Voltas Held 24.4 Per cent Market Share in AC Business During Last Quarter

• The company also informed that its air conditioners (AC) revenue increased by 19 per cent
• Voltas has been on a brand shops opening spree in India lately

Voltas’ air coolers and other products business witnessed increased traction and healthy growth during the last quarter. As opposed to Rs 28 crores business during the same quarter last year, Voltas managed to generate business worth Rs 46 crores from the same segment, in the quarter ended September this year.

Company’s official statement read, “Voltas continues to be the leader with Number one position in room air conditioner business with a YTD(year to date) market share of 24.4 per cent at multi-brand outlets. Segment revenue increased by 19 per cent and was Rs 526 crores as compared to Rs 441 crores in the corresponding quarter last year.”

Increase in profit figures

The consolidated total income for the quarter ended 30 September 2019 was higher by twp percent, at Rs 1,495 crores as compared to Rs 1,467 crores in the corresponding quarter last year. Voltas’ profit before exceptional items and tax was higher by 11 per cent, at Rs 156 crores as compared to Rs 140 crores in the corresponding quarter last year. Earnings per share (Face Value per share of Re. 1) (not annualized) as at September 30, 2019 was Rs 3.22 as compared to Rs 3.13 last year.

Interestingly, EESL (Energy Efficiency Services Limited) was a client of Voltas this year. EESL had announced the launch of its pilot project which included selling energy efficient ACs to consumers in six cities in India. It is also to be noted here that Daikin, Voltas and Godrej for this tender floated by the company.

Voltas’ brand shop opening spree

While the company informed that it held 24.4 per cent market share in the room air conditioners segment at multi-brand outlets, the fact that it has been opening brand shops in every part of the country, can not be ignored. The Tata owned company had recently opened one such store in Deogarh,Jharkhand. Voltas is retailing Voltas as well as Voltas Beko products through these brand shops in the country.

“Customer centricity is at the core of all our offerings and Voltas Beko has been built on the same principles. Voltas is the No.1 AC brand with 25 per cent market Share, having a sizable lead over its nearest competitor. We aim to make Voltas Beko a market leader in the white goods space,”shared Pradeep Bakshi, Managing Director & CEO, Voltas Limited, at the time of opening this brand shop.

“The consolidated total income of Voltas for the six months period ended 30 September 2019 was higher by 15 per cent, at Rs 4,192 crores as compared to Rs 3,644 crores in the corresponding period last year. Profit before exceptional items and tax was higher by 13 per cent, at Rs 457 crores as compared to Rs 403 crores last year. Earnings per share
(Face Value per share of Re. 1) (not annualized) as at 30 September 2019 was Rs 8.21 as compared to Rs 8.69 last year.