Earnings Call/Transcript
Voltas Q2 FY27 Earnings Call Transcript
Voltas filed the transcript of its Q2 FY27 earnings conference call held on 6 November 2026, discussing business performance and outlook.
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Consumer Durables
Household Appliances
37,592 Cr
High Risk
82.0
43.5
1.9
5.6
1,582.00
930.30
Sales CAGR
Profit CAGR
ROE
ROCE
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Bearish
7
Neutral
2
Bullish
5
Bearish
16
Neutral
2
Bullish
28
Bearish
9
Neutral
0
Bullish
23
Voltas Ltd (VOLTAS) is currently trading at 1,136.10 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.
Voltas Limited manufactures and sells cooling products, home appliances, and commercial refrigeration equipment, while also executing electro-mechanical projects and supplying mining, construction, and textile machinery. Its three operating pillars are Unitary Cooling Products, Electro-Mechanical Projects and Services, and Engineering Products and Services, supported by manufacturing, distribution, project execution, and aftermarket capabilities. Voltas Limited delivered 32% RAC volume growth in Q2 FY27 and increased its year-to-date market share to 17.4%, widening its lead over the nearest competitor to 4.2 percentage points. The company is deliberately prioritizing market-share gains and absolute gross margin over percentage margin optimization, expecting procurement scale, distribution reach, and replacement demand to improve profitability over time. The quarter exposed a significant cost-pass-through mismatch: management estimated approximately 18% cost inflation against 14% price increases through Q2, with an additional 5%-7% increase implemented from October. Currency movements, ocean freight, metals, plastics, and components compressed margins, but management believes the latest pricing actions have broadly restored the economic gap. Voltbek recorded its highest quarterly sales in value and volume, reaching approximately 8.8% washing-machine and 7% refrigerator market share by September 2026. Nevertheless, management expects EBITDA break-even only during the next financial year, highlighting both the scale opportunity in white goods and the continuing profitability burden of building a challenger brand. Voltas Limited's consolidated total income rose to INR2,746 crores from INR2,412 crores, while profit before tax increased to INR83 crores and net profit to INR48 crores. The projects segment retained an order book above INR6,800 crores, and international contingent exposure improved after cancellation of QAR167 million in Sidra bank guarantees following a favorable court outcome.
Over the past 52 weeks, Voltas Ltd has traded between a low of ₹930.30 and a high of ₹1,582.00. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.
Voltas Ltd has a market capitalization of approximately 37,591.82. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.
Voltas Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of 82.01 and operates in the its sector sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.
Based on its market capitalization of 37,591.82 Cr, Voltas Ltd is classified as a Mid Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.
Voltas Ltd operates in the its sector sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.
The Price-to-Earnings (PE) ratio of Voltas Ltd is 82.01. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.
Voltas said RAC prices were locked for four, five or six months from around February, while input costs moved sharply during the selling season. The affected channels include organised trade and modern trade, which together account for 35% of Voltas' RAC volume. Management also said 70% of RAC calendar-year sales occur between January and June, concentrating the exposure.
Voltas said it aims to manufacture roughly 75%-80% of RACs in-house on an annualised basis. Management said the proportion can move by quarter, so it is not a fixed production split for every season.
Voltas said the channel was carrying roughly three weeks of room-air-conditioner inventory at the point discussed on the call. Management said the level was not more than three weeks and described channel stock as minimized.
Voltas reported 17.4% share of the room air-conditioner market in the year to date through September. Management said this left Voltas 4.2 percentage points ahead of the number-two brand.
