Crompton Greaves Consumer Electricals Limited (also known as Crompton) is an Indian

electrical equipment Electrical devices or electric devices are devices that functionally rely on electric energy ( AC or DC) to operate their core parts (electric motors, transformers, lighting, rechargeable batteries, control electronics). They can be contraste ...

company based in

Mumbai Mumbai ( ; ), also known as Bombay ( ; its official name until 1995), is the capital city of the Indian state of Maharashtra. Mumbai is the financial capital and the most populous city proper of India with an estimated population of 12 ...

India India, officially the Republic of India, is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area; the List of countries by population (United Nations), most populous country since ...

. The company has lighting and electrical consumer durables including LED lighting, fans, pumps, and household appliances like water heaters, air coolers, and kitchen appliances. As of February 2022, the company is indexed with

S&P Global S&P Global Inc. (prior to 2016, McGraw Hill Financial, Inc., and prior to 2013, The McGraw–Hill Companies, Inc.) is an American publicly traded corporation headquartered in Manhattan, New York City. Its primary areas of business are financia ...

BSE Consumer Durables Index.

History

The company was established in 1937 as Crompton Parkinson Works Limited, a wholly-owned subsidiary of

Crompton Parkinson Crompton Parkinson was a British electrical manufacturing company. It was formed in 1927 by the merger of Crompton & Co. with F. & A. Parkinson Ltd. The brand is now part of Brook Crompton. History Crompton & Co. was a lamp manufacturer foun ...

. In 1947, it was acquired by

Karam Chand Thapar Karam Chand Thapar (1900–1962) was the founder of the Thapar Group of companies. He was originally from Punjab. He started his career in 1920 as a coal trader in Calcutta, and built up the family fortune through Karam Chand Thapar and Bros. ...

. 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 CG Power and Industrial Solutions Limited, also known as Crompton Greaves Limited, is an Indian multinational company engaged in design, manufacturing, and marketing of products related to power generation, transmission, and distribution & R ...

and Crompton Greaves Consumer Electricals Limited. At the time of demerger,

Gautam Thapar Gautam Thapar (born 7 December 1960) is an Indian businessman who is the chairman of Avantha Group and a member of the Thapar family. Thapar was noted as an industrialist; however, in 2019, he faced allegations of financial fraud which negati ...

, the former chairman of combined Crompton Greaves Limited, sold his 34% stake in CGCEL to

Advent International Advent International Corporation is an American global private equity firm. It is focused on buyouts of companies in Western and Central Europe, North America, Latin America and Asia. The firm focuses on international buyouts, growth and strat ...

and

Temasek Holdings Temasek Holdings (Private) Limited ( ) is a Singaporean State ownership, state-owned multinational investment firm. Incorporated on 25 June 1974, Temasek has a net portfolio of US$288 billion (S$389 billion) as of 2024. Headquartered at Orchard ...

for ₹2000 crore. Crompton's operation is divided into two segments: one is Electrical consumer durables (ECD) 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 Goa (; ; ) is a state on the southwestern coast of India within the Konkan region, geographically separated from the Deccan highlands by the Western Ghats. It is bound by the Indian states of Maharashtra to the north, and Karnataka to the ...

Vadodara Vadodara (), also known as Baroda, is a city situated on the banks of the Vishwamitri River in the Indian state of Gujarat. It serves as the administrative headquarters of the Vadodara district. The city is named for its abundance of banyan ...

Ahmednagar Ahmednagar, officially Ahilyanagar, is a city in, and the headquarters of, the Ahmednagar district, Maharashtra, India. Ahmednagar has several dozen buildings and sites from the Nizam Shahi period. Ahmednagar Fort, once considered almost impre ...

and

Baddi Baddi is an industrial town and Nagar parishad, near Solan City in the southwestern Solan district of Himachal Pradesh, India. The town lies on the border of Himachal Pradesh, Punjab and Haryana states in the Shivalik Hills, around 35 kilometre ...

. And one R&D centre at

Vikhroli Vikhroli (Marathi pronunciation: �ikʰɾoɭiː is a suburb of Mumbai located on the northeastern side of the city. The suburb has a railway station by the name Vikhroli on the Central Railway line. Manufacturing plants of Godrej are also si ...

, in the suburb of Mumbai.

Controversies

In November 2017,

Reuters Reuters ( ) is a news agency owned by Thomson Reuters. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide writing in 16 languages. Reuters is one of the largest news agencies in the world. The agency ...

reported instances of "prescient messages" regarding the performance of 12 Indian companies in

WhatsApp WhatsApp (officially WhatsApp Messenger) is an American social media, instant messaging (IM), and voice-over-IP (VoIP) service owned by technology conglomerate Meta. It allows users to send text, voice messages and video messages, make vo ...

groups and it included Crompton. The information contained upcoming quarterly results, including specific metrics such as net profits, revenues, and operating margins. At that time, the matter was investigated by India's

Securities and Exchange Board of India The Securities and Exchange Board of India (SEBI) is the Regulatory agency, regulatory body for securities and commodity market in India under the administrative domain of Ministry of Finance (India), Ministry of Finance within the Government ...

for

insider trading Insider trading is the trading of a public company's stock or other securities (such as bonds or stock options) based on material, nonpublic information about the company. In various countries, some kinds of trading based on insider informati ...

by brokers. Later, in 2021, the Securities Appellate Tribunal (SAT) set aside the SEBI's order because the latter was failed to prove insider trading connection among and between the brokers.

References

{{reflist Companies listed on the National Stock Exchange of India Companies listed on the Bombay Stock Exchange Indian companies established in 1937 Indian companies established in 2016 Electronics companies of India Consumer electronics brands Home appliance manufacturers of India Electronics companies established in 2016 2016 establishments in Maharashtra