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Prabhudas Lilladher Report
We estimate our consumer durable universe to register sales/Ebitda growth of 9.8%/2.4% YoY and profit after tax decline of 0.5% YoY in Q4 FY23.
Muted demand environment and inability to pass-on increased cost has impacted consumer durable sector in the quarter. Seasonal products like room AC and fan sales impacted due to unseasonal rain, soft demand and higher inventory in channels.
Companies offering discount and promotions are focusing on volume and market share. Rural demand has been poor due to an inflationary environment and continues to remain weak.
Cable and wire segment continues with healthy growth, largely from business-to-business segment and price hike of 3-4% helped further to report strong sales in quarter.
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