Crompton Greaves Consumer Electricals Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Crompton Greaves Consumer Electricals Ltd filed with BSE on 13 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Crompton Greaves Consumer Electricals reported consolidated Q1 FY27 revenue growth of 11.8% YoY to Rs. 2,235 crores, with EBITDA up 14.2% YoY to Rs. 224 crores and profit after tax up 15.2% to Rs. 143 crores. Management said the quarter was affected by commodity cost and supply disruptions, resulting in an estimated Rs. 200 crores of lost primary sales, mainly in fans, with pricing interventions covering about 80% of inflationary pressure. All three segments, ECD, Lighting and Butterfly, posted double-digit revenue growth, and management said supply constraints were largely resolved by the end of the quarter.
1 statement from this call is not shown because its supporting quote could not be reproduced within our quoting limits. Nothing shown here is affected: every statement on this page carries its verified quote.
Numbers mentioned
Revenue: Rs. 2,235 crores (Q1 FY27)
p. 4
“revenue grew 11.8% YoY to Rs. 2,235 crores”
Promeet Ghosh, page 4 of the filed PDF · View the filing
EBITDA: Rs. 224 crores (Q1 FY27)
p. 4
“EBITDA was Rs. 224 crores, it grew 14.2% YoY with margins expanding by 20 bps, reaching 10%”
Promeet Ghosh, page 4 of the filed PDF · View the filing
Profit after tax: Rs. 143 crores (Q1 FY27)
p. 4
“Profit after tax grew 15.2% to Rs. 143 crores, with net profit margin at 6.4%”
Promeet Ghosh, page 4 of the filed PDF · View the filing
ECD revenue growth: 10.6% YoY (Q1 FY27)
p. 4
“ECD business delivered 10.6% YoY revenue growth”
Promeet Ghosh, page 4 of the filed PDF · View the filing
BLDC portfolio growth: ~45% (Q1 FY27)
p. 4
“Our BLDC portfolio grew ~45% this quarter, resulting from the focused portfolio interventions that we have made in the last four quarters”
Promeet Ghosh, page 4 of the filed PDF · View the filing
Lighting revenue: Rs. 269 crores (Q1 FY27)
p. 4
“Revenue grew by 15.4% YoY to Rs. 269 crores, driven by growth in both the B2B as well as the B2C segments”
Promeet Ghosh, page 4 of the filed PDF · View the filing
Lighting EBIT margin: 12% (Q1 FY27)
p. 4
“We reported an EBIT margin of 12% in lighting segment.”
Promeet Ghosh, page 4 of the filed PDF · View the filing
Butterfly revenue: Rs. 214 crores (Q1 FY27)
p. 4
“Butterfly delivered strong results, with revenue up 14% to Rs. 214 crores, driven by strong momentum across all channels and market share gains in mixer grinders, pressure cookers, and glass tops”
Promeet Ghosh, page 4 of the filed PDF · View the filing
Butterfly EBIT margin: 4.2% (Q1 FY27)
p. 5
“EBIT at Butterfly grew by 19.5% YoY, with margins at 4.2%”
Promeet Ghosh, page 5 of the filed PDF · View the filing
Lost sales from supply disruption: Rs. 200 crores (Q1 FY27)
p. 6
“I would say that, because of supply disruptions, we did lose some sales, order of magnitude ~ Rs. 200 crores, maybe a little bit more.”
Promeet Ghosh, page 6 of the filed PDF · View the filing
Solar rooftop order book: Rs. 500 crores (Q1 FY27)
p. 7
“Frankly, as you are aware, out of that Rs. 500 crores, Rs. 450 crores is an order book that we expect to execute over the 6 to 8 months.”
Promeet Ghosh, page 7 of the filed PDF · View the filing
Wires presence: 14 cities (Q1 FY27)
p. 11
“We've been about 14 different towns and cities.”
