Voltas Ltd.
Voltas Limited operates as an air conditioning and engineering solutions provider primarily in India, the Middle East, Africa, and internationally. It operates through three segments: Unitary Cooling Products; Electro - Mechanical Projects and Services; and Engineering Products and Services. The company manufactures, sells, and services cooling appliances and cold storage products, such as room air conditioners, water dispensers and coolers, visi coolers, chest and convertible freezers, cold rooms, medical refrigeration, air coolers and purifiers, water heaters, ducted AC, variable refrigerant flow, cassette and tower AC, and chillers, as well as refrigerators, washing machines, microwave ovens, dishwashers, dry iron, and mixer grinders. It also offers a comprehensive range of electro-mechanical services, including HVAC (heating, ventilation, and air conditioning), electrical systems, plumbing, firefighting, extra low voltage, and specialized services. In addition, the company provides facilities maintenance services, such as operations and maintenance contracts in various sectors, AMCs, retrofit jobs, etc. Further, it engages in the provision of water treatment solutions for industrial and domestic sewage segments, as well as last mile connectivity of water tab under various government schemes; sale and service of capital machinery for textile industry; sale of spares and accessories for textile equipment; and sale of mining and construction equipment. Additionally, the company offers operations and maintenance services for mining and construction industry; undertakes rural electrification, power augmentation, substations, industrial electrification, and solar projects related to engineering, procurement, and construction. Furthermore, it engages in manufacturing of ducts and ducts accessories; drilling, irrigation, and landscaping activities; and construction of water treatment plants. Voltas Limited was incorporated in 1954 and is headquartered in Mumbai, India.
Valuation
Profitability
Returns
Solvency
AI Summary
Indian StockRule-based from financial data. Not advice.
Historically, Feb has averaged the highest return (+8.3%); May the lowest (-6.6%).
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -2.4%Negative MonthJan 2026: -2.36% | +17.7%Positive MonthFeb 2026: +17.72% | -18.8%Negative MonthMar 2026: -18.77% | +12.6%Positive MonthApr 2026: +12.60% | -11.4%Negative MonthMay 2026: -11.36% | +0.8%Neutral MonthJun 2026: +0.77% | +3.9%Positive MonthJul 2026: +3.85% | -8.3%*Negative MonthAug 2026: -8.34% | β | β | β | β |
| 2025 | -29.6%Negative MonthJan 2025: -29.64% | +4.5%Positive MonthFeb 2025: +4.45% | +10.7%Positive MonthMar 2025: +10.74% | -15.4%Negative MonthApr 2025: -15.36% | +2.4%Positive MonthMay 2025: +2.38% | +4.0%Positive MonthJun 2025: +3.99% | +1.2%Neutral MonthJul 2025: +1.18% | +3.2%Positive MonthAug 2025: +3.22% | -1.5%Neutral MonthSep 2025: -1.50% | +2.4%Positive MonthOct 2025: +2.39% | -0.6%Neutral MonthNov 2025: -0.57% | -1.1%Neutral MonthDec 2025: -1.14% |
| 2024 | +11.8%Positive MonthJan 2024: +11.81% | +1.3%Neutral MonthFeb 2024: +1.34% | -0.5%Neutral MonthMar 2024: -0.46% | +33.7%Positive MonthApr 2024: +33.66% | -7.8%Negative MonthMay 2024: -7.82% | +8.3%Positive MonthJun 2024: +8.26% | +4.4%Positive MonthJul 2024: +4.42% | +13.5%Positive MonthAug 2024: +13.53% | +5.8%Positive MonthSep 2024: +5.78% | -10.6%Negative MonthOct 2024: -10.61% | +0.5%Neutral MonthNov 2024: +0.45% | +8.1%Positive MonthDec 2024: +8.12% |
| 2023 | -0.1%Neutral MonthJan 2023: -0.13% | +11.2%Positive MonthFeb 2023: +11.17% | -8.3%Negative MonthMar 2023: -8.26% | -2.4%Negative MonthApr 2023: -2.36% | +2.9%Positive MonthMay 2023: +2.87% | -7.6%Negative MonthJun 2023: -7.55% | +0.4%Neutral MonthJul 2023: +0.42% | +14.0%Positive MonthAug 2023: +14.01% | -0.8%Neutral MonthSep 2023: -0.79% | -3.0%Negative MonthOct 2023: -2.98% | -1.2%Neutral MonthNov 2023: -1.23% | +18.3%Positive MonthDec 2023: +18.32% |
