Consumer Durables
Valuation | |
|---|---|
| Market Cap | 47.32 kCr |
| Price/Earnings (Trailing) | 86.42 |
| Price/Sales (Trailing) | 3.28 |
| EV/EBITDA | 45.63 |
| Price/Free Cashflow | -108.37 |
| MarketCap/EBT | 51.58 |
| Enterprise Value | 48.58 kCr |
Fundamentals | |
|---|---|
Growth & Returns | |
|---|---|
| Price Change 1W | 3.6% |
| Price Change 1M | 7.1% |
| Price Change 6M | 4.8% |
| Price Change 1Y | -22.1% |
| 3Y Cumulative Return | 21% |
| 5Y Cumulative Return | 11.5% |
| 7Y Cumulative Return | 15% |
| 10Y Cumulative Return | 16.7% |
| Revenue (TTM) |
| 14.44 kCr |
| Rev. Growth (Yr) | -11.5% |
| Earnings (TTM) | 538.56 Cr |
| Earnings Growth (Yr) | -76.3% |
Profitability | |
|---|---|
| Operating Margin | 6% |
| EBT Margin | 6% |
| Return on Equity | 8.42% |
| Return on Assets | 4.18% |
| Free Cashflow Yield | -0.92% |
Cash Flow & Liquidity |
|---|
| Cash Flow from Investing (TTM) | 157.94 Cr |
| Cash Flow from Operations (TTM) | -224.11 Cr |
| Cash Flow from Financing (TTM) | -99.71 Cr |
| Cash & Equivalents | 474.81 Cr |
| Free Cash Flow (TTM) | -432.29 Cr |
| Free Cash Flow/Share (TTM) | -13.06 |
Balance Sheet | |
|---|---|
| Total Assets | 12.87 kCr |
| Total Liabilities | 6.48 kCr |
| Shareholder Equity | 6.39 kCr |
| Current Assets | 8.54 kCr |
| Current Liabilities | 5.8 kCr |
| Net PPE | 836.11 Cr |
| Inventory | 3.11 kCr |
| Goodwill | 72.31 Cr |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.13 |
| Debt/Equity | 0.27 |
| Interest Coverage | 11.69 |
| Interest/Cashflow Ops | -2.4 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 7 |
| Dividend Yield | 0.49% |
| Shares Dilution (1Y) | 0.00% |
| Shares Dilution (3Y) | 0.00% |
Momentum: Stock price has a strong positive momentum. Stock is up 7.1% in last 30 days.
Past Returns: In past three years, the stock has provided 21% return compared to 13% by NIFTY 50.
Size: Market Cap wise it is among the top 20% companies of india.
Balance Sheet: Strong Balance Sheet.
Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
No major cons observed.
Momentum: Stock price has a strong positive momentum. Stock is up 7.1% in last 30 days.
Past Returns: In past three years, the stock has provided 21% return compared to 13% by NIFTY 50.
Size: Market Cap wise it is among the top 20% companies of india.
Balance Sheet: Strong Balance Sheet.
Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
No major cons observed.
Investor Care | |
|---|---|
| Dividend Yield | 0.49% |
| Dividend/Share (TTM) | 7 |
| Shares Dilution (1Y) | 0.00% |
| Earnings/Share (TTM) | 16.55 |
Financial Health | |
|---|---|
| Current Ratio | 1.47 |
| Debt/Equity | 0.27 |
Technical Indicators | |
|---|---|
| RSI (14d) | 61.74 |
| RSI (5d) | 72.34 |
| RSI (21d) | 66.04 |
| MACD Signal | Buy |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Buy |
| RSI Signal | Hold |
| RSI5 Signal | Sell |
| RSI21 Signal | Hold |
| SMA 5 Signal | Buy |
| SMA 10 Signal |
Updated May 5, 2025
Summary of Voltas's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
Management's outlook for Voltas Limited is characterized by a cautious optimism following a challenging Q1 FY26, with expectations for a rebound in the upcoming months driven by seasonal demand and tactical cost management. They anticipate that inventory normalization, along with heightened sales during the festive period, will contribute to sequential recovery in performance.
Key forward-looking points highlighted by management include:
Market Leadership: Despite the dip in performance, Voltas continues to maintain its leadership in the Room Air Conditioner segment with a market share of 19.3% as of June, up from 16.9% in April and 17.9% in May 2025. The company emphasizes a commitment to retaining its leadership position across all product categories.
