Business Outlook Seems Better
Despite intense competition, erratic weather conditions and price hikes due to star rating up-gradation, the Air Conditioner industry in India has grown in 2014. This growth was witnessed after a lull of almost 3 years due to stronger consumer sentiments in the Consumer Durable industry. We feel that this momentum will be further fuelled by the new Government’s outlook towards the infrastructure sector, and revival of the manufacturing sector.
Voltas as a brand not only consolidated its market leadership, but continued to outgrow the Industry. Market share touched an all-time high of 22.3% on secondary charts, with a clear lead from nearest competition.
The category is expected to witness positive sentiments after many years of muted performance. On the back drop of broader policy reforms strengthening the consumption story, business outlook for the next few quarters looks better. Easing liquidity and an expanding manufacturing sector, will further aid the momentum
At Voltas, our focused approach will continue to be on increasing retail presence, and to further intensify our service footprint. Our investment in R&D will continue, enabling us to introduce the latest and most innovative products. Our efforts to keep the brand differentiated, will be again visible in the coming summers.