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Expected heatwave to thaw the freeze on AC stock gains
Business Standard
|March 10, 2025
DEMAND BOILS OVER, PRICE HIKES SIZZLE: Room AC majors eye scorching double-digit growth
Barring Blue Star, most listed air conditioner manufacturers lagged the BSE Mid Cap and BSE Consumer Durables indices over the past six months. While volume growth remained strong, the absence of price hikes, rising competition, and a focus on market share dented profitability.
Voltas, the market leader in room air conditioners (RACs), saw a 240-basis-point year-on-year drop in earnings before interest and tax margins for its unitary cooling products segment in the October-December quarter of 2024-25 (Q3FY25), hitting a multi-quarter low of 5.9 per cent. However, air conditioning stocks have rebounded over the past month as expectations of a harsh summer drive demand optimism.
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