#SALES #GROWTH
In FY25, the net sales was โน50,995 cr and increased by 13.7% YoY. It sold 39.8 lakh units of two wheelers (23.1 lakh units in domestic an increase of 3% YoY and 16.7 lakh units in export market and rose by 13% YoY) and 6.7 lakh units of commercial vehicles (4.8 lakh units in domestic market and grew by 3% YoY and 1.9 lakh units in export market and expanded by 19% YoY). Revenue from exports grew by ~8% YoY. On a YoY basis, Chetak (EV) recorded revenue of ~โน5,500 cr and saw an increase of ~900 bps in its market share. In FY24, the net sales of the company was reported at โน44,870 cr (of which exports was โน14,575 cr) a rise of 23% majorly attributed to robust domestic sale in two-wheelers and three wheelers. Two wheelers (domestic) posted sale of 22.5 lakh units (~24% increase) followed by three-wheelers sale of 4.6 lakh units. Exports de-grew by 10% for twowheelers to 14.8 lakh units and by 11% YoY for threewheelers to 1.6 lakh units. Chetak sales was ~1.2 lakh units.
In FY25, the net sales was โน50,995 cr and increased by 13.7% YoY. It sold 39.8 lakh units of two wheelers (23.1 lakh units in domestic an increase of 3% YoY and 16.7 lakh units in export market and rose by 13% YoY) and 6.7 lakh units of commercial vehicles (4.8 lakh units in domestic market and grew by 3% YoY and 1.9 lakh units in export market and expanded by 19% YoY). Revenue from exports grew by ~8% YoY. On a YoY basis, Chetak (EV) recorded revenue of ~โน5,500 cr and saw an increase of ~900 bps in its market share. In FY24, the net sales of the company was reported at โน44,870 cr (of which exports was โน14,575 cr) a rise of 23% majorly attributed to robust domestic sale in two-wheelers and three wheelers. Two wheelers (domestic) posted sale of 22.5 lakh units (~24% increase) followed by three-wheelers sale of 4.6 lakh units. Exports de-grew by 10% for twowheelers to 14.8 lakh units and by 11% YoY for threewheelers to 1.6 lakh units. Chetak sales was ~1.2 lakh units.
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#EBITDA #GROWTH 5 Year CAGR15.5%
In FY25, the EBITDA was โน10,468 cr and grew by 19.5% YoY. This was led by better product mix, favorable raw material cost, improved dollar realization and operating leverage benefits. Bajaj Auto demonstrated an EBITDA increase of 35.8% YoY and stood at โน8,762 cr in FY24. This rise was owing to softening of raw material prices, better product mix and operating leverage benefits. Besides, there were certain cost control measures adopted by the company which augured well for EBITDA growth as well.
In FY25, the EBITDA was โน10,468 cr and grew by 19.5% YoY. This was led by better product mix, favorable raw material cost, improved dollar realization and operating leverage benefits. Bajaj Auto demonstrated an EBITDA increase of 35.8% YoY and stood at โน8,762 cr in FY24. This rise was owing to softening of raw material prices, better product mix and operating leverage benefits. Besides, there were certain cost control measures adopted by the company which augured well for EBITDA growth as well.
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#PAT #GROWTH 5 Year CAGR 11.0%
In FY25, the net profit was โน8,240 cr and grew by 11% YoY. Taking into consideration, the share of profit or associate of KTM, the net profit was โน7,325 cr and declined by 5% YoY. This was due to KTM's challenges became more pronounced in FY24. It reported weaker results marked by declining profits, rising costs, and elevated inventory levels across key markets. Once grappling with supply constraints now it is facing excess unsold two-wheelers. During Q4 FY25, it reported a โน335 cr net loss from its investment in associate Pierer Bajaj AG, including an impairment related to KTM AG's restructuringimpacting quarterly performance despite strong operational results. Additionally, a one-time deferred tax provision of โน211 crore was recorded in FY25 due to changes in the tax treatment of debt mutual funds, affecting post-tax earnings. In FY24, the net profit was at โน7,441 cr and expanded by 34.5% YoY.
