Voltas

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search

Voltas Limited- A TATA Enterprise

Public company (NSEVOLTAS)

(BSE500575)
Industry Home appliances
Engineering
Founded 1954[1]
Headquarters India
Area served
Worldwide
Products Air Conditioners, Air Coolers and Commercial Refrigerators
Revenue 66.03 billion (US$920 million) (2018)[2]
3.4 billion (US$47 million) (2014)[2]
2.45 billion (US$34 million) (2014)[2]
Total assets 47.45 billion (US$660 million) (2014)[2]
Total equity 18.19 billion (US$250 million) (2014)[2]
Number of employees
5,287 (2015)
Parent Tata Group
Website Voltas official website

Voltas Limited is a company in India 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).

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, 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 provided air conditioning in the world's tallest building, the Burj Khalifa[3][4] and also in the once largest ocean liner, RMS Queen Mary 2.[3]

References[edit]

  1. ^ "Electro-Mechanical Solutions | Engineering Solutions Providers | Cooling Appliances". Voltas.com. Retrieved 16 July 2010. 
  2. ^ a b c d e http://www.voltas.com/investor_info/images/2014/voltas_annual_report_2013-2014.pdf
  3. ^ a b Mukherjee, Writankar (2017-08-02). "Voltas appoints Noel Tata as chairman from September". The Economic Times. Retrieved 2018-01-23. 
  4. ^ a b Mukherjee, Writankar (2017-10-16). "Voltas elevates Pradeep Bakshi as MD and CEO". The Economic Times. Retrieved 2018-01-23. 
  5. ^ 5, May; 2015; Ist, 02 26 Pm, Voltas forays into air coolers to reach larger masses | The Economic Times Video | ET Now, retrieved 2018-01-23 
  6. ^ www.ETBrandEquity.com. "Brand wars: Korean AC companies feel the heat - ET BrandEquity". ETBrandEquity.com. Retrieved 2018-01-23. 
  7. ^ "Voltas launches India's first Window AC with Inverter Technology". www.voltas.com. Retrieved 2018-02-22. 
  8. ^ Bulls, Equity. "VOLTAS fortifies its leadership position by introducing its 2018 range of cooling products - EquityBulls.com". equitybulls.com. Retrieved 2018-03-16. 
  9. ^ Chatterjee, Purvita (2017-05-29). "Voltas targets ₹3,500-cr sales from Beko range of consumer durables". The Hindu Business Line. Retrieved 2018-01-23. 
  10. ^ indiainfoline.com. "Voltas wins National Energy Conservation Award 2015". Retrieved 2018-01-23. 
  11. ^ "India wins 18 medals at APAC Effies". www.afaqs.com. Retrieved 2018-01-23. 
  12. ^ Tata.com. "Voltas all-weather ACs win yet another international gold via @tatacompanies". tata.com. Retrieved 2018-01-23.