AC makers eye FY27 summer rebound, but copper at $12,500/t squeezes margins despite price hikes
Blue Star, Voltas, Havells, Lloyd and Crompton enter FY27 cautious after bruising FY26: Voltas Ebitda margin halved to 4.5%, Lloyd revenue fell 23%, Crompton swung to ₹230cr loss. Copper up 31%, BEE norms and FX threaten margins; Blue Star pushed 8% hikes vs 13% needed, Polycab took 18-19%.
Indian consumer durables makers (Blue Star, Voltas, Havells, Crompton, Polycab) enter FY27 cautiously optimistic on summer AC demand after bruising FY26, but rising copper prices, BEE norms and currency volatility threaten margins despite price hikes.