Voltas achieved a significant milestone by becoming the first Indian company to surpass 2 million AC unit sales in a single financial year. The company attributed this accomplishment to sustained demand for cooling products throughout the year.
Following this achievement, Voltas’ shares soared to a record high of Rs 1,373.20, marking an 11 percent surge in intra-day trading on the BSE. This surpassed its previous peak of Rs 1,356.90 set on October 19, 2021. As of 09:47 am, Voltas was trading at Rs 1,354, representing a 10 percent increase compared to the S&P BSE Sensex’s 0.5 percent rise. Over the past nine trading days, the stock has rallied by 26 percent, demonstrating an impressive 84 percent increase from its 52-week low of Rs 745 recorded on July 14, 2023.
Voltas released a statement noting that the achievement of over 2 million AC unit sales in the fiscal year 2023-24 marked the highest-ever sales volume for any brand in India. The company reported a 35 percent volume growth, attributing its success to consistent demand for cooling products, supported by a robust offline and online distribution network, strong brand equity, and innovative product launches. Additionally, Voltas witnessed substantial volume growth in other cooling products such as air coolers and commercial refrigeration products. Its home appliances brand, Voltas Beko, experienced a remarkable 52 percent volume growth in Q4FY24, reaching close to 2 million units of refrigerators and washing machines sales in FY24. Overall, Voltas sold 5 million consumer products across the country in FY24.
Voltas, a member of the Tata Group, is a leading provider of air conditioning and engineering solutions, as well as specialized projects. Its product portfolio includes air coolers, air purifiers, water dispensers, water coolers, commercial refrigeration, and air conditioning products. Additionally, through its joint venture with Arcelik, Voltas Beko offers home appliances in India.
