Voltas

The Delhi State Consumer Disputes Redressal Commission has directed Voltas Ltd to pay Rs 10,000 to a consumer for failing to repair an air conditioner (AC) unit, observing that it caused him mental agony and physical distress during the summer months. The Commission was hearing the appeal of the consumer seeking enhancement of the Rs 2,000 compensation awarded by a district forum for failing to repair or service a defective AC unit. The Commission comprising its president Justice Sangita Dhingra Sehgal and member Pinki noted the evidence before it and said, "We have no hesitation in observing that the deficiency in service from the respondent (Voltas) is limited to the failure of servicing and repairing the AC during the extended warranty period." The order passed on November 6 said expenses for the repairs cannot be paid by the consumer. "We modify the judgment dated January 9, 2020, (of the district forum) to the extent that the respondent is hereby directed to pay compensation o

Technical charts indicate that the 5 newly added stocks to the MSCI index are favourably placed and could soar up to 19% in forthcoming trading sessions.

MSCI said there would be 156 Indian stocks in the index, but that is only one-fourth of China's 598, signalling scope for further inclusion of Indian stocks on the index

The fall in the share price came on the back of profit booking after the company posted stellar September quarter of financial year 2025 (Q2FY25) results on Tuesday, October 29, 2024

Air-conditioning maker and engineering services provider Voltas Ltd on Tuesday reported more than two-fold jump in consolidated net profit to Rs 132.83 crore for the September quarter. The increase was led by a 56 per cent volume growth from its room AC business. It had posted a consolidated net profit of Rs 35.65 crore in the July-September period a year ago, the company said in a regulatory filing. Voltas' revenue from operations was up 14.23 per cent to Rs 2,619.11 crore during the quarter under review from Rs 2,292.75 crore in the year-ago period. Total expenses of Voltas increased 10.74 per cent to Rs 2,486.89 crore in the September quarter. Voltas' total income, which includes other income, was up 16.53 per cent in the September quarter to Rs 2,754.58 crore. Shares of Voltas Ltd on Tuesday settled at Rs 1,770.50 on the BSE, up 0.47 per cent from the previous close.

As many as 38 companies, including Daikin, Voltas and Blue Star have filed applications with proposed investments of Rs 4,121 crore to avail benefits under the production-linked incentive scheme for white goods in the third round, an official said on Monday. The government in July reopened the application window for its Rs 6,238-crore production-linked incentive (PLI) scheme for air-conditioners (ACs) and LED lights to accommodate more players as several firms expressed interest in the initiative. Among the applicants, 20 are for AC components (Rs 3,679 crore) and 18 for LED Lights (Rs 442 crore). Joint Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Sanjiv said that the scheme is benefitting the sector as the value addition has increased from 25 per cent to about 50 per cent. According to the industry, the value addition would increase to about 80 per cent in the coming years. He said that over the next three years (till 2028-29), 38 companies are

Stocks with long buildup in August series: Key levels to track on Voltas, Naukri and Laurus Labs as these stocks could potentially gain up to 9 per cent from present levels.

Voltas saw strong growth in both UCP (Unitary Cooling product) and EMPS (electro mechanical projects) segments. It reported a profit in EMPS versus expectations of loss

Air conditioning maker and engineering services provider Voltas Ltd on Monday reported an over two-fold jump in consolidated net profit at Rs 335 crore for the first quarter ended June 30, 2024, led by a "significant volume growth" from its room AC business. Besides, the Tata Group firm also achieved the "milestone" of one million units of AC sales in Q1 FY25" and its total income crossed Rs 5,000-crore mark in the June quarter. It had posted a consolidated net profit of Rs 129.42 crore in the April-June period a year ago, The company said in a regulatory filing. Voltas' revenue from operations was up 46.46 per cent in the June quarter. It was at Rs 3,359.86 crore in the corresponding quarter a year ago. Total expenses of Voltas increased 41.44 per cent to Rs 4,520.40 crore in the June quarter of FY25. Voltas' total income in the June quarter was up 45.81 per cent to Rs 5,001.27 crore. In the first quarter of this financial year, Voltas' revenue from "unitary cooling products for

Voltas share price record high: The unitary cooling products business, which accounts for 76 per cent of total income, continued to outperform the market

Distribution expansion, launches may perk up firm's showing

The India room air-conditioners (RAC) market is likely to grow at a healthy CAGR of 12 per cent to reach Rs 50,000 crore by FY 2028-29, Tata group firm Voltas said in its latest annual report. The competition in the Indian RAC market has "intensified" with the presence of homegrown and leading foreign players, said Voltas, a market leader in the segment. Moreover, the competitive "intensity is going to increase" further in the near future, the company said while discussing challenges and opportunities. Factors like increasingly hot summers, rising disposable incomes, and the quest for a better lifestyle with easy access to consumer finance are likely to drive growth for this room air-conditioner segment. "The Indian RAC market is expected to grow at a healthy CAGR of 12 per cent to reach a figure of Rs 50,000 crores by 2028-29," said Voltas. Voltas sold over 2 million AC units in 2023-24, which, according to the company, was the highest number of ACs ever sold by any brand in a si

The blistering heatwave this year has skyrocketed the demand for room air-conditioners across the country, expecting a record annual sale of around 14 million units, according to the Consumer Electronics and Appliances Manufacturers Association. The industry had "record-breaking figures" for sales of air-conditioners in May and expects a surge of 30 to 40 per cent in volume growth in summers alone, Consumer Electronics and Appliances Manufacturers Association (CEAMA) President Sunil Vachani told PTI. Soaring temperatures and heat waves have now made AC a "quintessential requirement" for households across urban areas, he said. The Indian AC market is also evolving helped by energy-efficient models that are suitable across income brackets and by investment by the companies in indigenous manufacturing units of components. "As the market evolves, we expect annual sales volumes to be around 14 million units, highlighting the sector's robust expansion," Vachani said. The Indian resident

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

Voltas stock price update: The domestic projects continues to grow its order pad and retain a positive outlook given the increased infrastructure spending in the country, the company said

United Breweries announced a more than five-fold increase in net profit to Rs 80.15 crore for the January-March period of 2023-24 compared to the same period last year

Air conditioning and engineering services provider Voltas Ltd on Tuesday reported a 22.75 per cent decline in consolidated net profit to Rs 110.64 crore in the fourth quarter ended March 31, 2024, impacted by higher expenses. The company had posted a consolidated net profit of Rs 143.23 crore in the same period previous fiscal, Voltas said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 4,202.88 crore as against Rs 2,956.8 crore in the year-ago period, it added. Total expenses in the fourth quarter were higher at Rs 4,044.90 crore compared to Rs 2,761.45 crore in the corresponding period a year ago. In the fourth quarter the unitary cooling products business segment revenue grew by 44 per cent to Rs 2,955 crore as compared to Rs 2,049 crore in the corresponding quarter of the previous year on account of a better product mix enhancement approach, the company said. The engineering products and services division clocked revenue

The Indian govt might consider permitting certain Chinese investments in India, with each venture evaluated based on its individual merit

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.

Voltas became the first Indian company to top the 2 million AC units sales in a financial year. Voltas said the performance was attributed to a consistent demand for cooling products during the year