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
| Industry | Consumer Electronics |
| Founded | 1954; 66 years ago |
| Parent Organization | Tata Group |
| Managing Director & CEO | Pradeep 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(%)
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
- Fixed speed split air conditioners
- Inverter air conditioners
- Window air conditioners
- Air Coolers
- Commercial Refrigeration Products
MARKET SHARE
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)
| Date | Bonus Ratio |
|---|---|
| 30-01-1989 | 1:2 |
| 23-08-1981 | 1:4 |
| 23-08-1970 | 1:5 |
| 23-08-1966 | 1:5 |
FINANCIAL PERFORMANCE IN LAST 10 YEARS
| Year | 2010 | 2020 | CAGR Growth(%) |
| Sales | 4,757 | 7,658 | 4.88% |
| Profit | 381 | 517 | 3.10% |
| Share Price | 166.19 | 550.10 | 12.72% |
#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
| Industry | Consumer Electronics |
| Founded | 2015 |
| Parent | Johnson Controls |
| MD & Chairman | Mr. 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
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
| Year | 2010 | 2020 | CAGR Growth(%) |
| Sales | 641 | 2,197 | 13.11% |
| Profit | 46 | 84 | 6.21% |
| Share Price | 180.78 | 2,177 | 28.25% |
#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 |
| Founded | 1943 |
| Founder | Mohan T Advan |
| Chairman | Shailesh Haribhakti |
| MD | B 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.
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
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)
| Date | Bonus Ratio |
|---|---|
| 08-09-1995 | 1:1 |
| 07-10-1991 | 1:1 |
| 07-10-1987 | 3:5 |
| 29-04-1983 | 3:5 |
| 29-04-1979 | 1:2 |
| 29-04-1975 | 3:10 |
FINANCIAL PERFORMANCE IN LAST 10 YEARS
| Year | 2010 | 2020 | CAGR Growth(%) |
| Sales | 2,525 | 4,786 | 6.60% |
| Profit | 211 | 121 | -5.41% |
| Share Price | 353 | 485.10 | 3.23% |
#4. Amber Enterprises India Ltd
| Industry | Consumer Electronics |
| Founded | 1990 |
| Chairman & CEO | Jasbir Singh |
| MD | Mr. 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
| Industry | Industrial Machinery |
| Founded | 1987 |
| MD | Bharat 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
| Year | 2010 | 2019 | CAGR Growth(%) |
| Sales | 676 | 1422 | 8.61% |
| Profit | 34 | -236 | – |
| Share Price | 59.89 | 2.50 | -29.74% |
Data taken from www.screener.in
