optional additional 6-month warranty on bundled pump purchases
Crompton Greaves Consumer Electricals received an appellate order from the Additional Commissioner (Appeals), Chandigarh, confirming a GST demand of ₹1.59 crore. The demand comprises tax of ₹83.35 lakh, interest of ₹67.58 lakh, and a penalty of ₹8.34 lakh concerning alleged excess ITC claims and reversals. The disputed amount represents approximately 0.02% of the company's TTM revenue of ₹8,332 crore, posing negligible financial impact. Crompton stated it plans to appeal the order under Section 112 of the SGST Act, 2017.
- Appellate authority confirmed a tax demand totaling ₹1,59,27,495 against Crompton.
- The total demand includes tax of ₹83,35,460, interest of ₹67,58,490, and a penalty of ₹8,33,545.
- Matter relates to alleged excess Input Tax Credit (ITC) in GSTR-3B vs 2A and ITC reversal on exempted supplies.
- Company plans to file an appeal before the appellate tribunal under Section 112 of the SGST Act, 2017.
- Order was received by the company on September 30, 2026.
Crompton Greaves Consumer Electricals Limited has launched its new WallSmile Outdoor Deco Wall Light Range, expanding its decorative exterior lighting portfolio. The range includes four variants (Halo, Prism, Nexo, Linea) priced from Rs 1,000 to Rs 2,000 with wattages spanning 4W to 6W. The products feature IP54 water resistance, 3kV surge protection, and a one-year warranty, distributed via retail stores and e-commerce platforms. Given Crompton's TTM revenue of Rs 8,332 Cr, this product line addition is a routine portfolio extension and not financially material in the near term.
- Launched 4 models: WallSmile Halo (5W) at Rs 1,000 MRP and Prism (4W) at Rs 2,000 MRP
- WallSmile Nexo (5W) priced at Rs 1,200 MRP and Linea (6W) at Rs 1,500 MRP
- Technical specifications include IP54 water resistance, up to 3kV surge protection, and CRI >80
- Comes backed by a 1-year product warranty
Crompton Greaves Consumer Electricals Limited has scheduled a virtual one-to-one meeting with Schonfeld Strategic Advisors for September 17, 2026, between 12:00 PM and 1:00 PM IST. The company confirmed that no unpublished price-sensitive information (UPSI) will be shared during the session. This is a routine institutional investor interaction and carries no immediate financial or operational impact for the Rs 14,115 crore market cap company.
- Virtual one-to-one meeting scheduled for September 17, 2026
- Interaction timed from 12:00 pm to 01:00 pm
- Meeting arranged with Schonfeld Strategic Advisors
- Company confirmed no unpublished price sensitive information will be shared
Crompton Greaves Consumer Electricals received an appellate order from the Deputy Commissioner (Appeals), Chennai, upholding an interest demand of ₹8,37,680 for the period July 2017 to March 2018. The demand stems from delayed filing of GSTR-3B, which the company claims was caused by GSTN portal technical glitches while tax was already deposited in the cash ledger. The amount comprises CGST of ₹1,02,449 and SGST of ₹7,35,231, with zero additional tax demand. Crompton intends to challenge the order under Section 112 of the SGST Act, 2017.
- Total interest demand upheld stands at ₹8,37,680 (CGST of ₹1,02,449 and SGST of ₹7,35,231)
- Applicable tax demand is Nil; entire disputed figure is interest on delayed return filing
- Pertains to the financial year 2017-18 (July 2017 to March 2018)
- Order received on September 10, 2026, at 18:36 PM from Deputy Commissioner (Appeals), Chennai
- Company plans to appeal under Section 112 of the SGST Act, 2017
Crompton Greaves Consumer Electricals Limited has scheduled a virtual one-on-one meeting with Eternal Capital on September 16, 2026, from 06:30 pm to 07:30 pm. The company explicitly noted that no unpublished price sensitive information (UPSI) will be discussed during this interaction. This is a routine institutional investor engagement disclosure mandated under SEBI Listing Regulations.
- Meeting scheduled with Eternal Capital on September 16, 2026
- Time of interaction set for 06:30 pm to 07:30 pm via virtual mode
- Interaction format is a one-to-one meeting
- Confirmation that no unpublished price sensitive information (UPSI) will be shared
Crompton Greaves Consumer Electricals Limited has scheduled physical one-to-one institutional investor meetings on September 15, 2026. The company is set to meet Invesco Mutual Fund from 9:15 am to 10:30 am and Bandhan Mutual Fund from 11:00 am to 12:00 pm. The company explicitly confirmed that no unpublished price sensitive information (UPSI) will be shared during these interactions.
