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Almost a week after stepping down as chairman of Trent, Noel Tata announced on Tuesday that he would also relinquish the chairmanship of another Tata group firm, Voltas. Addressing shareholders of the leading cooling products maker in its 72nd annual general meeting (AGM), Noel Tata, 69, said this would be his last AGM as Chairman of Voltas. "As you might be aware, this will be my last annual general meeting as Chairman," Noel Tata said in his address to shareholders. He said the company has developed its next generation of leaders through a combination of internal promotions and lateral hiring and expressed confidence in the management's ability to drive future growth. "The company has developed our next generation of leaders, from both in-house promotions and lateral hires. I am confident that with the close cooperation of seasoned practitioners and new talent, your company will continue to take big strides in all business segments," he said. Thanking shareholders, employees an
Leading room air conditioner maker Voltas said it has crossed the milestone of selling one million units within the first three months of the ongoing 2026-27 financial year. The Tata Group company claimed it has achieved the landmark in record time and further strengthened its leadership position in the Indian room air conditioner (RAC) market. In 2023-24, Voltas claimed to have achieved the two-million RAC sales milestone, which was the industry's first. Earlier in April this year, rival LG Electronics India also announced that it has crossed the one-million air-conditioner sales mark in the first quarter of calendar year 2026, ahead of the peak summer season, underscoring strong demand momentum in the country's RAC market. The Indian RAC industry size is estimated to be approximately 12.5 -14 million units annually. Voltas attributed the milestone to a series of strategic initiatives undertaken over the past year, including a refreshed product portfolio with differentiated offer
Voltas Ltd, the air-conditioning maker and engineering services provider, on Thursday reported a 51.87 per cent decline in its consolidated net profit to Rs 113.43 crore for the March quarter of FY26. It had posted a consolidated net profit of Rs 235.69 crore a year ago, according to a regulatory filing by the Tata Group firm. Voltas' revenue from operations was Rs 4,887.83 crore in the March quarter against Rs 4,767.56 crore in the year-ago quarter. Total expenses of Voltas increased 5.3 per cent to Rs 4,709.95 crore in the March quarter. Voltas total income, which includes other income, rose 1.7 per cent to Rs 4,930.46 crore in the fourth quarter of FY26. In the March quarter, Voltas' revenue from "unitary cooling products for comfort and commercial use", which has room AC business, inched up 1 per cent at Rs 3,493.44 crore. It was Rs 3,458.43 crore in the corresponding period of the last fiscal. "Despite geopolitical-related disruptions creating volatility in raw material ...
Customs authority has slapped a demand notice of Rs 23.52 crore, including duty and penalty, on air-condition maker Voltas over alleged mis-classification of certain imported goods, a regulatory filing said on Monday. The company is analysing the order and will take appropriate course of action including filing of an appeal before the CESTAT in the matter, said the Tata Group firm. As per the order, there was "mis-classification of certain imported goods pertaining to the period from 14th June, 2019 to 21st July, 2022". It is "demanding payment of differential customs duty of Rs 10.76 crore along with applicable interest, and a penalty of Rs 12.76 crore under the relevant provisions of the Customs Act, 1962," According to Voltas, there is no material impact on the financials, operations or other activities of the company due to this penalty.