Voltas Ltd.

•

voltas.comBSE: 500575NSE: VOLTAS

Market Cap₹ 38,316 Cr.

Current Price

High / Low₹ 1,582 / 1,131

Stock P/E91.7

Book Value₹ 249

Price to Book5.28

Dividend Yield0.35 %

ROCE5.7 %

ROE4.2 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Unitary Cooling Products for Comfort and Commerical Use: 90.2% • Electro -Mechanical Projects and Services: 8.6% • Other operating income: 1.2%

AI Sector View

AI GENERATED

Consumer Durables

Buy

Urban discretionary demand is mixed but investable. Credit card transactions rose 27.0% YoY (2026-06), urban CMIE sentiment was 109.5 (2026-07), and consumer spending remained large at INR 44743 billion (Jun/26), even though formal consumer confidence fell to 88.3 points (Jul/26) and debit card transactions were -9.0% YoY (2026-06). Heavy sector inflows of INR 13175 crore over 3 months to 2026-08-31 indicate strong investor positioning behind the theme.

Confidence

76%

View full sector analysis →

PROS

Company is almost debt free
Latest quarter profit grew 37.8% YoY, showing strong momentum
Company has been maintaining a healthy dividend payout of 38.8%
Company has a consistent dividend-paying track record
Company generates healthy free cash flow
Company comfortably covers its interest (7.6x coverage)

CONS

Operating cash flow has been negative in recent years
A large part of profit comes from other income (73.9% of PBT)
Recent results are weak - TTM profit is down 51.6% versus prior year
Receivables are growing faster than sales - a possible quality concern
Company has a low return on equity of 7.5% over last 3 years
Company has a low return on capital employed of 9.7%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Consumer DurablesConsumer DurablesAir Conditioners

Part ofNIFTY LARGEMID250 NIFTYLARGEMIDCAP250 NIFTY MIDCAP 100 NIFTY MIDCAP 150 NIFTYMIDCAP150

S.No.	Name
1.	VOLTAS	1158.00	85.30	38316.45	0.35	212.76	51.31	4673.50	19.46	8.75	4.88
2.	BLUESTARCO	1513.60	61.12	31121.85	0.56	102.51	-15.15	3377.92	13.27	21.17	5.17
3.	AMBER	7276.85	267.20	25663.83	0.00	3.09	-97.09	3887.72	12.72	9.95	8.01
4.	BOSCH-HCIL	1688.45	983.09	4591.04	2.13	22.79	49.44	1095.52	28.49	1.83	3.74
5.	EPACK	188.25	114.97	1812.41	0.00	118.18	416.27	8860.24	1237.61	4.67	5.95

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	2,672	1,314	1,565	3,032	3,897	1,681	2,013	3,591	3,049	1,407	2,211	3,740	4,001
	2,522	1,270	1,501	2,873	3,627	1,621	1,928	3,393	2,967	1,453	2,160	3,668	3,831
Operating Profit	150	44	63	160	270	60	85	198	82	-45	51	71	169
OPM %	5.61%	3.35%	4.04%	5.26%	6.92%	3.58%	4.23%	5.51%	2.70%	-3.20%	2.31%	1.90%	4.24%
	106	72	57	65	150	99	63	89	152	55	36	39	165
Interest	3	5	6	6	3	7	7	17	8	13	26	18	10
Depreciation	10	11	12	10	12	15	16	13	17	23	19	19	20
Profit before Tax	270	131	125	232	427	161	146	301	242	8	61	118	334
Tax %	20.38%	22.07%	22.40%	18.10%	20.61%	32.60%	25.92%	26.73%	15.84%	3.17%	21.67%	30.60%	16.08%
Net Profit	215	102	97	190	339	109	108	220	203	7	48	82	280
	6.49	3.08	2.94	5.75	10.25	3.29	3.27	6.66	6.15	0.22	1.45	2.49	8.48

