Crompton Greaves Consumer Electricals Limited — Q3 FY26
Crompton reported Q3 FY26 consolidated revenue of ₹1,898 crore, up ~7% YoY, with EBITDA margin expanding to 10.3% (up 185bps QoQ).
bullish
high
✓ Verified against BSE filing
Claim Ledger
Did management answer the analysts?
Every material analyst question, graded on whether management actually answered it — with the verbatim exchange and quantitative claims checked against filed numbers.
55%Questions answered4Evaded / deflected11Questions auditedContradictedNumbers vs filing
Evasive
High priority
Procurement strategy for wires business, capex/opex, sales targets
Asked by Aditya Bhartya
Management declined to give revenue targets and only gave vague outsourcing strategy.
no revenue guidancedefers specifics
Read the exchange
Question
what's going to be our procurement strategy around that. Are we going to manufacture or are we going to procure it from third parties? what kind of capex and opex costs...
Promeit (Management)
this is a business that we are currently beginning on the basis of outsource product... I don't want to actually talk about what kind of revenues we expect...
Answered
High priority
Progress on solar rooftop business and revenue recognition
Asked by Aditya Bhartya
Management provided a specific revenue figure and confirmed revenue recognition.
Read the exchange
Question
Just want to understand the progress around that... have we started kind of recognizing some revenues from that?
Promeit (Management)
we have actually started recognizing revenues and we have I think order of magnitude about 18 19 crores that we booked in the solar business last quarter
Partial answer
Medium priority
Will wires business expand to cables and pan-India launch timeline
Asked by Sedhart Aira
Management gave no specific timeline for pan-India launch and was non-committal on cables.
no timeline givenvague on cables
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Question
will it be limited to wires or do you at some point also plan to enter into cables and by when should we expect full pan India sort of launch of the wires
Promeit (Management)
we are currently entering residential wires... cables will be an area that we'll potentially keep looking to evaluate... over a period of time we'll become available in India like our other products
Evasive
Medium priority
Solar pump revenues and order book details
Asked by Sedhart Aira
Management refused to disclose revenue or order book, only gave vague growth rate.
no specific numbersonly qualitative growth
Read the exchange
Question
on the pump side can you also highlight the revenues and any order book because I could not find that in the presentation
Promeit (Management)
Sedat as you know we don't disclose that specifically allow us to skip that... our solar pumps business has in the last quarter also more than doubled over year by right we doubled the revenue
Answered
Medium priority
Market share gain in water heaters in general trade
Asked by Um Meta
Management gave a clear market share position.
Read the exchange
Question
have you gained significant market share in that particular space in water heaters
Promeit (Management)
I'm now delighted to say that we are number two by market shares in GT
Evasive
Medium priority
Strategy for wires business: pricing, distribution, influencer engagement
Asked by Um Meta
Management gave generic strategic statements without concrete details.
no specifics on pricing or distribution
Read the exchange
Question
Could you share some color on strategy that you are going to deploy in terms of pricing or influencer engagement distribution
Kalesh (Management)
we announced tech with heart... we will have an engagement where we will talk about the product range... strategically we are entering because there is a right to win
Answered
Medium priority
Will induction fans phase out due to price hikes and BLC premiumization?
Asked by Anerod Jooshi
Management directly addressed the question and gave reasons why induction fans will persist.
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Question
Do you see the category of induction fan may phase out in like five six years like CRT televisions?
Promeit (Management)
I do not think that induction motors would necessarily get priced out in this market... the kind of air delivery that it can deliver cannot be met by any other technology
Partial answer
Low priority
Synergies between new categories like mobile accessories and wires
Asked by Anerod Jooshi
Management explained strategy but did not quantify synergies.
no quantitative synergy details
Read the exchange
Question
How do you see synergies between all these products?
Kalesh (Management)
we divided this into play to win and play to participate... mobile etc. is a simple play to participate category... we are the number one e-commerce player in the segments that we operate in
Answered
High priority
Will wires business invest in own manufacturing in FY27?
Asked by Manoj
Management clearly stated no significant capex in the next year.
Read the exchange
Question
with scales moving up somewhere in FY27 we plan to invest more into this business set up your own manufacturing facilities?
Promeit (Management)
we do not as of now in the next year anticipate significant capital investments in this. We will see as we go along and see as we get to scale.
Partial answer
High priority
Will industry take price hikes to offset commodity inflation and maintain margins?
Asked by Manoj
Management expressed hope but did not guarantee margin normalization.
no commitment on margin levels
Read the exchange
Question
whether industry considering the demand environment whether industry is set to take those kind of price and should we expect margins to remain at normalized levels?
Promeit (Management)
we would want to continue to take constructive pricing actions to defray cost increases... I do expect that the industry will also be equally responsible
Evasive
Medium priority
Percentage of RM covered by price hike and substitute RM details
Asked by Pravin Sahai
Management declined to give specific details on RM coverage and substitutes.
refused to disclose substitute RMno percentage coverage
Read the exchange
Question
what percentage of RM have you covered with the price hike and what kind of substitute RM are you taking to minimize the RM inflation?
Kalesh (Management)
some of these alternative items are very strategic and competitive information. So all of us not to disclose... there has been a price hike that has been taken in Jan net price increase of about say 1 to one and a half percentage.
Answered
Medium priority
Primary driver of gross margin improvement in Butterfly
Asked by Rajna Kukra
Management clearly explained the drivers: premiumization and price increases.
Read the exchange
Question
what is the primary driver of gross margin improvement in butterfly given raw material prices have remained volatile why are margins going up?
Kalesh (Management)
we did talk about our go change in go to market... premiumizing our own portfolio... we did launch our range of IDF series... price increase and other one is premiumization
Quantitative claims vs filed numbers
| Claim | Management said | Filing | Verdict |
|---|---|---|---|
| Solar rooftop revenue booked 18-19 crores last quarter | ₹19 cr | ₹1,898 cr | Understated vs filing |
| Solar pumps revenue more than doubled YoY | 100% | 7% | Overstated vs filing |
| BLC fan range grew 50%+ sequentially | 50% | 7% | Overstated vs filing |
Filed figures sourced from Screener.in. Claims within a small tolerance of the filing are marked “matches filing”.