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Crompton Greaves Consumer Electricals held Investor Day yesterday

ICICIdirect Research 21 Aug 2026 DISCLAIMER

News: Crompton Greaves Consumer Electricals held Investor Day yesterday, unveiling “Crompton 2.0” focused on premiumisation and diversification. The company is expanding its TAM from ~₹80,000 crore to ₹1.6 lakh crore+ through wires, solar pumps, solar rooftops and water purifiers, with new businesses targeted to contribute ~20% of FY31 revenue and seasonality-linked revenue exposure declining from ~45% to ~20%. Crompton also launched Crompton Rhion, a premium water purifier using CDI technology, a first-of-its-kind global residential application. In solar pumps, it has installed 22,500 pumps and targets 40,000 by FY27, while solar rooftop has a ₹500 crore B2G order book with 6–9 months execution visibility. In fans, ₹350 crore greenfield capex is planned to increase in-house manufacturing from ~50%. A senior international-business hire has also been made to develop the international strategy.

View: After a broadly single digit growth performance since FY24, Crompton has now delivered double digit and double digit margin for 2 consecutive quarters. This was despite west asia led volatility which impacted both growth and margin. TAM expansion and lower seasonality are key structural positives. Wires, solar pumps and solar rooftops should diversify growth. Overall, steady core business, new-category scaling, premiumisation and operating leverage shall support management’s 2x revenue i.e. ~₹15000 cr (implying 13.1% CAGR) and 12%+ FY31 exit EBITDA margin targets.

Impact: Positive

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