EBITDA dropped 42.6% to ₹195.7 crore from ₹340.7 crore, while margins contracted sharply to 4.8% from 7.8% last year.
| Particulars | Q3FY26 | Q3FY25 | YOY | Q2FY26 | |
| Revenue |
4,114.39 |
4,395.53 |
-6.4% |
6,174.03 |
-33.4% |
| EBITDA |
196.09 |
340.36 |
-42.4% |
547.56 |
-64.2% |
| EBITDA Margin |
5% |
8% |
9% |
||
| PAT |
89.673 |
233.45 |
-61.6% |
389.43 |
-77.0% |
The performance was below Bloomberg estimates, which had pegged revenue at ₹4,329.7 crore, EBITDA at ₹322.8 crore and net profit at ₹204.6 crore.The company attributed the weakness to lower-than-expected post-festive demand, particularly in compressor-led products.
Margins were also impacted by lower sales, higher input costs of copper and aluminium, and rupee depreciation.
Speaking to CNBC-TV18, the management said there is no structural weakness in the business, but acknowledged that the industry has faced recent headwinds.
It added that market share has improved in refrigerators and air conditioners, inventory levels at channel partners have normalised, and the toughest phase of the GST transition is behind.
The company remains optimistic about a recovery ahead and expects to return to sustainable double-digit EBITDA growth, with AC inventory levels now beginning to stabilise.
