Sector analysis · India
Consumer Durables sector earnings growth, Q3 FY24
The 20 largest Consumer Durables companies by market cap at the end of Q3 FY24 (31 Dec 2023), compared with Q3 FY23.
The top 20 at Q3 FY24
Q3 FY24 vs Q3 FY23: combined net profit ₹4,322 cr (+25%), median EPS +22% (14 of 18 up), market-cap-weighted price +18%. 20 of 20 reported.
| # | Company | Weight | EPS ₹, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Asian Paints Limited | 27.9% | 11.18 → 15.09 | +35% | +10.5 pp | +10% |
| 2 | Titan Company Limited | 27.9% | 10.18 → 11.86 | +17% | +4.2 pp | +41% |
| 3 | Havells India Limited | 7.3% | 4.53 → 4.59 | +1% | +0.1 pp | +24% |
| 4 | Berger Paints (I) Limited | 6.0% | 1.72 → 2.57 | +49% | +2.8 pp | +4% |
| 5 | Dixon Technologies (India) Limited | 3.4% | 8.72 → 16.12 | +85% | +1.2 pp | +68% |
| 6 | Kalyan Jewellers India Limited | 3.1% | 1.44 → 1.75 | +22% | +0.9 pp | +180% |
| 7 | Metro Brands Limited | 3.0% | 4.12 → 3.60 | −13% | −0.4 pp | +44% |
| 8 | Voltas Limited | 2.8% | −3.34 → −0.92 | loss, smaller | +2.2 pp | +22% |
| 9 | Kansai Nerolac Paints Limited | 2.3% | 1.36 → 1.91 | +40% | +1.2 pp | −24% |
| 10 | Relaxo Footwears Limited | 1.9% | 1.21 → 1.55 | +28% | +0.2 pp | −1% |
| 11 | Bata India | 1.8% | 6.47 → 4.51 | −30% | −0.7 pp | 0% |
| 12 | Kajaria Ceramics Limited | 1.8% | 4.67 → 6.54 | +40% | +0.8 pp | +12% |
| 13 | Crompton Greaves Consumer Electricals Limited | 1.7% | 1.34 → 1.34 | 0% | 0.0 pp | −8% |
| 14 | Blue Star | 1.7% | 3.03 → 4.88 | +61% | +1.2 pp | −21% |
| 15 | Whirlpool of India Limited | 1.5% | 1.95 → 2.21 | +13% | +0.1 pp | −9% |
| 16 | Century Plyboards (India) Limited | 1.5% | 3.70 → 2.84 | −23% | −0.5 pp | +50% |
| 17 | Cello World | 1.4% | — → 4.00 | — one source | — | — |
| 18 | Sheela Foam | 1.2% | — → 2.83 | sources disagree | — | −4% |
| 19 | V-Guard Industries Limited | 1.1% | 0.91 → 1.34 | +47% | +0.5 pp | +12% |
| 20 | JSW Dulux Limited | 1.0% | 21.39 → 24.99 | +17% | +0.5 pp | +17% |
| Sector earnings growth | 100% | +24.9 pp |
Who joined and who left
3 joined and 3 left the top 20 since Q2 FY24, as market caps moved.
Joined the top 20 since Q2 FY24
Left the top 20 since Q2 FY24
- Safari Industries (India) Limited
- Rajesh Exports Limited
- Bajaj Electricals Limited
EPS growth by company, Q2 FY24 to Q1 FY27
Each company's EPS growth year on year, every quarter it was in the top 20.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ASIANPAINT | +54% | +35% | +2% | −25% | −42% | −23% | −45% | −6% | +43% | −5% | +69% | +40% |
| TITAN | +10% | +17% | +6% | −5% | −23% | −1% | +13% | +53% | +59% | +61% | +35% | +63% |
| HAVELLS | +33% | +1% | +25% | +42% | +8% | −3% | +16% | −15% | +19% | +8% | +40% | −16% |
| BERGEPAINT | +33% | +49% | +20% | 0% | −7% | −2% | +18% | −11% | −24% | −8% | +28% | +29% |
| DIXON | +38% | +85% | +18% | +93% | +262% | +77% | +318% | +67% | +70% | +66% | −37% | +192% |
| KALYANKJIL | +27% | +22% | +97% | +23% | −3% | +21% | +36% | +49% | +98% | +90% | +118% | +32% |
| METROBRAND | −13% | −13% | +127% | −1% | +4% | −3% | −39% | +7% | −3% | +35% | +23% | −5% |
| VOLTAS | turned profitable | loss, smaller | −19% | +158% | +265% | turned profitable | +107% | −58% | −74% | −36% | −52% | +52% |
| KANSAINER | +56% | +40% | +24% | −69% | −31% | +341% | −7% | −5% | +10% | −82% | +4% | +5% |
| RELAXO | +98% | +28% | −3% | −21% | −17% | outside | outside | outside | outside | outside | outside | outside |
| BATAINDIA | −38% | −30% | −3% | +63% | +53% | +1% | −28% | −70% | −73% | +12% | outside | outside |
| KAJARIACER | +54% | +40% | −5% | −16% | −22% | −25% | −58% | +21% | +58% | +13% | +266% | +56% |
| CROMPTON | −23% | 0% | +4% | +28% | +28% | +28% | +22% | −19% | −43% | −11% | to loss | +15% |
| BLUESTARCO | +56% | +61% | −34% | +90% | +36% | +32% | +21% | −28% | +3% | −39% | +17% | −15% |
| WHIRLPOOL | −24% | +13% | +24% | +92% | +42% | +57% | +54% | +1% | −20% | outside | −33% | outside |
| CENTURYPLY | +3% | −23% | −31% | −60% | −59% | −7% | −34% | +50% | +72% | +9% | +49% | +55% |
| CELLO | outside | — | — | +637% | +4% | +5% | −5% | −21% | −1% | −31% | outside | outside |
| SFL | outside | sources disagree | outside | outside | outside | outside | outside | outside | outside | outside | outside | outside |
| VGUARD | +35% | +47% | +43% | +54% | +7% | +3% | +19% | −26% | +3% | −5% | +23% | +76% |
| JSWDULUX | outside | +17% | +14% | +4% | +4% | −5% | 0% | −21% | +1,619% | −32% | +16% | −12% |