Crompton Greaves Consumer Electricals Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Crompton Greaves Consumer Electricals Ltd filed with BSE on 19 May 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 Q4 FY26 consolidated revenue growth of 11% year-on-year to Rs 2,283 crore, led by 10% growth in ECD and 14% growth in lighting, with EBIT margins improving from 6.8% in H1 to about 10% in Q4. Management described new business lines in wires and solar rooftop that began commercial sales during the quarter, alongside continued ramp-up in solar pumps. The company also disclosed an impairment on the carrying value of its Butterfly Gandhimathi holding and announced the creation of a new premium product line called Crompton Rhion.
Numbers mentioned
Consolidated revenue: Rs.2,283 Cr (Q4 FY26)
p. 4
“Consolidated revenue grew by 11% Y-o-Y to RS. Rs.2,283 Cr led by a 10% growth in ECD and, like I said, the industry-leading growth of 14% in lighting.”
Promeet Ghosh, page 4 of the filed PDF · View the filing
EBIT margin: about 10% (Q4 FY26)
p. 4
“Our EBIT margins improved from 6.8% in H1 to exit at about 10% in Q4.”
Promeet Ghosh, page 4 of the filed PDF · View the filing
Consolidated EBITDA: Rs. 271 Cr with margins of 11.9% (Q4 FY26)
p. 5
“Consolidated EBITDA in Q4 at Rs. 271 Cr with margins of 11.9%.”
Promeet Ghosh, page 5 of the filed PDF · View the filing
Lighting revenue growth: 14% (Q4 FY26)
p. 5
“industry-leading growth of 14% overall.”
Promeet Ghosh, page 5 of the filed PDF · View the filing
Butterfly revenue growth: 17% (Q4 FY26)
p. 5
“Butterfly business delivered a 17% revenue growth together with steady EBIT margins.”
Promeet Ghosh, page 5 of the filed PDF · View the filing
BLDC fan portfolio growth: 30%-plus
p. 4
“Our BLDC portfolio, which has been bolstered by product introductions earlier in the year is now growing at 30%-plus.”
Promeet Ghosh, page 4 of the filed PDF · View the filing
Price increase in fans category: 7% to 8% (cumulative last year, largely Q4)
p. 7
“we've taken about 7% to 8% price increase in our lead category like fans.”
Kaleeswaran A., page 7 of the filed PDF · View the filing
Butterfly cash: Rs 170 Cr
p. 6
“But now even Butterfly with about Rs 170 Cr of cash, is cash flow positive as well.”
Promeet Ghosh, page 6 of the filed PDF · View the filing
Free cash flow generation: crossing Rs. 500 Cr (FY26)
p. 14
“And you would have seen that it continues to generate a good amount of cash, even in FY26 crossing Rs. 500 Cr.”
Kaleeswaran A., page 14 of the filed PDF · View the filing
Solar rooftop order book: about Rs. 500 Cr
p. 7
“The solar rooftop business when we started, we quickly managed to increase our order book to order of magnitude about Rs. 500 Cr.”
Promeet Ghosh, page 7 of the filed PDF · View the filing
Solar rooftop homes executed: about 5,000 homes
p. 5
“So about 5,000 homes now already have rooftops coming out of the Crompton stable and that's after we really stepped-up execution of this product in the last 2-3 months.”
Promeet Ghosh, page 5 of the filed PDF · View the filing
EBOs for premium range: about 70 EBOs
p. 15
“We already have order of magnitude about 70 EBOs, which are running in the country.”
Promeet Ghosh, page 15 of the filed PDF · View the filing
Decline in government-related contracts share in B2B lighting: nearly 500 basis points (last year)
p. 8
“I can tell you that the share of government-related contracts has declined. As a part of the mix, it's declined by nearly 500 basis points last year.”
Promeet Ghosh, page 8 of the filed PDF · View the filing
R&D and innovation spend: about Rs. 100 Cr annually
p. 11
“for a company of our size, we are spending annually about Rs. 100 Cr in R&D and innovation”
Promeet Ghosh, 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.
Solar business (pumps + rooftop) revenue — Rs. 2,000 Cr · next 3-4 years
stated as an aspiration by Promeet Ghosh
p. 13
“I didn't say Rs. 1,500 Cr, I said Rs. 2,000 Cr.”
Promeet Ghosh, page 13 of the filed PDF · View the filing
Wires national rollout
stated firmly by Shaleen Nayak
p. 12
“We will ramp up throughout the country. It will not be spread over the entire year, and we will not restrict our distribution to select towns or cities but seek to leverage the maximum extent of Crompton distribution that we have nationwide.”
Shaleen Nayak, page 12 of the filed PDF · View the filing
Margin trajectory
stated conditionally by Promeet Ghosh
p. 11
“Over a period of time, as the turbulence that we are hoping is episodic because of the war, as that settles down, I think margin should go back up.”
