Crompton Greaves Consumer Electricals Ltd Share Price

History of Crompton Greaves Consumer Electricals Ltd

Crompton Greaves Consumer Electricals Limited (CGCEL) is amongst India's leading consumer electrical companies present in the Electrical Consumer Durables (ECD) and Lighting segments. It manufactures and distributes a diverse range of consumer products ranging from fans, lamps and luminaries to pumps and household appliances such as water heaters, mixer grinders, toasters, irons and electric lanterns in the ECD segment and a complete range of Lighting products. It is a market leader in fans, domestic pumps, and street lighting segments. It has manufacturing locations at Goa, Vadodara, Ahmednagar and Baddi. Crompton Greaves Consumer Electricals Limited (CGCEL) was formed followed by the demerger of Consumer Electricals Business of Crompton Greaves. The consumer products business demerge ...d from Crompton Greaves into a separate company known as Crompton Greaves Consumer Electricals Limited (CGCEL). CGCEL was incorporated as a Public Limited Company on February 25, 2015. Crompton Greaves Consumer Electricals Limited (CGCEL) was listed on bourses on 13 May 2016, which completed demerger process of Consumer Electricals Business of Crompton Greaves. On 24 October 2016, Crompton Greaves Consumer Electricals (CGCEL) announced the launch of India's first anti dust ceiling fans. Crompton's anti dust ceiling fans range attracts 50% less dust compared to any regular fan. It includes the use of a nanotechnology based paint which has hydrophobic and oleophobic properties that reduces the incidence of dust and grime on the fan. Also during the month, CGCEL introduced low-cost LED lighting. On 1 December 2016, Crompton Greaves Consumer Electricals (CGCEL) announced that it has teamed up with Gooee, the UK based creator of the world's first full-stack operating platform connecting lighting manufacturers and their customers to the IoT (Internet Of Things). Under the terms of the agreement, Crompton will become Gooee's launch partner in India and will be able to use Gooee's innovative new lighting ecosystem to provide additional functionality and value to customer lighting and IoT solutions. With this partnership Crompton unleashes its plan to foray into the world of IoT and connected lighting in big way. All the Gooee features and scalability combined with Crompton's design and execution capability will bring wonderful products and solutions to its customers with exciting features. In September 2017, CGCEL became No. 2 lighting company in India. On 6 November 2017, CGCEL informed stock exchanges that the bid made by the company for the acquisition of the Kenstar Business and Kenstar Brand has expired and the company has not extended the validity of the bid. Earlier, on 6 October 2017, CGCEL had informed the stock exchanges that the company has submitted a bid on 20 September 2017 as an Expression of Interest (EOI) for the acquisition of Kenstar Business and Kenstar Brand. The submission of EOI was in response to the invitation received by the company from Videocon Industries and their affiliates (sellers) vide bid invitation letter dated 6 September 2017 to participate in the bid process. The Company incorporated 2 wholly owned subsidiaries, namely Pinnacles Lighting Project Pvt. Ltd. and Nexustar Lighting Project Pvt. Ltd on 31 December 2018 and 02 January 2019 respectively, for implementation of Greenfield Street Lighting Project in Odisha. During 2022, the Company launched new products such as Classic 6L, Arno Supremus, Versa, Rapid Jet Plus, Solarium Qube, Evo, Qube Plus, Gracee. It launched newer variants of Cool Breeze, Jedi Personal, and Zelus Desert coolers. It launched Diva with Motor Vent-X technology for enhanced air circulation with Powertron Motor and Gleamer with MaxiGrind technology for finer grinding results with overload protector in mixer grinders. During 2022, the Company launched Star Lord 3-in-1, Star Miranda, Star Stylus, and Star Cosmos in ceiling lights segment. Laser Ray Neo, Light Linea Pro, Immensa Smart Batten are the launches in the batten category. The new LED light launches include Backup Lamps, Deco Auto Color, Deco Socket, Decoray, Colormatic, etc. A Share Purchase Agreement (SPA) was executed between the Company, Butterfly Gandhimathi Appliances Limited (BGMAL) and certain members of the Promoter and Promoter Group of BGMAL on 22nd February, 2022. Pursuant to the aforesaid SPA, Company acquired 55% stake in the leading South India-based kitchen appliances Company, Butterfly Gandhimathi Appliances Limited through the stock exchange settlement process which was completed on 25th March, 2022. The Company commenced the Open Offer process which took its total holding to 81% and consequently, BGMAL became a subsidiary of the Company on 30th March, 2022. During the year 2021-22, on 9th June, 2021, Amalfiaco Limited, Promoter of the Company sold their entire shareholding through Stock Exchange Settlement Process and Nirsinia Limited (Member of Promoter Group) sold their entire shareholding on 30th September, 2021. Pursuant to the same, they ceased to be Promoters / Members of the Promoter Group of the Company. During 2022-23, the Company launched new range of aesthetic ceiling fans. The Company launched agricultural pumps like 2HP Centrifugal Monoblock; Janata Submersible Pumps (Ultima Series); 1.5HP Centrifugal Monoblock (Magna Series); Openwell Agro Pump (Ultima Series). It introduced flagship products with brushless direct current (BLDC) technology with IOT integration. It launched new range of aesthetic ceiling fans like Montania, Versa and Groove. In the appliance segment, it launched multiple-mode water heaters, oven toaster grills (OTG), digital air fryers, 800 W mixer grinders, copper motor mixer grinders and sound comfort air coolers. It launched the Questa Royale and Questa DLX, with a powerful copper motor of 750W and 500W, respectively, offering enhanced performance and durability. Furthermore, Crompton enhanced the 500W category with the launch of Nigella. New product launches in storage water heaters included Amica Plus (10L/15L/25L), Amica Classic (15l/25L), In storage water heaters, it launched Solarium Care (10L/15L/25L) and Solarium Qube IOT (15L & 25L). New product launches in instant water heaters were Instabliss, Gracee 5L, Juno 5L and Hydrajet. In the Air Cooler segment, it launched Ozone Royal 55L/75L/88L, Ozone Classic 55L Wood Wool, Ozone Classic 55L Honeycomb, Zelus Royal 43L and Optimus 125L. In Mixer Grinders category, it launched Questa Royale and Nigella. In Room heaters, it launched Comfy Plus Quartz room heater and the Insta Flare. It introduced Table Lamps, Range of Ceiling Lights, Trio Batten, Range of Rope Lights, Smart Ceiling Lights and NightBuddy into the Consumer Lighting segment. In June 2023, the Company launched 'Crompton 2.0', a renewed focus on top-line growth and operational efficiency. New products launched included Air Coolers, Water Heaters, Room Heaters, agricultural solar pumps of capacity up to 10HP for irrigation systems. Also , the Company expanded traditional pumps by launching Monoblock, Open well, and Borewell agricultural pumps with advanced durability features, introduced Anti-Rust CED Coating and the capability to handle fibrous solids, with a float switch for use. Further, launched an industry-first in BLDC fan technology with the Groove Regmote. The lighting R&D team introduced numerous products in the B2C lighting segment, including the industry-first flagship Trio Series comprising lamps, battens and downlights. Additionally, B2B segment has been fortified with the launch of street and floodlight platforms during the year 2023-24. In FY25, India's first 5-star induction ceiling fan, called HS Duro, was launched which consumes only 36W power. The Company also introduced India's first 3-star induction fan, named Avancer Swirl. It introduced Nucleoid and Niteo, both consuming 30W power. SilentPro Fluido has been launched, offering a sleek and modern design in plastic fans. It introduced Superflo, which features Turbo Boost airflow technology which enhances the air delivery and performance of metal blade fans.