In FY25, the net profit was โน8,240 cr and grew by 11% YoY. Taking into consideration, the share of profit or associate of KTM, the net profit was โน7,325 cr and declined by 5% YoY. This was due to KTM's challenges became more pronounced in FY24. It reported weaker results marked by declining profits, rising costs, and elevated inventory levels across key markets. Once grappling with supply constraints now it is facing excess unsold two-wheelers. During Q4 FY25, it reported a โน335 cr net loss from its investment in associate Pierer Bajaj AG, including an impairment related to KTM AG's restructuringimpacting quarterly performance despite strong operational results. Additionally, a one-time deferred tax provision of โน211 crore was recorded in FY25 due to changes in the tax treatment of debt mutual funds, affecting post-tax earnings. In FY24, the net profit was at โน7,441 cr and expanded by 34.5% YoY.
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#EBITDA #MARGIN
In FY25, the EBITDA margin was 20.5% and grew by ~100 bps YoY, despite the EV segment not being profitable yet and being a considerable contributor to revenue. This was also backed by favourable raw material cost and operating leverage benefits. In FY24, the EBITDA margin was 19.5% v/s 17.7% in FY23. The increase was led by better product mix (domestic two wheelers & three wheelers); stabilized raw material cost and operating leverage benefits.
In FY25, the EBITDA margin was 20.5% and grew by ~100 bps YoY, despite the EV segment not being profitable yet and being a considerable contributor to revenue. This was also backed by favourable raw material cost and operating leverage benefits. In FY24, the EBITDA margin was 19.5% v/s 17.7% in FY23. The increase was led by better product mix (domestic two wheelers & three wheelers); stabilized raw material cost and operating leverage benefits.
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#PAT #MARGIN
In FY25, the PAT margin was 16.2% and de-grew by 42 bps on account of higher finance cost and lower other income. Including the consideration of share of profit/associates, the PAT margin declined by 282 bps YoY to 14.4% as its associate company PBAG registered loss for the year, thereby impacting margins. In FY24, the PAT margin increased to 16.6% from 15.2% in FY23.
In FY25, the PAT margin was 16.2% and de-grew by 42 bps on account of higher finance cost and lower other income. Including the consideration of share of profit/associates, the PAT margin declined by 282 bps YoY to 14.4% as its associate company PBAG registered loss for the year, thereby impacting margins. In FY24, the PAT margin increased to 16.6% from 15.2% in FY23.
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ROCE
In FY25, the ROCE declined owing to increase in capital employed, mostly related to investments in subsidiaries and EV. The company executed buyback of 40,00,000 equity shares (on a proportionate basis comprising 1.41% of the total paid up equity shares) at โน10,000/share which was concluded on 26th Mar 2024. Number of shares pre-buyback (as on record date) was 28.3 cr shares and post-buyback it was 27.9 cr shares.
In FY25, the ROCE declined owing to increase in capital employed, mostly related to investments in subsidiaries and EV. The company executed buyback of 40,00,000 equity shares (on a proportionate basis comprising 1.41% of the total paid up equity shares) at โน10,000/share which was concluded on 26th Mar 2024. Number of shares pre-buyback (as on record date) was 28.3 cr shares and post-buyback it was 27.9 cr shares.
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MANAGEMENT Niraj Bajaj's career spans more than 35 years and he is currently serving as the Chairman of Bajaj Auto since 1st May 2021. Niraj Bajaj is on the Board of Directors of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited and is the Chairman of Bachhraj & Company, Jamnalal Sons, and various other Bajaj Group companies. Rakesh Sharma, Whole-time Director of the company, whose five-year term would be expiring on 31st December 2023, has been re-appointed for a further period of 5 years w.e.f. 1st January 2024, subject to approval of the shareholders of the company. Shri Abraham Joseph, who was holding the position of the Chief Technology Officer up to 31st March 2024, and part of Senior Management Personnel of the Company, has been appointed as the Managing Director of Chetak Technology Limited.
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#COMPANY #POTENTIAL
โข In FY25, the two wheelers sales volume was ~2 cr units in domestic markets and 41.98 lakh units in export markets as compared to ~1.79 cr units in domestic market and 34.6 lakh units in export market in FY24. The scooter segment witnessed a strong YoY uptick, with dispatches rising and its share increasing to 35% of total two-wheeler volumes (v/s 32% in FY24). In contrast, motorcycle dispatches recorded a modest YoY growth of 5.1%, accounting for the remaining volume. Within the motorcycle category, the up to 125cc segment continued to dominate, contributing the highest share. (Source: Siam) โข During the year, India's electric two-wheeler sales rose to 11,49,422 units, marking a 21% YoY growth. This momentum was fuelled by higher fuel prices, increasing urban congestion, and continued advancements in EV technology and affordability. The market remained highly consolidated, with Ola Electric, TVS Motor, and Bajaj collectively commanding over 70% share. โข In FY25, the e-3W segment sales stood at ~7 lakh units with 11% YoY growth (v/s ~6.3 lakh units in FY24) and accounted for ~57% share of the total 12.2 lakh units three-wheelers (Electric at ~7 lakh units, CNG/Petrol CNG at 3.4 lakh units, diesel at 1.4 lakh units, LPG at 33k units, petrol at 9k unit sand rest comprised others) sold in India in FY25. The e-3W segment is also the one which has, for the past three years, witnessed the highest level of transition from ICE to e-mobility. The Top 6 Players are as follows: Mahindra Last Mile Mobility (MLMM), Bajaj Auto, YC Electric Vehicles, Saera Electric Auto, Dilli Electric Auto And Piaggio Vehicles.
