The shares of India’s largest air conditioner manufacturer gained 11.5 percent to a 52-week high price of ₹1,373.20 per share on Monday after the company achieved the highest ever sale of 2 million units of Air-Conditoners during FY24.
At 11:25 a.m., On Monday, Voltas Ltd shares were trading at ₹1,345 per share, up ₹105.10 or 9.17 percent on the National Stock Exchange from the previous close price. The company has a market capitalization of ₹44,514 crore.
According to the company’s filing, Voltas reported its highest-ever Air-Conditoners sales in FY 2023-24. The company achieved a milestone by selling over 2 million Air-Conditoners units during this fiscal year, marking the highest sales volume by any brand in India in a financial year, with a remarkable volume growth of 35%.
The company’s performance was driven by sustained demand for cooling products throughout the year, supported by the company’s robust offline and online distribution network, strong brand equity, and innovative product launches. Notably, Voltas recorded a substantial volume growth of 72% in AC sales during Q4 FY24.
In comparison to the previous quarter, operational revenue increased by 31 percent, rising from ₹2,006 crore in Q3FY24 to ₹2,626 crore in Q3FY24. Additionally, net losses decreased from ₹110 crore to ₹28 crore, as reported in the company’s exchange filing.
Moreover, the company’s return on equity dropped from 9.16 percent in FY22 to 2.47 percent in FY23. Similarly, the return on capital employed also witnessed a decline from 14.64 percent to 12.38 percent during the same period.
Voltas Limited is a premier air conditioning and engineering solutions provider and a projects specialist. Founded in India in 1954, Voltas Limited is part of the Tata Group, and in addition to Air Conditioners, Voltas also has Air Coolers, Air Purifiers, Water Dispensers, Water Coolers, Commercial Refrigeration & Air Conditioning products in its portfolio.
Voltas is one of the leading companies within the Tata group and holds a dominant position in India’s conditioning market, with a vast network of 25,000+ customer touchpoints. Additionally, it has introduced Voltas Beko Home Appliances in India through a joint venture with Arcelik.
Over the past six months, Voltas shares have witnessed a significant 56 percent increase, while over the last 12 months, its shares have surged by 62 percent.
During the December quarter, the company’s total order book surpassed ₹8,000 crores, comprising ₹5,500 crores in domestic projects and ₹3,500 crores in international projects.
Written by Omkar Chitnis
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