Sector analysis · India

Consumer Durables sector earnings growth, Q3 FY26

The 20 largest Consumer Durables companies by market cap at the end of Q3 FY26 (31 Dec 2025), compared with Q2 FY26.

The top 20 at Q3 FY26

Q3 FY26 vs Q2 FY26: combined net profit ₹5,070 cr (−20%), median EPS −6% (10 of 20 up), market-cap-weighted price +4%. 20 of 20 reported.

Quarter

Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27

Compared with

YoY QoQ

Weight is each company's share of the 20 companies' combined market cap. Contribution is the change in its owners' profit divided by their combined base profit, in percentage points, so the column adds up to the sector's earnings growth. EPS cannot be added across companies, which is why contributions use profit.

#	Company	Weight	EPS ₹, base → now	EPS growth	Contribution	Price
1	Titan Company LimitedTITAN	28.1%	12.62 → 18.97	+50%	+8.7 pp	+20%
2	Asian Paints LimitedASIANPAINT	20.8%	10.36 → 11.05	+7%	+1.0 pp	+18%
3	LG Electronics India LimitedLGEINDIA	8.1%	5.74 → 1.32	−77%	−4.6 pp	—
4	Havells India LimitedHAVELLS	7.0%	5.09 → 4.80	−6%	−0.3 pp	−5%
5	Dixon Technologies (India) LimitedDIXON	5.7%	110.72 → 47.34	−57%	−5.9 pp	−26%
6	Berger Paints (I) LimitedBERGEPAINT	4.9%	1.77 → 2.33	+32%	+1.0 pp	+4%
7	Kalyan Jewellers India LimitedKALYANKJIL	3.9%	2.52 → 4.03	+60%	+2.4 pp	+7%
8	Voltas LimitedVOLTAS	3.5%	1.04 → 2.57	+147%	+0.8 pp	+1%
9	Blue StarBLUESTARCO	2.8%	4.82 → 3.92	−19% one-off	−0.3 pp	−8%
10	Metro Brands LimitedMETROBRAND	2.6%	2.49 → 4.71	+89%	+0.9 pp	−6%
11	Amber Enterprises India LimitedAMBER	1.8%	−9.35 → −7.75	loss, smaller one-off	+0.1 pp	−21%
12	Kansai Nerolac Paints LimitedKANSAINER	1.5%	1.67 → 1.50	−10% one-off	−0.2 pp	−5%
13	Century Plyboards (India) LimitedCENTURYPLY	1.4%	3.10 → 2.87	−7%	−0.1 pp	+2%
14	PG Electroplast LimitedPGEL	1.3%	0.10 → 2.17	+2,070%	+0.9 pp	+14%
15	Crompton Greaves Consumer Electricals LimitedCROMPTON	1.3%	1.11 → 1.53	+38%	+0.4 pp	−13%
16	Kajaria Ceramics LimitedKAJARIACER	1.2%	8.35 → 5.51	−34% one-off	−0.7 pp	−17%
17	JSW Dulux LimitedJSWDULUX	1.1%	369.52 → 16.32	−96% one-off	−24.9 pp	−4%
18	V-Guard Industries LimitedVGUARD	1.1%	1.50 → 1.31	−13% one-off	−0.1 pp	−13%
19	Bata IndiaBATAINDIA	0.9%	1.08 → 5.14	+376%	+0.8 pp	−19%
20	Cello WorldCELLO	0.9%	3.88 → 2.88	−26%	−0.3 pp	−6%
	Sector earnings growth	100%			−20.4 pp

Who joined and who left

1 joined and 1 left the top 20 since Q2 FY26, as market caps moved.

Joined the top 20 since Q2 FY26 1

now #3 LG Electronics India Limited LGEINDIA

Left the top 20 since Q2 FY26 1

was #16 Whirlpool of India Limited WHIRLPOOL

EPS growth by company, Q2 FY24 to Q1 FY27

Each company's EPS growth quarter on quarter, every quarter it was in the top 20.

≤ −40%−20%0+20%≥ +40% Blue is growth, red is decline, grey is about zero; the colour stops deepening at ±40%.

turned profitableto loss crossed zero, so there is no growth rate to print
loss, smallerloss, bigger a loss in both quarters
outside not in the sector's top 20 that quarter

EPS growth of each company in the sector's top 20, by quarter
Company	Q2 FY24	Q3 FY24	Q4 FY24	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26	Q3 FY26	Q4 FY26	Q1 FY27
TITAN	+22%	+15%	−27%	−7%	−1%	+49%	−17%	+25%	+3%	+50%	−30%	+51%
ASIANPAINT	−22%	+20%	−13%	−7%	−41%	+60%	−38%	+59%	−10%	+7%	+11%	+31%
LGEINDIA	outside	outside	outside	outside	outside	outside	outside	outside	outside	−77%	+673%	−6%
HAVELLS	−14%	+16%	+55%	−9%	−34%	+4%	+86%	−33%	−8%	−6%	+140%	−60%
DIXON	+56%	−11%	−1%	+40%	+192%	−56%	+133%	−44%	+198%	−57%	−11%	+158%
BERGEPAINT	−18%	+3%	−26%	+59%	−23%	+9%	−11%	+20%	−34%	+32%	+23%	+21%
KALYANKJIL	−6%	+34%	−23%	+28%	−26%	+67%	−14%	+41%	−2%	+60%	−1%	−15%
VOLTAS	−72%	to loss	turned profitable	+187%	−60%	−1%	+82%	−42%	−75%	+147%	+37%	+84%
BLUESTARCO	−21%	+42%	+59%	+6%	−43%	+38%	+46%	−38%	−18%	−19%	+182%	−55%
METROBRAND	−28%	+47%	+59%	−41%	−24%	+36%	0%	+4%	−31%	+89%	−9%	−20%
AMBER	outside	outside	turned profitable	−24%	outside	+86%	+223%	−11%	to loss	loss, smaller	turned profitable	−83%
KANSAINER	−76%	−13%	−25%	+99%	−47%	+454%	−84%	+104%	−39%	−10%	−7%	+106%
CENTURYPLY	+12%	−35%	+26%	−57%	+16%	+46%	−10%	−1%	+33%	−7%	+22%	+3%
PGEL	outside	outside	outside	outside	−77%	+89%	+266%	−54%	−96%	+2,070%	+5%	+18%
CROMPTON	−18%	−12%	+60%	+10%	−18%	−12%	+54%	−28%	−42%	+38%	to loss	turned profitable
KAJARIACER	0%	−4%	−2%	−12%	−6%	−8%	−45%	+156%	+22%	−34%	+77%	+9%
JSWDULUX	outside	+21%	−5%	+5%	−15%	+11%	0%	−16%	+1,749%	−96%	+69%	−37%
VGUARD	−8%	−1%	+31%	+30%	−36%	−5%	+51%	−19%	−11%	−13%	+96%	+16%
BATAINDIA	−68%	+71%	+10%	+174%	−70%	+13%	−22%	+13%	−73%	+376%	outside	outside
CELLO	outside	+6%	+4%	0%	−6%	+7%	−5%	−17%	+17%	−26%	outside	outside