Shaleen, page 11 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Greenfield manufacturing plant capex — Rs. 350 crores · next two-three years
stated firmly by Promeet Ghosh
p. 9
“that manufacturing plant will also include a large warehousing unit, and will spend about Rs. 350 crores”
Promeet Ghosh, page 9 of the filed PDF · View the filing
A&P spend as % of sales — similar to last year · FY27
stated firmly by Promeet Ghosh
p. 7
“So, on a generic basis, I'd say the kind of percentage to sales over the year should be similar to the one that we'd had last year.”
Promeet Ghosh, page 7 of the filed PDF · View the filing
Solar rooftop order book execution — Rs. 450 crores of order book · 6 to 8 months
stated firmly by Promeet Ghosh
p. 7
“out of that Rs. 500 crores, Rs. 450 crores is an order book that we expect to execute over the 6 to 8 months”
Promeet Ghosh, page 7 of the filed PDF · View the filing
Solar rooftop installation completion — Q2
stated conditionally by Kaleeswaran Arunachalam
p. 11
“but revenue is recognised when the installation gets completed, which we're expecting to happen in Q2.”
Kaleeswaran Arunachalam, page 11 of the filed PDF · View the filing
Pricing increases needed for margin support — no significant further increases
stated conditionally by Promeet Ghosh
p. 9
“As of now, do we see a significant spate of pricing increases being necessary? The answer is no.”
Promeet Ghosh, page 9 of the filed PDF · View the filing
BLDC and fans growth momentum — mid and long run
stated as an aspiration by Kaleeswaran Arunachalam
p. 11
“the momentum should continue in both mid and long run”
Kaleeswaran Arunachalam, page 11 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management attributed the impact to supply disruptions causing lost sales, not a demand issue.
Answered by Promeet Ghosh
Asked by Aditya Bhartia: Whether volume growth in ECD was modest given price hikes, and reasons despite a favourable base.
p. 6
“I would say that, because of supply disruptions, we did lose some sales, order of magnitude ~ Rs. 200 crores, maybe a little bit more.”
Promeet Ghosh, page 6 of the filed PDF · View the filing
Management said low-cost inventory contribution was not material given their lean inventory model.
Answered by Promeet Ghosh
Asked by Aditya Bhartia: Whether margin expansion despite 80% cost pass-through implies low-cost inventory cushioning and further hikes needed in Q2.
p. 6
“So, I wouldn't say the contribution of low-cost inventory for us was very material.”
Promeet Ghosh, page 6 of the filed PDF · View the filing
Management said the order book remains intact and expects a large part of execution in the current and next quarter.
Answered by Promeet Ghosh
Asked by Dhruv Jain: Status and outlook of the solar rooftop order book.
p. 7
“This quarter and the next quarter is where I would expect a huge bulk of that order book to get executed.”
Promeet Ghosh, page 7 of the filed PDF · View the filing
Management said demand remains robust and pricing caused only a delaying effect, not demand suppression; capex plans include a greenfield plant.
Answered by Promeet Ghosh
Asked by Achal Lohade: Whether weak consumption or category-specific factors explain the quarter, and capex plans for new categories.
p. 8
“So, I think the pricing has a delaying impact, but not a demand suppression impact.”
Promeet Ghosh, page 8 of the filed PDF · View the filing
Management said no significant further price increases are currently seen as necessary.
Answered by Promeet Ghosh
Asked by Parag Khare: Whether rising copper prices will require further pricing action.
p. 9
“At least to date, I am not seeing a sharp set of price increases that are still necessary for us because of the combination of the two, or actually three - price increases, cost measures, as well as our operating leverage.”
Promeet Ghosh, page 9 of the filed PDF · View the filing
Management said channel inventory is not a concern and the tertiary sale pattern was unaffected.
Answered by Kaleeswaran Arunachalam
Asked by Siddhartha Bera: Whether channel inventory was affected by the lost sales and whether shortfall could be recovered.
p. 10
“We never had too much of a channel stock earlier also. We don't think that's a concern right now though.”
Kaleeswaran Arunachalam, page 10 of the filed PDF · View the filing
Management declined to give forward guidance but pointed to strong BLDC and premium fan momentum.
