Voltas outruns peers in lockdown-hit Q1, expands market share in room ACs

Air conditioning firm gains market share in room ACs, improves margins

Voltas impressed with its June quarter performance, outperforming peers in a challenging quarter marred by lockdowns. Though the impact on revenue and profits was visible, the positive was its ability to expand its market leadership in the air-conditioner (AC) business.

Voltas’ year-to-date market share stood at 26.2 per cent at the end of the June quarter (24.2 per cent in the previous quarter). Within segments, Voltas also gained share in inverter ACs.

The unitary cooling products segment (primarily ACs) saw revenue decline almost 60 per cent year-on-year (YoY), as sales were impacted by the lockdown in a seasonally strong summer