Air Coolers

Orient Electric, which also sells mixer-grinders and switchgears, said profit decreased to Rs 14.34 crore ($1.7 million) in the quarter, from Rs 19.69 crore a year earlier

The investment will help the co to increase production capacity to 15 lakh units per annum at both plants. It currently produces 9 lakh units at its Ghiloth plant and 11.2 lakh units at Sricity plant

India has a star ratings and is a signatory to the Kigali Amendment. But the spike in use of cooling equipment will inevitably cause more warming

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Consumer electronics and appliances maker Veira on Monday said it will invest Rs 450 crore to set up a new manufacturing unit at Greater Noida to enhance capacity for air coolers and washing machines. This investment will result in increasing existing production capacity from 1 lakh to 5 lakh units of washing machines and air coolers annually, Veira said in a statement. "This expansion marks our commitment to serving both domestic and international markets," Veira Director Ankit Maini said, adding that the company anticipates these product segments to contribute 15 per cent to its revenue by the end of FY25. The company, a contract manufacturer, said it already manufactures air coolers for 23 Indian and global brands. Similarly, it manufactures washing machines for 25 such brands. At present, the company said it has two facilities at Noida's Sector 81 and 85, covering a combined area of 5 lakh square feet.

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.

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

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

The company will also announce its March quarter and FY23 earnings on Thursday.

As summer sets in with predictions of harsh temperatures, CK Birla firm Orient Electric expects a good growth in revenue in FY24 from its fans and cooler business, MD & CEO Rakesh Khanna said. With summer approaching, Orient Electric Ltd (OEL) expects a "natural drift" in growth coming from the fan segment, housing segment and the replacement market. "Lighting will also grow well for us as in B2B, we are growing fast. Coolers, in the last three years, have faced headwinds because of COVID and this is the first year after COVID... Summer is likely to be very good, so cooler is going to do very well," Khanna told PTI. Asked about early trends from its dealers and channel partners, he said for cooler, growth is taking place. "For fan, January was muted but now it is taking off." OEL operates in consumer durables, lighting and switchgear products. In 2021-22, its revenue from operations was Rs 2,448 crore. It has two segments, Electrical Consumer Durables (ECD), which contributed 73 .

The Department for Promotion of Industry and Internal Trade (DPIIT) is looking to bring air coolers, bicycles and bottled water dispensers under the quality norms, a move aimed at containing the import of sub-standard goods and boosting the domestic industry. The department has floated draft control orders (QCOs) for 16 products. The other light-engineering industry products for which these norms are under consideration include pumps, door fittings, cookware and utensils, electrical accessories, communication cable and water meters. "All the industry, apex industry/ associations, sectoral industry/ association, regional industry/ association, respective administrative ministries, concerned R & D institutions/ organizations are requested to furnish their comments on the draft QCOs to this department by January 15," it said. The items under these orders cannot be produced, sold/traded, imported and stocked unless they bear the Bureau of Indian Standards (BIS) mark. The DPIIT is in .

As per Croma's 'Unboxed Summer 2022' report, sales of refrigerators have shot up more than 100 per cent over 2021, while those of air conditioners (ACs) jumped by three times

Not only are air coolers cheaper than ACs, but also more energy efficient and easier to maintain. Some varieties are portable and most enable user mobility as well

This increase in demand amounts to over 28 per cent from April 1, 2022, when the city clocked 4,469 MW power demand

The world's largest manufacturer of air-coolers is not only witnessing a spike in share of e-commerce platforms such as Amazon and Flipkart in its domestic sales but also from its D2C website

Voltas Ltd on Friday reported 24.93 per cent decline in The Tata group firm had posted a consolidated net profit of Rs 128.64 crore for the year-ago period, Voltas said in a regulatory filing

Air conditioners and refrigerators use hydrofluorocarbons, which heat up the earth.

The Tata group firm had posted a consolidated net profit of Rs 81.77 crore in the April-June quarter last fiscal, Voltas said in a regulatory filing.

The management expects gross margin on domestic sales for FY22 to be back to normal margin of around 50 per cent

The firm had a 'bad summer season'