- One-to-one meeting scheduled with Invesco MF on September 15, 2026, between 09:15 am and 10:30 am
- One-to-one meeting scheduled with Bandhan MF on September 15, 2026, between 11:00 am and 12:00 pm
- Physical interaction mode confirmed by CFO Kaleeswaran Arunachalam on September 10, 2026
- Company confirmed no unpublished price sensitive information (UPSI) will be disclosed
Crompton Greaves Consumer Electricals Limited has scheduled a one-to-one physical meeting with institutional investor Amansa Capital on September 11, 2026, from 02:30 PM to 03:30 PM. The company confirmed that no unpublished price sensitive information (UPSI) will be shared during the interaction. This filing is a routine disclosure pursuant to Regulation 30 of the SEBI LODR Regulations.
- One-to-one meeting scheduled with Amansa Capital on September 11, 2026
- Meeting time slated for 02:30 PM to 03:30 PM in physical mode
- Company confirmed no unpublished price sensitive information will be shared
Crompton Greaves Consumer Electricals Limited has scheduled a one-to-one physical meeting with institutional investor East Bridge Capital Management. The interaction is set to take place on September 09, 2026, between 09:30 AM and 11:00 AM IST. The company confirmed that no unpublished price sensitive information (UPSI) will be shared during the interaction. This is a standard statutory disclosure under SEBI LODR regulations.
- Meeting scheduled for September 09, 2026 from 09:30 am to 11:00 am
- Format: Physical one-to-one meeting with East Bridge Capital Management
- No unpublished price sensitive information (UPSI) to be shared
Crompton Greaves Consumer Electricals submitted a revised Investor Day 2026 presentation detailing its 'Crompton 2.0' strategic roadmap. The company outlined a 3-year checkpoint target of ~13-14% revenue CAGR by FY29 and a 5-year ambition to double revenue by FY31, with profit growth outpacing revenue. FY26 revenue stood at Rs 8,096 Cr, supported by a premium product mix rising to 27% and an expanding net cash balance of Rs 1,155 Cr. Management highlighted that increased growth investments (5.4% of revenue in FY26 vs 2.1% in FY22) are being funded entirely through operational efficiencies and internal cash generation.
- Targeting ~13-14% revenue CAGR by FY29 and doubling revenue by FY31 with profit growing ahead of top line.
- FY26 revenue closed at Rs 8,096 Cr, growing at a 10.7% CAGR from FY22 (Rs 5,394 Cr).
- Growth investments increased to 5.4% of revenue in FY26 (A&P 3.7%, R&D 1.0%, transformation 0.7%) vs 2.1% in FY22.
- Fixed costs reduced by 120 bps to 11.4% of revenue in FY26, aided by Project Unnati productivity savings of 4.0%.
- Net cash position improved to Rs 1,155 Cr as of March 31, 2026, with an average 5-year operating cash flow of ~Rs 720 Cr.
Financial Performance
Revenue Growth by Segment
Consolidated revenue from operations grew 7.53% YoY to INR 7,863.55 Cr in FY25. Lighting segment demonstrated 3.1% YoY growth with a 50% YoY increase in EBIT. The Butterfly kitchen business saw EBITDA growth of 21%, while the Crompton kitchen business grew at a comparable or slightly higher rate. However, Q2 FY26 net sales showed a slight decline of 0.8% YoY to INR 1,632 Cr due to unfavorable weather impacting seasonal categories.
Geographic Revenue Split
The company reported growth in its export business during FY25, though specific regional percentage splits are not disclosed. Domestic operations remain the primary driver, with a focus on expanding the global footprint to reach new consumers.
Profitability Margins
Consolidated Net Profit Margin improved to 7.17% in FY25 from 6.04% in FY24. Standalone Operating Profit Margin stood at 10.78% for FY25. However, Q2 FY26 margins faced pressure, with Adjusted Net Profit margin at 5.2% compared to 7.5% YoY, primarily due to higher material costs and transformation expenses.
EBITDA Margin
Consolidated EBITDA margin for Q2 FY26 stood at 8.0%, a decline from 11.0% in Q2 FY25. This 300 bps compression was driven by adverse product mix in the Electrical Consumer Durables (ECD) segment and increased investments in brand building and digital transformation (Crompton 2.0).
Capital Expenditure
The company maintains a modest capex policy, with annual cash accruals of INR 500-600 Cr being sufficient to cover debt obligations and planned capital expenditure. Specific historical INR Cr figures for FY25 capex were not explicitly detailed, but liquidity remains strong with cash equivalents of INR 543 Cr as of September 2024.
Credit Rating & Borrowing
CRISIL maintains a 'Stable' outlook with high credit ratings. The company has a term debt of INR 300 Cr in the form of NCDs scheduled for repayment in July 2025. Interest coverage ratio for FY25 was 10.77, reflecting a robust ability to service debt despite a decrease from 27.01 in the previous year.
