Voltas Ltd logo

Voltas Ltd

VOLTAS NSE

Key Fundamentals

MidcapHousehold AppliancesConsumer Goods
Market Cap
₹41,622 Cr
Volatility
Moderate
P/E Ratio
92.26
EBITDA
₹885 Cr
Return on Equity
5.78%
Debt to Equity
0.16
Book Value
₹192.7
EPS
₹13.81
52W High
₹1,582.5
52W Low
₹1,186.8

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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35 extracted metrics + investor summaries across FY15–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 45.0%

Weaknesses

3
  • Stock is trading at 6.57 times its book value
  • Company has a low return on equity of 8.03% over last 3 years.
  • Earnings include an other income of Rs.221 Cr.

Growth Rate

Revenue Growth
-7.97% ↘
Net Income Growth
-55.65% ↘
Cash Flow Change
131.52% ↗
ROE
-54.70% ↘
ROCE
-47.18% ↘
EBITDA Margin (Avg.)
-33.22% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 5d ago
AI opinion · based on fundamentals
Risk high

Voltas Ltd trades at a market cap of ₹42,350 Cr with a PE of 115x and price-to-book of 6.67x, reflecting premium valuations. TTM sales declined 8% and TTM profit fell 52%, though the company delivered 14% compounded sales growth over 3 and 5 years. ROE stands at 6% for the last year against a 3-year average of 8%.

Bull Case 7
  • Strong 3-year and 5-year compounded sales CAGR of 14% each, indicating consistent top-line expansion over medium term
  • 10-year compounded sales CAGR of 10% demonstrates long-term revenue scaling ability in the consumer durables space
  • Healthy dividend payout ratio of 45.0%, showing commitment to returning capital to shareholders
  • 3-year compounded profit growth of 17%, suggesting earnings recovery potential after cyclical weakness
  • 10-year stock CAGR of 13% reflects sustained long-term wealth creation for shareholders
  • 3-year stock CAGR of 16% outpacing the 10-year average, indicating recent re-rating by the market
  • Market cap of ₹42,350 Cr positions Voltas as a large-cap consumer goods company with institutional ownership and liquidity advantages
Bear Case 8
  • PE ratio of 115x is extremely elevated, implying the stock prices in significant future growth that may not materialize
  • TTM compounded profit declined 52%, a severe earnings contraction that raises questions about near-term profitability
  • TTM sales growth is negative at -8%, indicating a revenue decline in the most recent period
  • Price-to-book of 6.67x is high, meaning investors pay a steep premium over net asset value
  • Last year ROE of just 6% is below cost of equity for most frameworks, indicating poor capital efficiency
  • 3-year ROE average of only 8% is low for a consumer goods company and has not improved over 5 years (also 8%)
  • 5-year compounded profit CAGR is negative at -6%, showing earnings have actually shrunk over a half-decade horizon
  • Other income of ₹212 Cr is included in earnings, meaning core operating profit quality may be weaker than headline numbers suggest

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 6h ago
Positives 3
  • Net profit surges 53% YoY Aug 14

    Q1 net profit jumped 53% YoY to ₹214 crore on revenue of ₹4623 crore (up 17% YoY), with EBITDA margin expanding to 4.94%.

  • Market share gains, margin improvement Aug 17

    Voltas reported growth in market share and improved profit margins, with management anticipating a strong Q2 driven by increased room AC sales.

  • Compressor JV with Atomberg Aug 18

    Voltas plans an equal JV with Atomberg to manufacture 2.8 million AC compressors annually in India, reducing import dependence and boosting self-sufficiency.

Neutral 1
  • New sales head from Oct 2026 Jul 28

    Karan Sehgal appointed Head Sales for Unitary Products Business effective Oct 1, 2026, joining from ITC Limited, replacing Jogesh Jaitly who retires March 2027.

