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.
Both the ECD and lighting segments saw growth, but margin improvements were primarily led by the ECD segment.
Within the ECD segment, which accounts for 74 per cent of total revenues, the appliance business delivered robust year-on-year (Y-o-Y) growth of 26 per cent, driven by air coolers, water heaters, room heaters, and mixer grinders.
The management observed that it has secured a leadership position in the mixer grinder business, supported by Butterfly Gandhimathi Appliances' manufacturing facility.
The proportion of the premium portfolio within large domestic appliances rose by 270 basis points (bps) compared to the same quarter last year.
This story is from the November 29, 2024 edition of Business Standard.
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This story is from the November 29, 2024 edition of Business Standard.
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