Voltas Limited sets record with highest ever AC sales in India for FY 2023-24
In a landmark achievement for the Indian consumer electronics market, Voltas Limited, the leading air conditioning brand under the prestigious Tata Group umbrella, has announced record-breaking sales for the fiscal year 2023-24. With over two million air conditioning units sold, Voltas has set a new industry standard, experiencing a remarkable 35% growth in volume. This significant milestone underscores the brand’s dominant position in the market, attributed to its consistent demand for cooling products, robust offline and online distribution network, unparalleled brand equity, and series of innovative product launches.
Pradeep Bakshi, Managing Director and CEO of Voltas Limited, expressed his pride in this historic achievement, stating, “We are delighted to achieve this extraordinary milestone of achieving 2 million ACs in FY 2023 – 24, which is an industry first. Almost 70 years ago, Tata Sons and Volkart Brothers came together to start Voltas in India. Today, we stand as leaders across all our businesses, with significant leads over our competitors. This success is a testament to our wide presence, focus on emerging retail channels, excellent distribution network, and attractive consumer offers. We extend our heartfelt thanks to all our business partners and customers for making us the undisputed leader.”
For over a decade, Voltas has maintained its position as the market leader in the Air Conditioner category, consistently outperforming the competition. The company is now poised to expand its retail and distribution network further, aiming to enhance its product portfolio and secure an additional edge in the market. Additionally, Voltas has seen substantial volume growth in other cooling products, including air coolers and commercial refrigeration.
Voltas Beko, the brand’s home appliances division, also reported a notable 52% volume growth in the fourth quarter of FY 2023-24, nearly reaching 2 million home appliances (refrigerators and washing machines) sales for the fiscal year. In total, Voltas sold approximately 5 million consumer products to satisfied customers across India in FY 2023-24, marking a significant achievement in the company’s history.
Voltas Limited’s record sales achievement not only reinforces its market leadership in the air conditioning sector but also reflects the growing demand for cooling products in India. As the company continues to innovate and expand its product range and distribution channels, Voltas is well-positioned to meet the evolving needs of consumers and maintain its leadership in the competitive consumer electronics market.