Top Air Conditioner Stocks in India 2025

Every summer, record-breaking heat in India makes air conditioners indispensable. This summer, you can stay cool and profitable by investing in air conditioner stocks in India. Investing in air conditioner stocks could be a strategic move as demand for cooling solutions is growing in India. Herein, we will analyze some of the top AC company stocks in India, further giving an insight into their performance and market positioning.

 

 

Top Air Conditioner Stocks in India 2025

Here is the list of Air conditioner stocks in India, But before investing there are some important ratios you must know in stock market.

 

Company Name	Last Price	52 wk High	52 wk Low	Market Cap (Rs. cr)
Voltas Ltd	1916	1935	806	63397
Blue Star Ltd.	1934	1988	772	37271
Amber Enterprises India Ltd.	4558	4888	2721	15387
Johnson Controls	2156	2269	951	5864
ICE Make Refrigeration Ltd.	683	959	434	1079

 

1. Voltas Ltd.

Voltas Ltd. is a market leader in the AC segment in India, with a strong brand presence and product range. It is part of the Tata Group, incorporated in 1954, the company is engaged in a wide portfolio of cooling appliances, commercial refrigeration, and electro-mechanical projects in not only residential but also commercial sectors.

 

Company Name	Last Price	52 wk High	52 wk Low	Market Cap (Rs. cr)
Voltas Ltd	1916	1935	806	63397

 

Business Segments:

• Unitary Cooling Products: Its product range varies from air conditioners and air coolers to commercial refrigeration equipment.

• Electro-Mechanical Projects and Services: Offers HVAC solutions for infrastructure projects, such as Metro Rail, airports, and industrial buildings.

• Engineering Products and Services: It involves the manufacturing and selling of mining and construction equipment.

 

Market Position:

• Market Share: Voltas possesses the maximum share in India's residential air conditioner market with approximately 24%.

• Brand Strength: Est-HT established a strong brand reputation with an extended distribution and servicing network across India.

• Innovation: Innovation-oriented; focuses on bringing energy-efficient products and smart technologies—for instance, introducing inverter ACs—into the marketplace.

 

From best stock market courses learn to predict the price movement of a stock using historical data and volume.

 

 

2. Blue Star Ltd.

Another formidable player in the Indian AC market is Blue Star, which has been in the business for over 75 years, supplying its products and services to residential and commercial segments. They offer a complete range of cooling products and services.

 

Company Name	Last Price	52 wk High	52 wk Low	Market Cap (Rs. cr)
Blue Star Ltd.	1934	1988	772	37271

 

Business Segments:

• Cooling Products: Provide air conditioners, water coolers, and deep freezers, among many other products.

• Professional Electronics and Industrial Systems: Handling solutions from data security to testing instruments and healthcare equipment.

• Electro-Mechanical Projects: Building large-sized HVAC and electrical contracting jobs.

 

Market Position:

• Market Share: It is the second biggest in the Indian air conditioner market and has a huge market share in the commercial segment of that market.

• Innovation and R&D: A strong focus on energy-efficient and eco-friendly products.

• Distribution: It will have an extended network comprising more than 6000 dealers and 700 service associates.

 

 

3. Amber Enterprises India Ltd.

Amber Enterprises is one of the prime manufacturers and assemblers of AC components and AC products for leading brands. The firm was established in 1990 and is leading among AC OEM and ODM companies.

 

Company Name	Last Price	52 wk High	52 wk Low	Market Cap (Rs. cr)
Amber Enterprises India Ltd.	4558	4888	2721	15387

 

Business Segments:

• Room Air Conditioners (RAC): Manufacturing and assembling complete AC units for brands.

• Component Manufacturing: It produces key components, such as heat exchangers, motors, and sheet metal parts.

• Mobility Application: Provides AC systems for vehicle applications like buses and railways.

 

Market Position:

• Supplier Network: Key supplier to top AC brands, including LG, Samsung, Voltas, and Whirlpool.

• Manufacturing Capacity: 15 manufacturing facilities across the country.

• Technological Edge: Strong R&D setup focusing on making products more energy-efficient and cheaper.

 

 

4. Johnson Controls - Hitachi Air Conditioning India Ltd.

Johnson Controls–Hitachi was established in 2015 as a joint venture blending the legendary expertise of both Johnson Controls and Hitachi to develop innovative conditioning solutions. The company is focused on energy efficiency and advanced technology.

 

Company Name	Last Price	52 wk High	52 wk Low	Market Cap (Rs. cr)
Johnson Controls	2156	2269	951	5864

 

Business Segments:

• Residential Air Conditioners: This involves mainly residential air conditioners with various split and window air conditioners.

• Commercial Air Conditioners: Consists of VRF systems, chillers, and packaged units.

 

Market Position:

• Technology Leadership: Identified with advanced technology and energy-efficient products.

• Market Reach: Strong distribution network and presence across urban and semi-urban areas.

• Innovation: Focused on smart and connected AC solutions.

 

 

5. ICE Make Refrigeration Ltd.

ICE Make Refrigeration is among the most Renowned Refrigeration Equipment Manufacturers and Air Conditioning Systems for Industrial and Commercial Applications. The company was established in 1993, and the main specialization of the firm is to provide customized refrigeration solutions. They serve various industries like food processing, pharmaceuticals, dairy, hospitality, etc.

 

Company Name	Last Price	52 wk High	52 wk Low	Market Cap (Rs. cr)
ICE Make Refrigeration Ltd.	683	959	434	1079

 

Business Segments:

• Cold Room Solutions: Custom-built cold rooms for storage and preservation.

• Commercial Refrigeration: Comprises Display Cabinets, Deep Freezers, and Water Coolers.

• Transport Refrigeration: Trucks and vans are refrigeration units that move perishable goods safely.

 

Market Position:

• Specialization: Specialized refrigeration solutions catering to industry-specific needs.

• Customer Base: Strong food and pharmaceutical sectors.

• Innovation: Drive in energy-efficient and sustainable refrigeration solutions.

 

 

Conclusion

Therefore, AC stocks can bring substantial returns amidst rising demand for cooling solutions in India. It is a result of the rise in temperatures and rapid urbanization. Key contenders include Voltas, Blue Star, Amber Enterprises, Johnson Controls - Hitachi, and ICE Make Refrigeration. Every company has demonstrated specific financial performance and market presence; hence, their potential should be of utmost importance when adding to an Indian AC market-related investment portfolio.