ICICI Securities cuts target for Crompton Greaves Consumer Electricals stock to INR 270

Published on 10/20/2026 at 02:52 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

ICICI Securities cut its target to INR 270 on October 17, 2026. Q2 revenue rose 18.20 percent for Crompton Greaves Consumer Electricals stock.

Growth and target revisions

ICICI Securities revised its target from INR 315 to INR 270 on October 17, 2026.
Second-quarter fiscal 2027 revenue reached INR 22,633 million, up 18.20 percent year over year.
Operating margin reached 9.00 percent in the second quarter of fiscal 2027.

Crompton, INE066F01012, Illustration mit AI erstellt.

Crompton Greaves Consumer Electricals (INE066F01012) drew a lower analyst target after its second-quarter fiscal 2027 update. Moneycontrol reported that ICICI Securities cut its target from INR 315 to INR 270 in a research report dated October 17, 2026. The brokerage kept its Buy rating.

The operating picture was stronger than the target revision suggests. Crompton reported second-quarter fiscal 2027 revenue of INR 22,633 million, up 18.20 percent from a year earlier, according to DSIJ.

What matters for margins?

Crompton's earnings growth came with a mixed margin picture. Second-quarter fiscal 2027 EBITDA reached INR 2,046 million, while the operating margin was 9.00 percent. The DSIJ report said the margin expanded 70 basis points year over year, but gross margin fell 180 basis points to 29.80 percent as input costs remained a central issue.

The business mix provided support. Electric consumer durables revenue rose 19.20 percent to INR 16,345 million, while lighting revenue increased 14.30 percent to INR 2,983 million. Lighting EBIT margin fell 260 basis points to 12.90 percent because of lower-priced orders, according to DSIJ.

Analysts weigh growth risks

Target revisions diverged after the results. Moneycontrol reported on October 19, 2026 that Nomura maintained its Buy rating while cutting its target to INR 292 from an earlier level. The brokerage cited near-term earnings risks from higher commodity costs.

By contrast, Moneycontrol reported that Motilal Oswal retained a target of INR 300 in its October 16, 2026 report. The competing views put the focus on whether revenue momentum can translate into sustained margin recovery.

Growth remains the central measure

Crompton's official website describes the group as a provider of lighting and electrical consumer durables, with products including fans, water heaters, kitchen appliances, solar rooftop systems and wires. The combination of 18.20 percent quarterly revenue growth and a 9.00 percent operating margin leaves execution and cost recovery as the key measures for the next update.