TL;DR: Voltas is executing well with strong Q1 profit growth of 53% YoY, expanding margins, and gaining market share in the room AC segment. The compressor JV with Atomberg signals a strategic move toward backward integration and cost control. No material headwinds are visible in recent news flow. The trend is clearly improving, with management guiding for a strong Q2 on continued AC demand.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
3,360
2,293
2,626
4,203
4,921
2,619
3,105
4,768
3,939
2,347
3,071
4,888
4,674
Expenses
3,206
2,256
2,633
4,051
4,527
2,489
2,940
4,467
3,786
2,313
2,926
4,703
4,445
Operating Profit
154
37
-8
152
394
130
165
301
153
34
145
185
228
OPM %
4.6%
1.6%
-0.3%
3.6%
8%
5%
5%
6%
3.9%
1.4%
4.7%
3.8%
4.9%
Other Income
70
71
58
54
80
105
59
80
82
65
22
43
91
Interest
10
11
14
21
10
14
16
23
14
20
31
22
13
Depreciation
11
12
13
12
13
16
18
14
18
24
21
21
21
PBT
203
85
24
174
452
205
191
343
203
54
116
184
285
Tax %
36%
58%
216%
36%
26%
35%
31%
31%
31%
42%
27%
39%
25%
Net Profit
129
36
-28
111
335
133
131
236
141
32
84
113
213
EPS in Rs
3.91
1.11
-0.92
3.52
10.1
4.05
3.99
7.28
4.24
1.04
2.57
3.51
6.46
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
5,183
5,720
6,033
6,404
7,124
7,658
7,556
7,934
9,499
12,481
15,413
14,244
14,979
Expenses
4,773
5,376
5,484
5,742
6,564
7,040
6,975
7,362
9,045
12,145
14,423
13,728
14,387
Operating Profit
411
344
549
663
560
618
580
572
454
336
990
516
592
OPM %
8%
6%
9%
10%
8%
8%
8%
7%
4.8%
2.7%
6%
3.6%
4%
Other Income
154
261
212
178
174
179
189
188
-77
253
324
212
221
Interest
23
16
16
12
33
21
26
26
30
56
62
87
86
Depreciation
28
26
24
24
24
32
34
37
40
48
62
84
87
PBT
514
563
720
805
677
744
709
697
307
486
1,191
557
640
Tax %
25%
30%
28%
28%
24%
30%
25%
27%
56%
49%
30%
34%
—
Net Profit
388
393
520
578
514
521
529
506
136
248
834
370
442
EPS in Rs
11.62
11.7
15.64
17.3
15.35
15.63
15.87
15.23
4.08
7.62
25.43
11.36
13.58
Div. Payout %
19%
22%
22%
23%
26%
26%
32%
36%
104%
72%
28%
35%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
33
33
33
33
33
33
33
33
33
33
33
33
Reserves
2,069
2,778
3,274
3,872
4,077
4,247
4,960
5,466
5,419
5,787
6,480
6,343
Borrowings
122
271
171
142
315
219
261
361
651
744
892
992
Other Liabilities
2,662
2,788
2,991
3,249
3,091
3,657
3,402
3,874
4,171
5,430
5,702
7,127
Total Liabilities
4,886
5,869
6,469
7,296
7,515
8,156
8,655
9,734
10,274
11,994
13,108
14,496
Fixed Assets
269
276
300
297
343
380
388
384
525
548
973
1,080
CWIP
4
1
1
4
16
26
9
59
98
368
82
22
Investments
1,094
1,975
2,268
2,754
2,386
2,343
3,046
3,615
3,109
3,508
3,243
2,762
Other Assets
3,519
3,617
3,901
4,242
4,771
5,406
5,212
5,676
6,542
7,571
8,809
10,632
Total Assets
4,886
5,869
6,469
7,296
7,515
8,156
8,655
9,734
10,274
11,994
13,108
14,496
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
311
219
428
325
-321
462
556
584
159
762
-225
71
Investing
-104
-315
-73
-199
393
-210
-256
-365
-82
-522
158
297
Financing
-236
48
-211
-181
-18
-294
-122
-107
55
-116
-100
-262
Net Cash Flow
-29
-47
143
-55
53
-42
179
113
133
123
-166
105
Free Cash Flow
516
203
405
292
-402
379
537
537
-18
473
-416
-58
CFO/OP
101
111
111
87
-9
108
108
140
72
289
9
55
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
94
87
88
89
92
87
87
97
84
70
53
78
Inventory Days
88
65
78
65
76
97
84
103
79
79
83
113
Days Payable
156
156
172
174
165
177
161
182
149
140
119
172
Cash Conversion Cycle
26
-4
-6
-19
3
7
9
18
14
9
17
19
Working Capital Days
27
21
25
32
41
49
47
38
31
18
43
44
ROCE %
22%
19%
22%
22%
17%
18%
15%
13%
10%
9%
18%
9%

