Crompton Greaves shares jump over 16% after Q4 results, dividend announcement

At 11:18 am, the stock was trading at ₹394.4, up 16.3%, on the National Stock Exchange. Intraday, the stock hit a high of ₹398.8.

The scrip was up 16.4% to ₹394.3 on the BSE.

Crompton Greaves Q4 results

The company posted a consolidated profit of ₹133.4 crore in the March 2024 quarter, up 1.4% from ₹131.5 crore the year ago.

The revenue from operations also grew to ₹1,961 crore in Q4 FY24 from ₹1,790.9 crore in the corresponding period last year.

The revenue of the electric consumer durables (ECD) segment was ₹1,515.98 crore in the January-March quarter, compared to ₹1,325.74 crore in the same period the previous year. Revenue from lighting products in the quarter under review increased to ₹281.12 crore from Rs 278.57 crore in FY23.

The electric consumer durables (ECD) segment clocked revenue of ₹1,515.98 crore in the last quarter of year ended on March 31, 2024 as compared to ₹1,325.74 crore in the same period a year ago. Lighting products revenue in the quarter was higher at ₹281.1 crore, up from ₹249.3 crore in Q4 FY23.

The company's board also recommended a final dividend of ₹3 per share of ₹2 face value for the financial year 2023-24.

For FY24, the consolidated net profit was 7.2% year-on-year to ₹441.78 crore, while revenue from operations increased 6.4% to ₹7,312.81 crore.

On Q4 results, Promeet Ghosh, MD & CEO of Crompton Greaves, said, "We delivered a strong performance in ECD with double-digit growth for the third consecutive quarter with robust improvement in industry-leading EBIT margins. The lighting business is showing signs of stabilisation with revenue growth in H2 despite price erosion. We expect the intense summer season and an uptick in demand for home & kitchen appliances to support the growth momentum while we continue to invest in growth initiatives".