Crompton Recognized as India's Best Managed Companies 2023 by Deloitte India for the Second Consecutive Year
Wednesday, 24 January 2024
*Crompton Greaves Consumer Electricals Ltd.* has been honored as one of India's* Best Managed Companies 2023 by Deloitte India *recognizing its consistent efforts to drive business excellence for the second consecutive year. India's "*Best Managed Companies*" winners are amongst the best-in-class Indian companies demonstrating leadership in the areas of strategy, capabilities, innovation, culture, commitment, and financials to achieve sustainable growth.
*Crompton Bags Deloitte Best Managed Companies Award*
Crompton has established itself as a leading brand in the consumer electricals industry while generating industry-leading returns since its inception. Guided by its purpose, Crompton aims to deliver unparalleled value to all stakeholders. With a rich legacy of over 85 years, Crompton has continually invested in brand and innovation to better cater to the needs of modern Indian consumers; providing them with high performance and superior quality products.
Talking about the company's recent achievement, *Promeet Ghosh, Managing Director & CEO - Crompton Greaves Consumer Electricals Ltd.* said, "We are immensely honored to be acknowledged by Deloitte as India's "Best Managed Company". As we embark on the Crompton 2.0 journey, we are poised to further accelerate our growth through investing in brand building, innovation, digitization & people capabilities while continuing our focus on manufacturing, supply chain & GTM excellence with digital transformation being an important enabler across the value chain."
He further added,**"Over the yearsCrompton has always stood for excellence in quality. This recognition reflects the collective efforts of our dedicated team at Crompton. It is the driving force behind our success. We will continue to invest in and nurture our people to ensure the sustained growth of our company."
The Best Managed Companies is a marquee Deloitte programme that aims to celebrate and build a community of private businesses that are creating a better future. It is backed by a significant history of close to 30 years and a proven framework that has brought value to almost 1,300 private companies across 45 countries. Every year, hundreds of entrepreneurial companies across the globe undergo a rigorous application process, but only the best are awarded with the prestigious title of a 'Best Managed Company'. Since 2021, the globally celebrated programme has been brought to India by Deloitte Touche Tohmatsu India LLP (Deloitte India).
"The BMC 2023 honorees, emerging from a meticulous and comprehensive evaluation process, are more than just winners in a competition; they are pioneers redefining industry standards. Their leadership in adopting cutting-edge technologies, their commitment to sustainable practices, and their ability to navigate complex global markets have set them apart. These companies are not just driving economic growth; they are shaping the future of their respective industries, demonstrating that ethical practices and innovative strategies are key to long-term success in the rapidly evolving business world," said *K.R. Sekar, Partner, Deloitte India*.
The 2023 winners of India's Best Managed Companies Programme were honoured on 12 January 2024. The event addressed leading-edge business issues that are key to the success of today's business leaders.
*About Crompton*
With a brand legacy of over 85 years, Crompton Greaves Consumer Electricals Ltd. is India's market leader in the category of fans and residential pumps. Over the years, the organization has continuously strived to produce a range of innovative products, that cater to the modern consumer, which includes superior quality and high-performance fans, pumps, lighting solutions and a range of other categories like water heaters; air coolers; small kitchen appliances like mixer grinders, air fryers, OTG, electric kettles etc., as well as other home appliances like irons and built-in kitchen appliances. The company has also invested in brand and innovation to not only better understand and meet the consumer needs, but to also help drive energy efficiency. The consumer business also has a well-established and organized distribution network driven by a strong dealer base across the country offering a wide service network and robust after sales service to its customers.
The companys consistent focus and drive has helped in developing energy-efficient products and these efforts also received numerous recognitions and awards. It has been honored with three prestigious National Energy Consumer Awards (NECA) by the Bureau of Energy Efficiency, Ministry of Power. The recent award was presented by the Hon'ble President of India, Smt. Droupadi Murmu for the companys storage water heater in the year 2023. In 2019, the brand also won the award in two categories: Ceiling Fans and LED Bulbs. Additionally, it was recognized as one of Indias Best Managed Companies 2022 by Deloitte Private and been listed among 'India's Top 500 companies 2022' by Dun & Bradstreet India. The company has also been featured in "Brand Top 75" most valuable Indian brands list for 2020 released by WPP and Kantar. Furthermore, Crompton was also recognized as the Brand of the Decade 2021 by Herald Global and BARC Asia in the Consumer Electrical category.
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