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<ul><li>Demand remained subdued across most consumer durables categories in the quarter</li><li>Cooling categories (RACs, coolers, fans) were muted due to a high base, unseasonal rains in the north, and delayed summer in the south</li><li>Demand momentum in the wire &amp; cable (W&amp;C) segment slowed during the quarter, impacted by channel inventory reduction</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Demand remained subdued across most consumer durables categories in the quarterCooling categories (RACs, coolers, fans) were muted due to a high base, unseasonal rains in the north, and delayed summer in the southDemand momentum in the wire &amp; cable (W&amp;C) segment slowed during the quarter, impacted by channel inventory reductionContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Consumer Durables & EMS (Q4FY26 Results Preview): Soft summer demand, costs heat up

Equity Bottom-Up

<ul><li>We met Orient Electric's management—Mr. Ravindra Singh Negi (MD and CEO) and Mr. Arvind Vats (CFO).</li><li>Management attributed the weak Q1 performance to unfavorable monsoon conditions, which led to dealer destocking.</li><li>Except elevated channel inventory in coolers, the inventory for other categories is at normal levels now. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We met Orient Electric's management—Mr. Ravindra Singh Negi (MD and CEO) and Mr. Arvind Vats (CFO).Management attributed the weak Q1 performance to unfavorable monsoon conditions, which led to dealer destocking.Except elevated channel inventory in coolers, the inventory for other categories is at normal levels now. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Orient Electric: Navigating Headwinds; Margin Key Focus

<ul><li>After a subdued H1FY26, demand in most consumer durables categories remained soft through Q3FY26, though it has gained momentum since</li><li>Ahead of BEE norm changes for RAC and fans effective January, our channel checks reveal distributors accumulated stocks by late December</li><li>Wires and cables are set to post strong performance, propelled by price increases, even as rising input costs create margin headwinds</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

After a subdued H1FY26, demand in most consumer durables categories remained soft through Q3FY26, though it has gained momentum sinceAhead of BEE norm changes for RAC and fans effective January, our channel checks reveal distributors accumulated stocks by late DecemberWires and cables are set to post strong performance, propelled by price increases, even as rising input costs create margin headwindsContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Consumer Durables & EMS (Q3FY26 Results Preview): Soft durables demand, EMS growth moderate

<ul><li>Post a reasonably good festive season, demand environment is likely to have slackened for most consumer durable categories due to (1) weak consumer sentiment due to inflationary pressures, and (2) delayed onset of winters</li><li>RAC continues to shine aided by second summer season and normal channel inventory thereby supporting overall industry growth</li><li>Timely onset of summer season remains key monitorable in coming months</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Post a reasonably good festive season, demand environment is likely to have slackened for most consumer durable categories due to (1) weak consumer sentiment due to inflationary pressures, and (2) delayed onset of wintersRAC continues to shine aided by second summer season and normal channel inventory thereby supporting overall industry growthTimely onset of summer season remains key monitorable in coming monthsContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Consumer Durables & EMS (Q3FY25): Demand slackens post some festive cheer

<ul><li>With Q2 being seasonally the weakest quarter, the demand environment remained impeded by weak consumer sentiment due to inflationary pressures</li><li>As channel inventory ran dry post a sizzling summer season, primary sales of cooling products (more so RAC and air coolers) are likely to support overall industry growth</li><li>While Onam demand (start of the festive season) was below expectation, early trends from Navratri/Dusshera have been encouraging</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

With Q2 being seasonally the weakest quarter, the demand environment remained impeded by weak consumer sentiment due to inflationary pressuresAs channel inventory ran dry post a sizzling summer season, primary sales of cooling products (more so RAC and air coolers) are likely to support overall industry growthWhile Onam demand (start of the festive season) was below expectation, early trends from Navratri/Dusshera have been encouragingContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Consumer Durables & EMS (Q2FY25 Results Preview): Soft Quarter, Festive Season a Key Monitorable

India

Orient Electric Limited manufactures consumer electrical products. The Company offers fans, lighting, home appliances, switchgear, circuit breaker, isolator, room heater, hand blender, and rice cooker. Orient Electric serves customers in India.

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Orient Electric Ltd (ORIENTEL IN)

Consumer Durables & EMS (Q4FY26 Results Preview): Soft summer demand, costs heat up

Cooling categories (RACs, coolers, fans) were muted due to a high base, unseasonal rains in the north, and delayed summer in the south

HDFC Securities

Orient Electric: Navigating Headwinds; Margin Key Focus

We met Orient Electric's management—Mr. Ravindra Singh Negi (MD and CEO) and Mr. Arvind Vats (CFO). Management attributed the weak Q1 performance...

HDFC Securities

Consumer Durables & EMS (Q3FY26 Results Preview): Soft durables demand, EMS growth moderate

After a subdued H1FY26, demand in most consumer durables categories remained soft through Q3FY26, though it has gained momentum since

HDFC Securities

Consumer Durables & EMS (Q3FY25): Demand slackens post some festive cheer

RAC continues to shine aided by second summer season and normal channel inventory thereby supporting overall industry growth. Timely onset of...

HDFC Securities

Consumer Durables & EMS (Q2FY25 Results Preview): Soft Quarter, Festive Season a Key Monitorable

With Q2 being seasonally the weakest quarter, the demand environment remained impeded by weak consumer sentiment due to inflationary pressures

HDFC Securities

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