Page 4 - Voltas

Voltas working to transform into a full-fledged home appliance maker

Voltas is also reviving its plan to make AC compressors locally in partnership with a South Korean or Japanese firm

Voltas Q2 results: Net profit at Rs 36 cr, income increases to Rs 2,364 cr

Air conditioner maker Voltas on Thursday reported a consolidated net profit of Rs 36 crore for the second quarter ended September 30. The company had reported a net loss of Rs 6 crore in the July-September period of the last fiscal. Its total income increased to Rs 2,364 crore for the second quarter against Rs 1,833 crore in the year-ago period, Voltas Ltd said in a regulatory filing. The company said its board has approved a proposal to raise up to Rs 500 crore through the issuance of rated, listed, unsecured, redeemable non-convertible debentures (NCDs) on a private placement basis. The funds would be utilised for the capital expenditure for its new manufacturing plants at Chennai and Waghodia in Gujarat, it added. Shares of the company on Thursday ended 0.68 per cent up at Rs 839.30 apiece on the BSE.

Voltas reports 19% increase in profit on surge in AC sales in June quarter

Voltas shares closed down 0.98% at 828.55 rupees ahead of the results

Untimely rains dent summer sales; to keep durable stocks in check: Analysts

Analysts expect the stocks to remain weak in the near-term as lower sales offtake will lead to companies missing their earnings estimates for the April-June quarter (Q1FY24)

India's room AC market likely to touch $5 billion by FY28: Voltas

The Indian room air conditioner market is likely to reach USD 5 billion by FY28 with a compound annual growth rate (CAGR) of 10 per cent, according to Tata group firm Voltas. The company expects to be at the forefront of this growth. Voltas, an industry leader in the segment with a market share of 21.6 per cent in FY23, remains "very optimistic" about the room air conditioner business and is investing in augmenting its capacity, the company said in its latest annual report. It will reap the benefits of the growth drivers, including hotter summers, rising disposable incomes and aspiration for a better lifestyle. "Easy access to consumer finance has provided a much-needed boost to this category and will continue to do so in the future," it said. "The Indian room air conditioner market is expected to reach USD 5 billion by 2027-28, with a CAGR of ~10 per cent. Voltas, being the industry leader with a market share of 21.6 per cent (2022-23) in this segment, is expected to be at the ..

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Voltas dips 4%, nears 52-week low on concerns of tepid growth in RAC biz

As per management, the Room Air Conditioner business did well in April, but Voltas saw below-expected volume growth in the key month of May due to unseasonal rain.

Looking to expand footprint, Voltas to strengthen 'Voltas Beko' brand

Cooling products maker Voltas has inaugurated its second brand store in Tiruchirappalli, the 10th such facility in Tamil Nadu, the company said on Friday. Through its home appliances joint venture brand 'Voltas Beko', the company aims to strengthen its product portfolio in 2023 by launching a series of new products. "We are delighted to announce the launch of the second Voltas Brand shop at Trichy, Tamil Nadu. As a market leader, we have always placed the customer at the core of all our business operations and our endeavor is to provide them with technologically advanced products to meet their everyday needs," Voltas Managing Director and CEO Pradeep Bakshi said. "With the new brand store, we aim to further provide a holistic product experience for our consumers," he said. The company has showcased a range of air conditioning and cooling products, along with the latest range of home appliances at the shop located on Fort Station Road, Jerome Building, Tiruchirappalli. Keeping with

Sporadic rains hurt sales of summer products, firms counting on June

The untimely episodes of rainfall have prevented the rise in temperatures in north India which usually experiences hot weather during the months of April and May

Voltas to build new air conditioner manufacturing unit in Tamil Nadu

Cooling products maker Voltas on Friday said it has performed the groundbreaking ceremony for the construction of its new air conditioner making unit at Tamil Nadu's Tiruvallur district. This was part of Voltas' efforts to strengthen its "Make in India" commitment to the country and it would be investing Rs 500 crore in the TN plant, a company release on Friday said. The Tata Group company has manufacturing facilities in Pantnagar (Uttarakhand) and Waghodia and Sanand in Gujarat. The Bhoomi Pujan for the Madharapakkam unit was performed by the leadership team of the company on May 24. Chairman of Voltas Limited, Noel Tata and Managing Director & CEO of Voltas, Pradeep Bakshi, along with others were present. "The construction of the new manufacturing facility is spread over 150 acres. The company has planned to invest over Rs 500 crore in this factory, for RAC manufacturing, over the next couple of years. This facility will ensure that all the products manufactured in this ...

Voltas Tamil Nadu facility plan on track, to invest Rs 500 cr for room ACs

The construction of the new manufacturing facility is spread over 150 acres

As the mercury soars, hiring of temp workers for cooling products rises too

This is despite the relatively late onset of summers thanks to the unexpected rains in March and April in North India

Unlikely weather in the north hits AC, ice cream, soft drink business

Manufacturers are worried as they have large stocks in place and due to lower demand the inventory of dealers is also rising

Voltas shares decline nearly 3% after March quarter earnings announcement

Shares of Voltas Ltd fell by nearly 3 per cent on Thursday morning trade after the air conditioning maker reported a decline of 21.6 per cent in its consolidated net profit in the March 2023 quarter. The stock fell by 2.85 per cent to Rs 830.60 on the BSE. At the NSE, it declined 2.82 per cent to Rs 830.50. Voltas Ltd on Wednesday reported a decline of 21.6 per cent in its consolidated net profit at Rs 143.23 crore in the March 2023 quarter, due to provisions made on delayed collection in the international project business. The Tata group firm had posted a consolidated net profit of Rs 182.71 crore in the year-ago period, the company said in a regulatory filing. Revenue from operations of Voltas was up 11.5 per cent to Rs 2,936.76 crore during the period under review, as against Rs 2,633.72 crore a year ago. "Profit before and after taxes were impacted during the current quarter due to provisions made on delayed collection in the international project business," Voltas said in it

Voltas Q4 profit slumps 21% on provisions over contract terminations

Voltas, which competes with Blue Star, made provisions of 2.44 billion rupees during the quarter due to the termination of some contracts in Dubai and Qatar last year

Analysts see more upside in consumer appliance stocks as temperatures soar

White goods stocks: With the mercury currently on the boil, analysts remain bullish on the sector as they see more upside over the near-term and advise investors to pick stocks selectively

Ahead of searing summer, analysts bet on consumer appliance stocks

Analysts expect a rise in demand for air conditioners, coolers, fans and refrigerators to help related companies clock firm sales following the post-Diwali slump due to inflationary pressures

Shares of air-conditioner makers rally up to 7% amid heat wave alert

Analyst at Jefferies believes FY24E should see both Air-Conditioner (AC) and Engineering segments of Voltas being in a sweet spot.

With peak summer season ahead, Voltas may see volumes and margin gains

Q3 was disappointing on account of one-offs, margins pressures

Retail electronics firms scale up inventory, anticipating demand surge soon

This buildup is owing to the fact that demand peaked before Diwali and then drastically declined afterwards due to high inflation and thus retailers cut down inventory levels