External broker reports(aggregated public sources), ICICI Securities Ltd

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External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Crompton Greaves Consumer Electricals / Equity Bottom-Up

Crompton Greaves Consumer Electricals (CROMPTON IN)

<ul><li>The acquisition values Butterfly at MCap/sales of 2.3x on annualized FY22E sales (TTK FY22E Mcap/Sales: 4.2x).</li><li>The acquisition will help Crompton to have stronger connect in south India, expand distribution network, will offer better right-to-win in kitchen appliances and reduce over dependence on Crompton brand.</li><li>.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

The acquisition values Butterfly at MCap/sales of 2.3x on annualized FY22E sales (TTK FY22E Mcap/Sales: 4.2x).The acquisition will help Crompton to have stronger connect in south India, expand distribution network, will offer better right-to-win in kitchen appliances and reduce over dependence on Crompton brand..Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Butterfly acquisition likely to be earnings accretive in FY24 assuming 5% synergy benefits