India's Blue Star, Godrej, Lloyd to gain air conditioner market share, says PhillipCapital

Blue Star

16/04/2025 10:36

** Brokerage PhillipCapital expects India's Blue Star BLUS.NS, Godrej and Havells India's HVEL.NS Lloyd brand to gain domestic air conditioner market share, while Voltas VOLT.NS and Daikin 6367.T further lose market share

** Blue Star to gain market share in South India on strong brand recall; strong value proposition to drive growth for Godrej, it says

** Adds Lloyd to gain volume share and margin benefits in near term because of operating leverage

** Brokerage sees organic price hikes for Indian domestic air conditioner makers in Q1 FY26

** Voltas to lose market share on price disparity, average product quality, poor after-sales service, and strong competition and Daikin 6367.T to lose because of its high cost product and lower ability to take price cuts, PhillipCapital says

(Reporting by Vijay Malkar)

((VijayDattaram.Malkar@thomsonreuters.com;))