Crompton Greaves gets new patent for 20 years; shares trade flat

Crompton Greaves: In another development, Sachin Phartiyal, Business Unit Head Home Electricals, designated as a Senior Management Personnel, has tendered his resignation.

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Crompton Greaves Consumer Electrical share price was trading flat in opening trade on March 18 despite the company being granted a patent for an invention titled “Linear Node Tubular Lighting System” for 20 years effective from August 14, 2020.

At 09:33am, Crompton Greaves Consumer Electrical was quoting at Rs 274.80, down Rs 0.40, or 0.15 percent, on the BSE.

In an another development, the company informed that Sachin Phartiyal, Business Unit Head Home Electricals, designated as Senior Management Personnel (SMP), has tendered his resignation and shall be relieved from his duties w.e.f. closure of business hours of April 9, 2024.

While Rajat Chopra is currently the Business Unit Head (Pumps), designated as an SMP, he would also take over as Business Unit Head (Home Electricals) w.e.f. April 10, 2024, the company added in a filing.

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On March 14, the company had bagged order(s)/ Letter of Empanelment from Government of Maharashtra, Haryana, and Rajasthan for the supply, installation, testing, and commissioning of Solar Photovoltaic Water Pumping System (SWPS) with PV Modules under the esteemed PM-KUSUM Scheme at various location across the respective states.

In the December quarter, Crompton Greaves Consumer Electricals recorded a 3 percent decrease in consolidated net profit at Rs 85 crore, However, revenue was up 12 percent at Rs 1,693 crore.