Voltas

Voltas Limited, is an Indian multinational Home appliances company specialising in air conditioning and cooling technology. 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).

Voltas Limited
TypePublic
Industry
Founded1954 (1954)[1]
HeadquartersMumbai,
India
Area served
Worldwide
Products
Revenue ₹66.03 billion (US$930 million) (2018)[2]
₹3.4 billion (US$48 million) (2014)[2]
₹2.45 billion (US$34 million) (2014)[2]
Total assets₹47.45 billion (US$670 million) (2014)[2]
Total equity₹18.19 billion (US$260 million) (2014)[2]
Number of employees
10,000 (2017)
ParentTata Group
WebsiteVoltas official website

The company was incorporated on 6 September 1954 in Mumbai. It was a collaboration between Tata Sons and Volkart Brothers. The Chairman of the company is Mr. Noel N Tata[3] and the Managing Director and Chief Executive Officer of the company is Mr. Pradeep Bakshi.[4] Its shares are traded on the Bombay Stock Exchange under symbol 500575.

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. Voltas produced India's first window air conditioner with DC-inverter-based variable-speed motors.[7] Voltas also has a large network of repair centres. The firm is also a major producer of evaporative coolers,[8] 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.[9]

Voltas won the first prize in the category ‘Manufacturers of BEE Star Labeled Appliances (Air Conditioner)’,[10] 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[11] 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).[12] 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]

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.

References
  1. "Electro-Mechanical Solutions | Engineering Solutions Providers | Cooling Appliances". Voltas.com. Retrieved 16 July 2010.
  2. http://www.voltas.com/investor_info/images/2014/voltas_annual_report_2013-2014.pdf
  3. Mukherjee, Writankar (2 August 2017). "Voltas appoints Noel Tata as chairman from September". The Economic Times. Retrieved 23 January 2018.
  4. 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 2018CS1 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. "Voltas launches India's first Window AC with Inverter Technology". www.voltas.com. Retrieved 22 February 2018.
  8. Bulls, Equity. "VOLTAS fortifies its leadership position by introducing its 2018 range of cooling products - EquityBulls.com". equitybulls.com. Retrieved 16 March 2018.
  9. 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.
  10. indiainfoline.com. "Voltas wins National Energy Conservation Award 2015". Retrieved 23 January 2018.
  11. "India wins 18 medals at APAC Effies". www.afaqs.com. Retrieved 23 January 2018.
  12. Tata.com. "Voltas all-weather ACs win yet another international gold via @tatacompanies". tata.com. Retrieved 23 January 2018.
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