Crompton Greaves Faces Significant Loss Following Investment Impairment

Crompton Greaves Consumer Electricals Ltd announced a consolidated net loss of Rs 531.07 crore for the March quarter, severely impacted by a significant impairment in its investment in subsidiary Butterfly Gandhimathi Appliances Ltd. This marks a stark contrast to the Rs 171.74 crore profit reported during the same period last year.

According to the regulatory filing, the company faced an impairment charge of Rs 716.04 crore related to Butterfly and associated trademarks acquired in March 2022, resulting in reduced goodwill and intangible asset valuation. Revenue for the quarter was Rs 2,283.27 crore, up from Rs 2,060.82 crore a year prior.

Total expenses rose to Rs 2,066.63 crore compared to Rs 1,845.77 crore the previous year. For FY26, Crompton declared a consolidated net loss of Rs 230.76 crore, a sharp decline from the Rs 564.08 crore net profit in FY25. Despite the downturn, a Rs 3 dividend per equity share was recommended.

(With inputs from agencies.)