Revenue Expectations: Management indicated that they expect industry performance for FY26 to end with a degrowth of 5% to 10%, with improvement projected during the festival season starting from October.
Tactical Cost Control: Voltas is actively undertaking cost control initiatives, aiming to address under-absorption of costs due to high inventory levels that have led to lower factory utilization.
Strengthened Voltbek Performance: Voltbek achieved a year-on-year growth of 33%, selling nearly one million units in Q1 FY26. This success is expected to bolster Voltas' overall appliance business and mitigate seasonal risks associated with the cooling products segment.
Positive Outlook on Projects: The total carried-forward order book in the Electromechanical Projects segment exceeds Rs.6,200 crores, ensuring revenue visibility for upcoming quarters. Management remains cautiously optimistic about project execution.
Focus on Innovation: Voltas is investing in long-term innovations, including energy analytics and smart maintenance platforms in response to evolving consumer demands and challenges in the climate solutions sector.
Overall, management conveys confidence in overcoming the current headwinds through strategic initiatives aimed at enhancing operational efficiency and maintaining market share across its diverse product portfolio.
Understand Voltas ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| Nps Trust- A/C Sbi Pension Fund Scheme - State Govt | 4.91% |
| Nippon Life India Trustee Ltd (Various Accounts) | 4.85% |
| Tata Investment Corporation Ltd | 3.01% |
| SBI Life Insurance Co. Ltd | 2.96% |
| Kotak Midcap Fund (Various Accounts) | 2.21% |
| Mirae Asset Large & Midcap Fund ( Various Accounts) | 2.1% |
Detailed comparison of Voltas against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| HAVELLS | Havells India | 90.31 kCr | 21.96 kCr | +1.40% | -15.40% | 61.72 | 4.11 | - | - |
| BLUESTARCO | Blue Star | 37.34 kCr | 12.29 kCr |
Comprehensive comparison against sector averages
VOLTAS metrics compared to Consumer
| Category | VOLTAS | Consumer |
|---|---|---|
| PE | 86.42 | 60.51 |
| PS | 3.28 | 2.31 |
| Growth | -1.5 % | 3.8 % |
Voltas is a prominent Household Appliances company based in India, recognized by its stock ticker VOLTAS. With a market capitalization of Rs. 41,241.5 Crores, the company specializes in air conditioning and engineering solutions, catering primarily to markets in India, the Middle East, Africa, and beyond.
The operations of Voltas are organized into three main segments:
Voltas manufactures, sells, and maintains a diverse range of cooling appliances and cold storage products, which include:
Beyond cooling products, the company is also deeply involved in electro-mechanical projects, which encompass:
Additionally, Voltas offers facilities maintenance and hard services, including operations and maintenance contracts across various sectors, annual maintenance contracts (AMCs), energy management solutions, and retrofits.
In its commitment to environmental sustainability, the company provides water treatment solutions for both industrial and domestic sewage. This extends to facilitating last mile connectivity for water under government initiatives and includes selling capital machinery for the textile industry, as well as mining and construction equipment.
Voltas also offers operations and maintenance services specifically for the mining and construction sectors and engages in the manufacturing of ducts and accessories. Their capabilities encompass engineering, procurement, and construction (EPC) projects along with drilling, irrigation, landscaping, and the construction of water treatment plants.
Founded in 1954 and headquartered in Mumbai, India, Voltas has demonstrated significant growth, recording a trailing 12 months revenue of Rs. 15,147.3 Crores. The company is known for providing dividends to its investors, currently yielding 0.33% annually with a recent dividend payout of Rs. 5.5 per share. Notably, Voltas has experienced an impressive revenue growth of 86.9% over the past three years.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
| Buy |
| SMA 20 Signal | Buy |
| SMA 50 Signal | Buy |
| SMA 100 Signal | Buy |
VOLTAS vs Consumer (2021 - 2026)
Shares of Voltas Ltd. rose by up to 2% on April 22 after reports indicated that the government may relax BIS norms for air conditioners and components weighing below two tonnes.