โข In FY25, the two wheelers sales volume was ~2 cr units in domestic markets and 41.98 lakh units in export markets as compared to ~1.79 cr units in domestic market and 34.6 lakh units in export market in FY24. The scooter segment witnessed a strong YoY uptick, with dispatches rising and its share increasing to 35% of total two-wheeler volumes (v/s 32% in FY24). In contrast, motorcycle dispatches recorded a modest YoY growth of 5.1%, accounting for the remaining volume. Within the motorcycle category, the up to 125cc segment continued to dominate, contributing the highest share. (Source: Siam) โข During the year, India's electric two-wheeler sales rose to 11,49,422 units, marking a 21% YoY growth. This momentum was fuelled by higher fuel prices, increasing urban congestion, and continued advancements in EV technology and affordability. The market remained highly consolidated, with Ola Electric, TVS Motor, and Bajaj collectively commanding over 70% share. โข In FY25, the e-3W segment sales stood at ~7 lakh units with 11% YoY growth (v/s ~6.3 lakh units in FY24) and accounted for ~57% share of the total 12.2 lakh units three-wheelers (Electric at ~7 lakh units, CNG/Petrol CNG at 3.4 lakh units, diesel at 1.4 lakh units, LPG at 33k units, petrol at 9k unit sand rest comprised others) sold in India in FY25. The e-3W segment is also the one which has, for the past three years, witnessed the highest level of transition from ICE to e-mobility. The Top 6 Players are as follows: Mahindra Last Mile Mobility (MLMM), Bajaj Auto, YC Electric Vehicles, Saera Electric Auto, Dilli Electric Auto And Piaggio Vehicles.
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#COMPANY #OUTLOOK
โข In FY25, industry growth was primarily driven by the 125cc+ motorcycle segment, which recorded a 12% YoY increase, while the entry-level 100cc segment remained stagnant. Bajaj Auto, with its strong presence in the 125cc+ category, retained its position as the second-largest player. According to Vahan data, the companyโs market share rose from 21% in FY23 to 26% in FY24 and declined to 24% in FY25. In a strategic move to regain share and push toward market leadership, Bajaj refreshed its Pulsar lineup (125cc-400cc), launching six new variants in Q4 FY25 that received a strong market response. โข The new Chetak 35 series was well received. The earlier launch of an affordable variant, combined with rapid network expansion to over 4,000 touchpoints, drove the brandโs leadership position. It launched a new variant in May 2025 and thereโs an impending new variant introduction for June as well. Further expansion is envisaged in this portfolio in FY26. โข The Probiking business - KTM and Triumph registered sales of ~1 lakh units in FY25 up 12% YoY. KTM observed accelerated growth in sales in H2 FY25 especially, basis targeted intervention towards pricing of Duke 200 and 250. Triumph doubled its volume domestically and closed the quarter with ~11,000 units on account of a new launch and upgraded version of a previously launched model. The company has also doubled its network YoY backed by sharp focus on activation in top tier II and tier III towns & cities. โข Bajaj Auto announced an additional capital infusion of ~โน1,500 cr into its wholly-owned subsidiary, Bajaj Auto Credit Ltd (BACL). The investment will be made during FY26, in multiple phases through equity capital, preference capital, or subordinated debt. โข On 21st February 2025, the company approved an investment of up to โฌ150 million (~โน1,356 crore) in its wholly owned subsidiary, Bajaj Auto International Holdings BV, Netherlands. The fundingโthrough equity, preference capital, or convertible loan, in one or more tranchesโis intended to support the subsidiaryโs future growth and investment plans.