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	5,410	5,809	6,693	7,207	6,378	7,099	7,675	8,688	11,296	10,538	11,359
	4,993	5,343	6,308	6,552	5,816	6,456	7,248	8,169	10,570	10,266	11,113
Operating Profit	417	465	385	654	562	643	427	519	726	272	247
OPM %	7.72%	8.01%	5.76%	9.08%	8.82%	9.06%	5.56%	5.97%	6.43%	2.58%	2.17%
	261	244	288	196	220	168	1,150	303	401	301	296
Interest	10	8	23	9	19	15	12	21	35	65	67
Depreciation	18	19	20	29	30	33	36	43	56	79	81
Profit before Tax	651	683	631	813	733	763	1,528	758	1,036	429	521
Tax %	25.32%	26.59%	26.37%	26.79%	22.24%	23.55%	8.04%	20.30%	25.01%	20.52%	19.85%
Net Profit	486	501	464	595	570	583	1,405	604	777	341	418
EPS	14.69	15.15	14.04	17.98	17.24	17.63	42.47	18.27	23.48	10.31	—
Dividend Payout %	23.81%	26.40%	28.49%	22.24%	29.00%	31.18%	10.00%	30.11%	29.81%	38.81%	—

COMPOUNDED SALES GROWTH

10 Years:: 7%
5 Years:: 11%
3 Years:: 11%

COMPOUNDED PROFIT GROWTH

10 Years:: 0%
5 Years:: -10%
3 Years:: -38%

STOCK PRICE CAGR

10 Years:: 12%
5 Years:: -1%
3 Years:: 10%
1 Year:: -17%

RETURN ON EQUITY

10 Years:: 13%
5 Years:: 11%
3 Years:: 8%
Last Year:: 4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	33	33	33	33	33	33	33	33	33	33
	2,952	3,481	3,710	4,185	4,952	5,536	6,740	7,465	8,099	7,931
	69	29	114	120	135	165	230	407	603	800
Trade Payables	1,752	2,114	2,374	2,578	2,058	2,682	2,210	2,672	2,600	3,854
	768	804	533	696	783	801	830	1,193	1,377	1,370
Total Liabilities	5,574	6,462	6,764	7,611	7,961	9,217	10,042	11,770	12,712	13,987
	161	161	206	254	251	250	388	410	839	952
Capital Work in Progress	1	3	15	26	9	59	98	368	82	22
	2,413	2,894	2,626	2,642	3,443	4,125	4,962	5,370	5,390	5,150
	776	742	1,003	1,460	1,274	1,655	1,547	2,078	2,635	3,377
	0	0	0	0	0	0	0	1,703	1,570	2,079
Cash & Bank	214	200	237	201	324	464	389	504	488	496
	2,010	2,461	2,678	3,027	2,660	2,664	2,657	1,338	1,707	1,911
Total Assets	5,574	6,462	6,764	7,611	7,961	9,217	10,042	11,770	12,712	13,987

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	435	509	-81	528	632	871	151	419	23	-130
Cash from Investing	-57	-151	445	-176	-311	-370	-72	-244	17	215
Cash from Financing	-154	-178	-82	-204	-129	-159	-42	-56	-62	-90
	79	-32	53	-45	131	139	-78	119	-21	-4

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	30.30	30.30	30.30	30.30	30.30	30.30	30.30	30.30	30.30
	15.08	18.09	21.31	21.95	21.16	20.26	18.41	18.44	16.94
	40.19	37.25	34.39	32.99	33.15	35.62	37.74	38.28	38.93
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	14.21	14.16	13.78	14.54	15.18	13.62	13.40	12.86	13.71

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-01

Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

2026-09-01 - Voltas Limited has informed the Exchange about update on a Pending Material Litigation as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

2026-08-20

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-20 - Voltas Limited has informed the Exchange about Transcript

2026-08-14

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-14 - Voltas Limited has informed the Exchange about Link of Recording

2026-08-14

Agreements

2026-08-14 - Voltas Limited has informed the Exchange about Agreements

2026-08-14

Investor Presentation

2026-08-14 - Voltas Limited has informed the Exchange about Investor Presentation

2026-08-14

Press Release

2026-08-14 - Voltas Limited has informed the Exchange regarding a press release dated August 14, 2026, titled "Voltas Delivers Strong Q1 FY27 Performance, Outperforming Competition and Widening Market Leadership with a 4% lead over the nearest competitor".

2026-08-14

Press Release

2026-08-14 - Voltas Limited has informed the Exchange regarding a press release dated August 14, 2026, titled "Voltas and Atomberg Join Hands to Build Room AC Compressors in India".

2026-08-14

Outcome of Board Meeting

2026-08-14 - Voltas Limited has informed the Exchange regarding Proposed Joint Venture with Atomberg Innovation Private Limited

2026-08-14

Outcome of Board Meeting

2026-08-14 - Voltas Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

News

Recent coverage and analyst commentary for VOLTAS

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Voltas Ltd.

