Shares of Crompton jumped 16% in Friday’s session to its fresh 52-week high of Rs 394 on reporting its highest-ever quarterly standalone revenue at Rs 1,797 crore.
Crompton has also posted a net profit increase of 22% YoY at Rs 160.97 crore and the EBIT margin stood at 9.8%. The company has crossed the milestone of selling 2 cr+ fans in the financial year.
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Here’s what analysts have to say on the Q4 performance of the stock:
Kotak Institutional Equities
“Crompton’s 4QFY24 results featured better-than-expected margins from the ECD segment amid seasonal strength, but a large loss at Butterfly including one-time impacts. The near-term outlook is positive as summer demand remains robust. We raise FY2025-26E EPS by 7-8%, primarily on higher margins at ECD,” said Kotak Equities’ report.
KIE has raised the target price of the stock to Rs 350 with an ‘add’ rating.
Nuvama
Nuvama stated that the electronic consumer durable segment is faring well with B2B lighting remaining robust. The focus is on improving Butterfly performance, which is likely to recover Q2FY25 onwards. The brokerage has increased the FY26–26E by 3–9%.
Nuvama has a ‘buy’ rating on the stock with a target price of Rs 393.
Crompton Greaves is India’s market leader in fans, no. 1 player in residential pumps and has leading market positions in its other product categories. The Company manufactures and markets a wide spectrum of consumer products – fans, lights, pumps and appliances including kitchen appliances.
Crompton in its filing, stated that it has been ranked 7th globally in the Dow Jones Sustainability Indices.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
