Crompton Greaves Consumer Electricals shares rose over 4% on Thursday, touching a day high of Rs 255.25 after unveiling its FY29-31 targets.

Here’s what the company actually said. Crompton expects revenue to grow at a compounded annual rate of 13 to 14% through FY29, and wants to double its overall revenue by FY31.

Profit growth is expected to outpace revenue growth over this period, which usually means better margins along the way.

Speaking of which, the company’s EBITDA margin, currently sitting around 10%, is targeted to reach 11 to 12% by FY29 and cross 12% by FY31.

A big part of this push comes from smart and connected products, the kind of gadgets that link up with an app or the internet, which management wants to grow from a small slice of the business today to roughly 20% of overall revenue by FY31.

This isn’t happening in isolation either. Just two days before this announcement, Crompton refreshed its brand identity and launched a new premium brand called Crompton Rhion, aimed squarely at the higher end of the market.

The company has also been expanding into newer areas like solar rooftops, water pumps, wires and water purifiers, which together have roughly doubled its addressable market to around Rs 1.6 lakh crore.

On the financial side, the June quarter already showed some of this playing out, with revenue up nearly 12% and net profit rising close to 15% compared to the same period last year.

By the end of the session, the stock had settled at Rs 252.20, closing up 2.73% for the day. That gives the company a total market value of just over Rs 16,200 crore.

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