Broker’s call: Crompton Greaves Cons. (Buy)

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SENSEX 73,709.69

 -143.21

NIFTY 22,811.35

 -77.60

NIFTY 22,811.35

 -77.60

CRUDEOIL 9,269.00

 -42.00

CRUDEOIL 9,269.00

 -42.00

GOLD 145,850.00

 -669.00

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Religare Broking

By KS Badri Narayanan

Updated - October 21, 2026 at 06:32 PM.

Crompton reported double-digit revenue and earnings growth in Q2FY27, supported by broad-based performance across its business segments

Target: ₹272

CMP: ₹200.90

Crompton Greaves Consumer Electricals delivered a strong Q2-FY27, with consolidated revenue growing 18.2 per cent y-o-y to ₹2,263 crore, marking the third consecutive quarter of double-digit growth. All three business segments recorded double-digit growth, supported by improved execution, product innovation and strengthening distribution reach. Electrical Consumer Durables revenue grew 19.4 per cent to ₹1,634 crore, led by a recovery in fans, healthy demand for conventional pumps and continued traction in water heaters and small domestic appliances. Lighting revenue increased 14.3 per cent to ₹298 crore, driven by ceiling lights, outdoor lighting and industrial and commercial demand. Butterfly also sustained its recovery, with revenue growing 15.9 per cent to ₹331 crore, excluding inter-company sales in the comparable base, supported by market-share gains across core kitchen appliance categories.

Management confirmed that the supply-chain disruptions experienced in Q1 have normalised, with inventory levels restored to comparable year-ago levels.

Crompton reported double-digit revenue and earnings growth in Q2FY27, supported by broad-based performance across its business segments. Operating leverage and cost-efficiency measures supported margin expansion despite continued commodity cost inflation.

Going ahead, performance will depend on demand trends, pricing actions, input costs and execution of its medium-term growth plans. We maintain our Buy rating on the stock with a target price of ₹272.

Published on October 21, 2026

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