Crompton Greaves Consumer Electricals maintains growth trajectory with strong market performance

Crompton Greaves Consumer Electricals has demonstrated consistent growth over the past five quarters, driven by strong performance in various segments.

The fan division has benefited from increased sales of non-ceiling fans, while the pump segment has experienced a robust 20% year-on-year growth, supported by demand for residential and solar pumps.

The appliances category has also thrived, thanks to e-commerce and modern trade channels, as well as new product launches.

The company is expanding its market presence, with alternative channels growing by 21% year-on-year and increased spending on advertising and promotions by 69%.

Analysts project a compound annual growth rate of 12.8% for revenue, 20.3% for EBITDA, and 25.0% for PAT from FY24 to FY27.

Although there has been a slight downward revision in earnings estimates for FY25 and FY26 by 2.5% and 1.4% respectively, Prabhudas Lilladher maintains a 'BUY' rating for Crompton Greaves, with a target price of Rs 536 based on a valuation of 40 times FY27 earnings.

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