List of Top AC [ Air Conditioners ] Company in India

Here is the list of Top AC [ Air Conditioners ] company in India listed on the stock market

  • Voltas Ltd
  • Blue Star Ltd
  • Johnson Controls-Hitachi Air Conditioning India Limited
  • Amber Enterprises India Ltd
  • LEEL Electricals Ltd

List of Top AC [ Air Conditioners ] Company in India

#1. Voltas Ltd

Voltas Ltd is the largest AC company in India based on market share with a market cap of  18,202 Cr. in 2020

IndustryConsumer Electronics
Founded1954; 66 years ago
Parent OrganizationTata Group
Managing Director & CEOPradeep Bakshi

Incorporated in 1954, Voltas Limited is a part of the Tata Group.

It is India’s largest air conditioning company and one of the world’s premier engineering solutions providers and project specialists.

BUSINESS SEGMENTS

The company’s operations are classified under three major business segments:

  • Unitary Products
  • Engineering Projects
  • Engineering Products and Services.

REVENUE BREAK-UP(%)

Voltas ltd-revenue break-up

Unitary Products business deals with a wide variety of cooling appliances
such as air conditioners (ACs), air coolers, commercial refrigeration products including freezers, visi coolers, and water dispensers, among others.

  • It is the undisputed market leaders in the air conditioning space
  • The brand continues to enjoy a leading position in the commercial refrigeration and air coolers segments.
  • It enjoys a leadership position in the room ACs segment with a market share of 23.7% and a sale of over 1.2 million AC products annually. Its distribution network covers an enviable 15,000 touch points in India.

WIDE RANGE OF COOLING PRODUCTS

Voltas Ltd -WIDE RANGE OF COOLING PRODUCTS
  • Fixed speed split air conditioners
  • Inverter air conditioners
  • Window air conditioners
  • Air Coolers
  • Commercial Refrigeration Products

MARKET SHARE

Voltas Ltd-AC company in india Market share
Market share History

Projects business operates both within the country – Domestic Projects
Group (DPG) and overseas – International Operations Business Group (IOBG).

CURRENT YEAR FINANCIAL DATA

  • Market Cap:  18,202 Cr.
  • Current Price:  550.10
  • 52 weeks High / Low  741.00 / 427.45
  • Book Value:  129.36
  • Stock P/E: 33.05
  • Dividend Yield: 0.73 %
  • ROCE: 17.06 %
  • ROE: 12.88 %
  • Sales Growth (3Yrs): 7.59 %

BONUS SHARE ISSUE HISTORY

Bonus History (Voltas)

DateBonus Ratio
30-01-19891:2
23-08-19811:4
23-08-19701:5
23-08-19661:5

FINANCIAL PERFORMANCE IN LAST 10 YEARS

Year20102020CAGR 
Growth(%)
Sales4,7577,6584.88%
Profit3815173.10%
Share Price166.19550.1012.72%

#2. Johnson Controls-Hitachi Air Condition India Ltd

Johnson Controls-Hitachi Air Condition India Ltd is the second largest AC company in India with a market cap of 5,918 Cr. in 2020

IndustryConsumer Electronics
Founded2015
ParentJohnson Controls
MD & ChairmanMr. Gurmeet Singh

The company is a joint-venture between two organizations, the US-based Johnson Controls and Japan-based, Hitachi Appliances.

Johnson Controls-Hitachi Air Conditioning India Limited (JCH-IN) today has emerged as one of the main players in the Indian air-conditioning market.

JCH-IN is involved in the business of manufacturing and marketing an extensive range of air-conditioning solutions for both commercial and residential categories.

PRODUCT PORTFOLIO

Johnson Controls-Hitachi Air Conditioning India Limited product portfolio

CURRENT YEAR FINANCIAL DATA

  • Market Cap:  5,918 Cr.
  • Current Price:  2,177
  • 52 weeks High / Low  3484.40 / 1470.00
  • Book Value:  253.22
  • Stock P/E: 70.69
  • Dividend Yield: 0.07 %
  • ROCE: 20.00 %
  • ROE: 14.97 %
  • Sales Growth (3Yrs): 10.96 %

FINANCIAL PERFORMANCE IN LAST 10 YEARS

Year20102020CAGR 
Growth(%)
Sales6412,19713.11%
Profit46846.21%
Share Price180.78 2,17728.25%

#3. Blue Star Ltd

Bluestar ltd is the third largest AC company in India with a market cap of 4,672 Cr. in 2020

Industry Consumer Electronics
Founded1943 
FounderMohan T Advan
ChairmanShailesh Haribhakti
MDB Thiagarajan

Blue Star Ltd is India’s leading central air-conditioning and commercial refrigeration company, with over seven decades of experience in providing expert cooling solutions.

The company continued its dominant presence with a market share of
12.50%
in the room air-conditioner segment in India.

Blue star ltd- AC company in india market share

The company fulfills cooling requirements and provides end-to-end solutions as a manufacturer, contractor, and after-sales service provider to corporate, commercial, residential, and institutional customers.

The company has more than 2,900 channels partners with around 6000 stores in 575 locations for room air conditioners, packaged air conditioning, chillers, cold rooms, and refrigeration products and systems.

