Voltas cools with 20% volume jump amid economic slowdown

Mumbai: Undeterred by the deepening economic slump, seen most acutely in the auto and FMCG sectors, air-conditioner maker Voltas is eyeing a 20 per cent volume growth this fiscal year.

The Tata Group company, which sold 1.25 million in FY19, is expecting volume to touch 1.5 million units by March. “We have set a target of 3.5 million by 2025. For this fiscal, we are confident of reaching 1.5 million units,” managing director and chief executive Pradeep Bakshi told reporters.

When asked if the overall slowdown could hamper their plans, he said, “AC penetration is barely 3-4 per cent in the country. Despite the slowdown, AC demand, in fact, grew this year so far, thanks to the unprecedented heat-wave this year.” Bakshi also expects the ongoing festive season to drive demand. Meanwhile, Voltas has partnered with group firm Tata Power to promote energy-efficient ACs. Under this, Tata Power consumers in the city can exchange their ACs for Voltas’ 5- star-rated inverter split ACs.

Also, it is offering up to 50 per cent discount on 5-star-rated ACs till 31 December, Tata Power chief executive Praveer Sinha said. Meanwhile, Tata Power tied up with Microsoft’s mobile app service Kaizala to offer a special service to its customers in Mumbai. The app will enable Tata Power to connect and coordinate work with the entire value chain, including field employees, vendors, partners, and customers. Consumers will be able to pay electricity bills using this Kaizala app, said Microsoft India chief operating officer Meetul Patel.