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 INTRODUCTION

ï Voltas ʹ a part of TATA Group

ï It was established in 1954 in Bombay as a JV between
M/s Volkart brothers & TATA Sons Ltd.
ï 1956- The company went public & Volkart brothers sold
their stake in the company.
ï 1961- Voltas marketed imported products.
ï 1963- First factory was established to manufacture ACs
& refrigeration equipment.
ï Later on many plants were set up to manufacture
compressors, condensers, chillers, ancillaries,
refrigerators etc;..


    
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ï Over the years Voltas tied up with
USA-based
Dunham Bush & Standard refrigeration company
Japan based
Hitachi Ltd.
ï To secure access to new technologies in air conditioning
& refrigeration market.
ï By 1990 Voltas diversified extensively in industries like
Food & beverages, forklift trucks, chemicals, pesticides,
engineering services etc..,
ï In 1996-97 the market shrunk by 9%(refrigerators) & it
was a severe blow to Voltas.
ï In 1996-97 company recorded its 1st ever loss of 170
million & also failed to pay dividend.
ï The price of stock crashed from Rs.225-Rs.21.
ï So in 1997 MD Munshi was replaced by Nawshir
Khurody.
ï A huge restructuring process was followed which
involved all the businesses of Voltas, & its finances &
human resources
ï It was decided that the company would focus on its air-
conditioning & engineering businesses.
ï This exercise finally helped Voltas improve its
profitability.
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