Consumer Durables Outlook 2022 - Kitchen Appliances, Brands, New Categories To Drive Growth: ICICI Securities
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ICICI Securities Report
Consumer durable companies reported higher margins in CY21E YoY, despite steep input material inflation and supply chain constraints. While there was some impact on revenues in H1 CY21 due to severe second wave of Covid-19 (April-June), demand returned stronger led by large vaccination drives across the nation in H2 CY21.
There was a rise in e-commerce share in channel mix. In CY22, we model consumer durable companies to report flat margins YoY.
New categories such as trimmers, hair dryers and dishwashers would likely drive strong volume growth. We model consumer durable companies under our coverage to report revenue in mid-teen digits in CY22 YoY.
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