Voltas AC Sales BOOM! : Voltas, a leading Indian manufacturer of air conditioners and home appliances, has reported a Financial year, achieving record-breaking sales figures and propelling its stock price to a new 52-week high.
The company announced it sold a staggering 2 million AC units during the 2023-24 financial year, marking the highest volume ever recorded by any brand in India. This impressive feat translates to a remarkable 35% growth in AC sales compared to the previous year.
Voltas’ success extends beyond air conditioners. The company also witnessed significant volume growth in other cooling products, including air coolers and commercial refrigeration solutions. Their home appliance brand, Voltas Beko, experienced a phenomenal 52% surge in sales during the last quarter, reaching nearly 2 million units sold throughout the financial year. This translates to a total of almost 5 million consumer products sold by Voltas.
“We are thrilled to achieve this extraordinary milestone of reaching 2 million AC sales in FY 2023-24, a first for the Indian industry,”
said Pradeep Bakshi, Managing Director & CEO of Voltas. “It’s important to highlight that none of our competitors in this category even come close to our current position.”
This news comes on the heels of a recent surge in Voltas’ stock price, fueled in part by anticipation of a scorching summer due to extreme weather conditions. While some analysts speculate a heatwave could further boost sales of summer products, ICICI Securities remains cautious, citing historical data that doesn’t necessarily support a direct correlation.
Regardless, Voltas’ impressive sales performance and soaring stock price solidify the company’s position as a leader in the Indian consumer durables market.
Voltas AC Sales BOOM! Key Takeaways:
- Record-Breaking Sales: Voltas sold a staggering 2 million AC units in FY 2023-24, the highest ever recorded by any brand in India.
- 35% Sales Growth: This translates to a significant 35% increase in AC sales compared to the previous year.
- Success Beyond AC: Voltas also saw growth in other cooling products and home appliances, with their Voltas Beko brand experiencing a 52% surge in sales.
- Market Leader: This performance solidifies Voltas’ position as a leader in the Indian consumer durables market.
- Soaring Stock Price: The record sales propelled Voltas’ stock price to a new 52-week high
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Disclaimer: This information is based on expert opinions and not financial advice. Always do your research and consult with a financial advisor before making any investment decisions.
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