| 2022 | -2.9%Negative MonthJan 2022: -2.95% | +6.7%Positive MonthFeb 2022: +6.67% | -1.4%Neutral MonthMar 2022: -1.41% | +1.3%Neutral MonthApr 2022: +1.31% | -19.1%Negative MonthMay 2022: -19.14% | -4.6%Negative MonthJun 2022: -4.57% | +3.3%Positive MonthJul 2022: +3.26% | -0.4%Neutral MonthAug 2022: -0.38% | -9.4%Negative MonthSep 2022: -9.43% | -3.3%Negative MonthOct 2022: -3.34% | -6.5%Negative MonthNov 2022: -6.51% | -1.9%Neutral MonthDec 2022: -1.91% |
| 2021 | β | β | β | β | β | +1.6%Neutral MonthJun 2021: +1.56% | +3.6%Positive MonthJul 2021: +3.62% | -6.0%Negative MonthAug 2021: -6.05% | +22.5%Positive MonthSep 2021: +22.49% | -1.2%Neutral MonthOct 2021: -1.20% | -0.3%Neutral MonthNov 2021: -0.26% | +1.5%Neutral MonthDec 2021: +1.50% |
| AvgΒ±SD |
Each cell is the percentage change in closing price from the end of the prior month to the end of this month. The bottom row shows the average return for that calendar month across the selected years, plus or minus one standard deviation β the range that historically contained roughly two-thirds of outcomes. Past monthly patterns are not a forecast of future returns.
This aggregates every month by calendar position β all Januaries together, all Februaries together, and so on β to show whether a given month has leaned positive or negative historically. βSimpleβ counts each month as +1 or β1. βWeightedβ gives larger moves more influence: +2 above +10%, β2 below β10%. With only 6 years of history for this asset, each monthβs score reflects a small number of observations β read it as a historical tendency, not a reliable seasonal pattern.
This tracks a running tally across the assetβs full price history: each month adds or subtracts based on whether it was positive or negative. A rising line means more positive months than negative so far; a flattening or falling line means recent months have leaned negative. This measures historical month-to-month consistency, not expected future performance.
Year-to-date return is calculated by dividing each dayβs closing price by the price on January 1st of that year (or the assetβs first available price if it began trading mid-year). The custom average line shows the mean YTD return at each calendar day across the selected years. The standard deviation band shows the range within which returns have historically fallen β at 1 SD, roughly two-thirds of years; at 2 SD, roughly 95%. Past year-to-date patterns do not predict future returns. The average and standard deviation band are computed from the year set chosen in βAverage fromβ, which is independent of which year lines are displayed. The current in-progress year is excluded from these calculations, since a partial year is not comparable to complete ones. Election-cycle groupings follow the US presidential calendar and are offered only for US and crypto assets.
Historical Performance
Revenue, profitability, and cash flow trends (βΉ Crores)
Revenue (10Y)
Operating Income (10Y)
Net Profit (10Y)
Operating Margin % (10Y)
Dividend Payout % (10Y)
Free Cash Flow (10Y)
Growth Summary
Latest fiscal year: Mar 2025
Historical Growth
Year-by-year revenue, profitability, and cash flow (βΉ Crores, last 10 years)
| Year | Revenue | Op. Income | Net Profit | CFO | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|---|
| Mar 2025 | βΉ11.30 K Cr | β | βΉ777.00 Cr | β | β | 9.6% | 30.0% | 28.6% |
| Mar 2024 | βΉ8.69 K Cr | β | βΉ604.00 Cr | β | β | 8.1% | 13.2% | -57.0% |
| Mar 2023 | βΉ7.67 K Cr | β | βΉ1.41 K Cr | β | β | 20.7% | 8.1% | 141.0% |
| Mar 2022 | βΉ7.10 K Cr | β | βΉ583.00 Cr | β | β | 10.5% | 11.3% | 2.3% |
| Mar 2021 | βΉ6.38 K Cr | β | βΉ570.00 Cr | β | β | 11.4% | -11.5% | -4.2% |
| Mar 2020 | βΉ7.21 K Cr | β | βΉ595.00 Cr | β | β | 14.1% | 7.7% | 28.2% |
| Mar 2019 | βΉ6.69 K Cr | β | βΉ464.00 Cr | β | β | 12.4% | 15.2% | -7.4% |
| Mar 2018 | βΉ5.81 K Cr | β | βΉ501.00 Cr | β | β | 14.3% | 7.4% | 3.1% |
| Mar 2017 | βΉ5.41 K Cr | β | βΉ486.00 Cr | β | β | 16.3% | 5.1% | 39.3% |
| Mar 2016 | βΉ5.15 K Cr | β | βΉ349.00 Cr | β | β | 13.9% | -0.4% | 6.1% |
Financial Statements
Income statement, balance sheet, and cash flow (βΉ Crores, as reported)
Consolidated Figures in USD Millions.
