• Cooling product demand: Driven by an extended summer and delayed monsoon, AC sales in Q1 FY27 were strong and expected to outperform the same period in FY26.
• Cost pass-through: Geopolitical tensions caused polymer and petrochemical prices to surge by 30% to 40%, but the company has largely passed these higher input costs on to customers.
• FY27 capex plans: Planned capital expenditure is approximately ₹400 to ₹500 crore, primarily to set up a greenfield refrigerator plant near Chennai in Andhra Pradesh, with commercial production targeted for Q4 FY27.
• Revenue guidance timeline: Formal annual guidance has been deferred to July or August to gain better clarity on macroeconomic conditions, commodity price trends, and geopolitical developments.