โข Further to the disclosure dated 23rd May 2025 regarding the Call Option Agreement between BAIH and Pierer Industrie AG (PIAG), along with Pierer Konzerngesellschaft mbH (PIKO), BAIH has exercised its call option and issued a Notice of Call Exercise to PIAG for the acquisition of 26,000 shares of PBAG, for a cash consideration of EUR 26.34 million (~โน257 cr), subject to requisite regulatory approvals. Upon completion of the transaction, BAIHโs shareholding in PBAG will increase from 49.9% to 75.9%, thereby making PBAG a subsidiary of BAIH and, in turn, a subsidiary of the Company. PIAG will continue to hold the remaining 24.1% stake. โข At its meeting on 21st May 2025, the Board noted key financial transactions by BAIH to support KTM AGโs court-approved restructuring plan in Austria: Facility Agreement: BAIH executed a โฌ450 million (~โน4,365 crore) secured term loan facility to KTM. The amount was transferred to the Administratorโs escrow for creditor payments as mandated by the Austrian court. Convertible Bond Subscription: BAIH subscribed to โฌ150 million (approx. โน1,455 crore) worth of convertible bonds issued by Pierer Bajaj AG (PBAG). These steps were essential to meet Austriaโs regulatory deadline of 23rd May 2025. Non-compliance would have moved KTM into insolvency. Additionally, BAIHBV arranged an โฌ800 million (~โน7,760 crore) debt package to ensure KTMโs business continuity. โฌ200 million has already been infused; the remaining โฌ600 million is now being disbursed to complete creditor payments and revive operations. โข The immediate focus is on securing final court approvals in Austria to conclude KTMโs restructuring and settle creditor dues. Regulatory filings are underway, and the existing governance will remain in place until approvals are received. Production and supply operations are set to resume after a prolonged pause.
โข In FY25, industry growth was primarily driven by the 125cc+ motorcycle segment, which recorded a 12% YoY increase, while the entry-level 100cc segment remained stagnant. Bajaj Auto, with its strong presence in the 125cc+ category, retained its position as the second-largest player. According to Vahan data, the companyโs market share rose from 21% in FY23 to 26% in FY24 and declined to 24% in FY25. In a strategic move to regain share and push toward market leadership, Bajaj refreshed its Pulsar lineup (125cc-400cc), launching six new variants in Q4 FY25 that received a strong market response. โข The new Chetak 35 series was well received. The earlier launch of an affordable variant, combined with rapid network expansion to over 4,000 touchpoints, drove the brandโs leadership position. It launched a new variant in May 2025 and thereโs an impending new variant introduction for June as well. Further expansion is envisaged in this portfolio in FY26. โข The Probiking business - KTM and Triumph registered sales of ~1 lakh units in FY25 up 12% YoY. KTM observed accelerated growth in sales in H2 FY25 especially, basis targeted intervention towards pricing of Duke 200 and 250. Triumph doubled its volume domestically and closed the quarter with ~11,000 units on account of a new launch and upgraded version of a previously launched model. The company has also doubled its network YoY backed by sharp focus on activation in top tier II and tier III towns & cities. โข Bajaj Auto announced an additional capital infusion of ~โน1,500 cr into its wholly-owned subsidiary, Bajaj Auto Credit Ltd (BACL). The investment will be made during FY26, in multiple phases through equity capital, preference capital, or subordinated debt. โข On 21st February 2025, the company approved an investment of up to โฌ150 million (~โน1,356 crore) in its wholly owned subsidiary, Bajaj Auto International Holdings BV, Netherlands. The fundingโthrough equity, preference capital, or convertible loan, in one or more tranchesโis intended to support the subsidiaryโs future growth and investment plans.
โข Further to the disclosure dated 23rd May 2025 regarding the Call Option Agreement between BAIH and Pierer Industrie AG (PIAG), along with Pierer Konzerngesellschaft mbH (PIKO), BAIH has exercised its call option and issued a Notice of Call Exercise to PIAG for the acquisition of 26,000 shares of PBAG, for a cash consideration of EUR 26.34 million (~โน257 cr), subject to requisite regulatory approvals. Upon completion of the transaction, BAIHโs shareholding in PBAG will increase from 49.9% to 75.9%, thereby making PBAG a subsidiary of BAIH and, in turn, a subsidiary of the Company. PIAG will continue to hold the remaining 24.1% stake. โข At its meeting on 21st May 2025, the Board noted key financial transactions by BAIH to support KTM AGโs court-approved restructuring plan in Austria: Facility Agreement: BAIH executed a โฌ450 million (~โน4,365 crore) secured term loan facility to KTM. The amount was transferred to the Administratorโs escrow for creditor payments as mandated by the Austrian court. Convertible Bond Subscription: BAIH subscribed to โฌ150 million (approx. โน1,455 crore) worth of convertible bonds issued by Pierer Bajaj AG (PBAG). These steps were essential to meet Austriaโs regulatory deadline of 23rd May 2025. Non-compliance would have moved KTM into insolvency. Additionally, BAIHBV arranged an โฌ800 million (~โน7,760 crore) debt package to ensure KTMโs business continuity. โฌ200 million has already been infused; the remaining โฌ600 million is now being disbursed to complete creditor payments and revive operations. โข The immediate focus is on securing final court approvals in Austria to conclude KTMโs restructuring and settle creditor dues. Regulatory filings are underway, and the existing governance will remain in place until approvals are received. Production and supply operations are set to resume after a prolonged pause.
