Titan Company Limited
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Consumer Cyclical · Luxury Goods
₹4,299.70 last close on 23 Oct 2026 −1.16%
Research updated
Crompton Greaves Consumer Electricals Ltd.
NSE: CROMPTONConsumer CyclicalFurnishings, Fixtures & Appliances
- Last close
- ₹195.18
- Day change
- −₹6.23 (−3.09%)vs
- Market cap
- ₹13,880 crIndian rupees
- Research updated
- 2 reports
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About Crompton Greaves Consumer Electricals
Crompton Greaves Consumer Electricals Ltd. is a prominent Indian company specializing in the design, manufacturing, and distribution of electrical consumer products. Known for its extensive range of fans, light sources, and home appliances, Crompton serves both residential and commercial sectors, providing reliable and energy-efficient solutions. Its product line includes energy-saving ceiling fans, decorative lighting, and essential kitchen appliances, catering to the evolving needs of modern households. The company emphasizes innovation and sustainability, seeking to enhance user experiences through advanced technology and eco-friendly designs. As a key player in the Indian consumer electricals market, Crompton's comprehensive distribution network extends across retail outlets and e-commerce platforms, ensuring robust market presence. Crompton's legacy of quality and dependability positions it as a vital contributor to the electrical goods sector, influencing trends and standards in home efficiency and comfort solutions.
- Sector
- Consumer Cyclical
- Industry
- Furnishings, Fixtures & Appliances
- Listing
- NSE: CROMPTON
- Chief executive
- Mr. Promeet Promode Ghosh
- Employees
- 2,211
- Headquarters
- Mumbai, India
- ISIN
- INE299U01018
- Website
- crompton.co.in
Public research · Report of
Business model & financial foundation
Crompton (NSE: CROMPTON), Consumer electricals: fans, pumps, lighting, appliances and kitchen appliances: revenue of ₹8,096 crore in FY26 (+2.9% on FY25), an EBITDA margin of 10.2%, net profit of ₹-242.2 crore and net cash of ₹1,155 crore.
- Revenue, FY26 (₹ crore)
- 8,096
- consolidated
- Revenue growth, FY26
- +2.9%
- on FY25
- EBITDA margin, FY26
- 10.2%
- EBITDA (Operating EBITDA before other income and exceptions) / revenue
- Net profit, FY26 (₹ crore)
- -242.2
- to owners
- Return on equity, FY26
- -6.6%
- on average equity
- Net debt, FY26 (₹ crore)
- -1,155
- Net debt including current treasury investments
- Market capitalisation (₹ crore)
- 13,880
- at the close of 16 Oct 2026
Company profile
Crompton makes and sells fans, residential and agricultural pumps including solar pumps, lighting, water heaters and small appliances in India. It owns 75% of listed kitchen appliance maker Butterfly Gandhimathi. Revenue is reported in electrical consumer durables, lighting and Butterfly segments.
| Item | Value |
|---|---|
| Legal name | Crompton Greaves Consumer Electricals Limited |
| Exchange and ticker | NSE: CROMPTON; BSE: 539876 |
| ISIN | INE299U01018 |
| CIN | L31900MH2015PLC262254 |
| Sector | Consumer Durables |
| Industry | Consumer electricals: fans, pumps, lighting, appliances and kitchen appliances |
| Headquarters | Mumbai, India |
| Fiscal year end | March |
| Reporting basis and unit | consolidated, in ₹ crore |
| Auditor | M S K A & Associates LLP (since 2021) |
| Market capitalisation | ₹13,880 crore (16 Oct 2026) |
| Shares outstanding | 64.39 crore shares (FY26) |
| Price | ₹215.6 (close, 16 Oct 2026) |
| 52-week range | ₹201.1 - ₹310.5 (to 16 Oct 2026) |
| Website | https://www.crompton.co.in |
Corporate structure and shareholding
| Entity | Holding | Business |
|---|---|---|
| Butterfly Gandhimathi Appliances Limited | 75% | Listed kitchen and small appliances |
| Lighting subsidiaries (two wholly owned) | 100% | Lighting manufacturing and products |
| Crompton (CSR) Foundation | n.d. | Not-for-profit CSR subsidiary |
No identified promoter; widely held public shareholding.
| Shareholding (% of shares) | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Foreign institutions | 25.56% | 20.55% | 20.49% | 19.89% |
| Domestic institutions | 61.24% | 65.74% | 66.12% | 66.46% |
| of which mutual funds | 50.81% | 54.58% | 54.49% | 53.23% |
| Retail | 9.45% | 10.42% | 10.06% | 10.05% |
| Other | 3.75% | 3.29% | 3.33% | 3.60% |
The promoter holding pledged is a share of the promoter's own holding.
