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BPL: Trouble brewing

Sep 2, 2002

Ever since the entry of Korean consumer durable majors, the Indian counterparts have had a run for their money. BPL is one of them. After the Cricket World Cup in 1999 when it posted record numbers, net profits have fallen at a CAGR of 28% in the last three years.

BPL: Survival game

Jul 3, 2002

BPL Limited, the diversified consumer durable major, is in serious trouble. The market leader in the Indian CTV segment has posted a 53% drop in net profits for the full year ended March 2002. The fall in both revenues and profitability has surpassed our estimates. Continuous diversification from its core business of manufacturing CTVs is one of the key cause of concern.

Consumer durables: Grim outlook

Mar 19, 2002

Over the last few days, consumer durable majors like BPL and Videocon have been gaining ground. After two years of lacklustre demand scenario, the current year was expected to benefit durable majors, more notably in the second half of the current fiscal in light of higher agricultural output. However, if one were to compare YoY, things are not that heartening.

Philips: Margins on the move

Feb 13, 2002

Philips India has reported a 2% rise in sales and a sharp rise in operating margins for the full year ended December 31, 2001. Net loss has also come down notably in the same period despite higher provisioning towards employee separation costs.

BPL: Threats unlimited

Feb 11, 2002

The consumer durable sector continues to reel under pressure on account of slowdown in the economy. While select companies like BPL have managed to gain market share in the colour television segment (CTV), price realisations has been on the decline. We take a look at the third quarter performance of BPL and its future prospects.

Philips: Challenges galore

Dec 20, 2001

The consumer durable companies, after a disappointing FY01 and 1HFY02, were betting on the festive season for a higher offtake in the second half of the current fiscal. They were also pinning their hope on higher rural demand in light of higher agricultural output. But durable demand has remained subdued. We take a look at the performance of Philips India, one of the market leaders in the colour television segment (CTVs), in 1HFY02 and its future growth prospects.

BPL: Hampered by the slowdown

Nov 29, 2001

BPL Limited, the market leader in the CTV segment, continues to feel the heat due to stiff competition and a slowdown in the economy. Net profit for the first half of the current year has nosedived by 50% YoY to Rs 206 m.

MIRC: Feeling the heat

Nov 28, 2001

MIRC Electronics, the manufacturers of the Onida brand of colour televisions (CTVs), has reported a 7% fall in sales for the second quarter ended September 30, 2001. Thought net profit for 2QFY02 seems to have fallen by 17.3%, if one were to adjust for the other income component, profits have actually risen in the second quarter.

Going digital but lacking focus

Nov 17, 2001

One of the key differentiating factors in the highly competitive consumer electronics segment is the ability to churn out technologically improved models so as to keep volume growth ticking. And improved technology is nothing new to BPL Limited, one of the market leaders in the durables segment. Nevertheless, the company has been losing out on various other fronts and thus has had to bear the brunt of competition.

Consumerism in full swing…

Nov 17, 2001

The bet is on. With the festive season in full swing, consumer electronics majors have introduced a range of exchange and finance schemes in an effort push volume growth, which has been languishing over the last two years. Will this festive season be any different for these companies, which are hoping for an upturn in consumer demand?

BPL: Where to from here?

Sep 20, 2001

BPL is one of the key losers on the bourses over the last two years. Compared to a market capitalisation of Rs 15,235 m in August 1999, the current market capitalisation is just Rs 1,080 m, a 92% erosion in value. What are the reasons for such a drastic fall?

Durables: Better times ahead?

Aug 21, 2001

After a disappointing FY01, consumer durable companies have something to cheer about. Sales in June as well as July for televisions (TVs) and refrigerators have improved. Are things beginning to look up for these companies?

MIRC: Dwindling profits

Jul 27, 2001

MIRC Electronics, the makers of the Onida range of televisions, has posted a sharp 42.3% drop in net profits for the first quarter ended 30th June 2001. Sales in 1QFY01 has also witnessed a marginal drop by 1.8% to Rs 1,248 m.

BPL: Net plummets 46%

Jul 24, 2001

BPL Limited, the consumer electronics major, has reported another depressing quarterly result. Both sales and profits in the first quarter ended 30th June 2001 have fallen by 19.3% and 46.3% respectively.

BPL: Weakening profitability

Jun 18, 2001

BPL Limited, the consumer electronics major, has reported a sharp 34.8% drop in net profits to Rs 195 m in 4QFY01. This is on the back of a 12.7% decline in sales to Rs 4,183 m. One of the key reasons for the drop in sales is the transfer of some of businesses to the associate BPL Group companies.

BPL: Losing sheen

Jun 15, 2001

BPL Limited is set to announce its annual results today. The slow down in the economy coupled with subdued demand and competition has resulted in considerable decline in volumes in FY01. Sales have declined by more than 15% in the first nine months of FY01. Both margins and profits growth has also suffered on account of competitive market conditions.

Consumer durable: The slow down effect

May 28, 2001

The Indian consumer durable industry is one of the sectors, which felt the pinch of a slow down in the economy to a considerable extent in FY01. We take the closer look at the performance of each of the segments viz. television, audio, air conditioner and refrigerators.

MIRC: Succumbs to the slow down

May 26, 2001

Mirc Electronics has posted a 10.3% drop in sales to Rs 7,152 m for the full year ended 31st March 2001. This could be attributed to the slow down in the economy and subdued demand in some of the states, which were adversely affected by natural calamities.

MIRC: Difficult times

May 25, 2001

MIRC Electronics is set to announce its fourth quarter results today. Having reported a 11.3% drop in sales in the first nine months of the current year, fourth quarter results are also not expected to something out of turn.

Philips: Will it turnaround?

May 16, 2001

Philips India lost a significant portion of its market share to its competitors in FY00. But the company has plans to focus on the lower end of the CTV market to boost sales in FY02 and hope to regain market share. This seems to be paying off as the company managed to cut its loss in the first quarter of the current year backed by a decent volume growth. Is this a sign of things to come?


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