General • 01 Jan 2026 Intimation under Regulation 30 of Listing Regulations- Orders received from GST authorities |
General • 31 Dec 2025 Intimation under Regulation 30 of Listing Regulations- Update on intimation dated 2nd July, 2025 |
Change in Management • 26 Dec 2025 We hereby inform that Mr. Jayant Balan has been appointed as Head- Room Air Conditioner Business. |
General • 18 Dec 2025 Intimation under Regulation 30 of Listing Regulations - Receipt of orders from the GST authority |
Analyst / Investor Meet • 18 Dec 2025 Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform that a One-on-One meeting with Institutional Investor is scheduled .... |
• 15 Dec 2025 |
This information is AI-generated and may contain inaccuracies. Please verify from multiple sources.
Question: "Can you tell us how July month was for Voltas? What is the current inventory looking like for you at a brand level as well as the channel level? And did you see any pricing pressure or are you continuing to see that?"
Answer: I cannot comment on July's numbers as they are still being consolidated. As for inventory, at Voltas, we have approximately 3 months' worth of inventory, while trade partners have about 2 months. To maintain our market leadership, we are retaining competitive offerings but are not actively discounting. We hope the upcoming festival season will help liquidate these inventories.
Question: "Given the weak first quarter, what growth are you expecting for the year, and have market shares fluctuated?"
Answer: While Q1 was low, we expect recovery as we approach the festival season in Q3 and Q4. Historically, milder Q1 summers are often compensated for in subsequent quarters. We forecast a modest industry decline of around 5% to 10%. Our market share did dip slightly, but we've stabilized it from 16.9% in April to 19.3% by June.
Question: "What are the current inventory levels in absolute numbers?"
Answer: I'm unable to provide the exact inventory numbers at this moment, as we are still consolidating data for July. However, I can confirm that the inventory is lower than a million units. Please contact my team afterward for specific figures.
Question: "What is the outlook for the project business given the current order book?"
Answer: Our order book is currently solid, with approximately Rs.6,200 crores. We have carefully selected projects with assured margins and are cautious in our participation. We expect increased progress in Q2 and beyond, based on ongoing inquiries.
Question: "Considering intense competition and high inventory, how does Voltas plan to navigate cost under-absorption?"
Answer: We recognize that cost under-absorption will continue due to high inventory levels. However, we are actively improving cost efficiencies across our verticals, which should help mitigate these effects in the coming quarters.
Question: "How will you integrate AI and smart technology in your product offerings?"
Answer: We have already implemented IoT-enabled products. For commercial air conditioning, our systems monitor performance remotely, enabling predictive maintenance. We aim to enhance these capabilities across our products in the future.
Question: "What industry decline are you observing and what was your market share performance?"
Answer: The industry has seen a decline of about 35-40% in Q1. Our market share has fluctuated, with 19.3% reported for June, down from last year's 21.2%. However, we've increased our market share steadily during this quarter.
Question: "What preparations are being made for the upcoming energy star labeling?"
Answer: We anticipate about a 4%-5% cost increase due to the new energy regime. We are focusing on value engineering to manage these costs. By December, we'll have clearer estimates, and any necessary price adjustments will be made strategically.
Question: "What are your thoughts on profitability for Voltbek?"
Answer: Voltbek is gaining market share significantly, currently at 8.6% in washing machines and 7.2% in refrigerators. While we are not profitable yet, we view current expenditures as investments in brand growth. Once we exceed 10% market share, profitability will follow.
Question: "How do you view the competition introduced by new entrants in the market?"
Answer: New entrants face challenges due to the competitive landscape and established players like us who have deeper resources. While they may initially resort to discounts, such strategies aren't sustainable long-term. We remain committed to maintaining our leadership and don't anticipate being heavily affected by such pricing tactics.
