This Tata Group Stock, engaged in manufacturing and providing engineering solutions, including air conditioning, washing machines, refrigeration, and electro-mechanical projects, along with Whirlpool of India Limited, jumped up to 5 percent after Panasonic exited the washing machine and refrigerator segments in India.
With a market capitalization of Rs. 43,546.09 crore, the shares of Voltas Limited reached an intraday high at Rs. 1340.10 per equity share, rising nearly 2.26 percent from its previous day’s close price of Rs. 1310.50. Similarly, Whirlpool of India Limited jumped 5.17 percent to reach an intraday high of Rs. 1,452.75 per equity share.
Panasonic Holdings has decided to exit the washing machine and refrigerator business in India. The company made this decision because it was not able to gain a strong market presence in these two product categories.
According to market data, Panasonic had only a 1.8 percent share in washing machines and just 0.8 percent in refrigerators, as reported by ET. With heavy competition from big brands like LG, Samsung, and Haier, it was becoming difficult for Panasonic to grow in these segments. As a result, the company is shutting down the production line for these products at its factory in Jhajjar, Haryana, which also makes products for other brands.
Instead of continuing in these low-performing areas, Panasonic wants to focus on business areas where it sees more growth and better opportunities. The company plans to invest more in air-conditioners, televisions, home automation, and energy solutions.
These are considered “future-ready” categories that are expected to grow fast in the coming years. By focusing on these areas, Panasonic believes it can use its resources better and become more successful in the Indian market.
Though some workers may lose their jobs due to this change, Panasonic has said it will try to support affected employees and help them move into new roles, if possible. The company is also helping dealers sell off the remaining stock and will continue to offer customer service, including warranty and spare parts. This move is part of a global strategy to focus on profitable and promising business areas, not just in India, but across all markets where Panasonic operates.
The exit of Panasonic from India’s refrigerator and washing machine segments has impacted stock performance in the consumer electronics sector. Shares of competitors like Whirlpool of India and Voltas surged by up to 5 percent on June 26, 2025, as investors anticipated these companies would capture the market share vacated by Panasonic.
Voltas Limited: Washing Machine and Refrigerator Segment’s Growth
Voltas Beko, part of Voltas Limited, delivered strong growth in FY 2024-25 despite slow industry performance. While the overall market saw low growth in washing machines and refrigerators, Voltas Beko sold over 1 million units and achieved 57 percent volume growth. The brand’s market share rose to 8.7 percent in washing machines and 5.3 percent in refrigerators by February 2025. It also became the second-largest player in semi-automatic washing machines with a 15.3 percent market share.
This success highlights Voltas Beko’s growing popularity and strong performance in the Unitary Cooling Products segment, which includes household appliances like ACs, refrigerators, and washing machines. The brand is now among the fastest-growing home appliance companies in India.
As of March 31, 2025, Voltas Limited’s Unitary Cooling Products segment revenue increased from Rs. 2956.12 crore in Q4 FY25 to Rs. 3458.43 Crore in Q4 FY25, which represents growth of 17.03 percent year on year.
Written By – Nikhil Naik
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