Voltas launches new range of ACs

Mumbai, Mar 6 (UNI) Voltas Ltd, a Tata Group company, today launched a new range of window air-conditioners and split ACs in its efforts to reach Rs 10,000 crore turnover by 2010, Announcing the launch, the company said its turnover, at a compounded annual growth rate of 10 per cent, last year was Rs 1,500 crore and it expects to reach a desired turnover of Rs 10,000 crore by 2010.

Voltas had adopted a multi-pronged strategy to gain 20 per cent market share of the 15 lakh units domestic AC market. Presently, the company has a marketshare of 16 per cent, as compared to LGs at 33 per cent and Samsung's 13 per cent, while Hitachi and Carrier shared 17 per cent between them.

Pre-1993 was the glorious period for the company, as between 1993 and 2000 the market witnessed the entry of many multi-nationals like LG and Samsung.

It would invest Rs six crore for its retail expansion programme and expand its dealer base from 2,000 to 3,500 nationally. A sum of Rs 20 crore has been set aside for promotional activities.

Voltas, with its twin plants at Dadra and Uttaranchal, has a capacity of five lakh units.

UNI SN SSS VKG2215