MOSL: INDIA ELECTRICALS-Energy Efficiency Services Limited (EESL) order tracker- Air conditioner ordering takes the center stage
​INDIA ELECTRICALS: Energy Efficiency Services Limited (EESL) order tracker; Air conditioner ordering takes the center stage
- Ordering dominated by air conditioners: EESL placed orders worth INR7.1b in April-May 2017, as against INR5.2b in the year-ago period, an increase of 68% YoY. Ordering was dominated by air conditioners (63% of total orders), followed by LED lamps (23%) and fans (10%). EESL placed orders for 0.1mn ACs (INR4.4b in April-May v/s INR87m in the year-ago period) at average price of INR44, 200 (INR35, 000+taxes), of which Panasonic accounted for 60% and Godrej & Boyce for 40%. For FY18, EESL targets to order 150m LED lamps, 50m tube lights and 20m fans while over FY18-20, it looks to order 20m LED tube light, 60m fans and 10m ACs.
- LED sees marginal revival in pricing: EESL placed orders for 40m LED lamps in April/May 2017 at average price of INR41. Pricing witnessed marginal revival (+8%) post the low bid of INR38 in February 2017. Ledvance accounted for 50% of the orders, followed by Crompton (30%) and Phillips (20%). Ordering for April/May 2017 stood at INR1.6b, as against INR2.8b during the same period last year (down 157%). Ordering activity declined in the lighting segment, with EESL’s focus shifting to other product categories.
- Fans segment sees further price erosion: Fans witnessed ordering of INR739m in April/May 2017 at average price of INR740, as against earlier pricing of INR764. EESL placed orders for 1m fans in these two months. Marc Enterprises is the market leader with a share of 43%, followed by Crompton (23%), Surya Roshni (20%) and Orient Electrics (12%).
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