Business model
Crompton sells fans, residential/agricultural pumps, lighting and appliances through trade, alternate channels and institutional projects. Consolidated reporting includes 75% Butterfly; segment sales already eliminate internal transactions. ECD is the core earnings franchise. Solar expands the addressable business but turns installation and public-sector collection into increasingly important constraints. Butterfly standalone cannot be substituted into consolidated segment revenue.
| Segment | revenue, FY26 (₹ crore) | Share | ebit, FY26 (₹ crore) | Share |
|---|---|---|---|---|
| Electric Consumer Durables | 6,096 | 75.3% | 809.0 | 80.3% |
| Lighting Products | 1,085 | 13.4% | 141.9 | 14.1% |
| Butterfly (Butterfly Gandhimathi Appliances) | 915.0 | 11.3% | 56.8 | 5.6% |
Segments as the company reports them (consolidated); each share is of the segments' sum.
| Peer | Why the dossier compares them |
|---|---|
| Havells India (HAVELLS) | Largest diversified consumer electrical peer in fans, lighting and appliances |
| Orient Electric (ORIENTELEC) | Fan and lighting focused direct competitor |
| Bajaj Electricals (BAJAJELEC) | Fans, appliances and lighting competitor |
| V-Guard Industries (VGUARD) | Fans, pumps and electrical consumer durables |
| Polycab India (POLYCAB) | Fans, lighting and wires FMEG competitor |
| Symphony (SYMPHONY) | Seasonal cooling appliance peer |
Financial databook
| Profit and loss (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue from operations | 5,374 | 6,833 | 7,313 | 7,864 | 8,096 |
| Cost of revenue (vendor classification) * | 3,718 | 4,694 | 5,015 | 5,287 | 5,532 |
| Other operating costs (vendor classification) * | 527.1 | 840.5 | 969.9 | 989.6 | 1,020 |
| EBITDA (vendor classification) * | 811.1 | 829.2 | 762.9 | 949.9 | 349.1 |
| Operating EBIT before other income and exceptions | 786.7 | 721.1 | 584.9 | 748.4 | 655.5 |
| Finance costs including discounting charges | 35.2 | 109.0 | 79.2 | 60.5 | 44.0 |
| Profit/(loss) before tax | 751.5 | 612.2 | 573.1 | 756.2 | -79.3 |
| Total tax expense | 173.2 | 135.8 | 131.3 | 192.1 | 151.5 |
| Group profit/(loss) after tax before NCI | 578.4 | 476.4 | 441.8 | 564.1 | -230.8 |
| Diluted EPS attributable to owners (₹) | 9.17 | 7.27 | 6.88 | 8.64 | -3.76 |
| Materials, traded goods and inventory change | 5,000 | 5,273 | 5,515 | ||
| Employee benefits expense | 589.9 | 639.0 | 681.3 | ||
| Other expenses including advertising and promotion | 1,009 | 1,050 | 1,072 | ||
| Operating EBITDA before other income and exceptions | 713.7 | 901.2 | 827.4 | ||
| Other income | 67.4 | 68.3 | 65.6 | ||
| Depreciation and amortisation | 128.8 | 152.8 | 171.8 | ||
| Exceptional income/(expense), signed | 0.00 | 0.00 | -756.4 | ||
| Profit attributable to non-controlling interests | 1.86 | 8.13 | 11.4 | ||
| Share of associates/JV profit | 0.00 | 0.00 | 0.00 | ||
| Profit/(loss) attributable to owners | 439.9 | 556.0 | -242.2 |
| Balance sheet (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Total equity including NCI | 3,235 | 3,108 | 3,449 | 3,848 | 3,436 |
| Loans and NCD borrowings excluding leases | 1,686 | 1,005 | 599.0 | 299.8 | 0.00 |
| Cash and cash equivalents | 181.0 | 76.8 | 172.1 | 203.7 | 153.2 |
| Net current and non-current trade receivables | 593.6 | 670.6 | 733.5 | 713.0 | 1,086 |
| Inventories | 721.0 | 743.9 | 830.4 | 881.7 | 744.2 |
| Current and non-current trade payables | 1,010 | 1,035 | 1,328 | 1,412 | 1,870 |
| Net property, plant and equipment excluding ROU | 107.9 | 134.0 | 399.1 | 426.7 | 439.9 |
| Capital work-in-progress excluding intangible development | 13.0 | 5.46 | 11.4 | 14.2 | 8.75 |
| Total assets | 6,449 | 5,654 | 6,082 | 6,346 | 6,083 |
| Equity attributable to parent owners | 3,000 | 3,390 | 2,966 | ||
