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Voltas

From Wikipedia - Reading time: 10 min

Voltas Limited
Company typePublic
ISININE226A01021
Industry
Founded1954; 70 years ago (1954)[1]
HeadquartersMumbai, Maharashtra,
India
Area served
Worldwide
Key people
  • Noel Tata (Chairman)
  • Pradeep Bakshi (MD & CEO)
ProductsAir conditioning
Refrigerator
Air cooler
Washing machine
Air purifier
Dishwasher
Water cooler
Microwave oven
Water dispensers
Voltage stabilizer
RevenueIncrease ₹12,734 crore (US$1.5 billion) (2024)[2]
Increase ₹624 crore (US$75 million) (2024)[2]
Increase ₹248 crore (US$30 million) (2024)[2]
Total assetsIncrease ₹12,035 crore (US$1.4 billion) (2024)[2]
Total equityIncrease ₹5,854 crore (US$700 million) (2024)[2]
Number of employees
10,600+ (2024)[2]
ParentTata Group
Websitewww.voltas.com Edit this at Wikidata

Voltas Limited is an Indian multinational home appliances company headquartered in Mumbai. It designs, develops, manufactures and sells products including air conditioners, air coolers, refrigerators, washing machines, dishwashers, microwaves, air purifiers, water dispensers. Voltas is India's largest air conditioning company by market share.[3][4]

The company was incorporated on 6 September 1954 in Mumbai, as a collaboration between Tata Sons and Volkart Brothers. The company is currently chaired by Noel Tata[5] and Pradeep Bakshi is the company's current chief executive officer and managing director.[6]

Operations

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The company is broadly structured into projects and products business. The projects business is divided into Domestic Projects Group and International Operations Business Group. Meanwhile, the products business is classified into Unitary Products Business Group, Mining & Construction Equipment Division, and Textile Machinery Division.

The Unitary Products business group manufacture products in categories including air conditioners, air coolers,[7] commercial refrigerators, water coolers, and water dispensers. Voltas[8] is the largest air conditioning brand in India. It started manufacturing air conditioners in the 1960s under license from the Carrier Corporation.[9] Voltas produced India's first window air conditioner with DC-inverter-based variable-speed motors.[10] DC Inverter Technology is an innovative technology that provides superior cooling while reducing the frequency of turning the compressor on and off. This helps in reducing the power consumption to a greater extent.[11] Voltas also has a large network of repair centers. The firm is also a major producer of evaporative coolers,[12] which are widely used for comfort cooling in arid and semi-arid climates.

Voltas has also entered into a joint venture with Turkey-based Ardutch (a subsidiary of Arçelik, part of the Koç Group making the Beko brand of home appliances). It began producing refrigerators, air conditioners, washing machines and kitchen appliances under the name of Voltas Beko.[13]

Voltas has completed many international projects, including air conditioning in the world's tallest building, the Burj Khalifa,[5][6] in the once largest ocean liner, RMS Queen Mary 2, Palace of Sultanate of Oman, Bahrain City Centre Mall, Ferrari World Theme Park in Abu Dhabi, Sidra Medical and Research Centre in Qatar, Villaggio Mall in Qatar and Dubai's Mall of Emirates.

Voltas Beko

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VoltasBeko
Company typeJoint venture
Industry
Home appliances
Founded2017; 7 years ago (2017)[14]
HeadquartersMumbai, Maharashtra
Area served
India
Key people
Jayant Balan (CEO)
ProductsRefrigerator
Washing machine
Microwave oven
Dishwasher
ParentVoltas (50%)
Arçelik A.Ş. (50%)

Voltbek home appliances, doing business as Voltas Beko is a joint venture between India's Voltas and Turkish electronic manufacturer Beko. The joint venture was formed specifically to cater to the Indian home appliances market, leveraging the expertise and brand recognition of both parent companies.


References

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  1. ^ "Electro-Mechanical Solutions | Engineering Solutions Providers | Cooling Appliances". Voltas.com. Retrieved 16 July 2010.
  2. ^ a b c d e f "Voltas Limited Financial Statements" (PDF). bseindia.com.
  3. ^ "Here's why 2022 has been a very different year for two of India's biggest AC makers". 29 November 2022.
  4. ^ "Voltas Ltd | Consumer Durables".
  5. ^ a b Mukherjee, Writankar (2 August 2017). "Voltas appoints Noel Tata as chairman from September". The Economic Times. Retrieved 23 January 2018.
  6. ^ a b Mukherjee, Writankar (16 October 2017). "Voltas elevates Pradeep Bakshi as MD and CEO". The Economic Times. Retrieved 23 January 2018.
  7. ^ "Voltas forays into air coolers to reach larger masses", The Economic Times, 5 May 2015, retrieved 23 January 2018
  8. ^ "Brand wars: Korean AC companies feel the heat". ETBrandEquity.com. Retrieved 23 January 2018.
  9. ^ "Voltas | History". Archived from the original on 26 April 2021. Retrieved 3 June 2021.
  10. ^ "Voltas launches India's first Window AC with Inverter Technology". www.voltas.com. Archived from the original on 28 September 2018. Retrieved 22 February 2018.
  11. ^ "12 Best Air Conditioners in India 2021 – Buyer's Guide & Reviews". www.bestac.in. Retrieved 17 April 2021.
  12. ^ "Voltas fortifies its leadership position by introducing its 2018 range of cooling products - EquityBulls.com". equitybulls.com. 14 March 2018. Archived from the original on 5 December 2021. Retrieved 16 March 2018.
  13. ^ Chatterjee, Purvita (29 May 2017). "Voltas targets ₹3,500-cr sales from Beko range of consumer durables". The Hindu Business Line. Retrieved 23 January 2018.
  14. ^ Karwa, Krishna (25 September 2018). "Voltas-Beko: How the tie-up bodes for India's leading AC brand". MoneyControl. Retrieved 1 March 2024.
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Licensed under CC BY-SA 3.0 | Source: https://en.wikipedia.org/wiki/Voltas
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