India ka consumer durables market filhaal thoda confused hai. Festive season mein premium products toh bik rahe hain, par mass-market mein demand dhili padi hai. Motilal Oswal ne Polycab India ko spotlight mein rakha hai.
Market ka current scene kya hai?
Festive season (Navratri) mein sales 25-30% toh badhi hain, lekin dikkat ye hai ki sirf premium cheezein hi bik rahi hain. Aam aadmi budget products se door hota ja raha hai kyunki inflation ki maar zyada hai.
Replacement demand mein badi girawat
Sabse tension ki baat ye hai ki log purane appliances ko badal nahi rahe hain. Purane products ko exchange karne ka rate jo pehle 30% tha, wo ab gir kar sirf 12% reh gaya hai. Matlab log ab 'chalta hai' wala attitude rakh kar purane fridge aur TV ke saath kaam chala rahe hain.
Temperature aur TV ka khel
AC ki sales mein 60% ka uchhal dikha hai, par ye sirf weather ki wajah se hai. Wahi TV segment mein bade screen wale premium TVs ki maang toh hai, lekin electronic panels aur semiconductors ke mehenge hone se inki prices 20% tak badh gayi hain. Isliye chote buyers ab purchase postpone kar rahe hain.
Polycab par nazar kyun?
Motilal Oswal ke hisaab se, Polycab India is situation mein safe hai kyunki inka focus retail se zyada industrial aur real estate business par hai. Inka industrial sector mein market share badh raha hai, jo general consumer sentiment se kam impact hota hai.
Note: LG Electronics ke baare mein report mein mention hai, par dhyaan rahe ki LG Electronics India ek private company hai aur stock market par listed nahi hai, isliye ismein direct investment nahi ho sakta.
Investors ko ab sirf festival discounts ya zero-cost EMI ke bharose nahi rehna chahiye. Raw material costs aur company ke profit margins par nazar rakhna hi asal smartness hai.