| Unnamed: 0 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue / Net Sales | 5,151 | 5,169 | 5,149 | 5,410 | 5,809 | 6,693 | 7,207 | 6,378 | 7,099 | 7,675 | 8,688 | 11,296 | 10,192 |
| Total Expenses | 4,987 | 4,862 | 4,926 | 4,992 | 5,332 | 6,307 | 6,552 | 5,815 | 6,454 | 7,247 | 8,165 | 10,570 | 9,741 |
| EBIT / Operating Profit | 164 | 307 | 223 | 419 | 477 | 386 | 655 | 562 | 644 | 428 | 522 | 726 | 452 |
| OPM % | 3% | 6% | 4% | 8% | 8% | 6% | 9% | 9% | 9% | 6% | 6% | 6% | 4% |
| Other Income | 128 | 166 | 292 | 260 | 233 | 287 | 195 | 220 | 167 | 1,149 | 300 | 401 | 360 |
| Finance Costs | 16 | 16 | 8 | 10 | 8 | 23 | 9 | 19 | 15 | 12 | 21 | 35 | 45 |
| Depreciation & Amortisation | 19 | 22 | 19 | 18 | 19 | 20 | 29 | 30 | 33 | 36 | 43 | 56 | 69 |
| Profit Before Tax | 257 | 434 | 488 | 651 | 683 | 631 | 813 | 733 | 763 | 1,528 | 758 | 1,036 | 697 |
| Tax % | 29% | 24% | 28% | 25% | 27% | 26% | 27% | 22% | 24% | 8% | 20% | 25% | - |
| Net Profit / PAT | 181 | 329 | 349 | 486 | 501 | 464 | 595 | 570 | 583 | 1,405 | 604 | 777 | 540 |
| EPS (βΉ) | 5.48 | 9.95 | 10.56 | 14.69 | 15.15 | 14.04 | 17.98 | 17.24 | 17.63 | 42.47 | 18.26 | 23.48 | 16.30 |
| Dividend Payout % | 34% | 23% | 25% | 24% | 26% | 28% | 22% | 29% | 31% | 10% | 30% | 30% | - |
Peer Comparison
Consumer Discretionary sector peers, ranked by market cap
| Company | Market Cap | Revenue | P/E | P/B | EV/EBITDA | Rev G 1Y |
|---|---|---|---|---|---|---|
| Voltas Ltd.this co. | βΉ48.32 K Cr | βΉ11.30 K Cr | 89.60 | 6.01 | 57.95 | 30.0% |
| Titan Company Limited | βΉ3.76 L Cr | βΉ54.84 K Cr | 96.60 | 21.09 | 69.49 | 16.4% |
| Eternal Limited | βΉ2.84 L Cr | βΉ8.62 K Cr | 120.00 | 7.95 | 193.91 | 30.1% |
| Avenue Supermarts Limited | βΉ2.49 L Cr | βΉ57.79 K Cr | 79.80 | 10.46 | 57.86 | 16.7% |
| Trent Ltd [Lakme Ltd] | βΉ1.39 L Cr | βΉ16.67 K Cr | 82.40 | 21.09 | 49.02 | 39.8% |
| Marico Limited | βΉ98.15 K Cr | βΉ7.58 K Cr | 52.30 | 19.38 | 63.51 | 8.3% |
| SWIGGY LIMITED | βΉ96.87 K Cr | βΉ8.80 K Cr | β | 7.26 | -63.92 | 38.0% |
| Industry Average | β | βΉ4.70 K Cr | 80.04 | 7.96 | 62.25 | 24.3% |
