Crompton Greaves Consumer Electricals Ltd(CROMPTON)

NSE: CROMPTONBSE: 539876

₹ 194.6-0.43%refreshed 23 Oct, 03:52 pm ISTMarket cap: ₹ 12,531 crWebsite: www.crompton.co.inUpdated: 26 Oct 2026

About

Crompton Greaves Consumer Electricals Ltd is an Indian consumer electricals company selling fans, pumps, water heaters, lighting, and kitchen appliances under the Crompton and Butterfly brands. It is building new businesses in integrated solar solutions and wires and cables. In FY26 it reported consolidated revenue of Rs. 8,096 Cr across three segments: Electric Consumer Durables (75.3%), Lighting Products (13.4%), and Butterfly Products (11.3%). Crompton calls itself the world's No. 1 ceiling fan brand.^[1][2]

Business segments

Electric Consumer Durables (ECD): Rs. 6,095.9 Cr revenue, 75.3% of FY26 consolidated revenue; covers fans, pumps, water heaters and small domestic appliances. EBIT margin 13.3% in FY26.^[3]
Lighting Products: Rs. 1,084.6 Cr revenue, 13.4% of FY26 consolidated revenue; B2C and B2B lighting including panels, floodlights and battens. EBIT margin 13.1% in FY26.^[3]
Butterfly Products: Rs. 915.02 Cr revenue, 11.3% of FY26 consolidated revenue; kitchen appliances including mixer grinders, pressure cookers and gas stoves. EBIT margin 6.2% in FY26.^[3]
On a standalone basis in FY26, ECD made up 84.9% of revenue (Rs 6,110.61 Cr) and Lighting 15.1% (Rs 1,082.62 Cr).^[3][2]
Crompton holds a 75% stake in Butterfly Gandhimathi Appliances, a kitchen appliances maker that is strong in southern India (FY26).^[2]

Products and brands

The Crompton brand spans ceiling fans (including BLDC), pumps, water heaters, small domestic appliances, solar pumps, solar rooftop and residential wires (Crompton Armor, launched March 2026).^[1]
The BLDC ceiling fan range is built on the Nucleus platform (Niteo, Nucleoid), with launches including Grace, Elevate, Fluido and SilentPro. Five new BLDC fans were launched in Q1 FY27.^[1]
Crompton Rhion was launched as a new super-premium brand in FY26, and Large Kitchen Appliances were folded into it.^[2][1]
Butterfly launched the Idea First Series with 40+ new SKUs in FY26. The target is for the series to make up 30% of Butterfly sales by FY29.^[2][4]
Smart and connected products were ~14% of the mix in Q2 FY27, and new businesses were ~10%.^[5]
R&D investment was ₹32.64 Crore in FY26. The company allocates up to ₹100 Crore a year to platform-first innovation.^[2]

Operations and manufacturing

In Q2 FY26 the Baroda facility moved from a single lighting line to several product lines (BLDC PCB, appliances, lighting, solar rooftop, spares). The restructuring cost Rs. 20.36 Cr.^[6]
A greenfield ceiling fans factory is planned, described as the world's largest: land acquisition targeted for Q4 FY27, Phase 1 production for Q1 FY29 and Phase 2 for Q1 FY30.^[4]
Annual capex run rate is ~Rs. 120 Cr, excluding the greenfield facility, for both the FY29 and FY31 horizons.^[4]
Permanent employees, including permanent workers, numbered 2,211 in FY26.^[2]

Key operating numbers

Fans grew double-digit in Q2 FY27 for the first time after nine quarters, led by BLDC, Standard and TPW fans.^[5]
BLDC ceiling fan volumes grew ~44-45% YoY in Q1 FY27, the highest quarterly sales so far. BLDC fans grew 30%+ in Q4 FY26.^[4]
Non-solar pumps grew double-digit in Q2 FY27, with market share gains across sub-categories.^[5]
Consolidated material margin was 29.8% in Q2 FY27, down from 31.6%. A&P spend was ₹68 cr, down 16.8%.^[5]
Butterfly revenue was Rs 331 Cr in Q2 FY27, up 15.9% excluding sales to Crompton, with share gains in mixer grinders, glass cooktops and pressure cookers. Its EBIT margin was 7.4%, down 30 bps.^[5]
Lighting EBIT margin was 12.0% in Q1 FY27 (down 70 bps YoY because of pre-contracted B2B prices), vs a record 15.5% in Q2 FY26.^[4]
Alternate channels (e-commerce and modern trade) were 16% of revenue in Q1 FY27, up from 15% in Q3 FY26.^[4]