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Bajaj Auto 7400-8200
Expected level 9500
Support 6900
Expected level 9500
Support 6900
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๐๐จ๐ฉ ๐๐จ๐ฐ๐๐ซ ๐๐ญ๐จ๐๐ค๐ฌ ๐ข๐ง ๐๐ง๐๐ข๐!๐๐ฏ
1- NTPC
2- POWERGRID
3- ADANIPOWER
4- TATAPOWER
5- JSWENERGY
6- NHPC
7- TORNTPOWER
8- POWERINDIA
9- SJVN
10- NLCINDIA
11- KEI
12- CESC
13- IEX
14- TDPOWERSYS
15- PTC
1- NTPC
2- POWERGRID
3- ADANIPOWER
4- TATAPOWER
5- JSWENERGY
6- NHPC
7- TORNTPOWER
8- POWERINDIA
9- SJVN
10- NLCINDIA
11- KEI
12- CESC
13- IEX
14- TDPOWERSYS
15- PTC
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๐๐จ๐ฉ ๐๐๐ ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ!๐ฏ๐
1- RELIANCE
2- HDFCBANK
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12- LT
13- KOTAKBANK
14- SUNPHARMA
15- HCLTECH
16- MARUTI
17- NTPC
18- AXISBANK
19- ONGC
20- M&M
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Voltas company details report
Voltas Incorporated in 1954, Voltas Limited is a part of the Indian multinational conglomerate, the TATA Group which was formed when Swiss based Volkart Brothers joined hands with Tata Sons. It is Indiaโs largest air conditioning company and one of the most reputed engineering solutions providers, specializing in project management. Its manufacturing facilities are located at Waghodia (Gujarat), Sanand (Gujarat) and 2 units at Pantnagar (Uttarakhand). Segment - A (Unitary Cooling Products for Comfort and Commercial use - UCP) : Engaged in manufacturing, selling and after sales services of cooling appliances and cold storage products. Facilities Maintenance and Hard Services: Operations and Maintenance (O&M) contracts in various sectors, AMCs, Retrofits and Energy Management, etc. With a focus on developing cooling appliances, UCP has been a market leader in the RAC (room air conditioner) category for over a decade now. The vertical caters to business-toconsumer (B2C) and business-to-business (B2B) market requirements. It has grown to more than 25,000 touch points across the nation, with 700+ SKUs. This segment is seasonal in nature with sales generally being highest in Q1. Segment - B (Electro - Mechanical Projects and Services - EMP): Universal MEP Projects & Engineering Services Limited (UMPESL) is a 100% wholly-owned subsidiary of Voltas Ltd and engaged in mechanical, electrical and plumbing (MEP), HVAC (heating, ventilation & air conditioning), plumbing, fire fighting, extra low voltage (ELV) and specialized services. Water Solutions: comprises water treatment solutions for Industrial, oil and gas and domestic sewage segments and last mile connectivity of water tab under various government schemes. Segment - C (Engineering Products and Services) : Textile Machinery : represents leading equipment manufacturers in Textile Machinery and Mining & Construction Equipment for sale, distribution and after sales service.