Promeet Ghosh, page 11 of the filed PDF · View the filing
Butterfly expansion in non-South markets — coming year
stated as an aspiration by Promeet Ghosh
p. 16
“In the coming year, the focus will be on gaining traction in Butterfly, in other parts of the country, in North-East-West (NEW), so to say and I think from time to time we'll come back and keep you posted about how that is going.”
Promeet Ghosh, page 16 of the filed PDF · View the filing
Agricultural and speciality pumps growth
stated as an aspiration by Promeet Ghosh
p. 10
“our aspiration has been that we will step up our growth in Agricultural and Speciality, we did some product interventions during the year.”
Promeet Ghosh, page 10 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 said two price increases have been taken in ECD, ahead of competition, but the impact of the war is not expected to go away soon and they continue to monitor it closely.
Answered by Promeet Ghosh
Asked by Aditya Bhartia: Whether cost inflation from the war has been fully passed on through price increases.
p. 6
“So far, we have largely managed this by, managing cost, but also passing on price increases into the market.”
Promeet Ghosh, page 6 of the filed PDF · View the filing
CFO stated about 7-8% price increase taken in fans, offsetting much of the cost inflation, though further material cost inflation is being seen in April.
Answered by Kaleeswaran A.
Asked by Aditya Bhartia: What quantum of price increases and cost inflation has been seen.
p. 7
“So, if you look at it for Q4 or even cumulative for last year, we've taken about 7% to 8% price increase in our lead category like fans.”
Kaleeswaran A., page 7 of the filed PDF · View the filing
Management described solar pumps growing from Rs 20 Cr to Rs 200 Cr and further significant growth, and solar rooftop order book of about Rs 500 Cr being executed.
Answered by Promeet Ghosh
Asked by Dhruv Jain: What is the contribution and ramp-up outlook for the solar portfolio.
p. 7
“Solar pumps, if you recall, we started with a Rs. 20 Cr revenue 3 years ago, then it doubled to Rs. 200 Cr.”
Promeet Ghosh, page 7 of the filed PDF · View the filing
Management explained margins were flat year-on-year despite higher ad spend, driven by mix shift, supply chain restructuring and reduced low-margin government contracts.
Answered by Promeet Ghosh
Asked by Dhruv Jain: Why lighting margins dipped despite strong top-line growth.
p. 9
“So that's kind of -- actually if you look at year-on-year, the margin is roughly the same and that's after a materially higher investment in ad spends during this quarter.”
Promeet Ghosh, page 9 of the filed PDF · View the filing
Management clarified there is no tax angle and the impairment does not affect merger plans, which remain on the cards.
Answered by Kaleeswaran A.
Asked by Aniruddha Joshi: Whether the Butterfly impairment is tax-driven and status of the Butterfly merger plan.
p. 12
“We are saying there is no tax impact on account of this, Aniruddha. This is not a decision that is taken from a tax perspective.”
Kaleeswaran A., page 12 of the filed PDF · View the filing
Management said debtor days in traditional trade are unchanged and collections in the solar pumps government business are moving as expected, with no specific stress observed.
Answered by Kaleeswaran A.
Asked by Natasha Jain: Whether there are signs of payment stress across the value chain, including contractors and builders.
p. 14
“There is no major change compared to last year to this year. In terms of solar pumps, which is the business that we do with government, the collections are moving in line with what is our expectation that we have with all the contractors with a very good ROCE coming in.”
Kaleeswaran A., page 14 of the filed PDF · View the filing
Management said cost increases are being faced across all product categories including kitchen, and the preference is to pass these on to consumers.
Answered by Promeet Ghosh
Asked by Rachna Kukreja: Whether gross margin pressure from raw material inflation is being seen in Butterfly and kitchen appliances, and how much is being passed on.
p. 15
“Cost increases are across the board. All products are facing cost increases.”
Promeet Ghosh, page 15 of the filed PDF · View the filing
Risks flagged
War-related cost inflation and availability issues affecting products
p. 6
“Because of the war, there have been cost inflation as well as availability issues in several of our products.”
Promeet Ghosh, page 6 of the filed PDF · View the filing
Competitors not following price increases, creating a competitive pricing risk
p. 6
“I am hoping that competition, rather than playing the pricing game, will now also start to see that the impact of the war is not going to go away anytime soon.”
Promeet Ghosh, page 6 of the filed PDF · View the filing
Further material cost inflation emerging in April
p. 7
“But subsequently, we are seeing further material cost inflation happening in April.”
Kaleeswaran A., page 7 of the filed PDF · View the filing
Weak industry demand for pumps and large domestic appliances due to heavy rains and tepid summer
p. 10
“It's also a year in which because of heavy rains, the industry demand for pumps was quite tepid, Residential pumps was quite tepid.”
Promeet Ghosh, page 10 of the filed PDF · View the filing
Heavy inventory buildup in air coolers due to weak early-season sales
p. 10
“Air coolers, we and most of the market were stuck with heavy inventories because they did not sell in early part of the year, which is really the season.”
Promeet Ghosh, page 10 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.