As the AC manufacturer revealed that it sold 2 million units in FY24, Voltas shares reached their upper circuit of 10% and set a new 52-week high of Rs 1,392 in early trading on 8 April.

The company achieved the highest-ever sales of ACs by any brand during a financial year in India, with 2 million ACs sold during the fiscal year 2023-24. According to the company’s business report, the sales showed a 35% increase in volume within the AC segment.

Voltas also saw an increase in volume sales of other cooling products, such as air coolers and goods for commercial refrigeration.

In Q4FY24, Voltas Beko, the home appliance brand, experienced a 52% increase in volume. During the fiscal year, it sold about 2 million household equipment, such as washing machines and refrigerators. Voltas sold almost 5 million consumer goods overall.

Pradeep Bakshi, MD & CEO of Voltas, said, “We are delighted to achieve this extraordinary milestone of achieving 2 million ACs in FY 2023-24, which is an industry first. We would like to reiterate that none of our competitors within the category are anywhere close to where we stand today.”

Due to severe weather, the Met Office issued warnings of a heatwave on 2 April, which resulted in a spike in stock prices for consumer durables businesses, including Voltas and Havells India.

Voltas’s stock has increased by about 60% in value within the last six months. Through the same period, the domestic benchmark, the Nifty 50, has increased by about 15%

At 3:30 pm, the shares of Voltas closed 6.29% higher at Rs 1,309.80 on NSE.