On a consolidated basis, Crompton Greaves Consumer Electricals net profit jumped 144% to Rs 249.08 crore on a 48.3% jump in net sales to Rs 1,522.05 crore in the fourth quarter of March 2021 compared to fourth quarter of March 2020.
The PAT for the current year also includes the impact of the IT assessment order (including the relative interest) for previous years. Like PAT, growth is 63.5%.
Profit before tax (PBT) increased 68.9% to Rs 230.98 crore in Q4 FY21 from Rs 136.72 crore in Q4 FY20. EBITDA climbed 61.5% to Rs 228 crore in Q4 March 2021 versus Rs 141 crore in Q4 March 2020. EBITDA margin improved to 15% in Q4 FY21 versus 13.8% in Q4 FY20 .
Among the segments, revenues from durable electrical consumer goods soared 61% to 1,193 crore rupees in the fourth quarter of fiscal year 20. Lighting products revenues grew 15% at Rs 329 crore in the fourth quarter of March 2021 compared to the fourth quarter of March 2020.
Growth remained strong across all product segments and channels. The fan sector continued to grow its market share while the home appliance sector experienced industry leading growth driven by strong performance in water heaters, air coolers and appliances. kitchen, the company said.
The firm said commodity costs had risen sharply since November and continued the trend throughout the fourth quarter. The company has taken several measures to partially mitigate the impact of the increased costs.
Meanwhile, the board declared a final dividend of Rs 2.50 per share for fiscal year 2020-2021. The firm said its cash conversion continues to be strong, thanks to effective management of working capital.
Commenting on the fourth quarter results, Shantanu Khosla, Managing Director (MD) of Crompton Greaves Consumer Electricals, said: “The ECD segment continued to perform strongly, recording robust growth across all categories and geographies. The B2C LED lighting business continued its trend of improving growth. The B2B lighting business continued to be challenged due to the slowness in collecting orders from institutional and government entities. Alternative channels, viz. E-com, MOR and Rural, have increased their contribution to the entire activity.
Shares of Crompton Greaves Consumer Electricals rose 1.38% to close at Rs 388.80 on Friday.
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(This story was not edited by Business Standard staff and is auto-generated from a syndicated feed.)
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