Operational Drivers
Raw Materials
Key raw materials include commodities used in electrical goods (steel, copper, and aluminum), with total material costs accounting for 67.06% of revenue (INR 5,273.33 Cr) in FY25, up from 68.38% in FY24.
Import Sources
Not specifically disclosed in the documents, though global supply chain risks and China's inflation rates (forecasted at 4.6% in 2025) are monitored as they impact input costs.
Capacity Expansion
The company is undergoing a manufacturing transformation, including the restructuring of the Baroda plant (incurring a one-time cost of INR 20.36 Cr) to optimize the production model and achieve higher economies of scale.
Raw Material Costs
Material costs as a percentage of net sales were 69.7% in Q2 FY26, compared to 68.1% in Q2 FY25. This 160 bps increase was driven by commodity price movements and an adverse mix of seasonal products.
Manufacturing Efficiency
The company is shifting towards a more efficient production model to achieve economies of scale. Inventory turnover ratio (on COGS) was 6.70 in FY25, slightly down from 6.48 in FY24.
Logistics & Distribution
The company is investing in Go-To-Market (GTM) processes and digital transformation to enhance distribution efficiency, though specific logistics costs as a % of revenue were not provided.
Strategic Growth
Expected Growth Rate
10-12%
Growth Strategy
Growth will be driven by the 'Crompton 2.0' transformation, focusing on brand building, GTM excellence, and digital acceleration. The company is expanding into high-growth segments like Solar Rooftop (INR 500 Cr order book) and BLDC fans, while leveraging the Butterfly acquisition to scale the kitchen appliances vertical.
Products & Services
Fans (Ceiling, TPW, BLDC), LED Lighting, Pumps, Solar Water Pumps, Solar Rooftop systems, and Kitchen Appliances (Mixer Grinders, Cooktops).
Brand Portfolio
Crompton, Butterfly.
New Products/Services
Significant focus on BLDC fans and Solar Rooftop solutions. The Solar Rooftop business has an order book of INR 500 Cr executable over 6-12 months.
Market Expansion
The company is gaining market share in fans and pumps despite difficult market conditions. It is also expanding its presence in the premium kitchen segment through the Butterfly brand.
Market Share & Ranking
Crompton maintains market leadership in fans and residential pumps. It is a top player in the LED lighting segment with a 15.5% EBIT margin.
External Factors
Industry Trends
The industry is shifting toward energy-efficient products due to regulatory changes like the BEE transition (effective Jan 1, 2026). There is a growing trend toward BLDC technology in fans and solar-powered consumer solutions.
Competitive Landscape
Faces intense competition in the kitchen and lighting segments, which has historically limited pricing flexibility and necessitated high promotional spending.
Competitive Moat
Crompton's moat is built on its strong brand legacy, a vast distribution network (GTM excellence), and market leadership in core categories like fans. These are sustained through continuous R&D and high-decibel marketing (A&P spend was INR 305.75 Cr in FY25).
Macro Economic Sensitivity
Sensitive to rural demand recovery and inflation. China's 4.6% growth forecast and global fiscal packages are noted as factors influencing the broader economic environment.
Consumer Behavior
Shift toward premium and energy-efficient appliances (BLDC fans) and increasing adoption of solar energy solutions for residential use.
Geopolitical Risks
Geopolitical tensions are identified as risks that could impact supply chains, global trade, and investment flows.
Regulatory & Governance
Industry Regulations
Mandatory BEE (Bureau of Energy Efficiency) star labeling transition for fans effective January 1, 2026, which impacts inventory planning and manufacturing standards.
Environmental Compliance
The company is focused on creating products with reduced environmental impact throughout their lifecycle and adheres to ESG profiles supported by CRISIL.
Taxation Policy Impact
Effective tax rate for FY25 was approximately 25.4% (INR 192.13 Cr tax on INR 756.21 Cr PBT).
Risk Analysis
Key Uncertainties
Commodity price volatility (copper/steel) and unfavorable weather patterns pose a 2-3% risk to operating margins. The success of the 'Crompton 2.0' transformation is critical for long-term returns on current high investments.
Geographic Concentration Risk
Primarily concentrated in the Indian market, with a growing but currently smaller contribution from exports.
Third Party Dependencies
Dependency on channel partners for inventory management; weather-induced stocking issues can lead to temporary liquidity blocks in the supply chain.
Technology Obsolescence Risk
Risk of falling behind in the transition to BLDC technology or smart-home integration, mitigated by increased R&D and digital investments.
Credit & Counterparty Risk
Debtors turnover ratio of 11.23 indicates healthy collections and high-quality receivables.
