Voltas lost two months or 60 days of sales during the coronavirus-induced lockdown, which is 50-60 percent of the business during the summer, Pradeep Bakshi, MD and CEO of the Tata Group AC Company told CNBC-TV18 on Friday. The period between March and June accounts for more than 50 percent of additions, he said, while adding that July onwards is the lean season for the industry. Bakshi shared his views and outlook on H2FY21, summer sales and demand pick-up post lockdown.

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“Generally summer months starting from March until June accounts for more than 50 percent of our sales in the compressor products likely the air-conditioner products. Unfortunately, due to the lockdown, right from March 20 onwards until May 20, we lost out nearly 60 days of sales. So probably out of three and a half months, we lost out two months that is somewhere around 50-60 percent of the business was lost for the industry during these summers because of the lockdown,” he said.

Bakshi also said that Voltas has done better than the industry while highlighting that most brands haven’t registered growth.

“During this period, the industry has been able to sell the products but most of the brands have not registered growth. However, if you look at Voltas’ business, we have done decent numbers during this period. Both in terms of volume, revenue and profitability we are way ahead of the competition and the industry,” he added.

There is a large pile-up of inventory with the industry, the Voltas MD and CEO added.

“Industry as a whole has not been able to do a great job during Q1 until July, August also, we have been doing sales, some numbers are clicking but there is a large pile-up of inventory in the industry,” Bakshi further mentioned.

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