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Voltas Q3 PAT jumps 46% YoY to Rs 128 cr

On a consolidated basis, Voltas net profit jumped 46.2% to Rs 128.64 crore on 32.5% rise in revenue from operations to Rs 1970 crore in Q3 FY21 over Q3 FY20.Consolidated profit before tax jumped 39% year on year to Rs 165.84 crore in Q3 FY21 from Rs 119.3 crore in Q3 FY20. Total tax expense spiked 18.5% year on year to Rs 37.2 crore in Q3 FY21.
The company s cooling products business made good recovery, post easing of the lockdown situation and achieved a record overall volume growth of 40% to Rs 840 crore, contributed by 43% increase in the sales volume of room Air conditioners (ACs), 100% in commercial refrigeration products and 11% in Air Coolers. Voltas continues to be the market leader and is at No.1 position in ACs with a YTD market share of 26% in December 2020. Segment revenue increased by 40% and was at Rs 840 crore as compared to Rs 601 crore in the corresponding quarter last year. ....

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Blue Star undertakes capex of Rs 130 cr for new plant at Wada

Expected to be commissioned by end of 2021Blue Star announced that the company with a capex of Rs 130 crore is in the process of setting up a new plant at its existing facility at Wada to expand the
manufacturing capacity of its deep freezers and storage water coolers, to cater to the
rising demand for commercial refrigeration products as well as leverage on the
Atmanirbhar Bharat Abhiyan.
With the new plant, Blue Star will be doubling its
production capacity for deep freezers. This new plant, being constructed on a built-up
area of around 19,300 sq m, will have a capacity to produce around 2,00,000 deep ....

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Blue Star firms up on launching new products

Blue Star gained 1.30% to Rs 826.30 after the company announced the launch of a new range of commercial refrigeration products and solutions which are ideal for storing vaccines.The company has launched ice lined refrigerators (+2C to +8C) and vaccine transporters (+8C to -20C). These products comprise specifically designed, temperature controlled refrigerators and transporters, which are integral for building a robust ecosystem for vaccine distribution in India.
Ice lined refrigerators are Ideal for vaccination programmes due to their ability to maintain a desired temperature even without power for up to as long as 48 hours, ensuring lower spoilage of vaccines while in storage through inevitable power cuts. ....

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