Crompton Greaves Consumer Electricals (CROMPTON) Q1 24/25 earnings summary

Executive summary

• Achieved highest-ever standalone quarterly revenue of INR 1,959 crore, up 18% YoY, led by 21% growth in ECD and robust EBIT margin expansion.

• Consolidated revenue reached INR 2,138 crore, up 14% YoY, with consolidated PAT up 25% to INR 152 crore.

• Butterfly subsidiary saw 9% sequential revenue growth but a 17% YoY decline, with EBITDA margin improving to 5.1% due to cost initiatives.

• Lighting segment revenue grew 2% YoY, with B2B lighting and premium ceiling lights showing double-digit growth, while B2C faced price erosion.

• EBITDA margin expanded to 11.4% standalone and 10.9% consolidated, despite increased brand investments.

Financial highlights

• Standalone EBIT margin (excluding A&P spend) at 14.9%, up 1.6% YoY; standalone EBIT grew 34% YoY to INR 203 crore.

• Net profit rose 37% YoY to INR 158 crore; consolidated net profit up 25% YoY to INR 152 crore.

• Material margin improved to 31.3% standalone and 31.9% consolidated.

• E-commerce revenue exceeded INR 100 crore for the fourth consecutive quarter, up 82% YoY.

• A&P spends increased 29-30% YoY, now 4.5% of revenue.

Outlook and guidance

• Focus on premiumization, innovation, and digital enablement to drive future growth.

• Continued investment in brand, channel expansion, and e-commerce.

• Ongoing cost optimization and margin improvement initiatives.

• Monitoring commodity prices for potential further price increases.

• Butterfly turnaround is ongoing, with growth expected to accelerate from H2.