India's consumer durables and wires and cables sectors likely to see a muted Q1- Goldman Sachs

Voltas

20/06/2025 10:34

** Goldman Sachs says it expects India's consumer durables and electricals' cos growth to moderate in current quarter

** Adds, while B2B sales for consumer durables have a better outlook due to higher-than-expected govt capex in April, B2C is likely to see muted growth on weak demand for cooling products due to early monsoons

** Goldman sees a lackluster quarter for Crompton Greaves CROP.NS and Havells HVEL.NS amid pressure on fans and ACs, cuts revenue estimates by 1%-2% for both across FY26-28

** Of all consumer durable players Goldman covers, it expects Voltas VOLT.NS to have the lowest y/y growth due to high base in cooling products; cuts revenue estimates by 4% for FY26

** In wires and cables, it expects muted price-led growth, with commodity price volatility expected to crimp margin improvement

** On the day, VOLT, HVEL and CROP up between 0.5% and ~1%

 (Reporting by Ananta Agarwal in Bengaluru)

 ((Ananta.Agarwal@thomsonreuters.com))