Crompton Greaves Consumer Electricals (CROMPTON) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 revenue was ₹2,263.29 crore, up 18.2% YoY; EBITDA rose 24.1% to ₹205 crore and EBIT grew 31.7% to ₹159 crore.

• Double-digit revenue growth continued for a third consecutive quarter, with all three segments growing at double-digit rates.

• H1 FY27 revenue reached ₹4,498.31 crore, up 14.9% YoY; annualized H1 ROCE was 24.1%, including intangibles.

Financial highlights

• Q2 consolidated PBT was ₹166.93 crore versus ₹122.56 crore YoY; net profit was ₹124.39 crore versus ₹75.42 crore, up 64.9%.

• Q2 EBITDA margin expanded 40 bps to 9.0%; EBIT margin rose 70 bps to 7.0%, and PBT margin increased 210 bps to 7.4%.

• Net profit excluding exceptional items grew 37.3% to ₹124 crore; Q2 FY26 included a ₹20 crore exceptional charge for Baroda plant restructuring.

• H1 EBITDA was ₹429 crore, up 18.7%; EBIT was ₹338 crore, up 21.8%; net profit excluding exceptional items was ₹263 crore, up 22.5%.

• Material margin was 29.8% versus 31.6% YoY as commodity inflation was partly offset by pricing interventions.

Outlook and guidance

• FY29 ambition includes revenue growth of ~13–14% CAGR and an 11–12% exit EBITDA margin; medium-term guidance remains on track.

• FY29 targets include smart and connected products at ~15% of mix versus ~14% currently, and new businesses at ~14–15% versus ~10%.

• Annual capex run rate of ~₹120 crore, excluding greenfield capex, and a ~35% cash payout ratio are on track.

• ~80% of cost increases had been passed through; further pricing actions and Unnati savings are intended to address remaining cost pressure.

• Solar rooftop order execution is expected to finish largely in Q3, with some spillover; B2C and C&I growth is expected to build as rollout expands.