Crompton targets double-digit market share for agri pumps by end of this year

Kaleeswaran Arunachalam, Chief Financial Officer of Crompton, outlined the company’s strategy to significantly increase its market share in the agricultural segment.

“We want our agri business market share also to go up significantly and move towards the residential market share. Step one towards that is getting into a double-digit market share, which we are looking at somewhere late this year or early next year.”

The lighting and consumer electrical products major also expects the solar business to gather pace with solar-powered pumps gradually replacing traditional ones, driven by government energy initiatives.

“With the launch of the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM-KUSUM) scheme, which had an initial outlay of ₹36,000 crore, Crompton has made significant progress in this space," he said.

The company is on track to execute an order book nearing ₹100 crore and is actively pursuing additional orders to further strengthen its position in the solar market for the remainder of the year.



In the appliances segment, which includes both large and small domestic appliances, the company has maintained a consistent growth rate of about 20%.

Arunachalam said the kitchen portfolio, the company’s largest segment, has a market valued at around ₹35,000 crore. Crompton aims to capture a 10% share of this market over the long term.

It is also look at entering a couple of new categories in the near future and that should also help the company double the revenue over the next five years.

Crompton Greaves Consumer Electricals posted a revenue of ₹1,896 crore in July-September 2024, with an operating margin of 10.7%, and a profit after tax of ₹128 crore.



The company, which has a market capitalisation of ₹24,748 crore, has seen its shares rise 33% over the last year.