Transcript of earnings call

Date: October 24, 2026 To, To, BSE Limited (“BSE”), National Stock Exchange of India Limited Corporate Relationship Department, (“NSE”), 2nd Floor, New Trading Ring, “Exchange Plaza”, 5th Floor, P.J. Towers, Dalal Street, Plot No. C/1, G Block, Mumbai – 400 001. Bandra- Kurla Complex Bandra (East), Mumbai – 400 051. BSE Scrip Code: 539876 NSE Symbol: CROMPTON ISIN: INE299U01018 ISIN: INE299U01018 Our Reference: 109/2026-27 Our Reference: 109/2026-27 Dear Sir/Madam, Sub: Disclosure under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015) – Transcript of Earnings Call With reference to our earlier intimations dated October 08, 2026 and October 16, 2026, regarding the Earnings Call on the Unaudited Financial Results for the quarter and half year ended September 30, 2026, held on October 16, 2026, please find enclosed herewith the transcript of the same. You are requested to take the above information on your record. Thanking you, For Crompton Greaves Consumer Electricals Limited Kaleeswaran Arunachalam Chief Financial Officer Encl: A/a “Crompton Greaves Consumer Electricals Limited Q2 FY27 Earnings Conference Call” October 16, 2026 MANAGEMENT: MR. PROMEET GHOSH - MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER MR. KALEESWARAN ARUNACHALAM - CHIEF FINANCIAL OFFICER MR. SACHIN PHARTIYAL, BUSINESS HEAD - HOME ELECTRICALS MR. SHALEEN NAYAK, BUSINESS HEAD - LIGHTING, SOLAR ROOFTOPS AND WIRES MR. ANAND KUMAR, BUSINESS HEAD - PUMPS AND KITCHEN APPLIANCES. MR. RAJAT CHOPRA, HEAD - GLOBAL SALES AND SERVICE MS. SWETHA SAGAR - CHIEF BUSINESS OFFICER, BUTTERFLY GANDHIMATHI APPLIANCES MR. RUCHIR JAIN, HEAD - INVESTOR RELATIONS, CORPORATE STRATEGY, FP&A MODERATOR: MR. DHRUV JAIN – AMBIT CAPITAL MS. MARGARET MISHRA – AMBIT CAPITAL Page 1 of 16 Public Crompton Greaves Consumer Electricals Limited. October 16, 2026 Dhruv Jain: Hi. Good evening, everyone. Welcome to the Q2 FY27 earnings call of Crompton Greaves Consumer Electricals Limited, hosted by Ambit Capital. Before we start, Crompton would like to point out that some of the statements made in today's call may be forward-looking in nature, and a disclaimer to that effect has been included in the earnings presentation shared with you earlier. Kindly note that this call is meant for investors and analysts only. If there are representatives from the media, they are requested to kindly drop off this call immediately. Today, from the management side, we have with us Mr. Promeet Ghosh, Managing Director and Chief Executive Officer, Mr. Kaleeswaran Arunachalam, Chief Financial Officer, Mr. Sachin Phartiyal, Business Head, Home Electricals, Mr. Shaleen Nayak, Business Head, Lighting, Solar Rooftop and Wires, Mr. Anand Kumar, Business Head, Pumps and Kitchen Appliances, Mr. Rajat Chopra, Global Sales and Service Head, Ms. Shwetha Sagar, Chief Business Officer, Butterfly Gandhimathi, and Mr. Ruchir Jain, Head Investor Relations and Corporate Strategy. As a reminder, all participants' lines will be in the listen-only mode and participants can use the raise hand feature to ask any questions post the opening remarks. Now, I invite Mr. Promeet Ghosh to take us through the key highlights of the quarter, post which we will open for Q&A. Thank you and over to you, Mr. Ghosh. Promeet Ghosh: Thank you, everyone. Thank you, Dhruv. And good evening, everyone. Welcome to the Crompton Greaves Q2 FY27 earnings call. We've also already uploaded the investor deck, so you would have had some detailed understanding of what we are doing. But nevertheless, I'll try and give you more colour as a part of this call. Also, thank you to the team at Ambit for hosting this call. My team here is joining me. Their names have already been introduced by Dhruv, so I'm not going to do it again. I'm very happy to share that Crompton's momentum of strong revenue growth and profit growth continues to strengthen. This is the third quarter of double-digit revenue growth and is accompanied by excellent profit growth. This progress has been driven by sustained brand building, relentless focus on innovation and excellence in execution. As a reflection of this transformation, in August 2026, we launched Crompton's refreshed brand identity featuring a new monogram, Cephyr, with a new tag and a distinctive sonic identity. Underpinning this evolution is our innovation agenda anchored in three strategic vectors: design- led innovation, technology forward and smart & connected. By combining these three vectors across business units, we are continually developing and delivering industry-first products that translate into patents, awards, and most importantly, differentiated customer value. Now, coming to execution, to begin with, and this might be something that may be at the back of your minds, the supply chain disruptions which impacted us in Q1FY27 are behind us now. We have appropriately stepped-up inventory levels. Days of inventory which were low going into Q1FY27, as you will recall, have now normalized to similar levels as they were one year ago. Moving to our quarterly performance, the benefits of our efforts in repositioning the business are clearly visible. Crompton delivered robust double- Page 2 of 16 Public Crompton Greaves Consumer Electricals Limited. October 16, 2026 digit growth across all our business segments in Q2 FY27, driven by sharp and focused execution and meaningfully differentiated product launches, some of which, you can see in the investor deck. Amidst a challenging macro environment, our consolidated Q2 FY27 performance firmly validates the trajectory that we are on. Revenue grew by an impressive 18.2% YoY to Rs.2,263 Crores. EBITDA delivered Rs.205 Crores, surging 24.1% YoY, with margins expanding 40 basis points to 9% compared to a year ago. Operating leverage and Unnati programme drove the bottom-line growth in a tough macroeconomic environment with respect to commodities. PBT excluding exceptional items, grew by 36.2%. We had an exceptional item of Rs.20 Crores, as some of you will recall, in Q2 FY26, which was towards Baroda plant restructuring. This led to PAT growing at 65% ahead of PBT. PAT margins expanded by 160 basis points. This is not strictly comparable. The PBT number excluding exceptional is what is comparable. While we are very optimistic about our structural growth, we of course remain vigilant regarding macroeconomic headwinds. The industry is currently facing commodity cost pressures and unpredictable geopolitical developments. We have and are continuing to address these through disciplined combination of strategic price increases, consistent execution of Unnati cost savings and these are accompanying the benefits of operating leverage, which are showing in our business. As far as overall channel performance is concerned, general trade and rural trade, which are areas of particular strength of Crompton, both delivered double digit growth. E-commerce, however, was subdued on the back of efforts to reposition our go-to market in the e-commerce channel to improve channel profitability. You may recall that a similar exercise had been undertaken in Butterfly some quarters ago and is helping us handsomely in that business today. Now, coming to segment level performance. Our category leadership continues to be across our portfolio. In ECD, we delivered stellar 19.4% YoY growth with EBIT margins improving YoY to 11.6%. This is 30.7% growth over the previous year. Fans delivered double digit growth this quarter. Our BLDC fans continued the strong momentum, especially in general trade, with the growth of 40% aided by focused portfolio interventions and improved reach. Pumps - Our conventional pumps business, which includes residential, Agri and specialty pumps, delivered double digit growth. Solar pumps witnessed a slowdown as order inflow from Kusum 1.1, which is nearing completion, tapered. We are aware that this will pick up in the next quarter with GOI having announced Kusum 2.0. We expect the business [Showing first 8,000 characters — download PDF for full document]