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Motilal Oswal Report
With many consumer electrical companies having reported their Q1 FY21 results, we have analysed some important metrics for the entire sector.
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On an average, consumer electrical companies reported revenue decline in the vicinity of approximately 45%. Orient Electric Ltd. was an outlier with approximately 70% revenue decline.
V-Guard Industires Ltd. witnessed lowest revenue decrease of 42% owing to less severe lockdown in the southern region (Kerala and Karnataka bounced back quickly versus other markets).
Summer linked products like air conditioners, stabilizers (for air conditioners), fans and air coolers witnessed loss of peak season sales.
Business to business segment remained in the negative territory, while business to customer segment recovered well (in line with expectation).
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