HSBC on Crompton Cons ; Buy, TP Rs 330

2QFY27 EBITDA margin expanded by 70bp y-o-y to 9%; management said 80% of cost inflation is passed through Double-digit growth across segments; 70%+ exports growth Stock trades at a consensus 1-year forward PE of 17x, near its all-time low of 16x & vs its 32x average 1H results have been positive despite commodity headwinds If co can execute on new businesses (solar, wires, etc.) properly, think stock can rerate.

CROMPT GREA CON ELEC LTD

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