Earnings before interest, tax, depreciation, and amortisation (EBITDA) fell 22.6% to ₹158 crore in the quarter, against ₹204.1 crore a year ago, due to commodity inflation, pricing pressures, continued advertising and promotional investments, and higher operating expenses to support transformation initiatives.
Also Read: Crompton Greaves wins ₹445 crore order to set up 2 KW solar rooftop system in Andhra PradeshThe company’s EBITDA margin stood at 8.2%, compared with 10.7% in the corresponding quarter of the previous year. The company incurred a restructuring cost of ₹20.36 crore at its Baroda facility, repurposing operations from one product line to four.
The company’s Butterfly Gandhimathi Appliances unit reported industry-leading revenue growth of 14% year-on-year to ₹293 crore, supported by double-digit growth across core categories and sustained volume expansion. Butterfly’s EBITDA grew 21% year-on-year, driven by improved gross margins.
The Electrical Consumer Durables (ECD) segment reported revenue of ₹1,371 crore, down 1.5% year-on-year, largely due to adverse weather conditions. Within ECD, pumps and small domestic appliances (SDA) delivered strong performance, while fans and large domestic appliances (LDA) remained subdued.
Also Read: Crompton Greaves Q1 profit drops 19.4% on weak consumer demandPumps recorded strong growth driven by solar pump demand, with a robust order pipeline, while SDA continued to grow, supported by new launches and festive campaigns.
The lighting segment delivered stable performance, with revenue at ₹261 crore, up 3.1% year-on-year. The segment saw robust volume growth in the high teens despite industry-wide price erosion. B2C growth was led by ceiling lights and street/flood segments, while B2B business continued to expand with key project wins across major accounts.
Crompton Greaves also made a strong debut in the solar rooftop segment, securing aggregate orders worth about ₹500 crore to serve nearly 50,000 consumer households, to be executed in the near term.
Promeet Ghosh, MD and CEO of CGCEL, “Despite a challenging environment, our well-diversified product portfolio remained resilient with strong momentum in pumps, small domestic and kitchen appliances. We believe GST 2.0 will act as a structural catalyst to consumption, with benefits percolating to the durables segment in a phased manner.
Also Read: Crompton Greaves wins ₹101 crore solar pumping system order from MEDA
During the current quarter, the solar rooftop business secured its 1st ever order of ₹52 crore, followed by the largest-ever order of ₹445 crore, cumulating to a total of ₹500 crore and 50,000 units. These orders are expected to provide a significant fillip to our direct-to-consumer business and mark the beginning of a new growth engine, backed by the company’s proven excellence in execution and a robust supply chain network.”
Shares of Crompton Greaves Consumer Electricals Ltd ended at ₹278.45, down by ₹4.90, or 1.73%, on the BSE.
