NSE: CROMPTON · BSE: 539876
CROMPT GREA CON ELEC LTD
Sells household electrical appliances under the Crompton brand and the Butterfly Gandhimathi kitchen appliance brand, covering fans (including a fast-growing BLDC range), pumps, water heaters, kitchen and small domestic appliances, and recently added wires, solar pumps and solar rooftop systems. Lighting products for both consumer and B2B buyers complete the portfolio. In FY26, two segments made up revenue: Electric Consumer Durables at Rs 6,110.61 crore (84.9% of segment revenue, EBIT Rs 808.96 crore) and Lighting Products at Rs 1,082.62 crore (15.1%, EBIT Rs 141.44 crore). Q4 FY26 revenue was Rs 2,283 crore (up 11% year-on-year) with Q4 EBIT margin around 10%, an improvement from 6.8% in H1 FY26, following the BEE 2.0 regulatory transition in fans. Newer businesses are scaling — solar rooftop order book at about Rs 500 crore (with roughly 5,000 homes installed), solar pumps revenue that doubled from a Rs 200 crore base, wires under national rollout, and Butterfly reported as net cash positive at Rs 170 crore after its turnaround. The largest cost line is materials and components at 19.7% of revenue, followed by employees at 8.4% and other operating expenses at 13.2%, with capex at 1.0% of revenue. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Electric Consumer Durables (85%), Lighting Products (15%). Consumer durables — brand-driven, distribution-heavy, exposed to commodity input costs and BEE regulatory transitions.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 5,394 | 6,870 | 7,313 | 7,864 | 8,096 |
| EBITDA (ex other income) | 756 | 770 | 714 | 888 | 71 |
| margin % | 14.0 | 11.2 | 9.8 | 11.3 | 0.9 |
| Owners' profit | 578 | 463 | 440 | 556 | (242) |
| EPS, as reported (₹) | 9.21 | 7.29 | 6.88 | 8.64 | (3.76) |
| ROE % · ROCE % | 17.9 · 22.9 | 15.3 · 18.4 | 12.8 · 16.2 | 14.7 · 19.2 | (6.7) · (0.9) |
| Debt / equity (x) | 0.50 | 0.30 | 0.17 | 0.08 | 0.00 |
| Cash from operations | 723 | 553 | 843 | 737 | 723 |
| Capex | (171) | (79) | (84) | (110) | (83) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,896 | 1,769 | 2,061 | 1,998 | 1,916 | 1,898 | 2,283 | 2,235 |
| Profit before tax | 171 | 151 | 231 | 166 | 102 | 136 | (484) | 191 |
| Net profit | 128 | 112 | 172 | 124 | 75 | 101 | (531) | 143 |
| EPS (₹) | 1.94 | 1.71 | 2.63 | 1.90 | 1.11 | 1.53 | (8.29) | 2.18 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| (a) Electric Consumer Durables | 6,098 | 75.3 |
| (b) Lighting Products | 1,085 | 13.4 |
| (c) Butterfly Products | 913 | 11.3 |
| Total, before eliminations | 8,095 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| LG ELECTRONICS INDIA LTD | 1,14,787 | 62.9 | 14.97 | — | 22.0 | 27.2 | — | 13.8 |
| VOLTAS LTD | 33,490 | 74.6 | 5.23 | 39.3 | 5.8 | 9.9 | 13.8 | 7.6 |
| BLUE STAR LIMITED | 32,855 | 64.5 | 9.57 | 34.7 | 15.4 | 18.9 | 23.8 | 6.1 |
| AMBER ENTERPRISES (I) LTD | 21,873 | 227.3 | 3.77 | 23.6 | 3.9 | 5.3 | 32.1 | 6.1 |
| CROMPT GREA CON ELEC LTD ◆ | 13,161 | — | 3.83 | 95.3 | (6.7) | (2.1) | 11.0 | 11.0 |
| V-GUARD IND LTD. | 11,534 | 31.7 | 4.86 | 21.8 | 13.0 | 15.5 | 17.0 | 11.2 |
| WHIRLPOOL OF INDIA LTD | 10,555 | 42.1 | 2.54 | 15.3 | 7.1 | 8.1 | 6.4 | 7.6 |
| TTK PRESTIGE LTD | 7,280 | 37.7 | 3.69 | 23.1 | 7.9 | 10.2 | 6.3 | 13.0 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 3.8 | 4.4 | 10 of 23 | 55% |
| ROCE | (2.1) | 9.4 | 22 of 24 | 9% |
| ROE | (6.7) | 7.1 | 22 of 23 | 5% |
| Debt / Equity | 0.0 | 0.0 | 1 of 23 | 73% |
| EBITDA margin | 11.0 | 7.6 | 9 of 23 | 64% |
| Revenue growth | 11.8 | 15.4 | 17 of 22 | 24% |
| Profit growth | 15.2 | 38.1 | 13 of 21 | 40% |
| Market cap | 13161 | 3722 | 5 of 24 | 83% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Crompton launches 5.9 litre instant water heater range | business updates | low | — | — |
| 26 Oct 2026 · Crompton Greaves schedules investor meeting on October 29 | board shareholder meetings | low | — | — |
| 24 Oct 2026 · Q2 FY27 revenue up 18.2%, EBITDA margin expands to 9% | investor communications | medium | — | — |
| 23 Oct 2026 · Consumer commission orders require refunds for defective products | regulatory legal | medium | — | — |
| 23 Oct 2026 · Crompton launches Ameo Chop N Peel kitchen appliance | compliance | low | — | — |
| 23 Oct 2026 · Crompton Greaves updates officials responsible for disclosures | compliance | minimal | — | — |
| 19 Oct 2026 · Newspaper publication of Q2 FY27 unaudited financial results | compliance | minimal | — | — |
| 16 Oct 2026 · Crompton Q2 FY27 Earnings Call Recording Now Available on Website | investor communications | low | — | — |
| 16 Oct 2026 · Crompton Q2 FY27: Revenue up 18%, PAT jumps 65% YoY on broad-based growth | compliance | low | — | — |
| 16 Oct 2026 · Compliance Officer Yesha Gandani resigns from Crompton | management changes | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
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| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
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Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.