| Tata AIA Life Insurance Co Ltd | 1.98% |
| HDFC Life Insurance Company Limited | 1.51% |
| Aditya Birla Sun Life Trustee Private Limited ( Various Accounts) | 1.44% |
| Dsp Midcap Fund (Various Accounts) | 1.15% |
| ICICI Prudential Life Insurance Company Limited | 1.02% |
| Vanguard Total International Stock Index Fund | 1.01% |
| Ewart Investments Limited | 0.58% |
| The Tata Power Company Limited | 0.07% |
| Tata Holdings Mozambique, Lda | 0% |
| AFCL Ghana Ltd. | 0% |
| AFCL Zambia Ltd. | 0% |
| Newshelf 1369 Proprietary Limited | 0% |
| Tata Consumer Products Limited | 0% |
| Titan Company Limited | 0% |
Distribution across major stakeholders
Distribution across major institutional holders
| +3.50% |
| -20.80% |
| 68.38 |
| 3.04 |
| - |
| - |
| CROMPTON | Crompton Greaves Consumer Electricals | 16.23 kCr | 7.81 kCr | -1.50% | -32.20% | 34.3 | 2.08 | - | - |
| WHIRLPOOL | Whirlpool of India | 11.48 kCr | 7.98 kCr | -7.90% | -51.00% | 32.76 | 1.44 | - | - |
| SYMPHONY | Symphony | 6.29 kCr | 1.2 kCr | +6.80% | -32.40% | 48.57 | 5.26 | - | - |
| -38.8% |
| 2,321 |
| 3,792 |
| 4,472 |
| 2,941 |
| 2,487 |
| 4,520 |
| Profit Before exceptional items and Tax | -60.5% | 91 | 229 | 375 | 223 | 238 | 481 |
| Total profit before tax | -60.5% | 91 | 229 | 375 | 223 | 238 | 481 |
| Current tax | -84.5% | 10 | 59 | 119 | 78 | 54 | 118 |
| Deferred tax | 416.4% | 12 | 3.13 | -11.76 | -18.1 | 19 | -1.48 |
| Total tax | -63.9% | 23 | 62 | 107 | 60 | 73 | 117 |
| Total profit (loss) for period | -77.9% | 32 | 141 | 236 | 131 | 133 | 335 |
| Other comp. income net of taxes | -392.3% | -133.47 | 47 | -77.66 | -60.63 | 87 | 85 |
| Total Comprehensive Income | -155.1% | -101.97 | 188 | 158 | 70 | 220 | 420 |
| Earnings Per Share, Basic | -99.1% | 1.03 | 4.25 | 7.28 | 3.99 | 4.05 | 10.1 |
| Earnings Per Share, Diluted | -99.1% | 1.03 | 4.25 | 7.28 | 3.99 | 4.05 | 10.1 |
| 19% |
| 545 |
| 458 |
| 437 |
| 489 |
| 465 |
| 516 |
| Finance costs | 70% | 35 | 21 | 12 | 15 | 19 | 8.84 |
| Depreciation and Amortization | 31% | 56 | 43 | 36 | 33 | 30 | 27 |
| Other expenses | 40.3% | 1,143 | 815 | 699 | 596 | 591 | 624 |
| Total Expenses | 29.5% | 10,660 | 8,230 | 7,297 | 6,503 | 5,865 | 6,841 |
| Profit Before exceptional items and Tax | 36.7% | 1,036 | 758 | 553 | 763 | 733 | 816 |
| Exceptional items before tax | - | 0 | 0 | 975 | 0 | 0 | -54.91 |
| Total profit before tax | 36.7% | 1,036 | 758 | 1,528 | 763 | 733 | 761 |
| Current tax | 106.9% | 270 | 131 | 111 | 174 | 176 | 163 |
| Deferred tax | -152.3% | -10.51 | 23 | 12 | 5.27 | -13.36 | 28 |
| Total tax | 68.6% | 259 | 154 | 123 | 180 | 163 | 191 |
| Total profit (loss) for period | 28.7% | 777 | 604 | 1,405 | 583 | 570 | 570 |
| Other comp. income net of taxes | -85.4% | 39 | 262 | -56.88 | 166 | 328 | -210.02 |
| Total Comprehensive Income | -5.8% | 816 | 866 | 1,348 | 749 | 899 | 360 |
| Earnings Per Share, Basic | 30.2% | 23.48 | 18.26 | 42.47 | 17.63 | 17.24 | 17.22 |
| Earnings Per Share, Diluted | 30.2% | 23.48 | 18.26 | 42.47 | 17.63 | 17.24 | 17.22 |
| -8.6% |
| 75 |
| 82 |
| 193 |
| 368 |
| 150 |
| 98 |
| Investment property | -11.6% | 39 | 44 | 44 | 45 | 47 | 49 |
| Non-current investments | -2.4% | 4,966 | 5,087 | 5,623 | 5,049 | 4,939 | 4,655 |
| Loans, non-current | -1.1% | 0.06 | 0.07 | 0.07 | 0.07 | 0.06 | 0.08 |
