Voltas will be investing over Rs 1,000 crore to expand its manufacturing capacity including setting up a new plant near Chennai
The management had previously given capex guidance of Rs 500 crore for FY23. This comes in as an additional capex of Rs 500 crore to increase the capacity of ACs and commercial refrigerators. We believe that the additional capex will help the company to maintain its leadership position in the RAC segment through dealer additions and new launches. The company has also sought government approval under the PLI scheme for setting up a plant for compressors in partnership with China's Highly International
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