Whalesbook
Toh bhai, hua yeh hai ki West Asia mein jo tensions chal rahi hain na, usse India kaafi worried hai. Lagta hai LPG ki prices badh sakti hain ya supply bhi ruk sakti hai. Isi danger ko dekh kar Department for Promotion of Industry and Internal Trade (DPIIT) ne poora plan bana liya hai ki ab gas se hatkar electric cooking ko promote karna hai. Energy security badhegi aur bahar se fuel mangwana kam hoga. Reports toh yeh bhi keh rahi hain ki pichhle ek mahine mein induction cooktops ki demand 2 se 3 guna badh gayi hai. Govt ne companies ko bola hai, 'Boss, production ekdum tez kar do!'
Abhi kya hai na, Havells India, Epack Durable, aur TTK Prestige jaise bade players toh taiyar hain production badhane ke liye. Lekin sabse badi bottleneck yeh aa rahi hai ki humaare paas zaruri components, jaise ki crystalline glass aur PCBs, yeh sabhi bahar se aate hain, aur zyada tar toh China se. Iske karan components ki delivery time jo pehle 25-30 din tha, woh ab 40-45 din ho gaya hai. Industry ne govt se appeal bhi ki hai ki kuch time ke liye BIS certification rules mein chhoot de dein imported parts par, taki kaam jaldi ho sake.
Agar players ki baat karein toh Havells India ek bada naam hai, jo 'Make in India' par focus karta hai. Unki market cap lagbhag ₹82,616 Crore hai aur TTM P/E ratio hai 54.45 ke aas paas. Epack Durable, jo ek ODM hai, FY27 tak apni capacity double karne ka plan kar raha hai. Haan, unhone Q2 FY26 mein ₹223 Crore ka Net Loss report kiya tha, par woh induction cooktops mein bhi aa rahe hain. Epack ki market cap ₹2,334.60 Crore aur P/E 44.03 hai. TTK Prestige toh India ki sabse badi kitchenware company hai aur cooktops mein leader hai. Unki market cap ₹6,669.50 Crore aur TTM P/E 48.59 ke around hai. Overall, India ka consumer electronics market kaafi bada hai, USD 86.08 billion ka 2024 mein, aur aage bhi badhega hi.
West Asia mein jo crude oil $100 ke paar pahunch gaya hai, woh bhi ek bada reason hai India ke induction cooktop mission ka. Hum log apni zarurat ka 88% crude oil aur 60% LPG import karte hain, aur isme se 90% LPG toh Strait of Hormuz se guzar kar aata hai, jo ek sensitive area hai. Isi liye electric cooking par focus badh raha hai. Aur haan, India ke electronics regulations bhi change ho rahe hain. BIS (Bureau of Indian Standards) May 2026 tak IS/IEC 62368-1:2023 standards laane wala hai. Govt shayad import rules mein bhi kuch chhoot de sakti hai local manufacturing badhane ke liye.
Par risks bhi kam nahi hain. Sabse bada risk hai China par yeh dependence. Electric cooking sasti hai chalane mein, commercial users ke liye toh 60% tak kam kharcha aa sakta hai, aur industrial kitchens ke liye 3 saal mein payback ho sakta hai. Lekin shuruati kharcha zyada hai. Epack Durable ka recent loss aur TTK Prestige ki slower sales growth dikhati hai ki market mein competition hai. Aur kai baar toh demand poori karne ke liye finished goods bahar se mangwana pad raha hai, jisse pata chalta hai ki local capacity abhi bhi kam hai. TTK Prestige par analysts ke views bhi mix hain; JM Financial aur ICICI Securities keh rahe hain 'BUY', jabki HDFC Securities ka kehna hai 'REDUCE'.