Investor Presentation on results for the quarter and year ended March 31, 2026
CROMPTON · price
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Crompton delivered strong Q4FY26 with 10.8% revenue growth YoY, driven by double-digit growth across all segments - ECD (16.7%), Lighting (14.3%), and Butterfly (16.8%). Consolidated EBIT margin improved sequentially to 9.9% from 8.0% in Q3, aided by calibrated price hikes and Unnati cost reduction initiatives. However, full-year performance was impacted by cost pressures with FY26 revenue up only 2.9% and EBITDA margin at 11.5% vs 11.5% in FY25. The company took a Rs. 716 crore impairment charge on its Butterfly acquisition in Q4. Standalone PAT (excluding exceptional items) was Rs. 171 crore in Q4. Successfully transitioned to BEE 2.0 norms without disruption and launched new products including Crompton Armor wires.
The sequential margin recovery and strong Q4 growth momentum are positive signals, though the Rs. 716 crore Butterfly impairment raises concerns about the acquisition's value. The stock may see mixed reaction - relief on operational recovery offset by worries over Butterfly write-down.