The shares of Voltas jumped as much as 5% to Rs 1,411 on the BSE on Monday after the Tata Group company announced that it crossed the milestone of 1 million air conditioner sales in less than three months of the ongoing FY27, achieving the landmark in record time.

Voltas said that the milestone further strengthens its dominant leadership position in the Indian room air conditioner market. “The achievement reflects strong consumer demand, the trust of millions of customers, and the Company’s continued focus on innovation, execution excellence and market expansion. It also follows a series of strategic initiatives undertaken by Voltas over the past year to strengthen its market proposition and accelerate growth,” the company said in an exchange filing on Sunday.

Voltas has refreshed its product portfolio with a clearly defined segmentation strategy, offering differentiated products across premium, mid and value segments, it said, adding that this helped the company address a wider spectrum of consumer needs while strengthening its presence across key price points and customer segments.

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The Tata Group company launched a nationwide campaign titled “India’s First. Keeping India First.” to commemorate the achievement.

What Voltas management said

Crossing the one million sales milestone within the first 3 months of a financial year is a significant achievement for Voltas, said Mukundan Menon, Managing Director at Voltas. “Achieving this landmark in record time reflects the trust consumers have placed in our brand and the strength of the execution delivered by our teams and channel partners across the country,” he added.

Menon further said that the milestone further reinforces Voltas’ position as India’s No. 1 AC brand and reflects the strength of its product portfolio, distribution network and consumer centric approach. “We thank our customers, channel partners and employees for their continued support. As the category continues to expand, we remain focused on delivering innovative products, superior consumer experiences and sustainable growth while strengthening our market leadership,” he said.
Jayant Balan, Head of room air conditioner business at Voltas, meanwhile called the milestone a “proud moment” for Voltas. “Our refreshed product portfolio, sharper market segmentation and impactful consumer communication initiatives have enabled us to connect more effectively with consumers across segments and geographies. Combined with the dedication of our dealers, distributors, retailers, service partners and employees, these efforts have helped us accelerate growth and further strengthen our dominant leadership position in the market,” he said.
Also Read | Voltas sells one million AC units in first quarter of FY27
“Summer is still on, and so is India’s trust in Voltas,” Balan said, adding that demand continued to remain encouraging across markets, and the company looks forward to building on this momentum, reaching more households across the country and achieving many more milestones in the months ahead.

Voltas share price

Voltas shares have gained 2% in one week and 6% in one month to close at Rs 1,343.40 apiece on NSE on Friday. The stock is overall down more than 2.5% in 2026 so far.

In the longer term, the shares of the company gained over 4% in one year, 72% in three years and 32% in five years. The company has a market capitalisation of nearly Rs 44,643 crore.

Also Read | Dividend alert! Last date to buy Asian Paints, HUL, Tata Power among 11 stocks for dividends worth Rs 73

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

A small-town family business in the US has created headlines after sharing a massive part of its sale proceeds with its workers. Fibrebond, a Louisiana-based electrical equipment company, was sold for $1.7 billion, and former owner Graham Walker ensured that 540 employees received a combined $240 million from the deal.

The payout means each full-time worker received around $443,000 on average, despite none of them owning any shares in the company. The unusual move came from a condition Walker added before agreeing to sell the business to power-management company Eaton.

One clause changed the lives of hundreds of workers

Fibrebond’s sale agreement included a simple condition from Walker: 15% of the money from the deal should go directly to employees who helped build the company over decades.
The bonuses began reaching workers in June and will continue through a five-year retention period. Employees need to remain with the company to receive the full amount, while workers aged above 65 were allowed to collect their benefits without waiting.

When asked why he selected 15% instead of another figure, Walker gave a short explanation: “It’s more than 10%.”

The announcement shocked many employees, with some struggling to believe the news was real. One worker reportedly wondered whether there were hidden cameras involved, while another celebrated by driving away on a golf cart with his fist raised.
“It was surreal, it was like telling people they won the lottery,” business-development executive Hector Moreno told The Wall Street Journal.

Company survived fire, downturns before finding new growth

Fibrebond was founded in 1982 by Walker’s father, Claud Walker. The company initially built structures used for telephone and electrical equipment.

The business faced major challenges over the years, including a factory fire in 1998 and a slowdown after the dot-com crash. The company’s workforce fell from about 900 employees to nearly 320 during the difficult period.

According to employees, the Walker family continued paying salaries during tough times, building a relationship based on loyalty and long-term commitment.

Data centres and AI demand pushed company towards billion-dollar deal

The company’s fortunes changed after it invested around $150 million in data-centre infrastructure.

Growing demand for cloud services during the Covid-19 period boosted business in 2020. Later, the rise of artificial intelligence infrastructure and LNG export projects increased demand further.

Over five years, Fibrebond’s sales grew nearly 400%, attracting interest from larger companies and eventually leading to the acquisition by Eaton.

Workers use bonus money for homes, retirement and family celebrations

For many employees, the payout brought major financial changes. Lesia Key, who joined Fibrebond in 1995 earning $5.35 per hour, used the money to clear her mortgage and start a clothing boutique.

Hong Blackwell, 67, retired after 16 years at the company and bought her husband a Toyota Tacoma. Moreno used his share of the money to take 25 family members on a trip to Cancún.

Walker stepped down as CEO on December 31. His family earned more than $1 billion from the company sale, while hundreds of employees received a life-changing reward from the business they helped grow.

Sanctuary Housing Association wants to bulldoze Astra House

Plans to bulldoze a vacant office block in Poynton and build 28 affordable apartments on the site have been recommended for approval.

Sanctuary Housing Association wants to demolish Astra House on Spinners Lane and replace it with 21 one-bedroom apartments and seven two-bed flats.

A report from Cheshire East’s planning officer to this week’s meeting of the northern planning committee states: “Cheshire East has a substantial shortfall in housing generally and in affordable homes. There is a proven need.

“The site is located within a settlement, it is accessible by public transport and is within a reasonable walking distance of community facilities such as shops, medical services and public open space.”

It adds: “Other benefits include investment in the local economy and the creation of jobs during the construction phase, increased support for local shops and businesses by the future occupants of the development.”

The report acknowledges the proposal is contrary to planning policy because it involves the loss of an employment site.

But it adds: “Given that the site is disused and has been vacant for some time, it is preferable for the site to have an active use as opposed to a continuing non-active use.”

The proposal includes provision for 30 parking spaces but Cheshire East’s parking standards require 35 spaces for 28 apartments.

The planning officer says: “The shortfall is not significant and the site’s good accessibility means that car ownership may be lower than in other, less sustainable locations.”

As part of the proposal, the existing green area to the south between the building and Poynton Railway Station will be retained and enhanced with landscaping, native and ornamental planting and retention of mature trees.

A seating area with central feature and picnic tables and benches will provide amenity space for use by residents.

The northern planning committee meeting takes place at 10.30am on Wednesday, June 24, at Macclesfield Town Hall.

To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal.

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