Key Highlights for April '22
- Room Air Conditioner category recorded an unprecedented growth of over 170%
- The overall Cooling Products segment grew by more than 160%
- Commercial Refrigeration category grew by 125%
- Voltas Beko home appliances segment grew by 75%.
MUMBAI, India, May 25, 2022 /PRNewswire/ -- Voltas Limited, India's No.1 AC brand, from the house of Tata's, recorded a triple-digit growth in April 2022 , due to an increase in demand for cooling products given the intense summer experienced across the country. The volumes of April 2022 in the cooling products segment has broken many records.
Voltas has been the undisputed market leader in the Room Air Conditioner category since more than a decade, consistently maintaining the No. 1 position and has steadily maintained its lead over competition, with a lead of more than 640 BPS over nearest competitor as on YTD March FY22. The brand is now gearing up to meet its business objectives for FY 23.
Commenting on the performance, Mr. Pradeep Bakshi, Managing Director & CEO, Voltas Ltd said, "The summer of April 2022, has helped us gain an unprecedented growth in comparison to the last three years. Our Room AC business has grown up by over 170% in volume. The overall cooling products business has grown by more than 160% while our Home Appliances grew by 75% in volume. In Commercial Refrigeration, the company has grown by 125% in volume in April 22. We believe that our wide presence, focus on the emerging channels, excellent distribution network, strongest brand equity and attractive consumer offers, will help the brand stay ahead of the industry"
He further added, "We are well poised to meet the growing demand, and are optimistic about achieving our business objectives for the financial year FY23."
Besides its 24,000 customer touch points, Voltas also has a widespread network of exclusive brand outlets (EBOs) and plans to launch many more Brand Shops and Experience Zones by the end of FY 23. The Company has recently launched a dynamic product portfolio for the summer, and several Brand Shops in Tier 1, 2, and 3 cities across the country, to meet the expectations of consumers in these markets and enable them to experience the best-in-class technologically advanced products.
Voltas Limited is a premier air conditioning and engineering solutions provider and a Projects specialist. Founded in India in 1954, Voltas Limited is part of the Tata Group, and in addition to Air Conditioners, Air Coolers, Air Purifiers, Water Dispensers, Water Coolers, and Commercial Refrigeration products; the company also offers engineering solutions for a wide spectrum of industries in areas such as heating, ventilation, and air conditioning, refrigeration, electro-mechanical projects, electrification, textile machinery, mining, and construction equipment, water management & treatment, cold chain solutions, building management systems, and indoor air quality. Voltas is one of the leading companies within the Tata group and is the undisputed market leader in room air conditioners in India, with a footprint of over 24,000+ customer touchpoints. It has also launched its range of Voltas Beko Home Appliances, through its new JV in India, in equal partnership with Arcelik.
About Voltas Beko:
Voltbek Home Appliances Private Limited (Voltas Beko) is an equal partnership joint venture between India's leading Air Conditioner Company, Voltas Limited, and one of Europe's largest household appliances manufacturers, ArĂ§elik. The brand 'Voltas Beko' was launched in September 2018 and has in the past year positioned itself as 'Partners of Everyday Happiness' in India. Their portfolio of products includes Refrigerators, Washing Machines, Microwaves/Ovens, and Dishwashers. The brand offers its consumers state-of-the-art innovative products and leverages Voltas' brand & distribution strength and ArĂ§elik's global expertise in product development. Voltas Beko has been consistently increasing its footprint in the Indian home appliances segment and has currently over 7000 consumer touchpoints. The manufacturing facility is situated in Sanand, Gujarat which went on stream in January 2020.