Voltas Incorporated in 1954, Voltas Limited is a part of the Indian multinational conglomerate, the TATA Group which was formed when Swiss based Volkart Brothers joined hands with Tata Sons. It is Indiaโs largest air conditioning company and one of the most reputed engineering solutions providers, specializing in project management. Its manufacturing facilities are located at Waghodia (Gujarat), Sanand (Gujarat) and 2 units at Pantnagar (Uttarakhand). Segment - A (Unitary Cooling Products for Comfort and Commercial use - UCP) : Engaged in manufacturing, selling and after sales services of cooling appliances and cold storage products. Facilities Maintenance and Hard Services: Operations and Maintenance (O&M) contracts in various sectors, AMCs, Retrofits and Energy Management, etc. With a focus on developing cooling appliances, UCP has been a market leader in the RAC (room air conditioner) category for over a decade now. The vertical caters to business-toconsumer (B2C) and business-to-business (B2B) market requirements. It has grown to more than 25,000 touch points across the nation, with 700+ SKUs. This segment is seasonal in nature with sales generally being highest in Q1. Segment - B (Electro - Mechanical Projects and Services - EMP): Universal MEP Projects & Engineering Services Limited (UMPESL) is a 100% wholly-owned subsidiary of Voltas Ltd and engaged in mechanical, electrical and plumbing (MEP), HVAC (heating, ventilation & air conditioning), plumbing, fire fighting, extra low voltage (ELV) and specialized services. Water Solutions: comprises water treatment solutions for Industrial, oil and gas and domestic sewage segments and last mile connectivity of water tab under various government schemes. Segment - C (Engineering Products and Services) : Textile Machinery : represents leading equipment manufacturers in Textile Machinery and Mining & Construction Equipment for sale, distribution and after sales service.
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It has also launched its range of Voltas Beko Home Appliances, through Voltbek Home Appliances Private Limited (Voltas Beko) which is an equal partnership joint venture between Voltas Limited and Turkeyโs largest household appliances manufacturers, Arรงelik. It launched the brand โVoltas Bekoโ in September 2018 and positioned it as โPartners of Everyday Happinessโ in India. Beko, the global brand of Arรงelik A.ล., has been one of the fastest growing home appliances brand of Europe. It has been consistently increasing its footprint in the Indian home appliances segment and currently has over 15,000 consumer touchpoints. Voltas Bekoโs portfolio of products includes refrigerators, washing machines, microwaves/ovens and dishwashers. It leverages the brand name and distribution strength of the company, Voltas, and the global expertise of Arรงelik in product development. It has 300+ SKUs as on FY25. Voltas Beko crossed a cumulative volume of 7.5 million units since launch of commercial sales.
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#SALES #GROWTH 5 Year CAGR15.0%
In FY25, the revenue registered were โน15,413 cr up by 23.5% YoY. UPC segment grew by 30% on a YoY basis contributing 69% of the revenue. The revenue mix in the UCP segment was ~61% from RAC (room air conditioner), followed by ~19% from commercial air conditioning, ~15% from commercial refrigerator, and the remaining ~5% from air cooler & water heater. The company sold 2.5 million units of RAC in FY25 and 0.5 million units of coolers. For the overall air conditioner category market share was 19% as on 31st March 2025. Total carry forward order book including international projects for the segment stood at ~โน6,500 cr.
In FY25, the revenue registered were โน15,413 cr up by 23.5% YoY. UPC segment grew by 30% on a YoY basis contributing 69% of the revenue. The revenue mix in the UCP segment was ~61% from RAC (room air conditioner), followed by ~19% from commercial air conditioning, ~15% from commercial refrigerator, and the remaining ~5% from air cooler & water heater. The company sold 2.5 million units of RAC in FY25 and 0.5 million units of coolers. For the overall air conditioner category market share was 19% as on 31st March 2025. Total carry forward order book including international projects for the segment stood at ~โน6,500 cr.
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#EBITDA #GROWTH 5 Year CAGR10.2%
Key components for manufacturing of the companyโs products such as compressors, copper tubes, electronic parts, indoor units for split air conditioners and inverter drives are sourced from vendors in China and vendors in India. This is mitigated by diversifying procurement sources along with backward integration at plant. Better product mix, coupled with planned procurement of inventories helped to partially mitigate the increased cost of commodity prices and higher logistics costs. In FY25, the EBITDA was โน1,116 cr up by 135% YoY. This was majorly due to higher cost escalations and higher losses in the EMP segment.
Key components for manufacturing of the companyโs products such as compressors, copper tubes, electronic parts, indoor units for split air conditioners and inverter drives are sourced from vendors in China and vendors in India. This is mitigated by diversifying procurement sources along with backward integration at plant. Better product mix, coupled with planned procurement of inventories helped to partially mitigate the increased cost of commodity prices and higher logistics costs. In FY25, the EBITDA was โน1,116 cr up by 135% YoY. This was majorly due to higher cost escalations and higher losses in the EMP segment.
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