Hits upper circuit twice in single day; This consumer durable stock hits 52-week high with robust volume, FIIs own 32.18 per cent and DIIs own 51.47 per cent!
The company's shares have delivered an impressive return of over 35 per cent to their shareholders in just one month.
Crompton Greaves Consumer Electricals Limited is one of the leading consumer companies in India, with a brand legacy of over 75 years. It is an independent company under professional management with two business segments: Lighting and Electrical Consumer Durables. We market our products under the "Crompton" brand name in India and select export markets. Today the company experienced a significant surge in its share price.
At the start of the day's trading session, the stock opened at Rs. 349.15 per share, compared to the previous day's closing figure of Rs. 338.75 per share on the BSE. Finally, the stock closed at Rs. 391.85 per share. The stock reached the upper circuit price limit of 10 per cent, reflecting strong demand in the market with no sellers willing to offer shares, resulting in potential buyers being unable to make purchases, leading to disappointment among buyers. After opening the upper circuit filter, it again locked into the upper circuit limit of 5 per cent today. The stock was among the Top Gainers today. The company's current market capitalisation stands at Rs 25,200 crore, and the stock has generated an impressive return of around 54 per cent in the past one year.
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Shareholding Pattern of Crompton Greaves Consumer Electricals:
In March 2024, FIIs held 32.18 percent, which decreased from 35.58 percent, while DIIs' stake stood at around 51.47 percent as per the recent update.
Financial Performance of Crompton Greaves Consumer Electricals
As per the Quarterly Results in Q4 FY24, the company reported a revenue of Rs 1961 crore compared to a revenue of Rs 1791 crore, representing a gain of 9.50 per cent YoY. The company’s operating profit reached Rs 204 crore compared to Rs 211 crore in Q4 FY23. The operating margin stood at 10 per cent. The net profit of the company was Rs 133 crore in Q4 FY24 compared to Rs 132 crore.
Business Overview
Crompton Greaves Consumer Electricals Limited is an India-based consumer electrical company. The company operates through two segments: Electric Consumer Durables (ECD) and Lighting. It manufactures and distributes a range of consumer products, including fans, pumps, and appliances in the ECD segment, and a full range of lighting products. Its product portfolio includes ceiling fans, table fans, pedestal fans, wall-mounted fans, heavy-duty exhaust fans, air circulators, industrial fans, residential pumps, agricultural pumps, solar pumps, specialty pumps, water heaters, air coolers, mixer grinders, irons, LED lamps, LED battens, LED panels, LED streetlights and floodlights, incandescent lamps, compact fluorescent lamps, interior and indoor lighting, and fluorescent tubular lights. The company markets its products under the Crompton brand name in India. Its manufacturing locations include Goa, Vadodara, Ahmednagar, and Baddi.
Investors must keep this Large-Cap stock on their radar. The company has great potential to deliver multibagger returns to its shareholders in the future.
Disclaimer: The article is for informational purposes only and not investment advice.