Its manufacturing facilities are spread across various locations in India including Ahmedabad, Dadra, Thane and Himachal Pradesh

BUSINESS SEGMENTS

Business is classified into three segments

  • Electro-Mechanical Project business
  • Unitary Products
  • Professional Equipment’s & Industrial Systems

REVENUE BREAK-UP

Blue star ltd-Revenue break up

Unitary Products Business :

In the Unitary Products segment, BSL offers room air conditioners for residential as well as commercial applications.

BSL also manufactures & markets commercial refrigeration products and cold chain equipment.

The company also has kitchen refrigeration products, supermarket refrigeration products, medical refrigeration products, water purifiers, air purifiers, and air coolers in its product portfolio.

Electro-Mechanical Project business

The EMP segment covers the design, manufacturing, installation, commissioning, and maintenance of central airconditioning plants, packaged/ducted systems, and variant refrigerant flow systems. The company also undertakes contracting services in electrification, plumbing, and fire-fighting.

Professional Equipment’s & Industrial Systems

In the PEIS segment, BSL has been a distributor in India for manufacturers of professional electronic equipment & services, as well as industrial products & systems

WIDE RANGE OF COOLING PRODUCTS

  • Inverter Split AC
  • Window AC
  • Portable AC
  • Air Cooler
  • Air Purifier and many more

CURRENT YEAR FINANCIAL DATA

  • Market Cap:  4,672 Cr.
  • Current Price:  485.10
  • 52 weeks High / Low  887.55 / 408.90
  • Book Value:  88.22
  • Stock P/E: 38.07
  • Dividend Yield: 2.06 %
  • ROCE: 19.50 %
  • ROE: 14.75 %
  • Sales Growth (3Yrs): 10.66 %

BONUS SHARE ISSUE HISTORY

Bonus History (Blue Star)

DateBonus Ratio
08-09-19951:1
07-10-19911:1
07-10-19873:5
29-04-19833:5
29-04-19791:2
29-04-19753:10

FINANCIAL PERFORMANCE IN LAST 10 YEARS

Year20102020CAGR 
Growth(%)
Sales2,5254,7866.60%
Profit211121-5.41%
Share Price353485.103.23%

#4. Amber Enterprises India Ltd

IndustryConsumer Electronics
Founded1990
Chairman & CEOJasbir Singh
MDMr. Daljit Singh

Amber Group is a prominent solution provider for the AC OEM/ODM company in India.

The group supplies to leading brands, such as Voltas, Panasonic, LG, Daikin, Hitachi, Whirlpool, Godrej, and Blue Star, which account for nearly 75% of the domestic refrigeration and air conditioning (RAC) market.

Amber’s clientele is fairly diversified, with the top five customers accounting for 68% of revenue in fiscal 2019.

The manufacturing facilities are in Dehradun (Uttarakhand), Rajpura (Punjab), Jhajjar (Haryana), Kala Amb (Himachal Pradesh), Greater Noida (Uttar Pradesh), and Pune (Maharashtra).

BUSINESS SEGMENTS

Room Air conditioners

The Company designs and manufactures complete RACs including window air conditioners (WACs) and indoor units (IDUs) and outdoor units (ODUs) of split air conditioners (SACs) with specifications ranging from 0.75 ton to 2 ton.

It also designs and manufactures Inverter RACs ranging from 1 ton to 2 ton

Room Air conditioner components

The company is a manufacturer of functional components of Room Air conditioners that include heat exchangers, motors and multi-flow condensers and inverter PCB Boards with other components such as sheet metals components, copper tubing and including plastic extrusion, vacuum forming, and injection molding components

Non-Air conditioner components

The company along with ACs also manufactures NonAir conditioner components like washing machine tubs, Printed Circuit Boards (PCB), case liners for refrigerators, washing machines, microwave oven and extruded for refrigerators and sheet metal parts for various application including automobiles

CURRENT YEAR FINANCIAL DATA

  • Market Cap:  4,634 Cr.
  • Current Price:  1,474
  • 52 weeks High / Low  1695.00 / 750.00
  • Book Value:  358.83
  • Stock P/E: 29.25
  • Dividend Yield: 0.22 %
  • ROCE: 14.35 %
  • ROE: 9.96 %
  • Sales Growth (3Yrs): 35.64 %

#5. LEEL Electricals Ltd

IndustryIndustrial Machinery
Founded1987
MDBharat Raj Punj

LEEL Electricals Ltd was incorporated in 1987 and operates in HVAC segment.

It is engaged in the manufacturing of condenser and evaporator coils and contract manufacturing for Air Conditioners (ACs) for various brands.

LEEL was also into retailing of ACs and consumer durable products like LCD/ LED TVs, washing machines, freezers, etc.

LEEL has six manufacturing/ assembly units located at Rajasthan, Himachal Pradesh, Tamil Nadu, Haryana and Uttarakhand.

CURRENT YEAR FINANCIAL DATA

  • Market Cap:  10.08 Cr.
  • Current Price:  2.50
  • 52 weeks High / Low  7.35 / 2.31
  • Book Value:  325.25
  • Stock P/E: 0.21
  • Dividend Yield: 0.00 %
  • ROCE: 5.93 %
  • ROE: 2.69 %
  • Sales Growth (3Yrs): 2.51 %

FINANCIAL PERFORMANCE IN LAST 10 YEARS

Year20102019CAGR 
Growth(%)
Sales67614228.61%
Profit34-236
Share Price59.892.50-29.74%

Data taken from www.screener.in

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