Crompton Greaves Consumer Electricals Limited, doing business as Crompton, is an Indian electrical equipment company based in Mumbai. The company has lighting and electrical consumer durables including LED lighting, fans, pumps, and household appliances like water heaters, air coolers, and kitchen appliances.[1][2]
History
The company was established in 1937 as Crompton Parkinson Works Limited, a wholly owned subsidiary of Crompton Parkinson. In 1947, it was acquired by Karam Chand Thapar.[3][4] The company was established in 2016 as an outcome of the demerger of Crompton Greaves Limited which separated the latter's consumer goods business from the power and industrial systems segment.[5] The demerger plan was announced in July 2014 and it was completed in 2016 with the creation of CG Power and Industrial Solutions and Crompton Greaves Consumer Electricals Limited.[6][7] At the time of demerger, Gautam Thapar, the former chairman of combined Crompton Greaves Limited, sold his 34% stake in CGCEL to Advent International and Temasek Holdings for ₹2000 crore.[8]
Crompton's operation is divided into two segments: one is Electrical consumer durables (ECD) which include fans, appliances, and pumps. The other one is Lightings which includes LED and Non-LEDs products. Under the ECD, the company holds 26% market share in fans business.[9][10]
As of September 2020, the company has manufacturing facilities at Goa, Vadodara, Ahmednagar and Baddi.[3] And one R&D centre at Vikhroli, in the suburb of Mumbai.[11][12]
In February 2022, Crompton acquired a 55% controlling stake in home appliances firm Butterfly Gandhimathi for Template:INRconvert and an additional 26% through an open offer for Template:INRconvert.[13] In March 2023, Crompton announced a stock swap merger with Butterfly Gandhimathi,[14] but the proposed merger failed after public shareholders voted against it in October 2023.[15]
Controversies
In November 2017, Reuters reported instances of "prescient messages" regarding the performance of 12 Indian companies in WhatsApp groups and it included Crompton.[16] The information contained upcoming quarterly results, including specific metrics such as net profits, revenues, and operating margins.[17] At that time, the matter was investigated by India's Securities and Exchange Board of India for insider trading by brokers.[18] Later, in 2021, the Securities Appellate Tribunal (SAT) set aside the SEBI's order because the latter was failed to prove insider trading connection among and between the brokers.[18]
References
- ↑ Crompton Greaves Consumer Electricals has been doing well but there is a tightrope walk ahead, Debangana, Ghosh. Outlook Business(2020-09-05). Retrieved 2022-03-07.
- ↑ Crompton Greaves Consumer Electricals Ltd: Q2FY17 Result Update, Praveen, Sahay. Edelweiss. Retrieved 2022-03-07.
- ↑ 3.0 3.1 Initiating Coverage Crompton Greaves Consumer Electricals Limited, Zaveri, Jimit. HDFC securities(2020-09-30). Retrieved 2022-03-07.
- ↑ Template:Cite thesis
- ↑ Template:Cite SSRN
- ↑ AN ANALYSIS OF THE PERFORMANCE OF NIFTY INFRASTRUCTURE INDEX STOCKS, Jayaprakash, Rinu. Journal of Arts, Science & Commerce(October 2017). Retrieved 2022-03-07.
- ↑ Crompton: Innovation in Anti-Dust Fans. IIM Calcutta Case Research Center({Template:Date).
- ↑ Crompton Greaves Consumer Electricals lists on bourses today, shares up, Oberoi, Rahul. The Financial Express(2016-05-13). Retrieved 2022-03-07.
- ↑ INSTITUTIONAL EQUITY RESEARCH Crompton Greaves Consumer Electricals Ltd Higher focus on market share, Agarwal, Deepak. PhillipCapital(2020-12-25). Retrieved 2022-03-07.
- ↑ JM Financial's Report on Crompton Greaves Consumer Electricals Limited. JM Financials(2019-04-01). Retrieved 2022-03-07.
- ↑ Crompton Greaves Consumer Electricals sets up its largest R&D facility in Mumbai. www.thehindubusinessline.com(December 2021). Retrieved 2022-03-07.
- ↑ Consumer electricals firm Crompton bets big on its R&D. The Week. Retrieved 2022-03-07.
- ↑ Crompton Greaves to acquire 55% stake in Butterfly Gandhimathi Appliances. The Times of India(24 February 2022).
- ↑ https://www.moneycontrol.com/news/business/stocks/crompton-butterfly-gandhimathi-to-merge-expect-nclt-approval-by-q4-fy24-10312081.html Template:Bare URL inline
- ↑ Butterfly's merger with parent Crompton Greaves fails to gain nod | Company Business News. mint(1 November 2023). Retrieved 11 April 2026.
- ↑ Exclusive: Prescient messages about Indian companies circulate in WhatsApp groups. Reuters(2017-11-16). Retrieved 2022-03-07.
- ↑ India's Insider Trading Regime: How Connected Are You?. New York University Journal of Law & Business({Template:Date).
- ↑ 18.0 18.1 WhatsApp leak case: SAT sets aside SEBI order, SHAH, PALAK. www.thehindubusinessline.com(25 March 2021). Retrieved 2022-03-07.