Brands
Voltas mulls brand extension; may diversify in consumer goods space
KOLKATA: The Tata group-owned cooling company, Voltas, is planning to extend its brand into other product categories. The company may consider diversification in the consumer durables and electronics segment. According to the company, a call is likely to be taken by December this year.
Voltas is presently conducting a study in association with the group owned TSMG for extension of product line.
“Studies are on but we cannot peg a time or name any category. By the end of this year, we might have some idea about extending the brand. We are planning to go for brand extension,” said Voltas CEO – unitary products division Pradeep Bakshi.
However, Bakshi did not mention when the study is likely to be completed.
Also, the company is eyeing further expansion into the overseas market in the Middle East and Africa.
“Our target is to export at least 1,00,000 units in a year over the course of the next two years, which will account for 10 per cent of the annual sales,” Bakshi said.
The company is presently exporting between 25,000 and 30,000 units to its overseas operations annually, which accounts for roughly five per cent of the annual sales.
Voltas will also go for marginally hiking its prices of air conditioners by two—three per cent in face of rising forex imbalance and government taxes by mid-February. “Our forex and government taxes have gone up by five per cent. While we will absorb a part of this, the prices of our air conditioners (AC) will go up by two—three per cent in the middle of February,” Bakshi said.
In case taxes go up further, which will add to input cost, the retail prices of the ACs may head further north, he added.
Experts feel that the Union Budget 2016 is likely to lay out a roadmap for what is important for the BJP-led government at the Centre.
While the company continues to enjoy market leadership position in the AC segment at 25 per cent by sales figures, its biggest challenge is lack of diversified products. It should be noted that Voltas had quit the consumer refrigeration business in 1998-99.
Voltas registered an annual growth rate of 12 per cent selling nearly one million ACs in 2014 and is optimistic about closing the current fiscal on a good note.
“We are also focusing on strengthening our channel partner base and opt for brand shops to further increase our presence,” Bakshi said.
Brands
Wipro to acquire Alpha Net client contracts in $70.8 million deal
Move aims to boost AI-led services and expand global client portfolio
MUMBAI: Wipro Limited has signed a definitive agreement to acquire select customer contracts from Alpha Net Consulting LLC and its subsidiaries, in a deal valued at up to $70.8 million.
The transaction is expected to be completed by June 30, 2026. The acquisition, structured as a business transfer rather than an equity purchase, will give Wipro access to key client contracts, associated workforce and strategic relationships from the Alpha Net Group. The company said the move will strengthen its AI-powered and consulting-led application services capabilities, opening up new growth opportunities.
The consideration will be paid in cash and includes a deferred earnout component linked to performance milestones. No regulatory approvals are required for the transaction, and it does not fall under related party transactions.
The Alpha Net Group, founded in 2001 and headquartered in Santa Clara, operates across the US, Singapore, India, the UK and the Netherlands, offering enterprise software development, data engineering and managed services. The contracts being acquired generated revenues of $27.9 million in 2023, $34.4 million in 2024 and $37.3 million in 2025.
With this acquisition, Wipro is sharpening its focus on high-value client engagements and AI-led services, signalling a continued push to scale capabilities in a competitive global IT landscape.
