The Air Conditioner giant, Voltas, has announced joining hands with Atomberg to build room air conditioner compressors and parts related to such compressors in India, the company said in an exchange filing.
The proposed joint venture is intended to undertake the development, manufacturing, and supply of air conditioner compressors, with a strong emphasis on high energy efficiency, operational reliability, cost competitiveness, and progressive localization, it said.
It further aims to bring together Voltas deep understanding of the Indian room air conditioner market, product and application expertise, manufacturing ecosystem, supply chain capabilities and scale with Atomberg Innovation’s capabilities in proprietary compressor technology, first-principles engineering, product design capabilities and track record of innovation in energy efficient motors and control drives, the company said.
The announcement came while declaring the quarterly results by the company. During the June quarter of FY27, Voltas reported a 53 percent rise in its consolidated net profit to Rs 214 crore.
Revenue from operations rose by 19 percent to Rs 4673.50 crore in the June quarter against Rs 3938.58 crore in the year-ago quarter.
For the quarter, the earnings before interest, taxes, depreciation and amortization (EBITDA) was up 48.7 percent at Rs 265.5 crore in the quarter under review from Rs 178.5 crore in the year ago period. The margin increased at 5.7 percent from 4.5 percent year-on-year (YoY).
Last month, Noel Tata announced that he will step down as Chairman of Voltas, nearly a week after making a similar announcement at Trent.
Tata said Voltas has built its next generation of leadership through internal promotions and lateral hiring. He expressed confidence that the company’s management is well prepared to lead future growth across its businesses.
Voltas Announces Joint Venture With Atomberg To Build Air Conditioner Compressors
