Crompton Greaves Consumer Electricals (CGCE) posted a good set of numbers for Q4FY24. It reported its highest ever quarterly revenue at Rs. 1,797 cr, up 12% (YoY). It has strong standalone margins even with stepped-up investments towards A&P (increase of 0.9% over last year). Q4 EBIT margin came in at 12.3% (+100 bps YoY) (adjusted for EPR impact). The PAT for the quarter was at Rs.161 crore, up 22%.

On a consolidated basis, the performance was muted with revenue from operations rising 8.5% to Rs.1961 crore. PBT was almost status quo at Rs.169 crore while PAT came in at Rs.133 crore, up 1.5%.

The company has three verticals – Electrical Consumer Durables (ECD), Lighting and Butterfly. Standalone numbers include ECD and Lighting and Butterfly is a part of the consolidated.

Butterfly was the drag in the consolidated numbers as its revenue fell 12% to Rs.164 crore and it posted a loss before tax at Rs.26 crore v/s PBT of Rs.4 crore (YoY).

Post these numbers, many analysts and fund houses have given a buy call or raised their target as they expect Butterfly to recover in current Q2 quarter. ECD is doing well and with focus on product innovation, many expect sustainable performance ahead.

Stock is currently the top gainer on the BSE; from its close of Rs.338.75, the stock opened higher at Rs.349.15 and rose to hit a new 52-week high at Rs.395.50.