The stock of Crompton Greaves Consumer Electricals has shed about 12 per cent since the start of the month due to a muted near-term outlook. Demand slowdown across segments and pre-buying in cooling products in the June quarter are expected to weigh on revenues going ahead. In addition to pre-buying in the preceding quarter, demand conditions are soft on account of lower consumer spending due to inflationary conditions, weakness in rural demand and the fact that Q2 remains a soft quarter after a strong summer.
Crompton Greaves Ltd said on Wednesday it has acquired businesses of two Hungary-based companies for about euro35 million.
The transformer factory in Canada contributes about three per cent to the company's total sales.
Good results for the January-March quarter (Q4) of FY24 and strong seasonal demand have led to strong investor interest in Crompton Greaves (CG) Consumer Electricals which is hitting new highs. While there's bullish consensus on the company's future performance, the stock has gained over 40 per cent in the last six months and valuations may become stretched. The Q4FY24 revenue rose 9.5 per cent YoY to Rs 1,960 crore.
This time its international business is in the limelight.
A meeting of the board of directors of Crompton Greaves Ltd will be held on January 30 to consider and take on record the unaudited financial results for the quarter ended December 31, 2002.\n\n
SM Trehan, MD of Crompton Greaves says topline growth was driven by growth in power systems, consumer products and industrial systems.
It reported a loss of Rs 36 crore (Rs 360 million), the first such negative result in 10 years.
The Greaves Ltd's board has decided to divest its 23.67 per cent stake in Crompton Greaves Ltd to B M Thapar Group.
Retail investors now own a larger share of smallcap companies than they did a year ago, thanks to their conviction in mutual fund (MF) schemes focused on this segment. Data from Capitaline shows that MFs' average holding in the National Stock Exchange Nifty Smallcap 250 Index stood at 9 per cent at the end of the October-December quarter of 2023-24 (FY24), up from 7.76 per cent in the same quarter of 2022-23.
Home appliance maker Crompton Greaves Consumer Electricals reported better than expected performance in the second quarter (Q2) of 2024-25 (FY25), outperforming peers due to a strong showing in the electrical consumer durables (ECD) segment. The company's standalone sales rose by 10.5 per cent, while the ECD segment continued its growth momentum with a 12.5 per cent increase in revenues, driven by volume and pricing gains.
The index is currently trading at 149 per cent of its historical P/B valuation, surpassing its previous peak of 125 per cent made in 2020-21.
The rally in the equity markets in the second half of 2023 has led to a sharp surge in the cutoff for stocks to qualify as largecaps and midcaps. On the latest list put out by the Association of Mutual Funds in India (Amfi), the smallest largecap stock now has a market capitalisation (m-cap) of Rs 67,000 crore, 35 per cent higher than in July 2023. In the case of midcaps, the cutoff has surged 26 per cent to Rs 22,000 crore.
Electrical equipment maker Crompton Greaves today said it will acquire Ireland-based Microsol Holdings Ltd for an enterprise value of around euro10.50 million (over Rs 57 crore).
'Focus on 19,400/64,900 as the key resistance levels for the Nifty/Sensex.'
Unseasonal rains watered down the performance of consumer durables companies as temperatures cooled, impacting the sales of refrigerators and air conditioners (ACs) in the 2023-24 (FY24) April-June quarter. Centrum says in its report on the sector that the trade channel indicates a 25-30 per cent year-on-year (YoY) decline in sales of refrigerators and ACs in April and May due to restricted buying. "While some green shoots in demand were visible in June, overall growth for the quarter is likely to remain at a negative 10-12 per cent," observes the brokerage.
It's all eyes on the consumer durables sector during the festival season after a weak Q1FY24 and Q2FY24 was impacted by an erratic monsoon. Traditionally, this period sees the highest number of purchases. Dealers and manufacturers are complaining about low business-to-consumer (B2C) off-take during the first half.
With sales of cooling products turning out dismal this summer due to unseasonal rains, the stocks of related companies are now off their March highs. Shares of fan and air conditioner makers such as Voltas, Symphony, Orient Electric, Johnson Controls-Hitachi Air Conditioning and Crompton Greaves are down 5-23 per cent since March when the summer season saw a firm onset. In comparison, the BSE Sensex index is up 10 per cent.
While the Budget might have been a sentiment booster for the sector, firms with market dominance emerge as favourites.
J G Kulkarni, executive vice-president at Crompton Greaves and newly appointed president of the Indian Electrical & Electronics Manufacturers' Association speaks to Businsess Standard on the challenges and opportunities.
Investors and analysts also questioned an expensive aircraft acquisition in the March quarter and possible insider trading.
The idea is not to form a Bengali lobby group but simply to get to know each other better.
It may not be a war cry yet, but the voice is definitely getting shriller.
Mandeo Singh Pathania shot a gallant five under 65 in round four of the Crompton Greaves Open in Mumbai, on Saturday to climb the victory podium for the first time in his professional career.
Kolkata's Rafick Ali Mollah shot a sizzling seven under 63 in round two of the Crompton Greaves Open that catapulted him into the lead at the Bombay Presidency Golf Club course, in Mumbai, on Thursday.
While the focus was on fancied names Ashok Kumar, Manav Jaini and Mukesh Kumar, Delhi's Karanjit Singh Sandhu stole the show, shooting a whirlwind seven under 63 on day one of the Crompton Greaves Open in Mumbai to establish a three-stroke lead on top of the leader board.
Come up with a compelling idea; have a well thought out execution plan; and execute as planned and demonstrate success quickly, says Uma Ganesh, CEO, Kalzoom Tech.
Invest in quality companies that make profits, advises stock market expert and rediffGURU Samraat Jadhav.
Vijay Kumar of Lucknow raced ahead into the lead after returning a five under 65 in the third round of the Crompton Greaves Open at the Bombay Presidency Golf Club Course, in Mumbai, on Friday.
The average top executive monthly compensation is Rs 1 crore. The median employee salary is now Rs 820,000.
Judging by the actions of most companies, you wouldn't think they cared two hoots what shareholders thought or didn't think, says Shobhana Subramanian.
Suresh Menon, more popular on small screen, is known for his funny one-liners and dressing sense while taking an interview. He is seen on TV mostly with Sajid Khan, who now has ventured into direction. We spoke to the actor about himself and his movie Krazzy 4.
Reliance Industries, Grasim, and ITC were the top held stocks by mutual funds in terms of value in July.
Crompton Greaves will sell its stake in US-based Paxonet Communications to Conexant Systems for $1.5 million.
Ashok Kumar fired a four-under 66 to set a new tournament record on way to clinch the top prize of Rs 11.34 lakh.
The 25-year-old Delhi-based golfer led the field in the Rs 70-lakh Crompton Greaves Golf Open, the richest prize-money tournament in India.
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