With peak summer season ahead, Voltas may see volumes and margin gains

Q3 was disappointing on account of one-offs, margins pressures


Ram Prasad Sahu Mumbai
India’s largest room air-conditioner company, Voltas, saw some of the biggest downgrades among the top 200 stocks post the December quarter earnings. Brokerages cut the company’s FY23 earnings by an average of over 20 per cent due to losses in the quarter and margin contraction amid severe competitive pressures.

Praveen Sahay of Prabhudas Lilladher Research has revised its FY23 earnings downwards by as much as 27 per cent to factor in the margin contraction in unitary cooling products segment (UCP) segment. The segment saw a 90 basis point drop in margins in Q3 as compared to the year ago period.

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First Published: Feb 21 2023 | 7:27 PM IST

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