Crompton Greaves Consumer Electricals Limited Results for Quarter Ended March 2019.

Q4FY19: Revenue growth of 7%, PAT growth of 37%

FY19: Revenue growth of 11%, PAT growth of 24% 

Mumbai, May 23, 2019: The Board of directors, at its meeting held on 21st May 2019 approved the results of the Company for the quarter and year ended 31stMarch 2019. Total Income for the quarter was Rs. 1,206.9 Crs, a growth of 7.2% year on year (y-o-y). Electrical Consumer Durables segment grew by ~10%, driven by strong performance in Fans, Pumps and Coolers. Total income for the year was Rs. 4,478.9 Crs, a growth of 11.1% (GST adjusted).

Profit After Tax for Q4FY19 was at Rs 141.7 Crs, up by 37.3%. Based on an assessment order received during the year ended 31st March 2019, the Company has written-back an amount of Rs 28.45 crore in respect of an earlier assessment year, and the same is netted-off from current tax expense for the quarter and year ended 31st March 2019. Like to like profit growth without this adjustment is ~8%. Profit after Tax for the full year FY19 was at Rs. 402.5Crs, up by 24.3% (like to like ~15%).

Profit after tax at a consolidated level for Q4FY19 was at Rs. 140.5Crs and FY19 was at Rs. 401.4Crs.

Board of directors recommended a dividend of Rs. 2/share.

Commenting on the Quarter results, Company’s Managing Director Shantanu Khosla said “ECD segment has shown good results and our ongoing efforts in driving innovation with the introduction of ‘Aura Fluidic’ and ‘Air Buddy’ have helped continue the momentum. In Lighting, the introduction of ‘Anti-Bac’ has met with very good response and the core LED segment continues to post healthy volume growth. Our accelerated focus on cost has delivered double digit EBIT margins in Lighting, in line with our objectives.”

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, mixer grinders, coolers and irons. The Company has strong dealer base across the country and wide service network offering robust after sales service to its customers.