The revenue growth was led by electronic consumer durables (ECD) segment along with consistent improvement in the lighting business.
Profit before tax was at Rs 164.59 crore in the second quarter of FY25, up 28.90% as against Rs 127.68 crore posted in Q2 FY24.
EBITDA stood at Rs 180 crore in Q2 FY25, recording a growth of 20% as compared with Rs 151 crore registered in Q2 FY24. EBITDA margin reduced to 11% in Q2 FY25 as against 10.2% recorded in Q2 FY24.
On segmental front, the ECD business has reported a 13% YoY revenue growth to Rs 1,393 crore and 14.8% EBIT margin in Q2. The company saw positive performance in non-ceiling fans along with smooth transition to BIS norm. Pumps grew 20% YoY driven by residential and solar business. During the quarter, mixer grinders experienced strong growth led by robust performance in e-commerce and modern trade channels, along with increased contribution from new product sales across wattages.
Lighting segment performance continues to improve with revenue growth rate gaining momentum at 6% YoY to Rs 253 crore in Q2 FY25, amidst strong delivery in B2C segment. Portfolio premiumization coupled with extension into outdoor and accessory products drives revenue growth.
Revenue from Butterfly Gandhimathi Appliances stood at Rs 258 crore, down 16% YoY and up 42% QoQ. The company said that strong sequential growth of 42% across categories and channels led by ongoing festive season and EBITDA margin expanded by 380 bps QoQ to 8.9% in Q2 led by channel management.
On consolidated basis, the company’s net profit jumped 27% to Rs 128 crore on 6% increase in revenue from operations to Rs 1,896 crore in Q2 FY25 over Q2 FY24.
Promeet Ghosh, MD & CEO, said, “We continue to deliver strong results across categories led by the Crompton 2.0 strategy. With pumps and appliances businesses delivering robust growth, ECD segment is developing new growth engines. Efforts in the lighting business are paying off as revenue growth has picked up pace this quarter with consistent margin improvement over the last few quarters.
Our focus continues to be on investments in brand spends and innovation. As we drive our sustainability practices, we were honoured by CII with the prestigious GREEN PRO certification in consumer products category for ceiling fans, an industry first in the fans category.”
Crompton Greaves Consumer Electricals 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 scrip slipped 3.62% to end at Rs 371.20 on Thursday, 14 November 2024. The domestic stock market to remain closed today on account of Guru Nanak Jayanti.