| Current and non-current lease liabilities | 84.2 | 178.8 | 199.2 | ||
| Bank balances other than cash equivalents | 88.7 | 149.4 | 30.8 | ||
| Quoted current bonds and mutual funds | 689.1 | 721.1 | 971.0 | ||
| Net debt including current treasury investments | -350.9 | -774.4 | -1,155 | ||
| Goodwill | 1,285 | 1,285 | 779.4 | ||
| Other intangible assets | 1,436 | 1,418 | 1,156 |
| Cash flow (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Net cash generated from operating activities after tax | 835.1 | 560.6 | 843.4 | 749.9 | 723.5 |
| Free cash flow (vendor definition) * | 565.2 | 473.5 | 759.6 | 640.4 | 640.0 |
| Cash dividends paid, positive outflow | -156.4 | -157.8 | 191.2 | 193.0 | 193.2 |
| PPE and intangible purchase cash outflow, positive | -170.6 | -70.8 | 83.8 | 109.5 | 83.5 |
| CFO less cash capex | 759.6 | 640.4 | 640.0 |
| Other reported lines (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Period-end issued equity shares | 62.82 | 63.50 | 64.31 | 64.38 | 64.39 |
| materials ratio (fraction) | 0.68 | 0.67 | 0.68 | ||
| employee ratio (fraction) | 0.08 | 0.08 | 0.08 | ||
| other cost ratio (fraction) | 0.14 | 0.13 | 0.13 | ||
| diluted shares inferred | 63.94 | 64.35 | 64.41 | ||
| receivable days | 37 | 33 | 49 | ||
| inventory days | 61 | 61 | 49 | ||
| payable days | 97 | 98 | 124 | ||
| Revenue growth YoY (%) | 7.5% | 2.9% | |||
| Receivables growth YoY (%) | -2.8% | 52.3% | |||
| Three-year CFO / reported group PAT (x) | 2.99x | ||||
| Three-year CFO / pre-exceptional group profit | 1.51x | ||||
| Contingent liabilities / group equity (%) | 14.7% |
| Quarterly profit and loss (₹ crore) | Q2FY25 | Q3FY25 | Q4FY25 | Q1FY26 | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,896 | 1,769 | 2,061 | 1,998 | 1,916 | 1,898 | 2,283 | 2,235 |
| COGS (materials + purchases of stock-in-trade + inventory change) | 1,276 | 1,181 | 1,359 | 1,356 | 1,311 | 1,287 | 1,562 | 1,537 |
| Employee benefits expense | 159.7 | 149.7 | 167.9 | 169.8 | 165.3 | 170.0 | 176.2 | 186.9 |
| Other expenses (incl. A&P) | 257.2 | 248.1 | 266.7 | 276.4 | 274.9 | 245.9 | 274.4 | 286.7 |
| EBITDA (revenue less COGS, employee, other expenses; excl. other income) | 203.6 | 190.5 | 267.5 | 196.5 | 164.8 | 195.3 | 270.7 | 224.5 |
| Other income | 17.4 | 11.5 | 15.8 | 23.7 | 13.4 | 12.8 | 15.8 | 21.8 |
| Depreciation and amortisation | 38.2 | 37.9 | 39.6 | 39.5 | 44.0 | 43.6 | 44.7 | 45.2 |
| Finance costs | 12.0 | 12.8 | 12.8 | 14.6 | 11.6 | 8.39 | 9.40 | 9.70 |
| Exceptional items (negative = charge) | 0.00 | 0.00 | 0.00 | 0.00 | -20.4 | -20.0 | -716.0 | 0.00 |
| Profit before tax | 170.7 | 151.2 | 230.8 | 166.1 | 102.2 | 136.0 | -483.6 | 191.3 |
| Total tax expense | 42.7 | 39.3 | 59.1 | 42.2 | 26.8 | 35.0 | 47.5 | 48.6 |
| Profit after tax (group incl. NCI) | 128.1 | 111.9 | 171.7 | 123.9 | 75.4 | 101.0 | -531.1 | 142.7 |
| Non-controlling interest share of profit | 3.17 | 2.08 | 2.25 | 1.61 | 4.25 | 2.69 | 2.86 | 2.22 |
| Share of profit of associates/JVs | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
| Profit attributable to owners of parent | 124.9 | 109.8 | 169.5 | 122.3 | 71.2 | 98.3 | -533.9 | 140.5 |
| Diluted EPS, not annualised (₹) | 1.94 | 1.71 | 2.63 | 1.90 | 1.11 | 1.53 | -8.29 | 2.18 |
| Cost of revenue (vendor classification) * | 1,276 | 1,181 | 1,360 | 1,356 | 1,287 | 1,562 | 1,537 | |
| Other operating costs (vendor classification) * | 257.2 | 248.1 | 265.5 | 276.2 | 245.7 | 274.4 | 286.7 | |
| EBITDA (vendor classification) * | 220.9 | 201.9 | 283.2 | 220.2 | 208.1 | 286.5 | 246.2 | |
| EBIT * | 182.8 | 164.0 | 243.6 | 180.7 | 144.4 | -474.2 | 201.0 |
Consolidated, as reported. Lines marked * are the market-data provider's figures; the rest are extracted from the company's filings or derived from them. n.d. not disclosed, n.r. not retrieved, n.a. not applicable.
