Page 2 - Air Conditioners

Blistering summer helps Varun Bev, Havells, Voltas, others improve earnings

Heat waves are accelerating the penetration of many cooling products like air conditioners and refrigerators, an industry expert said

BSES power discoms launch scheme for replacement of old ACs in Delhi

The BSES power discoms have launched a scheme for consumers in the city to exchange their old air conditioners with energy-efficient ones with discounts of up to 63 per cent, according to a statement. The summer season this year is anticipated to be intense with temperatures already reaching 40 degrees Celsius in Delhi and expected to rise even higher, it said. The statement said cooling load can account for up to 50 per cent of a household's or a discom's annual energy expenses. Switching to a 5-star energy-efficient air conditioner can significantly reduce this cost, it added. The BSES Rajdhani Power Limited (BRPL) and the BSES Yamuna Power Limited (BYPL) have launched a limited-period 'AC Replacement Scheme' in partnership with leading air conditioner manufacturers. This initiative will help domestic consumers of South, West, East, and Central Delhi to replace their old air conditioners with new and energy-efficient 5-star ACs, including next-generation inverter technology model

Blue Star Q4FY24 results: Net profit declines 29% to Rs 159.71 crore

Air conditioner and commercial refrigeration system maker Blue Star Ltd on Thursday reported a 29 per cent decline in its consolidated net profit to Rs 159.71 crore for the fourth quarter of 2023-24. The company had reported a net profit of Rs 225.29 crore in the January-March quarter of FY2022-23, a regulatory filing showed. Blue Star's total income increased to Rs 3,340.16 crore in the quarter under review from Rs 2,830.48 crore in the January-March period of the previous fiscal. Its total expenses were also higher at Rs 3,126.38 crore in the fourth quarter of 2023-24, compared with Rs 2,485.46 crore in the corresponding period last year. "The company has reported Revenue from Operations of Rs 9,685.36 crore for the year ended March 31, 2024, compared to Rs 7,977.32 crore during FY23, representing growth of 21.4 per cent," Blue Star Ltd stated. It further informed that the net profit for the year was Rs 414.31 crore compared to Rs 400.69 crore in FY23. During the previous year, t

Rising heat drives up sales of ACs in India; increase in installation times

Installation times of air-conditioners are stretching to two weeks in certain areas, as sales have surged up to three times compared to the previous year

Hitachi Energy plans India expansion, local ops amid rising power demand

India's government last year rolled out incentives for green energy transition, with an aim to have 500 GW of installed capacity through non-fossil fuel sources by 2030

Voltas stock price today up 5% on UBS upgrade; Whirlpool on a roll too

Voltas, Whirlpool of India stock price update: Shares of household appliances makers Voltas and Whirlpool surged up to 7 per cent on the BSE in Monday's intra-day trade on improved outlook.

Country's consumer firms gear up to capitalise on a sizzling summer

Cooling systems providers are one of the main beneficiaries of summer, with the season contributing up to 60% of their annual revenue

Commercial AC market has significant growth potential, says CEAMA president

Commercial air-conditioning (AC) market holds "significant promise" and is witnessing growth, driven by rapid urbanisation, infrastructural development and growing emphasis on comfort in commercial spaces, said Sunil Vachani, president of electronics and appliances manufacturers' body CEAMA. The commercialC (Heating, Ventilation, and Air Conditioning) segment is witnessing a shift with its wide array of applications, with infrastructure growth including offices, retail spaces, healthcare facilities, hospitality establishments, and educational institutions, said the president of Consumer Electronics and Appliances Manufacturers Association (CEAMA). Moreover, factors such as increasing awareness of indoor air quality, sustainability mandates, and the integration of IoT (internet of things) and building automation systems are also reshaping the commercialC landscape, offering avenues for innovation and market expansion, he said. "In terms of growth potential, the commercialC segment ..