Shareholding Pattern

As of Jun 2026
DIIs 39.05%
Promoters 30.30%
FIIs 16.94%
Public 10.56%
Others 3.15%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
30.30%
30.30%
30.30%
30.30%
30.30%
30.30%
30.30%
30.30%
30.30%
30.30%
30.30%
30.30%
30.30%
30.30%
30.30%
30.30%
30.30%
30.30%
30.30%
30.30%
30.30%
30.30%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
14.71%
15.08%
18.08%
21.31%
21.96%
21.16%
20.26%
18.41%
18.45%
16.94%
DIIs
36.28%
33.28%
31.24%
29.38%
27.42%
29.15%
28.02%
31.67%
33.37%
31.52%
36.03%
35.89%
40.59%
40.41%
37.46%
34.61%
33.21%
33.36%
35.83%
37.89%
38.40%
39.05%
Government
0.24%
0.24%
0.24%
0.21%
0.21%
0.21%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
13.90%
12.90%
11.95%
11.76%
11.67%
11.72%
12.57%
13.37%
12.65%
13.93%
12.92%
12.39%
11.66%
11.37%
10.84%
10.82%
11.40%
11.86%
10.73%
10.45%
10.15%
10.56%
Others
19.28%
23.29%
26.27%
28.35%
30.41%
28.63%
29.11%
24.66%
23.68%
24.26%
20.75%
21.42%
2.74%
2.84%
3.31%
2.97%
3.14%
3.31%
2.89%
2.95%
2.71%
3.15%
No. of Shareholders
1,50,995
1,58,989
1,47,941
1,56,788
1,71,620
1,96,519
2,24,218
2,61,501
2,73,047
2,99,270
2,80,942
2,61,009
2,41,794
2,47,775
2,35,015
2,39,130
2,85,642
3,21,348
2,84,355
2,68,704
2,60,008
2,71,399

Documents

Frequently Asked Questions about Voltas Ltd

What does Voltas Ltd do?
Voltas is engaged in the business of air conditioning, refrigeration, electro - mechanical projects as an EPC contractor both in domestic and international geographies (Middle East and Singapore) and engineering product services for mining, water management and treatment, construction equipments ...
Where is Voltas Ltd (VOLTAS) listed?
Voltas Ltd is listed on the Indian stock exchanges. It is listed on NSE: VOLTAS and BSE: 500575. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Voltas Ltd belong to?
Voltas Ltd operates in the Consumer Goods sector within the Household Appliances industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Voltas Ltd?
Voltas Ltd has a market capitalisation of approximately ₹41621.99 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Voltas Ltd?
The Price-to-Earnings (PE) ratio of Voltas Ltd is 92.26. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Voltas Ltd?
Over the past 52 weeks, Voltas Ltd has traded between a low of ₹1,186.8 and a high of ₹1,582.5. This range helps investors understand the stock's price volatility and recent trading levels.
Does Voltas Ltd pay dividends?
Yes, Voltas Ltd has a dividend yield of 0.32%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Voltas Ltd?
Voltas Ltd has a Return on Equity (ROE) of 5.78%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Voltas Ltd on Tapetide?
On Tapetide, you can view Voltas Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Voltas is engaged in the business of air conditioning, refrigeration, electro - mechanical projects as an EPC contractor both in domestic and international geographies (Middle East and Singapore) and engineering product services for mining, water management and treatment, construction equipments and textile industry. Voltas was created 6 decades ago when Tata Sons joined hands with a swiss company Volkart Brothers. Voltas is also one of the most reputed engineering solution providers specializing in project management. [1] The company has 5,000+ Customer sites actively managed across India [2]

Website voltas.com
CEO Mr. Mukundan C. P. Menon
Employees 1,912
Listed 1994-11-07
Face Value ₹ 1
Issued Size 33,08,84,740

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