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Voltas

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Voltas Limited
Company typePublic
ISININE226A01021
Industry
Founded1954; 70 years ago (1954)[1]
HeadquartersMumbai, India,
India
Area served
Worldwide
Key people
Pradeep Bakshi (MD & CEO)
ProductsMajor appliances
Small appliances
Consumer electronics
RevenueIncrease ₹7,888 crore (US$950 million) (2020)[2]
Increase ₹834 crore (US$100 million) (2020)[2]
Increase ₹589 crore (US$71 million) (2020)[2]
Total assetsIncrease ₹8,156 crore (US$980 million) (2020)[2]
Total equityIncrease ₹4,247 crore (US$510 million) (2020)[2]
Number of employees
8,800+ (2020)[2]
ParentTata Group
Websitewww.voltas.com

Voltas Limited is an Indian multinational home appliances and consumer electronics company headquartered in Mumbai, Maharashtra, India. It designs, develops, manufactures and sells products including Air Conditioners, Air Coolers, Refrigerators, Washing machines, Dishwashers, Microwaves, Air purifiers, Water dispensers. The company was incorporated on 6 September 1954 in Mumbai, as a collaboration between Tata Sons and Volkart Brothers. The Chairman of the company is Noel Tata[3] and the Managing Director and Chief Executive Officer of the company is Pradeep Bakshi.[4] Its shares are traded on the Bombay Stock Exchange under symbol 500575.

Operations

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

The Unitary Products business group manufacture products in categories including air conditioners, air coolers,[5] commercial refrigerators, water coolers, and water dispensers. Voltas[6] is the largest air-conditioning brand in India. It started manufacturing air conditioners in the 1960s under license from Carrier Corporation [7] Voltas produced India's first window air conditioner with DC-inverter-based variable-speed motors.[8] 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.[9] Voltas also has a large network of repair centers. The firm is also a major producer of evaporative coolers,[10] 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.[11]

Voltas has completed many international projects till date including air conditioning in the world's tallest building, the Burj Khalifa,[3][4] 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.

Awards and recognition

Voltas won National Energy Conservation Award 2021

Voltas won Maximum Customer Service Best Practices Sessions At Business Excellence Convention 2021

Voltas won the first prize in the category ‘Manufacturers of BEE Star Labeled Appliances (Air Conditioner)’,[12] as part of the National Energy Conservation Awards 2015. The company had previously won the same award in December 2013.

Voltas won the Silver APAC Effie Award[13] in the Sustained Success category in 2015 for its “Humanizing technology in India” entry. Apart from Effie, Voltas also won the gold at the Asia Awards of the World Advertising Research Centre (WARC).[14] In 2014, Voltas was ranked 39th among India's most trusted brands according to the Brand Trust Report, a study conducted by Trust Research Advisory.[4]

References

  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". moneycontrol.com.
  3. ^ a b Mukherjee, Writankar (2 August 2017). "Voltas appoints Noel Tata as chairman from September". The Economic Times. Retrieved 23 January 2018.
  4. ^ a b Mukherjee, Writankar (16 October 2017). "Voltas elevates Pradeep Bakshi as MD and CEO". The Economic Times. Retrieved 23 January 2018.
  5. ^ 5, May; 2015; Ist, 02 26 Pm, Voltas forays into air coolers to reach larger masses | The Economic Times Video | ET Now, retrieved 23 January 2018 {{citation}}: |last1= has numeric name (help)CS1 maint: numeric names: authors list (link)
  6. ^ www.ETBrandEquity.com. "Brand wars: Korean AC companies feel the heat - ET BrandEquity". ETBrandEquity.com. Retrieved 23 January 2018.
  7. ^ https://www.voltas.com/history [dead link]
  8. ^ "Voltas launches India's first Window AC with Inverter Technology". www.voltas.com. Retrieved 22 February 2018.
  9. ^ "12 Best Air Conditioners in India 2021 – Buyer's Guide & Reviews". www.bestac.in. Retrieved 17 April 2021.
  10. ^ Bulls, Equity (14 March 2018). "VOLTAS fortifies its leadership position by introducing its 2018 range of cooling products - EquityBulls.com". equitybulls.com. Retrieved 16 March 2018.
  11. ^ 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.
  12. ^ indiainfoline.com. "Voltas wins National Energy Conservation Award 2015". Retrieved 23 January 2018.
  13. ^ "India wins 18 medals at APAC Effies". www.afaqs.com. Retrieved 23 January 2018.
  14. ^ Tata.com. "Voltas all-weather ACs win yet another international gold via @tatacompanies". tata.com. Retrieved 23 January 2018.
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