Crompton Greaves Consumer Electricals (CGCE), demerged from Crompton Greaves and was acquired by private equity duo Advent International, going to list as a separate entity. The company manufactures and markets a wide spectrum of consumer products, ranging from fans, lamps and luminaries to pumps and household appliances such as water heaters, mixer grinders, toasters, irons and electric lanterns.

Its Q2FY17 performance was disappointing to say the least. Net sales dropped 18% (QoQ) at Rs.890 crore. Total costs, led by a 39% drop in raw material prices and other expenses, was down 18%. Yet, EBITDA showed a decline of 37% at Rs.97 crore.

Tax outgo for the quarter was down 41% and that helped anchor a steeper fall in net profit, which came in at Rs.55 crore, down 40%. Its interest outgo for H1FY17 was at Rs.34 crore and debt is at Rs.650 crore. Equity capital (Rs.2 FV) stands heavy at Rs.125.35 crore.