ALFA Finder| Revenue growth | 18% YoY growth driven by 45% surge in RAC volumes. |
|---|---|
| Margins | UCP margins stuck at 5.3%; high costs delaying target return to 7-8%. |
| Order book | Segment B order book stands at 6,345 crores; execution timing remains variable. |
| Demand visibility | Strong for cooling; channel inventory stable at four weeks. |
| Management confidence | Cautious; acknowledging margin pressure despite massive volume and market share gains. |
Growth
Revenue grew 18% YoY; RAC segment jumped 33%. Growth is purely volume-led via aggressive market share expansion.
Outlook
Aimed 7-8% UCP margins are now delayed. 50-50 compressor JV with Atomberg targeted for FY28 production.
Risks
EBITDA margins remain depressed at 5.3% due to inability to fully pass through 10-12% cost inflation.
Last quarter's promises, checked
Delivered
- Guided progressive recovery in Q4 → delivered 18% revenue growth (= BEAT)
- Guided leadership in cooling segment → delivered 45% volume surge (= BEAT)
- Targeted March 2026 record sales → delivered highest-ever sales month (= BEAT)
Partly delivered
- Guided inventory normalization → delivered 30-45 days channel inventory (= PARTIAL)
- Guided cost reduction impact → delivered benefits offset by 10-12% inflation (= PARTIAL)
Missed
- Guided FY25 margin levels (8.4%) → delivered 5.3% UCP margin (= MISS)
- Targeted margin resilience → delivered 85 bps gross margin decline (= MISS)
Earnings Call Transcript filed with BSE, NSE: VOLTAS. Summary written with AI assistance from the document.
Voltas Ltd: key numbers
- Share price
- ₹1,114.70
- Market cap
- ₹36,884 Cr
- Revenue (annual)
- ₹14,244 Cr
- Net profit (annual)
- ₹375.9 Cr
- P/E (TTM)
- 78.9×Sector 44.3×
- Promoter holding
- 30.30%+0.00% QoQ
- FII holding
- 16.94%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Voltas Ltd
All →Voltas Earnings Call Transcript: Key Takeaways
Q2 FY27: consolidated income up 13.8% to ₹2,746 Cr; PAT ₹48 Cr (vs ₹32 Cr) on RAC volume +32%. Margins pressured by commodity and currency costs; management defers recovery to Q3-Q4 without quantified guidance.
Voltas Investor Presentation: Key Takeaways
Q2 FY27 consolidated total income ₹2,746 cr (+14% YoY), PBT ₹83 cr, PAT ₹48 cr. RAC volume +32%, UCP revenue +29%.
Voltas Board Meeting Outcome
Voltas Limited's board approved Deloitte Haskins & Sells as statutory auditors for five years from the 73rd AGM, replacing SRBC & Co. LLP, whose second and final term ends at that AGM. Subject to shareholder approval.
- Execution
- Five years: financial years 2027-28 to 2031-32 (from the 73rd AGM in 2027 to the 78th AGM in 2032)
Voltas Management Change
Voltas Limited's board approved changes in leadership: Noel Tata retires as Chairman, Sunil D'Souza becomes Chairman, and Jayant Balan is named future MD. Venkatesalu Palaniswamy joins as a non-independent director.
Voltas Q2 FY27 Results: Net Profit ₹47.7 Cr, Up 51.4% YoY
Voltas Ltd reported revenue from operations of ₹2,707 Cr (+15.3% YoY) and net profit of ₹47.7 Cr (+51.4% YoY) for Q2 FY27.
- Key figure
- Net profit ₹47.7 Cr · +51.4% YoY
Voltas Board Meeting Date
Voltas has scheduled its Board of Directors meeting for 6 November 2026 to approve Q2 FY27 standalone and consolidated financial results. No financial figures or other decisions are disclosed in this advance notice.