Answered by Kaleeswaran Arunachalam
Asked by Umang Mehta: Whether 15% fan category growth is a fair expectation for the rest of the year.
p. 10
“Yes, Umang, as you would know, we don't provide forward guidance in terms of how we go about it.”
Kaleeswaran Arunachalam, page 10 of the filed PDF · View the filing
Management said this was a one-off event and the asset-light business model would not be revisited because of it.
Answered by Kaleeswaran Arunachalam
Asked by Sameer Gupta: Whether the Rs. 200 crore lost sales changes the company's inventory management approach ahead of peak season.
p. 13
“these are typically one-off black swan events, for which we cannot change the business model of the company.”
Kaleeswaran Arunachalam, page 13 of the filed PDF · View the filing
Management said core categories grew in line with competition and growth was not backed by induction cooktops, which the company does not emphasize.
Answered by Swetha Sagar
Asked by Sameer Gupta: Why Butterfly's 18% growth trailed a competitor's 34% growth, and whether induction cooktop demand played a role.
p. 13
“our growth is not backed by induction cooktop at this point in time.”
Swetha Sagar, page 13 of the filed PDF · View the filing
Management explained the payment structure with government counterparties and said margins are similar to overall EBITDA margin, with monsoon affecting installation timing.
Answered by Promeet Ghosh
Asked by Keyur Pandya: How the solar rooftop and solar pump businesses are structured in terms of profitability and working capital, and monsoon impact.
p. 15
“Therefore, the gross receivables from the government, by the way, is not identical to net receivables.”
Promeet Ghosh, page 15 of the filed PDF · View the filing
Management said this is a seasonal business and the lost sales are unlikely to be fully recovered quarter-on-quarter, though market share should be reclaimed.
Answered by Kaleeswaran Arunachalam
Asked by Ashish Kanodia: Whether the Rs. 200 crore of lost primary sales will be recovered in coming quarters.
p. 17
“Yeah, Ashish, we are in a seasonal business. Q1 is a season for fans. You would have seen that some of these are seasonal impact that will not be something that you'll recover on a quarter-on-quarter basis.”
Kaleeswaran Arunachalam, page 17 of the filed PDF · View the filing
Risks flagged
Commodity cost and availability pressure from global events at the start of the quarter
p. 3
“This quarter began, as you know, on an uncertain note because of global events with commodities facing cost and availability pressure.”
Promeet Ghosh, page 3 of the filed PDF · View the filing
Supply disruptions leading to lost primary sales
p. 6
“we did lose some sales, order of magnitude ~ Rs. 200 crores, maybe a little bit more”
Promeet Ghosh, page 6 of the filed PDF · View the filing
Lack of visibility on supply of commodities and input materials
p. 6
“there was a clear lack of visibility on supply of commodities and of various input materials as well”
Promeet Ghosh, page 6 of the filed PDF · View the filing
Pre-contracted B2B lighting prices limiting ability to pass on cost increases
p. 4
“Margins in B2C segment continued to expand, but B2B witnessed a contraction in margins because of pre-contracted prices.”
Promeet Ghosh, page 4 of the filed PDF · View the filing
Prior delays in government payments for solar pumps business
p. 15
“Insofar as the solar pumps business is concerned, we did find that there was some delays in the payment of the government a couple of quarters ago.”
Promeet Ghosh, page 15 of the filed PDF · View the filing
Monsoon impacting installation execution for solar pumps and rooftops
p. 16
“if it's raining very heavily in an area, obviously you can't go and install a solar pump because the place would be wet”
Promeet Ghosh, page 16 of the filed PDF · View the filing
Competitors possibly benefiting from low-cost inventory not following pricing discipline
p. 9
“we have not seen most of our competitors, or a large bulk of our competitors, frankly, follow through in the same manner”
Promeet Ghosh, page 9 of the filed PDF · View the filing
Gas cylinder supply issues affecting oil marketing companies' gas stove uptake, impacting Butterfly
p. 14
“this was a quarter that was impacted by gas cylinder issues and oil marketing companies did not take off on gas stoves”
Kaleeswaran Arunachalam, page 14 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.