• FY26 performance headwinds: Margins and revenue were severely impacted by a Q4 LPG shortage that halted 60%–70% of capacity for 15 days causing a roughly ₹300 crore revenue loss, alongside a ₹57 crore negative swing from foreign exchange losses.
• Inventory and demand: Total inventory dropped from ₹1,600 crore at the end of March to approximately ₹1,100 crore by late May as stuck finished goods were cleared, supported by stronger sales momentum in April and May.
• Volume and market share: The company delivered 1.8 million air conditioner units and 1.2 million washing machines in the past financial year, capturing an estimated 35%–40% share of the outsourced air conditioning market.
• Compressor backward integration: Equipment for a new 2-million-unit compressor manufacturing line is scheduled to arrive by August, with commercial production slated for Q4 FY27 to secure supply chains and enhance margins.