Voltas Registered 72% Volume Growth in AC Sales During Q2 FY2024

Voltas Ltd, a part of Tata Group and India’s No.1 AC brand, has achieved a significant milestone with its highest-ever AC sales at the end of March 31, 2024 (FY 2024). During FY 2023-2024, Volatas Limited recorded sales of over 2 million AC units, which proved to be the highest-ever sale of ACs by any brand in a financial year in India. This indicates a volume growth of 35% on a YoY basis. The company further stated in the release that this outstanding performance was supported by consistent demand for cooling products during the year, together with its strong offline and online distribution network, robust brand equity, and innovative new launches.

Voltas Limited witnessed a strong growth in the volume of other cooling products, including air coolers and commercial refrigeration products. In addition, Voltas Beko, the Home Appliances brand, recorded a volume growth of 52% in Q4 FY 2024 and also achieved the milestone of close to 2 Million Home Appliances (Refrigerators and washing Machines) in FY24. Overall, the company sold 5 Million Consumer Products to happy customers across the country in FY24.

The release also stated that the company has been the market leader in the Air Conditioner category for more than a decade, consistently maintaining the No. 1 position, and has steadily maintained its lead over the competition.

“We are delighted to achieve this extraordinary milestone of achieving 2 million ACs in FY 2023 – 24, which is an industry first. We would like to reiterate that none of our competitors within the category are anywhere close to where we stand today. Almost 70 years ago, Tata Sons and Volkart Brothers came together to start Voltas in India. When we look back all these years, we get a sense of gratification. Not only are we leaders across all our businesses, but we are also leaders, with huge leads,” said Mr Pradeep Bakshi, MD & CEO of Voltas Limited

He further added, “We believe that our wide presence, focus on the emerging retail channels, excellent distribution network, strongest brand equity and attractive consumer offers, have helped us to achieve this significant milestone. We would like to thank all our business partners and customers for having faith in us and for making us the undisputed leader.”

About Voltas Limited

Voltas is mainly involved in the manufacturing and sales of air conditioning, refrigeration, and other home appliances. It is also engaged in electro-mechanical projects as an EPC contractor both in domestic and international geographies. On April 08, 2024, the shares of the company opened at ₹1,303.85 and touched the day high of ₹1,373.20 at 09:53 AM.

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