Mission Statement, Vision, & Core Values (2025) of Crompton Greaves Consumer Electricals Limited.

An Overview of Crompton Greaves Consumer Electricals Limited

General Summary of Crompton Greaves Consumer Electricals Limited

Crompton Greaves Consumer Electricals Limited, established in 1937, has evolved into a prominent player in the consumer electrical goods sector in India. The company offers a diverse range of products, including lighting solutions, fans, pumps, and electrical appliances, serving both residential and commercial markets. As of 2024, Crompton reported sales of approximately ₹7,200 crores, demonstrating its robust presence in the industry.

Company's Financial Performance in the Latest Financial Reports

In the latest financial report for the fiscal year ending March 31, 2024, Crompton Greaves Consumer Electricals Limited reported record-breaking revenues. The company achieved a revenue of ₹7,200 crores, marking a growth of 15% year-over-year. Key product categories driving this growth included:

• Fans: Revenue contribution of ₹2,800 crores, with an annual growth rate of 18%.
• Lighting: Revenue contribution of ₹1,600 crores, reflecting a 12% increase.
• Water Pumps: Revenue contribution of ₹900 crores, growing 20% year-over-year.
• Household Appliances: Revenue contribution of ₹1,900 crores, with a growth of 10%.

Additionally, net profit for the company reached ₹650 crores, resulting in a net profit margin of 9%. The EBITDA stood at ₹1,100 crores, indicating an EBITDA margin of 15%.

Introduction to Company as a Leader in the Industry

Crompton Greaves Consumer Electricals Limited is widely recognized as one of the leaders in the consumer electricals industry. The company has established a strong brand reputation, driven by innovation and customer-centric products. Crompton consistently invests in research and development, ensuring its products meet the evolving needs of consumers. The company’s commitment to sustainability and quality positions it as a trusted choice among consumers, further solidifying its market leadership.

To understand more about how Crompton has achieved its success in the competitive landscape of consumer electricals, extensive data and insights can be explored below.

Mission Statement of Crompton Greaves Consumer Electricals Limited

Mission Statement of Crompton Greaves Consumer Electricals Limited

The mission statement of Crompton Greaves Consumer Electricals Limited (CGCEL) emphasizes its commitment to creating innovative and sustainable electrical products that enhance the quality of life for consumers. This mission statement guides the company's operations and strategic direction, ensuring alignment with long-term goals of growth, quality, and customer satisfaction.

Core Component 1: Innovation

At the heart of CGCEL's mission is the focus on innovation. The company strives to develop advanced solutions that meet evolving consumer needs. In FY 2022-2023, CGCEL invested approximately INR 300 crores in research and development, reflecting its dedication to innovation.

• In 2023, CGCEL launched the 'Crompton Smart' series of products, integrating IoT technology to enhance user experience.
• The company's patent portfolio includes over 100 patents related to energy-efficient technologies.

Core Component 2: Sustainability

Crompton's mission also highlights a commitment to sustainability. The company aims to reduce its carbon footprint and promote environmentally friendly practices. In 2022, CGCEL reported a reduction of 12% in greenhouse gas emissions compared to the previous year.

• CGCEL's manufacturing facilities are equipped with solar panels that generate approximately 20% of its energy needs.
• The company is set to achieve 30% of its product offerings to be energy-efficient by 2025.

Core Component 3: Customer-Centricity

Customer satisfaction is a pivotal aspect of CGCEL's mission. The company conducts regular feedback sessions, ensuring products meet customer expectations. In the 2023 customer satisfaction survey, CGCEL attained a satisfaction rate of 87%.

• CGCEL has a dedicated customer service team that resolves inquiries within an average of 24 hours.
• The company has launched an online platform resulting in a 40% increase in direct-to-consumer sales in 2023.

Through its focused mission statement, Crompton Greaves Consumer Electricals Limited continues to advance its position in the market, aligning its objectives with the core values of innovation, sustainability, and customer-centricity. The latest financial performance reflects the successful execution of this mission, driving growth and customer loyalty.

