Voltas

Industry estimates show only a tenth of Indian households own an AC, compared to two-thirds in China and one-third in Thailand

Voltas posted largely in-line revenue for Q3, but better-than-expected profitability, particularly in its UCP segment, prompted a reassessment of near-term margin trends among analysts.

Leading air-conditioning maker and engineering services provider Voltas Ltd on Thursday reported a 35.4 per cent decline in its consolidated net profit to Rs 84.46 crore for the December quarter of FY26. It had posted a consolidated net profit of Rs 130.76 crore in the October-December period a year ago, according to a regulatory filing from the Tata Group firm. Voltas' revenue from operations declined 1.1 per cent to Rs 3,070.77 crore in the December quarter of FY26, compared with Rs 3,105.11 crore in the corresponding quarter of the previous fiscal. Total expenses of Voltas stood at Rs 2,945.19 crore, almost flat in the December quarter. Commenting on the results, its Managing Director Mukundan Menon C P said: "In Q3, the Room Air Conditioner business remained the anchor of our overall performance, navigating inherent seasonality and the impact of a shorter second summer through stronger channel momentum, improved product mix, and the benefit of the GST rate reduction." In the .

In an exclusive interview, Mukundan Menon, the managing director of Voltas, talks about protecting its turf in a competitive market

HDFC Securities has maintained its Add rating on Voltas, valuing the company using a sum of the parts (SOTP) approach, implying 40 times March 2028 EPS, to arrive at a target price of ₹1,430 per share

Voltas management has indicated that Q3FY26 trends are in line with internal expectations, with most sales still driven by products under the old energy rating table.

Appellate tribunal NCLAT has rejected a plea against Voltas, which sought to initiate insolvency proceedings against the Tata Group firm by one of its operational creditors. A two-member NCLAT bench has upheld the earlier orders of the Mumbai-bench of the National Company Law Tribunal (NCLT), which had on May 27, 2025 rejected the petition on the grounds of a pre-existing dispute. NCLAT upheld the findings of NCLT, saying it "has committed no mistake" in finding that the email chain between appellant Air Wave Technocrafts and Voltas "reflects ongoing disputes" regarding work certification, amounts, and supporting documentation. "We see no reason to take a different view in the matter from that of the Adjudicating Authority (NCLT) in rejecting the Section 9 application on valid grounds of pre-existing disputes. In result, we find no merit in the Appeal. We find no reasons to interfere with the impugned order. The Appeal is dismissed," said NCLAT. NCLAT order came over a petition fil

Outlook for listed consumer durable majors may stay muted

Analysts highlighted elevated channel inventory, delayed consumer purchases, and a weak summer season as key challenges for the quarter for Voltas.

Brokerages trim FY26 estimates for 130 of 192 BSE 200 companies, with a median EPS downgrade of 3.5%

The Nifty Consumer Durable Index, which tracks the performance of 15 stocks in the consumer durables sector, jumped by 3.14 per cent, reaching an intra-day high of 38,503

Voltas Q1 revenue fell 20% on unseasonal rains and weaker AC sales, with margins hit; management expects festive season and "second summer" demand to aid recovery

The early arrival of the monsoon impacted seasonal sales for Room ACs, making Q1 a more subdued start to the year.

Voltas shares fell 8 per cent after its June quarter earnings missed estimates, with its profit falling 58 per cent

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Revenue from operations also fell 20% to 39.39 billion rupees, steeper than the roughly 10% drop that analysts were expecting

Electronics companies, including Samsung and Voltas, argue that government-mandated pricing for e-waste disposal increases costs and goes against the objectives of the Environment Protection Act

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