At its investor day today, the company released its outlook for financial year 2029 and 2031. It expects revenue to grow at a Compounded Annual Growth Rate (CAGR) of 13% to 14% until financial year 2029, while it expects the figure to double by financial year 2031.
The company also said that its profit growth will be higher than the revenue growth.
EBITDA margin for financial year 2029 is likely to expand to 11% to 12% and then surge past the 12% mark by financial year 2031, the company stated.
The smart and connected mix business will grow to 15% of the overall revenue by financial year 2029 and 20% by 2031.
New businesses are also expected to reach a similar level, 14% to 15% of overall topline by financial year 2029 and 20% by 2031, the company stated.
Crompton Greaves Consumer Electricals reported an 11.8% increase in revenue in the first quarter at ₹2,235 crore from ₹1,998 crore in the previous year.
Its EBITDA increased 14.2% to ₹224.2 crore from ₹192 crore and its EBITDA margin expanded to 10% from 9.6% in the year-ago period.Its net profit increased 14.8% to ₹141 crore from ₹122 crore last year. However, it was below Street estimats of ₹143 crore.
The company’s revenue and EBITDA were also below Street estimates of ₹2,300 crore and ₹232 crore, respectively. Meanwhile, its EBITDA margin fell short marginally from Street estimates of 10.1%.
Shares of Crompton are trading 2.8% higher on Thursday at ₹252.3. The stock has turned positive on a year-to-date basis.
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