Quote on outlook for FY24 AC Industry By Avinash Pathak LKP Securities
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Below the quote on outlook for FY24 AC Industry from Avinash Pathak, Research analyst at LKP Securities.
The room ACs industry volume is expected to grow further in FY24 supported by an under penetrated market and expected harsh summers this year. Earlier healthy growth seen during FY23 due to the extended and intense summer and pent up demand. The industry has significant growth potential considering its low penetration of around 9-10% of total urban households, compared to much higher percentages in developed countries. Increasing urbanisation, growing disposable income, improving consumer finance availability and increasing RACs per household are further expected to support volumes as well as growth.
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