Leading domestic air conditioner manufacturer Voltas reported a 35% increase in sales to more over two million units in FY24, marking an important milestone.
Voltas Reports 35% Increase in Sales
Voltas is now the first local company to achieve yearly sales of more than two million units.
The company credits the year-round demand for cooling solutions for its impressive performance.
As per the Tata Group firm, “The company achieved over 2 million AC units during this fiscal 2023-24, the highest ever sale of ACs by any brand in a financial year in India, with a volume growth of 35 per cent.”
Voltas emphasizes how its extensive retail and online distribution network contributes to increased sales.
A contributing factor to Voltas’s outstanding FY24 sales performance was the introduction of new, creative products.
The sale of more than two million AC units marks the greatest sales figures ever recorded by any brand in an Indian fiscal year. With this milestone, Voltas becomes the first brand in the Indian air conditioning market to achieve such remarkable sales figures.
Residential Air Conditioning Market To Reach 10 Million Units
The residential air conditioning market in India is projected to reach approximately 10 million units in FY24, and is anticipated to rise to 11.5 million units this year. The March quarter typically sees low sales due to moderate temperatures, however Voltas had a notable volume gain of 72% in AC sales during Q4 FY24.
As per Voltas, “Voltas registered a significant volume growth of 72 per cent in AC sales during Q4 FY24.”
Voltas continues to hold the top spot in the room air conditioner category and as the unchallenged leader of the market.
Pradeep Bakshi, MD and CEO of the company, credits the achievement to a number of elements, including brand equity, a robust distribution network, a focus on new retail channels, and a broad presence. To handle its expanding product line, Voltas is growing its network of stores and distributors.
The company’s volume of other cooling products, such as air coolers and commercial refrigeration, increased significantly.
In FY24, sales of Voltas Beko, a home appliance brand that collaborates with Turkish manufacturer Arcelik, approached two million units. In FY24, Voltas fulfilled a variety of client demands by selling five million consumer goods nationwide.
