Unseasonal weather impacting summer demand
A weak summer in H1 FY26 hurt cooling product sales; similar weather patterns could repeat and pressure margins.
ADITYAVISION / bear-case history
Track the concerns that keep returning.
Aditya Vision · risk themes across the available quarters.
Research layer active
Bear-case history
Risks carried through the record.
high
Margin pressure from low-margin product mix
Higher mobile and laptop ASPs increased their revenue share, compressing gross margins; trend may continue.
High inventory carrying risk
Inventory of ₹840 crore is elevated; if demand softens, liquidation may require discounts, hurting margins.