| Total non-current financial assets | 2.2% | 5,405 | 5,290 | 5,751 | 5,255 | 5,184 | 4,917 |
| Total non-current assets | 2.4% | 6,475 | 6,321 | 6,758 | 6,167 | 5,862 | 5,533 |
| Total assets | -2.3% | 12,423 | 12,712 | 11,625 | 11,770 | 9,844 | 10,042 |
| Borrowings, non-current | 10.8% | 423 | 382 | 356 | 228 | 20 | 21 |
| Total non-current financial liabilities | 16.1% | 484 | 417 | 409 | 236 | 30 | 33 |
| Provisions, non-current | 2.8% | 75 | 73 | 75 | 76 | 69 | 69 |
| Total non-current liabilities | 11.9% | 640 | 572 | 603 | 398 | 152 | 139 |
| Borrowings, current | 401.6% | 914 | 183 | 154 | 177 | 220 | 264 |
| Total current financial liabilities | -2.1% | 3,050 | 3,116 | 2,450 | 3,128 | 1,973 | 2,592 |
| Provisions, current | 2.5% | 208 | 203 | 194 | 180 | 151 | 143 |
| Current tax liabilities | -14.3% | 61 | 71 | 61 | 43 | 71 | 40 |
| Total current liabilities | -6.5% | 3,747 | 4,007 | 3,096 | 3,873 | 2,505 | 3,130 |
| Total liabilities | -4.2% | 4,387 | 4,579 | 3,700 | 4,272 | 2,656 | 3,269 |
| Equity share capital | 0% | 33 | 33 | 33 | 33 | 33 | 33 |
| Total equity | -1.2% | 8,037 | 8,132 | 7,925 | 7,498 | 7,188 | 6,773 |
| Total equity and liabilities | -2.3% | 12,423 | 12,712 | 11,625 | 11,770 | 9,844 | 10,042 |
| 85.8% |
| 237 |
| 128 |
| 116 |
| 202 |
| - |
| - |
| Net Cashflows From Operating Activities | -94.5% | 24 | 419 | 35 | 668 | - | - |
| Cashflows used in obtaining control of subsidiaries | 300% | 177 | 45 | 1,190 | 0 | - | - |
| Proceeds from sales of PPE | 345.7% | 17 | 4.59 | 0 | 1.31 | - | - |
| Purchase of property, plant and equipment | -27.3% | 206 | 283 | 176 | 47 | - | - |
| Proceeds from sales of investment property | - | 0 | 0 | 3.08 | 0 | - | - |
| Purchase of intangible assets | - | 0 | 0 | 0 | -36.27 | - | - |
| Proceeds from sales of long-term assets | - | 0 | 0 | 0 | 713 | - | - |
| Purchase of other long-term assets | - | 0 | 0 | 0 | 1,104 | - | - |
| Dividends received | 68.1% | 80 | 48 | 9.26 | 7.15 | - | - |
| Interest received | 57.9% | 61 | 39 | 36 | 8.84 | - | - |
| Other inflows (outflows) of cash | -24.6% | -106.84 | -85.57 | -340.85 | 14 | - | - |
| Net Cashflows From Investing Activities | 106.5% | 17 | -244.22 | -71.64 | -370.41 | - | - |
| Proceeds from borrowings | -15.3% | 500 | 590 | 200 | 35 | - | - |
| Repayments of borrowings | -28.1% | 339 | 471 | 41 | 11 | - | - |
| Payments of lease liabilities | -23.5% | 14 | 18 | 6.73 | 6.16 | - | - |
| Dividends paid | 29.3% | 182 | 141 | 182 | 165 | - | - |
| Interest paid | 47.1% | 26 | 18 | 12 | 12 | - | - |
| Net Cashflows from Financing Activities | -8.9% | -61.59 | -56.49 | -41.94 | -158.87 | - | - |
| Effect of exchange rate on cash eq. | -1281.8% | -0.52 | 0.89 | 0 | 0 | - | - |
| Net change in cash and cash eq. | -118.6% | -20.95 | 119 | -78.29 | 139 | - | - |
General • 12 Dec 2025 Intimation under Regulation 30 of Listing Regulations- Receipt of order from GST authority |
Analysis of Voltas's financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.
Last Updated: Sep 30, 2025
| Description | Share | Value |
|---|---|---|
| Segment - A ( Unitary Cooling Products ) | 52.4% | 1.2 kCr |
| Segment - B ( Electro - Mechanical Projects and Services ) | 41.6% | 966.2 Cr |
| Segment - C ( Engineering Products and Services ) | 6.0% | 139.1 Cr |
| Total | 2.3 kCr |