Crompton Greaves Consumer Electricals (CROMPTON) Q4 22/23 earnings summary

Executive summary

• FY23 consolidated revenue was ₹6,869.61 crore vs ₹5,394.11 crore; EBITDA was ₹770.47 crore vs ₹769.45 crore, while PAT fell to ₹476.40 crore from ₹578.38 crore.

• Inflation and price volatility subdued consumer demand and pressured industry profitability; responses included cost savings, selective pricing, premiumisation and faster product launches.

Financial highlights

• Consolidated total income was ₹6,936.39 crore, up 26.88% YoY from ₹5,466.76 crore; PBT was ₹612.15 crore vs ₹751.54 crore.

• Consolidated basic EPS was ₹7.29 vs ₹9.21; operating cash flow was ₹552.59 crore vs ₹736.35 crore.

• Consolidated cash and cash equivalents closed at ₹76.84 crore vs ₹171.62 crore.

Outlook and guidance

• Current-fiscal-year priorities include the highest brand-building spend to date, continued go-to-market investment, retail transformation and expanded digital, rural and e-commerce reach.

• Urbanisation, rural aspiration, housing and infrastructure activity, and preference for premium, smart and energy-efficient products support demand prospects.

• Built-in kitchen appliances launched in 10 city clusters, with plans to expand to 300 cities and target a top-three position in the segment within three years.