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Crompton Greaves in pain as Butterfly still to spread its wings
Mint Mumbai
|February 20, 2024
Crompton Greaves Consumer Electricals Ltd is facing challenges with the acquired portfolio, Butterfly Gandhimathi Appliances Ltd.
Contrary to initial expectations, the Butterfly acquisition is unlikely to boost earnings per share in FY24. As of now, Butterfly remains a work in progress. Well established in southern India, efforts are underway to expand its presence nationwide. Additionally, there are plans to leverage Butterfly's manufacturing facilities for Crompton's products, such as mixers, which are currently produced by external suppliers.
This story is from the February 20, 2024 edition of Mint Mumbai.
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