Crompton Greaves Consumer Electricals
Crompton Greaves Consumer Electricals Limited, d/b/a 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.
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. 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. 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. 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.Crompton's operation is divided into two segments: one is Electrical consumer durables 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.
As of September 2020, the company has manufacturing facilities at Goa, Vadodara, Ahmednagar and Baddi. And one R&D centre at Vikhroli, in the suburb of Mumbai.
In March 2023, Crompton Greaves Consumer Electricals announced merger with home appliances firm Butterfly Gandhimathi. The deal provided the public shareholders of Butterfly 22 equity shares of Crompton for every five shares held by them in Butterfly. The public shareholders of Butterfly got a 3 percent stake in the combined entity after this merger.