Crompton Greaves Consumer Electricals (CROMPTON) Q4 18/19 earnings summary

Executive summary

• FY19 comparable revenue grew 11.1% to ₹4,478.91 crore; standalone PAT rose 24.3% to ₹402.52 crore, including a ₹28.45 crore prior-year tax write-back.

• ECD delivered 15.9% comparable revenue growth; core LED lighting excluding EESL sales grew 13% in value despite continued price erosion.

• Priorities remain sales growth ahead of market, profit growth at least in line with sales, and conversion of profits into cash.

Financial highlights

• Standalone revenue from operations was ₹4,478.91 crore vs ₹4,105.12 crore; total income was ₹4,527.17 crore vs ₹4,135.87 crore.

• Standalone PBT reached ₹561.56 crore, up 15.7%; PAT was ₹402.52 crore vs ₹323.79 crore, up 24.3%.

• Basic EPS rose to ₹6.42 from ₹5.17; diluted EPS was ₹6.38 vs ₹5.15.

• Operating cash flow was ₹301.43 crore vs ₹315.41 crore; cash and equivalents ended FY19 at ₹116.34 crore vs ₹172.49 crore.

Outlook and guidance

• FY20 focus: grow revenue faster than market, profits at least in line with sales, and convert all profits into cash.

• Growth expected to remain robust across key segments, supported by product innovation and stronger go-to-market execution across more geographies.

• Plans include higher investment in manufacturing capability and brand; energy efficiency, consumer value and usability are key product themes.

• Adjacent-category opportunities are being explored through organic and inorganic routes.