At the current price, the stock is trading at 28.4 times its FY24 earnings estimates
The June quarter results of Crompton Greaves Consumer fell short of street estimates. Revenues for the company, which makes home and kitchen appliances, were broadly in line with analyst estimates, but the operational performance was disappointing.
Despite the Q1 miss most brokerages are bullish on the stock, given its entry into the premium kitchen appliance segment, market share gains in core categories of fans, pumps and LED lights. It has expanded its presence by acquiring Butterfly Gandhimathi Appliances.
The near-term trigger for the stock, which has remained flat since its results, would be demand trends, raw material prices and margin trajectory. The operating profit margin in Q1 came in at 11.8 cent, down 300 basis points on a sequential basis
First Published: Jul 27 2022 | 11:51 AM IST