Voltas Ltd. — Regulatory Filings 2019

Sep 10, 2019

Voltas and Tata Power partner to promote Energy Efficient ACs for consumers in Mumbai

• Announce an exclusive scheme for Tata Power consumers on Voltas 5 star ACs - Offer savings of up to 50% on MRP, with a special package of 5-year comprehensive warranty

Mumbai, September 10, 2019 : Voltas Limited, the undisputed market leader for Air-Conditioners in India, today announced its partnership with Tata Power to promote energy efficient ACs in Mumbai. As part of the exclusive scheme, the consumers will be able to avail up to 50% discount on purchase of Voltas’ 5-star rated ACs. The partnership is in line with the Group’s energy conversation drive.

Under the scheme, Tata Power’s consumers in the city can exchange their ACs for Voltas’ 5-star rated inverter split AC (1 ton, 1.5 ton and 2 ton). The scheme is open for residential segments of consumers, wherein one AC can be purchased under this scheme, and for the commercial segment, the customer can buy two ACs.

Besides providing an attractive price on select models, the scheme would also help consumers save on their electricity bills annually, depending upon the use. The scheme is open till 31st December, 2019 and is available on first-come first-serve basis.

Speaking on the occasion, Mr. Pradeep Bakshi, Managing Director & CEO, Voltas Limited said, “ We are delighted to partner with Tata Power and provide consumers in Mumbai with 5 Star Inverter ACs that offers more savings in terms of cost and energy. As a Tata Group Company and a Market Leader in AC industry, Voltas has always been at the forefront of technological innovation and strives continuously to provide aesthetically and technologically superior, green and environment friendly energy efficient products.”

Mr. Praveer Sinha, CEO & MD, Tata Power , added: “Tata Power has always been a votary of advocating energy conservation and sustainability, a feature which Voltas’ 5 Star Inverter ACs offer. They are also environment friendly. We are glad to collaborate with them and look forward to offer our consumers with an efficient product that ensures substantial savings on their monthly bill and leaves a minimum carbon footprint without compromising on their comfort.”

Scheme details:

• Discount : A handsome discount of up to 50% is available on the products

• Capacity : Models of 1, 1.5 & 2 Ton capacity are available under the offer

• Flexible Warranty Options : Manufacturer standard warranty of 1 year & choice of purchasing warranty for additional years at discounted rates

• Exchange & New purchase

Option : Can exchange old AC in working condition or opt for new purchase without exchange by paying additional Rs. 2500

• Eligibility: A residential consumer is eligible to purchase 1 Split AC whereas, a Commercial consumer is eligible for maximum 2 Split ACs

• Latest 5-Star Ratings : All the models offered under this scheme have the latest 5-Star Rating from BEE (Bureau of Energy Efficiency)

• Use of Inverter Technology : Products are based on the state-ofthe-art Inverter technology that offers enhanced efficiency

• Free Standard Installation: Free standard installation (as per manufacturer conditions)

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This exclusive partnership has been targeted at households as the domestic sector accounts for almost 20% of energy consumption in Mumbai and AC power consumption is a key component of the same. It is estimated that 5-star rated ACs can help reduce electricity consumption significantly. According to estimates, around 40% of Mumbai's power demand in summer is because of the cooling load involving air conditioners, coolers and fans.

About Voltas:

Voltas Limited is a premier air conditioning and engineering solutions provider and a Projects specialist. Founded in India in 1954, Voltas Limited is part of the Tata Group, and in addition to Air Conditioners, Air Coolers, Water Dispensers, Water Coolers, and Commercial Refrigeration products; Voltas offers engineering solutions for a wide spectrum of industries in areas such as heating, ventilation and air conditioning, refrigeration, electro-mechanical projects, electrification, textile machinery, mining and construction equipment, water management & treatment, cold chain solutions, building management systems, and indoor air quality. Voltas is among the top ten companies within the Tata group and is the undisputed market leader in room air conditioners in India with market share of more than 25% (per end June 2019). It has also launched its range of Voltas Beko Home Appliances, through its new JV in India, in equal partnership with Arçelik A.Ş. a part of the Koç Group from Turkey.

About Tata Power:

Tata Power is India’s largest integrated power company and, together with its subsidiaries & jointly controlled entities, has an installed capacity of 11,107 MW. A pioneer in the field, it has a presence across the entire power value chain: Generation of renewable as well as conventional power including hydro and thermal energy; transmission & distribution, trading and coal & freight logistics. With renewable energy assets in solar and wind accounting for 30% of the company's portfolio, Tata Power is a leader in clean energy generation. In line with the company's view on sustainable and clean energy development, Tata Power is steering the transformation of utilities to integrated solutions by looking at new business growth in EV charging & storage, distributed generation & rooftops, microgrids and home automation & smart meters. It has successful public-private partnerships in generation, transmission & distribution in India & internationally. Tata Power is serving more than 2.6 million distribution consumers in India.

With its 103 years track record of technology leadership, project execution excellence, worldclass safety processes, customer care and driving green initiatives, Tata Power is poised for multi-fold growth and committed to 'lighting up lives' for generations to come.

Issued by:

Ms. Asawari Sathaye Senior Manager – Corporate Communications & Investor Relations, Voltas Limited Tel: 022-66656280/1

Ms. Richa Seth Sr. Account Director, Adfactors PR Mobile: 9930143531

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