New Delhi, Aug. 18 -- Consumer durables companies faced a tough first quarter of FY26 as weak demand for summer products weighed heavily on sales, according to a Union Bank of India Research report. The early onset of monsoon cut short the summer season, hitting the demand for cooling appliances like room air conditioners and air coolers, which saw more than 30 per cent year-on-year (YoY) decline in sales. Fans and refrigerators also recorded double-digit contraction.

The report noted that the combined revenue of companies under coverage stood flat year-on-year at Rs. 273 billion. Within this, electrical firms performed better, posting a 4 per cent rise in sales to Rs. 166 billion, while durable firms witnessed an 8 per cent decline with...