MUMBAI:
The Board of directors, in the meeting held on 25t
h October, 2016 approved the quarterly results of Crompton Greaves Consumer Electricals Limited for the quarter ended 30th September, 2016. Total Income for the quarter was Rs. 890.0 Crs, a growth of 10.6% year on year (y-o- y). The Company has posted an Operating Profit (before corporate expenses and exceptional Items) of Rs. 1
19.8 Cr for the quarter, a y-o- y growth of 53.6%. Operating Profit (before corporate expenses and exceptional Items) to Sales increased from 9.7% in Q2FY16 to 13.5% in Q2FY17.
For the above comparison purposes, the Company has considered the Sales & Segment EBIT numbers of the Consumer business as reported by Crompton Greaves Ltd, for the corresponding period last year.
The Company continued to drive execution of its chosen five key strategic drivers to accelerate growth &
profitability. In the quarter, media exposure was sustained and supplemented with initiatives across brand
showrooms, in store marketing & product display, and branding for local festivals. The go-to- market
initiative was expanded to select geographies pan India. Progress of cost & supply chain efficiency projects has started accruing savings and its impact on total delivered cost is visible through operating margin expansion, despite a larger investment in brand building. The ERP implementation project is on track to go live in Q4FY17. The Company has commenced initiatives to enhance organizational capabilities, based on feedback from an organisation-wide engagement study.
Commenting on the Quarter results, Company’s Managing Director Shantanu Khosla said “Growth this quarter has been good across segments. Our focus categories viz Premium Fans, Agro Pumps and LED Lighting have all registered significant growth. Latest retail audit data indicates that we are continuing to gain share in ceiling fans and LED lights. Our branding campaign has continued to improve awareness across our offering, which is very encouraging. Continuing with our customer- centric innovation, we have recently launched the Avancer – Anti Dust Fan, which uses a special coating to reduce the hassle of fan cleaning. We will continue to drive our strategic choices in our endeavour to create meaningful value for all our stakeholders.”