Customers and distribution

Coverage of top retail outlets rose from 41% in Q1 FY27 to 62% in Q2 FY27, and weighted distribution rose 240 bps.^[5]
Exports reached their highest quarter ever in Q2 FY27. General trade grew double-digit, led by South and West, while e-commerce was subdued.^[5]
The Retailer Parivaar digital platform served more than 50,000 retailers as of FY26.^[2]
Water heaters reached the clear #1 position by volume in General Trade in Q1 FY27, up from #2 in Q3 FY26. They were already #1 on e-commerce.^[4]
Crompton Armor residential wires were sold in 14 cities across Tamil Nadu and Karnataka as of Q1 FY27, with a national rollout planned.^[4]

Solar business and new ventures

The company secured a ₹445 Crore rooftop solar order for 2 kW on-grid systems across 40,000+ homes (FY26). About 20k installations under this AP tender were done by Q2 FY27.^[2][5]
Rooftop solar rollout to homes (B2C) and to commercial and industrial customers started in Q2 FY27.^[5]
In FY26 the company completed solar pump orders worth ₹500 Crore, installing 19,000+ systems with 97 MW of capacity.^[2]
Solar pumps (pumps plus rooftop) have a long-term revenue aspiration of Rs. 2,000 Cr. New businesses are targeted at 14-15% of consolidated revenue by FY29 and ~20% by FY31.^[1]
Residential wires address a market of Rs. 36,000-37,000 Cr. Production is initially outsourced, with no near-term capex.^[7]

Strategic targets

Revenue growth ambition is ~13-14% CAGR over FY27-FY29 and 2x revenue by FY31. EBITDA margin target is 11-12% by FY29 and 12%+ by FY31.^[4]
Smart and connected products are targeted at ~15% of revenue by FY29 and ~20% by FY31.^[4]
Fans targets for FY29: a market share gain of 100+ bps over FY26, premium products at 30% of fan sales, and new products at 20% of fan sales.^[4]
Butterfly is targeted to double its business in 3 years (by ~FY29), aiming for #1 in gas stoves, #2 in mixer grinders and #3 in pressure cookers.^[4]

Recent developments

Q2 FY27: Consolidated revenue grew 18.2% YoY to Rs 2,263 Cr, the third straight quarter of double-digit growth, with double-digit growth in every segment.^[5]
Q2 FY27: EBITDA margin rose 40 bps to 9.0%, which the company attributes to operating leverage and savings from its Unnati cost programme.^[5]
FY26: About ₹300 Crore of NCDs was repaid, leaving the company with zero debt.^[2]
Q1 FY27: Commodity availability problems cut primary sales by ~Rs. 200 Cr in fans, ECD and lighting. Supply stabilised by end-June 2026.^[4]
March 2026: Crompton Armor residential wires launched in Tamil Nadu and Karnataka.^[1]
January 2026: The move to the BEE 2.0 ceiling fan standard was carried out with no disruption.^[7]

Market Cap

₹12,531 Cr

High / Low

₹311 / 192

Stock P/E

-43.9

Price / Book

0.0

Book Value

₹46

EPS

₹-3.8

No. of Shares

64.39 Cr

ROCE

18.3%

ROE

-7.6%

OPM

8.8%

Debt / Equity

0.00

Sales

₹8,096 Cr

Net Profit

₹-231 Cr

Promoter holding

0.0%

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Crompton Greaves Consumer Electricals Ltd(CROMPTON)

About

Business segments

Products and brands

Operations and manufacturing

Key operating numbers

Customers and distribution

Solar business and new ventures

Strategic targets

Recent developments

Signal history

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