Metrics dashboard
| Metric | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue growth | 12.1% | 27.1% | 7.0% | 7.5% | 2.9% |
| EBITDA margin | 9.8% | 11.5% | 10.2% | ||
| Net margin | 6.0% | 7.1% | -3.0% | ||
| Return on equity | 13.4% | 15.2% | -6.6% | ||
| Return on capital employed | 21.3% | 16.0% | 14.3% | 18.3% | 17.3% |
| Return on assets | 7.5% | 8.9% | -3.9% | ||
| Net debt (₹ crore) | -350.9 | -774.4 | -1,155 | ||
| Net debt / EBITDA | -0.49x | -0.86x | -1.40x | ||
| Interest cover | 22.4x | 6.62x | 7.39x | 12.4x | 14.9x |
| Asset turnover | 1.07x | 1.13x | 1.25x | 1.27x | 1.30x |
| Receivable days | 40 | 36 | 37 | 33 | 49 |
| Inventory days (on revenue) | 49 | 40 | 41 | 41 | 34 |
| Payable days (on revenue) | 69 | 55 | 66 | 66 | 84 |
| Cash conversion | 1.92x | 1.35x | -2.99x | ||
| Capex intensity | 3.2% | 1.0% | 1.1% | 1.4% | 1.0% |
| Free cash flow (₹ crore) | 664.5 | 489.8 | 759.6 | 640.4 | 640.0 |
| Dividend payout | 43.5% | 34.7% | -79.8% | ||
| EPS, diluted (₹) | 9.17 | 7.27 | 6.88 | 8.64 | -3.76 |
| Book value per share (₹) | 51.50 | 48.94 | 53.63 | 59.77 | 53.36 |
Computed from the statements above:
- Revenue growth: revenue over the previous year's, less one.
- EBITDA margin: EBITDA (Operating EBITDA before other income and exceptions) / revenue.
- Net margin: net profit to owners / revenue.
- Return on equity: net profit to owners / average equity.
- Return on capital employed: EBIT / average equity plus borrowings.
- Return on assets: net profit to owners / average total assets.
- Net debt (₹ crore): Net debt including current treasury investments; negative is net cash.
- Net debt / EBITDA: net debt / EBITDA (Operating EBITDA before other income and exceptions).
- Interest cover: EBIT / finance cost.
- Asset turnover: revenue / average total assets.
- Receivable days: receivables / revenue x 365.
- Inventory days (on revenue): inventory / revenue x 365.
- Payable days (on revenue): payables / revenue x 365.
- Cash conversion: cash from operations / net profit to owners.
- Capex intensity: capital expenditure / revenue.
- Free cash flow (₹ crore): cash from operations less capital expenditure.
- Dividend payout: dividends paid / net profit to owners.
- EPS, diluted (₹): as reported (Diluted EPS attributable to owners).
- Book value per share (₹): equity / shares outstanding.
Source: the company's filings and disclosures as extracted into Mool's company dossier (version 2, information to 16 Oct 2026); market data at the close of 16 Oct 2026. Every figure is read from the dossier's files or computed from them; the account of the business model is the analyst's, from the dossier's workings.
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Report history
Reports on Crompton Greaves Consumer Electricals
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Prices are the last close on the NSE, 23 Oct 2026. Research from Mool’s report of 16 Oct 2026; page updated 25 Oct 2026.
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