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Voltas Limited

Voltas Limited

VOLTAS.NS
Voltas LimitedIN flagNational Stock Exchange of India
1,284.50
INR
+4.30
- -
425.02BMarket Cap
Voltas Limited
VOLTAS.NS
(National Stock Exchange of India)

Recent

price

1,284.50

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
156.89
156.4
166.65
158.47
155.47
172.05
180.44
192.11
214.11
230.51
225.35
236.97
284.07
374.98
463.01
426.83
426.37
Revenue per Share
10.63
4.9
6.28
7.42
11.62
11.7
15.64
17.3
15.35
15.63
15.87
15.23
4.08
7.62
25.43
11.36
11.35
Basic EPS, GAAP
-2.84
-8.98
2.55
8.93
9.39
6.62
12.94
9.83
-9.71
11.24
16.18
16.2
-0.62
14.16
-13.1
-1.87
- -
Free Cash Flow per Basic Share
2.32
2.3
1.72
1.59
1.88
2.4
2.85
4.25
4.77
4.92
4.1
5.07
5.53
4.33
5.5
7.02
- -
Dividend per Share
5.21
7.82
11.67
16.1
26.97
35.77
47.66
59.19
65.35
75.98
87.37
96.52
96.21
98.53
117.6
121.53
121.4
Book Value per Share
38.65
42.15
46.54
52.7
73.89
83.32
98.33
116.51
122.81
127.99
149.56
164.96
163.66
174.57
195.37
191.09
190.89
Tangible Book Value per Share
331
331
331
331
331
331
331
331
331
331
331
331
331
331
331
331
331
Basic Weighted Avg Shares
51,914
51,750
55,141
52,437
51,443
56,930
59,706
63,568
70,846
76,272
74,566
78,411
93,994
124,074
153,204
141,230
141,230
Sales/Revenue/Turnover
9.33
5.92
3.84
4.65
7.53
7.2
9.31
10.21
8.46
8.58
8.36
8.23
3.09
3.44
6.98
4.27
3.98
Operating Margin (%)
210
340
278
248
280
264
245
244
240
320
339
373
396
476
618
841
841
Depreciation Expense
3,516
1,621
2,078
2,454
3,843
3,871
5,174
5,724
5,079
5,172
5,251
5,041
1,350
2,520
8,414
3,759
3,759
Net Income, GAAP
32.91
26.07
26
27.69
24.84
30.14
27.82
28.2
24.14
30
25.44
27.43
55.65
48.93
29.94
33.59
33.59
Effective Tax Rate (%)
6.77
3.13
3.77
4.68
7.47
6.8
8.67
9
7.17
6.78
7.04
6.43
1.44
2.03
5.49
2.66
2.66
Profit Margin (%)
9,258
9,633
10,657
12,296
11,140
11,760
9,475
13,264
23,619
18,646
16,853
18,233
18,270
19,683
28,724
27,752
27,752
Working Capital
93
76
60
54
43
- -
- -
- -
- -
54
57
127
465
2,490
4,004
3,906
3,906
LT Debt
13,813
14,948
16,374
18,331
25,345
28,378
33,351
39,370
41,447
43,167
50,294
55,376
54,937
58,542
65,403
63,990
63,990
Total Equity
24.49
14.25
8.98
9.21
12.77
10.29
12.5
12.62
11.06
10.73
9.99
8.84
2.3
3.8
11.91
6.01
5.61
Return on Invested Capital (%)
50.36
44.69
40.05
35.52
43.05
31.1
32.33
29.44
22.69
20
18.17
15.37
3.93
7.19
20.16
8.92
8.92
Return on Capital (%)
55.92
75.17
64.43
53.41
53.94
37.3
37.49
32.38
24.65
22.12
19.43
16.57
4.23
7.82
23.53
9.5
9.5
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
13,155
- -
6,019
LT Borrowings
4,228
- -
3,758
LT Finance Leases
167
- -
148
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
331
- -
331
Market Capitalization
448,560
450,905
421,599

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
85,425
- -
103,292
Cash, Cash Equivalents & STI
13,977
- -
15,537
Accounts Receivable, Net
17,946
- -
30,350
Inventories
31,105
- -
34,328
Total Current Liabilities
58,023
- -
75,540
Payables & Accruals
- -
- -
- -
ST Debt
13,155
- -
6,019
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
8.69%
5.09%
-2.16%
Free Cash Flow
-306.08%
-552.31%
-85.75%
Net Income, GAAP
22.44%
37.59%
-55.33%
Sales/Revenue/Turnover
10.09%
14.54%
-7.82%
Total Cash Common Dividend
13.22%
13.09%
27.56%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
33,353
22,674
26,123
41,923
124,074
2025
49,039
26,012
30,874
47,280
153,204
2026
39,123
23,144
30,528
48,435
141,230

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
3.91
1.11
-0.92
- -
7.62
2025
10.1
4.05
3.99
7.28
25.43
2026
4.25
1.03
2.57
3.51
11.36

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
4.33
2025
- -
- -
- -
- -
5.5
2026
- -
- -
- -
- -
7.02
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Business
Voltas Limited Voltas Limited (VOLTAS.NS), a Tata Group company headquartered in Mumbai, India, and founded in 1954, operates as India's largest air conditioning company by market share and a premier provider of engineering solutions and home appliances. The company manufactures, markets, and services a comprehensive portfolio of unitary cooling products including room air conditioners, commercial air conditioners, ducted ACs, VRF systems, chillers, air coolers, water coolers, water dispensers, and visi coolers; commercial refrigeration solutions such as cold rooms and medical refrigeration; and home appliances encompassing refrigerators, washing machines, dishwashers, microwaves, air purifiers, water heaters, and accessories under its own brands and the Voltas Beko joint venture with Turkey's Arçelik. It also delivers electro-mechanical projects, engineering services, HVAC systems, water management, textile machinery, and mining equipment primarily for infrastructure, government, public sector, defense, and international clients across India, the Middle East, Singapore, and other regions. In its engineering and projects segments, Voltas Limited executes turnkey solutions for large-scale domestic and international infrastructure including cooling installations in landmarks like the Burj Khalifa and Ferrari World, alongside domestic operations in manufacturing facilities at Pantnagar, Uttarakhand, and Waghodia, Gujarat. Recent developments include intensified product portfolio upgrades with enhanced features, distribution network expansion, manufacturing automation, and cost optimization to align with market demand; a leadership transition with Mukundan Menon assuming the role of Managing Director effective September 1, 2025; and a significant stake increase by Life Insurance Corporation of India to 7.089% through market purchases between September and November 2025, signaling institutional confidence.