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Name

VOLTAS

1158.00

85.30

38316.45

0.35

212.76

51.31

4673.50

19.46

8.75

4.88

BLUESTARCO

1513.60

61.12

31121.85

0.56

102.51

-15.15

3377.92

13.27

21.17

5.17

AMBER

7276.85

267.20

25663.83

0.00

3.09

-97.09

3887.72

12.72

9.95

8.01

BOSCH-HCIL

1688.45

983.09

4591.04

2.13

22.79

49.44

1095.52

28.49

1.83

3.74

EPACK

188.25

114.97

1812.41

0.00

118.18

416.27

8860.24

1237.61

4.67

5.95

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

2,672

1,314

1,565

3,032

3,897

1,681

2,013

3,591

3,049

1,407

2,211

3,740

4,001

2,522

1,270

1,501

2,873

3,627

1,621

1,928

3,393

2,967

1,453

2,160

3,668

3,831

Operating Profit

150

160

270

198

-45

169

OPM %

5.61%

3.35%

4.04%

5.26%

6.92%

3.58%

4.23%

5.51%

2.70%

-3.20%

2.31%

1.90%

4.24%

106

150

152

165

Interest

Depreciation

Profit before Tax

270

131

125

232

427

161

146

301

242

118

334

Tax %

20.38%

22.07%

22.40%

18.10%

20.61%

32.60%

25.92%

26.73%

15.84%

3.17%

21.67%

30.60%

16.08%

Net Profit

215

102

190

339

109

108

220

203

280

6.49

3.08

2.94

5.75

10.25

3.29

3.27

6.66

6.15

0.22

1.45

2.49

8.48

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

5,410

5,809

6,693

7,207

6,378

7,099

7,675

8,688

11,296

10,538

11,359

4,993

5,343

6,308

6,552

5,816

6,456

7,248

8,169

10,570

10,266

11,113

Operating Profit

417

465

385

654

562

643

427

519

726

272

247

OPM %

7.72%

8.01%

5.76%

9.08%

8.82%

9.06%

5.56%

5.97%

6.43%

2.58%

2.17%

261

244

288

196

220

168

1,150

303

401

301

296

Interest

Depreciation

Profit before Tax

651

683

631

813

733

763

1,528

758

1,036

429

521

Tax %

25.32%

26.59%

26.37%

26.79%

22.24%

23.55%

8.04%

20.30%

25.01%

20.52%

19.85%

Net Profit

486

501

464

595

570

583

1,405

604

777

341

418

EPS

14.69

15.15

14.04

17.98

17.24

17.63

42.47

18.27

23.48

10.31

—

Dividend Payout %

23.81%

26.40%

28.49%

22.24%

29.00%

31.18%

10.00%

30.11%

29.81%

38.81%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

2,952

3,481

3,710

4,185

4,952

5,536

6,740

7,465

8,099

7,931

114

120

135

165

230

407

603

800

Trade Payables

1,752

2,114

2,374

2,578

2,058

2,682

2,210

2,672

2,600

3,854

768

804

533

696

783

801

830

1,193

1,377

1,370

Total Liabilities

5,574

6,462

6,764

7,611

7,961

9,217

10,042

11,770

12,712

13,987

161

206

254

251

250

388

410

839

952

Capital Work in Progress

368

2,413

2,894

2,626

2,642

3,443

4,125

4,962

5,370

5,390

5,150

776

742

1,003

1,460

1,274

1,655

1,547

2,078

2,635

3,377

1,703

1,570

2,079

Cash & Bank

214

200

237

201

324

464

389

504

488

496

2,010

2,461

2,678

3,027

2,660

2,664

2,657

1,338

1,707

1,911

Total Assets

5,574

6,462

6,764

7,611

7,961

9,217

10,042

11,770

12,712

13,987

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

435

509

-81

528

632

871

151

419

-130

Cash from Investing

-57

-151

445

-176

-311

-370

-72

-244

215

Cash from Financing

-154

-178

-82

-204

-129

-159

-42

-56

-62

-90

-32

-45

131

139

-78

119

-21

-4

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

30.30

15.08

18.09

21.31

21.95

21.16

20.26

18.41

18.44

16.94

40.19

37.25

34.39

32.99

33.15

35.62

37.74

38.28

38.93

Government

0.00

14.21

14.16

13.78

14.54

15.18

13.62

13.40

12.86

13.71

Voltas Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Voltas Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI