On the segmental front, Electric Consumer Durables revenue was Rs 1,325.74 crore (down 7.7% YoY) Lighting Products was Rs 278.57 crore (down 12.13% YoY) and revenue from Butterfly Product stood at Rs 186.65 crore in the fourth quarter.
During the quarter, consolidated EBITDA stood at Rs 211 crore and EBITDA margin was at Rs 11.8%.
The company stated that Q4 FY23 performance was driven by industry leading growth of 8% in ECD segment. Appliances business growing by 42% maintained its growth momentum and pumps business strongly recovered to deliver growth of 15%. Fans performed well led by premium segment, in the face of BEE transition and subdued demand outlook. While margins improved in lighting, decline in revenue was due to lower B2B segment performance.
Revenue from Butterfly Gandhimathi Appliances stood at Rs 187 crore in Q4 FY23. Retail channel continued to grow strongly in all categories.
On full year basis, the company's consolidated net profit declined 19.9% to Rs 463.21 crore despite of 27.4% jump in net sales to Rs 6,869.61 crore in FY23 over FY22.
Commenting on the quarter results, company's managing director (MD) & chief executive officer (CEO), Promeet Ghosh, said, ?We delivered well in Q4 with our calibrated approach towards BEE transition, roll out of new brand architecture for Pumps, portfolio strengthening in Appliances and focus on premiumisation across the board.?
Shantanu Khosla, executive vice chairman commented, ?Our strong performance during the quarter and continuous thrust on various initiatives position the business and organisation well to deliver sustained growth. I am delighted to welcome Promeet to lead the organisation as he brings with him a breadth of experience and a deep understanding of our business.?
Meanwhile, the board has recommended a final dividend of Rs 3 per equity share for FY23. The dividend will be paid on or after Tuesday, 25 July 2023.
Crompton Greaves Consumer Electricals manufactures and markets a wide spectrum of consumer products, ranging from fans, lamps and luminaries to pumps and household appliances such as water heaters, coolers, mixer grinders and irons.
The counter was up 0.06% to settle at Rs 254.05 on Friday, 19 May 2023.
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