Crompton Greaves Consumer Q4 PAT climbs 144% to Rs 249 cr

On a consolidated basis, Crompton Greaves Consumer Electricals' net profit surged 144% to Rs 249.08 crore on 48.3% jump in net sales to Rs 1522.05 crore in Q4 March 2021 over Q4 March 2020.

Current year PAT also includes impact of IT Assessment order (including interest thereon) for previous years. Like for like PAT growth is at 63.5%.

Profit before tax (PBT) grew 68.9% to Rs 230.98 crore in Q4 FY21 as against Rs 136.72 crore in Q4 FY20. EBITDA soared 61.5% to Rs 228 crore in Q4 March 2021 as against Rs 141 crore in Q4 March 2020. EBITDA margin improved to 15% in Q4 FY21 compared with 13.8% in Q4 FY20.

Among segments, revenues from electrical consumer durables galloped 61% to Rs 1,193 crore during the quarter over Q4 FY20. Revenues from lighting products spurted 15% to Rs 329 crore in Q4 March 2021 over Q4 March 2020.

The growth remained strong across all product segments and channels. The fans business continued to grow market share while appliances business registered industry leading growth driven by strong performance in water heaters, air coolers and kitchen appliances, the company said.

The firm said that commodity costs have been escalating sharply since November and continued the trend through-out in Q4. The company has taken multiple actions to partly mitigate the impact of cost increase.

Meanwhile, the board has declared a final dividend of Rs 2.50 per share for FY 2020-21. The firm said that its cash conversion continues to be strong aided by efficient working capital management.

Commenting on the Q4 quarter results, Shantanu Khosla, the managing director (MD) of Crompton Greaves Consumer Electricals, said: "ECD segment continued its strong performance, registering robust growth across categories and geographies. B2C LED lighting business continued its improving growth trend. Lighting B2B activity continued to be challenged due to slow order pick up from institutional and government entities. Alternate channels viz. E-com, MOR and Rural increased their contribution to the overall business. Despite soaring commodity costs, we have maintained our profitability."

Shares of Crompton Greaves Consumer Electricals rose 1.38% to end at Rs 388.80 on Friday.

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