R&D and Innovation in Energy Efficient Products
May 2020
International Growth - India
•
Why India?
Huge potential with its large population size and
economic growth expectation
• 2nd largest country (1.3 billion) in terms of
population (18% of World's total)
• 248 million households
About Voltas - Our JV Partner
.
• Part of India's largest conglomerate TATA Group
•
Leading player in Indian A/C market
•
.
Stable GDP growth over the years
✰ Average of 7.3% in 2010-2015 period
Expected GDP growth in 2016-2021 is 7.8%
(CAGR)
• An estimated market size of 12 million units of
refrigerators and 6.5 million units of washing
machines (worth app. USD 4.5 billion)
• Low penetration for home appliances, resulting in
high growth rates (CAGR of 9% for MDA9* in 2006-
16 period)
•
Sales of USD 895 mln. in 2015/16 FY
JV at a Glance
Arçelik A.Ş.
Leverage both parties strengths: Arcelik's technology
and brand image; Voltas' local expertise and sales
network
Total CAPEX of USD 155 mln. in 10 years
• USD 100 mln. capital
•
Arcelik started supplying products to the JV in 2H18, and
sales to India reached around TRY 100 mn in 2019.
Around 10% market share and USD 1 bln. revenue in
10th year
Products are labelled under Voltas-Beko co-brand.
Refrigerator plant in Gujarat started mass production by
January 2020.
ArçelikView entire presentation