Voltas, India's No.1 AC brand, celebrates the highest ever landmark of 2 million units of AC sales in FY 2023-24

Voltas, India's No.1 AC brand, from the house of Tata, achieved the landmark of highest ever AC sales in FY 2023-24. The Company achieved over 2 million AC units during this fiscal 2023-24, the highest ever sale of ACs by any brand in a financial year in India, with a volume growth of 35%. The performance was attributed to a consistent demand for cooling products during the year, coupled with the company's strong offline and online distribution network, strongest brand equity, and innovative new launches.

Commenting on this momentous occasion, Mr. Pradeep Bakshi, MD & CEO, of Voltas Limited, who has been the main torch-bearer behind the success of the brand, said, "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. 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."

Voltas 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. The brand is now gearing up to further expand its retail and distribution network, to cater to its ever-growing product portfolio, to get an additional edge over competition. The company registered a significant growth in volume in other cooling productsincluding air cooler and commercial refrigeration products. Voltas Beko, the Home Appliances brand, also registered a volume growth of 52% in Q4 FY24; and also achieved the milestone of close to 2 Million Home Appliances (Refrigerators & Washing Machines) in FY24. Overall, 5 Million Consumer Products got sold to happy customers across the country by Voltas in FY24.

Shares of Voltas Limited was last trading in BSE at Rs. 1232.20 as compared to the previous close of Rs. 1217.25. The total number of shares traded during the day was 29552 in over 4445 trades.

The stock hit an intraday high of Rs. 1241.05 and intraday low of 1217.05. The net turnover during the day was Rs. 36394593.00.

Source : Equity Bulls

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Voltas INE226A01021 HighestEver ACSales FY2024