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Results
17-Aug-24
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Analysis
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Crompton Greaves Consumer Electricals
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Sales up 14%, net up 28%
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Consolidated net sales (including other operating income) of Crompton Greaves Consumer Electricals for the quarter ended Jun 2024 has increased 13.90% to Rs 2137.69 crore. Operating profit margin has jumped from 9.90% to 10.87%, leading to 25.08% rise in operating profit to Rs 232.37 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 26.99% to 21.97%. Purchase of finished goods cost rose from 43.03% to 46.03%. Employee cost increased from 7.43% to 7.59%. Other expenses rose from 12.93% to 13.50%. Other income rose 20.10% to Rs 23.78 crore. PBIDT rose 24.60% to Rs 256.15 crore. Provision for interest fell 24.55% to Rs 15.52 crore. PBDT rose 30.07% to Rs 240.63 crore. Provision for depreciation rose 27.31% to Rs 37.15 crore. Profit before tax grew 30.59% to Rs 203.48 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 51.13 crore, compared to Rs 33.79 crore. Effective tax rate was 25.13% compared to 21.69%. Minority interest decreased 82.88% to Rs 0.63 crore. Net profit attributable to owners of the company increased 28.20% to Rs 151.72 crore. - Sales of electric consumer durables segment has gone up 20.83% to Rs 1,726.62 crore (accounting for 80.77% of total sales). Sales of lighting products segment has gone up 1.90% to Rs 233.33 crore (accounting for 10.92% of total sales). Sales of Butterfly Gandhimathi Appliances Limited segment fell 18.80% to Rs 177.74 crore (accounting for 8.31% of total sales).
- Profit before interest, tax and other unallocable items (PBIT) has jumped 26.11% to Rs 283.61 crore. PBIT of electric consumer durables segment rose 42.40% to Rs 258.66 crore (accounting for 91.20% of total PBIT). PBIT of lighting products segment fell 23.60% to Rs 20.85 crore (accounting for 7.35% of total PBIT). PBIT of Butterfly Gandhimathi Appliances Limited segment fell 74.31% to Rs 4.10 crore (accounting for 1.45% of total PBIT).
- PBIT margin of electric consumer durables segment rose from 12.71% to 14.98%. PBIT margin of lighting products segment fell from 11.92% to 8.94%. PBIT margin of Butterfly Gandhimathi Appliances Limited segment fell from 7.29% to 2.31%. Overall PBIT margin rose from 11.98% to 13.27%.
Crompton Greaves Consumer Electricals : Consolidated Results | | Quarter ended | Year ended |
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Particulars | 202406 | 202306 | Var.(%) | 202403 | 202303 | Var.(%) |
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Net Sales (including other operating income) | 2,137.69 | 1,876.85 | 13.90 | 7,312.81 | 6,869.61 | 6.45 | OPM (%) | 10.87 | 9.90 | 97 bps | 9.76 | 11.22 | -146 bps | OP | 232.37 | 185.77 | 25.08 | 713.69 | 770.47 | -7.37 | Other Inc. | 23.78 | 19.80 | 20.10 | 67.39 | 66.78 | 0.91 | PBIDT | 256.15 | 205.57 | 24.60 | 781.08 | 837.25 | -6.71 | Interest | 15.52 | 20.57 | -24.55 | 79.19 | 109.18 | -27.47 | PBDT | 240.63 | 185.00 | 30.07 | 701.89 | 728.07 | -3.60 | Depreciation | 37.15 | 29.18 | 27.31 | 128.82 | 115.92 | 11.13 | PBT | 203.48 | 155.82 | 30.59 | 573.07 | 612.15 | -6.38 | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | PBT before EO | 203.48 | 155.82 | 30.59 | 573.07 | 612.15 | -6.38 | EO Income | 0 | 0 | - | 0 | 0 | - | PBT after EO | 203.48 | 155.82 | 30.59 | 573.07 | 612.15 | -6.38 | Taxation | 51.13 | 33.79 | 51.32 | 131.29 | 135.75 | -3.29 | PAT | 152.35 | 122.03 | 24.85 | 441.78 | 476.4 | -7.27 | Minority Interest (MI) | 0.63 | 3.68 | -82.88 | 1.86 | 13.19 | -85.90 | Net profit | 151.72 | 118.35 | 28.20 | 439.92 | 463.21 | -5.03 | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | Net profit after discontinued operations | 151.72 | 118.35 | 28.20 | 439.92 | 463.21 | -5.03 | EPS (Rs)* | 2.36 | 1.84 | 28.20 | 6.84 | 7.20 | -5.03 | | * EPS is on current equity of Rs 128.67 crore, Face value of Rs 2, Excluding extraordinary items. | # EPS is not annualised | bps : Basis points | EO : Extraordinary items | Figures in Rs crore | Source: Capitaline Corporate Database |
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Crompton Greaves Consumer Electricals : Consolidated Segment Results | | Quarter ended | Year ended |
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| % of (Total) | 202406 | 202306 | Var.(%) | % of (Total) | 202403 | 202303 | Var.(%) |
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Sales | electric consumer durables | 80.77 | 1,726.62 | 1,428.98 | 20.83 | 73.74 | 5,392.18 | 4,755.66 | 13.38 | lighting products | 10.92 | 233.33 | 228.98 | 1.90 | 13.65 | 998.17 | 1,058.13 | -5.67 | Butterfly Gandhimathi Appliances Limited | 8.31 | 177.74 | 218.89 | -18.80 | 12.61 | 922.46 | 1,055.82 | -12.63 | Total Reported Sales | 100.00 | 2,137.69 | 1,876.85 | 13.90 | 100.00 | 7,312.81 | 6,869.61 | 6.45 | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | Net Sales | 100.00 | 2,137.69 | 1,876.85 | 13.90 | 100.00 | 7,312.81 | 6,869.61 | 6.45 | PBIT | electric consumer durables | 91.20 | 258.66 | 181.64 | 42.40 | 87.22 | 774.65 | 789.30 | -1.86 | lighting products | 7.35 | 20.85 | 27.29 | -23.60 | 11.86 | 105.32 | 100.52 | 4.78 | Butterfly Gandhimathi Appliances Limited | 1.45 | 4.10 | 15.96 | -74.31 | 0.92 | 8.19 | 83.97 | -90.25 | Total PBIT | 100.00 | 283.61 | 224.89 | 26.11 | 100.00 | 888.16 | 973.79 | -8.79 | Less : Interest | | 15.52 | 20.57 | -24.55 | | 79.19 | 109.18 | -27.47 | Add: Other un-allcoable | | -64.61 | -48.50 | -33.22 | | -235.90 | -252.46 | 6.56 | PBIT Margin(%) | electric consumer durables | | 14.98 | 12.71 | 226.95 | | 14.37 | 16.60 | -223.09 | lighting products | | 8.94 | 11.92 | -298.22 | | 10.55 | 9.50 | 105.15 | Butterfly Gandhimathi Appliances Limited | | 2.31 | 7.29 | -498.46 | | 0.89 | 7.95 | -706.52 | PBT | 100.00 | 203.48 | 155.82 | 30.59 | 100.00 | 573.07 | 612.15 | -6.38 |
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