Voltas Ltd.

NSE: VOLTAS · Household Appliances

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52W Range₹931 – ₹1,583

Snapshot

Unlock Voltas Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Voltas Limited is a prominent Indian engineering and cooling appliance company specialising in air conditioning, electro-mechanical projects, and industrial engineering services. The company operates through three primary segments: Unitary Cooling Products, Electro-Mechanical Projects and Services, and Engineering Products and Services.

Business Model

The company generates revenue through the manufacturing and sale of consumer cooling appliances, alongside the execution of large-scale electro-mechanical and infrastructure projects. It further sustains income via long-term maintenance contracts, facility management services, and the distribution of industrial machinery and spares.

Growth Outlook

Growth is driven by increasing demand for residential cooling solutions in India and the expansion of infrastructure projects in the Middle East and domestic markets. The company continues to focus on energy management services and the diversification of its water treatment and industrial engineering portfolios.

Key Risks

  • Input Cost Volatility. Fluctuations in the prices of raw materials like copper, steel, and aluminium can significantly impact manufacturing margins.
  • Geopolitical Instability. The company's reliance on international projects in the Middle East exposes it to regional economic and political uncertainties.
  • Competitive Intensity. The highly fragmented household appliance market in India faces aggressive pricing pressure from both domestic and international competitors.
  • Project Execution Risk. Large-scale electro-mechanical projects are subject to delays, cost overruns, and complex regulatory compliance requirements.

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Key Metrics

REVENUE

₹14,979 Cr

TTM · consolidated

+3.8%YoY

NET PROFIT

₹442 Cr

TTM · consolidated

-30.9%YoY

EPS

₹13.57

TTM · consolidated

-30.7%YoY

RETURN ON EQUITY

6.9%

TTM · consolidated

-2.9 ppYoY

RETURN ON CAPITAL EMPLOYED

12.3%

TTM · consolidated

-3.5 ppYoY

P/E

77.6×

Q1 FY27 · consolidated

77.6 vs 78.5x5Y avg

EV/EBITDA

38.3x

Q1 FY27 · consolidated

38.3 vs 44.1x5Y avg

EBITDA MARGIN

6.6%

TTM · consolidated

-1.7 ppYoY

NET PROFIT MARGIN

4.6%

Q1 FY27 · consolidated

+1.0 ppYoY

DEBT TO EQUITY

0.1x

Q1 FY27 · consolidated

+0.02xYoY

Peers · Household Appliances

CompanyMkt CapP/E (TTM)EV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Voltas Ltd.VOLTAS
₹37,390 Cr77.6×38.323.8%6.6%6.9%12.3%-22.2%
Blue Star Ltd.BLUESTARCO
₹31,513 Cr58.9×32.695.9%7.6%15.7%21.3%-22.3%
Amber Enterprises India Ltd.AMBER
₹24,915 Cr238.2×23.9014.6%9.1%3.7%10.3%-21.1%
Crompton Greaves Consumer Electricals Ltd.CROMPTON
₹14,387 Cr-58.4×15.607.9%11.0%-6.7%-0.5%-30.8%
V-Guard Industries Ltd.VGUARD
₹13,823 Cr35.4×22.0913.4%9.9%16.3%20.0%-20.4%
Whirlpool of India Ltd.WHIRLPOOL
₹10,978 Cr43.6×16.636.0%7.5%6.2%8.1%-26.5%

As of Q1 FY27

Financials