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    Buy Crompton Greaves Consumer Electricals, target price Rs 495: ICICI Securities

    Synopsis

    Crompton Greaves Consumer Electricals, incorporated in the year 2015, is a Mid Cap company (having a market cap of Rs 19645.69 Crore) operating in Consumer Durables sector.

    Crompton Greaves Consumer ElectricalsAgencies
    Considering the strong return ratios, healthy growth potential and low penetration levels, the brokerage remains structurally positive on white goods and durables sector.
    ICICI Securities has buy call on Crompton Greaves Consumer Electricals with a target price of Rs 495. The current market price of Crompton Greaves Consumer Electricals is Rs 308.95.

    Crompton Greaves Consumer Electricals, incorporated in the year 2015, is a Mid Cap company (having a market cap of Rs 19645.69 Crore) operating in Consumer Durables sector.

    Crompton Greaves Consumer Electricals key Products/Revenue Segments include Electrical Consumer Durables, Lighting Products, Scrap, Sale of services and Export Incentives for the year ending 31-Mar-2022.

    Financials
    For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 1537.51 Crore, down -10.50 % from last quarter Total Income of Rs 1717.80 Crore and up 7.92 % from last year same quarter Total Income of Rs 1424.63 Crore. Company has reported net profit after tax of Rs 88.19 Crore in latest quarter.

    The company’s top management includes Mr.H M Nerurkar, Mr.Shantanu Khosla, Mr.Mathew Job, Mr.Promeet Ghosh, Mr.D Sundaram, Mr.P M Murty, Ms.Smita Anand, Mr.P R Ramesh, Mr.Hiroo Mirchandani. Company has MSKA & Associates as its auditors. As on 31-12-2022, the company has a total of 64 Crore shares outstanding.

    Investment Rationale

    Considering the strong return ratios, healthy growth potential and low penetration levels, the brokerage remains structurally positive on white goods and durables sector. The brokerage also expects the migration from unorganised to organised sector to steadily generate value.

    Promoter/FII Holdings
    Promoters held 2.54 per cent stake in the company as of 31-Dec-2022, while FIIs owned 39.54 per cent, DIIs 44.5 per cent.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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