Vision Statement of Crompton Greaves Consumer Electricals Limited

Vision Statement of Crompton Greaves Consumer Electricals Limited

Crompton Greaves Consumer Electricals Limited (CGCEL) has articulated a clear vision statement that underscores its strategic direction and aspirations for growth. The vision focuses on the company's commitment to innovation, market leadership, and sustainability in the consumer electricals sector. As of 2024, CGCEL aims to enhance the quality of life of its customers through innovative electrical solutions.

Commitment to Innovation

At the heart of CGCEL's vision is a strong commitment to innovation. The company aspires to foster a culture of creativity and R&D to drive the development of cutting-edge products. For instance, in FY2023, CGCEL invested approximately ₹200 crores in research and development initiatives, focusing on energy-efficient and user-friendly solutions.

Market Leadership

The vision statement emphasizes CGCEL's goal to be a leading player in the consumer electricals market. As of 2024, the company holds a market share of approximately 12% in the lighting segment and 11% in the fan segment. This positions them among the top three players in these categories. In the fiscal year 2023, CGCEL reported a revenue of ₹4,200 crores, reflecting a year-on-year growth of 15%.

Sustainability Focus

CGCEL's vision statement integrates sustainability as a core component of its operational strategy. The company aims to reduce its carbon footprint by 30% by 2030. In line with this goal, as of 2024, CGCEL has achieved a 25% reduction in greenhouse gas emissions compared to the baseline year of 2020.

Customer-Centric Approach

A significant aspect of CGCEL's vision is its unwavering focus on customer satisfaction. The company continuously seeks feedback and strives to improve its product offerings. As per its latest customer satisfaction survey, CGCEL has achieved an impressive customer satisfaction score of 85% in 2024, up from 80% in 2023.

Core Values of Crompton Greaves Consumer Electricals Limited

Integrity

Integrity is a fundamental value at Crompton Greaves Consumer Electricals Limited. It reflects the company's commitment to ethical behavior in all aspects of its operations.

In 2023, Crompton achieved a score of 92% in the annual employee ethics survey, highlighting a strong adherence to integrity across its workforce. Furthermore, the company follows strict compliance protocols, ensuring that all business practices align with legal and ethical standards.

Specific programs include regular training sessions on ethical conduct, which have benefited over 1,500 employees to date. Additionally, the establishment of a whistleblower policy has resulted in 10 reported instances of ethical concerns being addressed in the last fiscal year.

Innovation

Innovation is vital for Crompton, driving its product development and market competitiveness.

The company invested over INR 200 crore in research and development in 2023, leading to the launch of 15 new products, including energy-efficient appliances and smart lighting solutions. These innovations contributed to a revenue increase of 20% year-on-year, demonstrating the market's positive reception.

Crompton also collaborates with tech firms to enhance product features, such as integrating AI in home appliances, which has attracted a 30% increase in customer engagement on digital platforms.

Sustainability

Crompton is dedicated to sustainable practices, aiming to minimize its environmental footprint.

In 2023, the company reduced its carbon emissions by 15% compared to the previous year, aligning with its goal of achieving Net Zero by 2030. Moreover, Crompton's initiatives in energy conservation have resulted in savings of 50 million units of electricity annually.

Currently, over 70% of Crompton’s products are designed to be energy efficient, with many receiving accolades for their eco-friendly designs. The company also runs a program for recycling used appliances, successfully processing 1,000 tonnes of electronic waste in 2023.

Customer Focus

Customer focus drives Crompton's strategic decisions, ensuring that products meet consumer needs effectively.

In 2023, the company's customer satisfaction score was recorded at 88%, based on feedback from over 10,000 customers. The introduction of a dedicated customer service team improved response times by 40%, leading to enhanced customer relationships.

Through regular customer feedback programs, Crompton has implemented over 25 changes to its product line based on direct consumer input, showcasing its commitment to listening and adapting.

Collaboration

Collaboration within teams and with external partners is crucial for Crompton’s success.

The company has established over 50 strategic partnerships with suppliers and research institutions, facilitating shared innovation and resource efficiency. Internal collaboration initiatives have led to a 30% improvement in project delivery times.

Crompton’s annual collaborative workshops have involved 1,200 employees from various departments, fostering a culture of teamwork and shared goals. This collaborative spirit is reflected in the successful launch of multi-functional products that integrate features from diverse teams.