Prediction of scorching heat creates winners in Indian stock market

Consumption of soda, ice creams and dairy products typically jumps sharply during the summer

Samsung India expects high sales growth for ACs, refrigerators this summer

Sales of consumer durables such as ACs and refrigerators were impacted last year due to unseasonal rains, resulting in lower-than-normal temperatures

Blue Star bets big on 'harsh' summer to cross 1 million mark in sales

'Rural markets key growth driver, contributing to 65% sales'

Havells, V-Guard, Voltas rally up to 5% on healthy outlook

Shares of Havells India hit a new high of Rs 1,590.90, surging 5 per cent on the BSE. A sharp run-up in the stock price has seen the m-cap of Havells India inch towards Rs 1 trillion

Godrej Appliances expects 20% growth in AC, refrigerator sales this summer

Homegrown white goods major Godrej Appliances on Tuesday said it expects at least a 20 per cent growth in sales of air conditioners and refrigerators during the summer season. The city-based company is the fourth largest air conditioner brand with 0.7 million units sales and the fifth when it comes to refrigerators with 1.8 million sales in the country. "We expect the summer to be scorching this year after an extended winter and this should help us clock at least 20 per cent uptick in volume for both ACs and refrigerators. "Last year, our AC sales more than doubled," Kamal Nandi, executive vice president and business head at the Godrej Appliances told PTI here on Tuesday. He was speaking on the sidelines of the launch of its new range of wood-finish and natured-inspired refrigerators and air conditioners. Nandi said he expects at least 10 per cent of incremental volumes to come in from these new products which will command a 5 per cent premium over its existing products. While it

Panasonic unveils smart, IoT powered models across inverter AC range

Panasonic on Monday launched its 2024 line-up of air conditioners, with 60 new models mostly across inverter AC range. This also includes India's first matter-enabled room ACs, powered by its IoT platform Miraie, a statement from Panasonic Life Solutions India (PLSIND) said. A matter-enabled device can be set up in a few seconds, connecting it to customer's network, smart speakers, ACs. We developed and manufactured our new range of ACs, keeping the evolving needs of our consumers in mind. The new line-up of ACs, comprising India's first matter-enabled RACs will not only provide inter-operability but, is also simple to use, reliable and secure," said Managing Director Fumiyasu Fujimori. PLSIND is a subsidiary of Japan's Panasonic Holdings Corporation.

Voltas Q3 results: Profit falls 58% to Rs 23.85 crore as expenses rise

The Tata Group-owned company's consolidated profit before exceptional items and tax fell 58% from last year to Rs 23.85 crore ($2.87 million) in the three months to Dec 31

AC manufacturer Voltas stock hots up on hopes of a cooler outlook

Manufacturers have also started to stock channels in anticipation of summer demand which may kick in from Q4FY24

AC-maker EPACK Durable IPO subscribed 77% on first day of subscription

The Initial Public Offering (IPO) has a fresh issue of Rs 400 crore and an offer-for-sale of up to 1,04,37,047 equity shares. The IPO has a price range of Rs 218-230 a share

EPACK Durable IPO subscribed 77% on first day of listing: NSE data

The initial public offering of EPACK Durable, an outsourced design manufacturer of room air conditioners, got subscribed 77 per cent on the first day of subscription on Friday. The initial share sale received bids for 1,53,54,560 shares, as against 1,99,77,615 shares on offer, as per NSE data. The category for Retail Individual Investors (RIIs) got subscribed 1.17 times while the portion for non-institutional investors attracted 82 per cent subscription. The Qualified Institutional Buyers (QIBs) part got subscribed 1 per cent. The Initial Public Offering (IPO) has a fresh issue of Rs 400 crore and an offer-for-sale of up to 1,04,37,047 equity shares. The IPO has a price range of Rs 218-230 a share. EPACK Durable Ltd on Thursday raised Rs 192 crore from anchor investors. At the upper end of the price band, the public issue is expected to mobilise Rs 640 crore. Proceeds of the fresh issue will be utilised for funding capital expenditure for the setting up of manufacturing faciliti

Indian Navy chief inaugurates CO2-based AC plant at INS Shivaji in Pune

"This is a major step towards meeting the government's commitment to reduce global warming and emission of gases harmful to the environment," he added

Govt relaxes quality control order norms for ACs to enable ease of business

Quality control orders (QCOs) issued by the government aim to not only improve the quality of manufacturing standards but also enhance the brand and value of 'Made in India' products