Crompton Greaves Consumer Electricals Limited Announces Quarter Results
Posted on: 18/May/2020 3:00:52 PM
- Q4-FY20: Revenue at Rs 1,018 Cr, PAT at Rs 100 Cr
- FY20: Revenue at Rs 4,512 Cr, PAT at Rs 495 Cr
The Board of directors, at its meeting held on 15th May 2020 approved the results of the Company for the quarter and year ended 31st March 2020. Total Income for the quarter was Rs. 1,018 Crs. Growth remained strong across all products until the lockdown (Jan and Feb growth 14% Y-o-Y). Market share increased in Fans and Consumer Lighting. Appliances business continued to deliver strong double-digit growth based on excellent consumer offerings behind Coolers and Geysers.
PBT margin increased sequentially with strengthened cost reduction programs neutralizing the adverse volume impact due to COVID-19.
Given the uncertain economic outlook, the Board considered it prudent not to recommend any Dividend for FY20.
Commenting on the Quarter results, Company’s Managing Director, Shantanu Khosla said “We had strong growth momentum in January and February across all product categories. However, COVID-19 had a significant adverse impact on the Company’s performance for the quarter. Our robust cost reduction programs ensured we maintained our profitability even in these difficult times.
Our strong balance sheet ensures we are well-positioned to navigate the uncertain times ahead. The Company’s topmost priority is to ensure the safety and well being of all our employees and partners as we start-up operations after the period of lockdown. We remain focused on managing our cash and costs during this uncertain period.”
About Crompton:
Crompton 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, ranging from fans, lamps, and luminaries to pumps and household appliances such as water heaters, coolers, mixer grinders, and irons. The Company has a strong dealer base across the country and wide service network offering robust after-sales service to its customers.
