Voltas
Voltas Ltd valuation: P/E, P/B and sector benchmarks.
Twelve years of multiples investors have paid for Voltas Ltd, framed against the sector median so the premium or discount is obvious at a glance.
Voltas Ltd trades at a P/E of 113.49× and P/B of 6.71×, against the Consumer Cyclical sector median P/E of 33.60×.
Valuation
Profitability
Growth
Financial Health
Voltas Ltd financials: P&L, balance sheet, cash flow, ratios.
Twelve years of audited numbers for Voltas Ltd, switchable between annual and quarterly views, consolidated or standalone.
Voltas Ltd reports its full P&L, balance sheet, cash flow and ratios on this page — current market capitalisation of ₹43,885.24 Cr and reported EPS of ₹11.31.
| Period | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | 6,428 | 7,124 | 7,658 | 7,457 | 7,934 | 9,499 | 12,481 | 15,413 | 14,245 |
| Other Income | 174 | 186 | 231 | 288 | 189 | 168 | 253 | 324 | 238 |
| Total Income | 6,602 | 7,310 | 7,889 | 7,745 | 8,124 | 9,667 | 12,734 | 15,737 | 14,483 |
| Cost of Goods Sold (COGS) | 4,568 | 5,262 | 5,555 | 5,578 | 5,897 | 7,378 | 9,814 | 11,960 | 11,070 |
| Gross Profit | 1,860 | 1,862 | 2,103 | 1,878 | 2,038 | 2,121 | 2,667 | 3,452 | 3,175 |
| +Operating Expenses | 1,198 | 1,250 | 1,416 | 1,336 | 1,356 | 1,548 | 2,193 | 2,336 | 2,528 |
| EBITDA | 663 | 612 | 687 | 542 | 682 | 572 | 475 | 1,116 | 647 |
| +Non-Operating Expenses | 37 | 45 | 2 | 60 | 63 | -175 | 103 | 124 | 144 |
| Profit Before Tax (PBT) | 801 | 729 | 813 | 770 | 808 | 428 | 624 | 1,317 | 688 |
| +Tax Expense | 227 | 164 | 223 | 180 | 191 | 171 | 238 | 356 | 187 |
| Profit After Tax (PAT) | 578 | 514 | 521 | 529 | 506 | 136 | 248 | 834 | 370 |
| Earnings Per Share (EPS) | 17.30 | 15.35 | 15.63 | 15.87 | 15.23 | 4.08 | 7.62 | 25.43 | 11.36 |
| Diluted Shares Outstanding (Nos.) | 33 | 33 | 33 | 33 | 33 | 33 | 33 | 33 | 33 |
| +Additional Disclosures | 10,542 | 11,761 | 12,325 | 12,817 | 13,274 | 16,216 | 22,037 | 26,282 | 24,423 |
| Sales Growth % | — | 10.83 | 7.50 | -2.63 | 6.41 | 19.72 | 31.40 | 23.49 | -7.58 |
| YoY Sales Growth % | — | 10.83 | 7.50 | -2.63 | 6.41 | 19.72 | 31.40 | 23.49 | -7.58 |
| Material Cost % | 44 | 50 | 43 | 46 | 51 | 51 | 54 | 53 | 58 |
| Employee Cost % | 9 | 9 | 9 | 8 | 8 | 7 | 6 | 6 | 7 |
| Other Cost % | 10 | 9 | 10 | 10 | 9 | 9 | 11 | 9 | 11 |
| OPM % | 10 | 9 | 9 | 7 | 9 | 6 | 4 | 7 | 5 |
| Tax % | 28 | 22 | 27 | 23 | 24 | 40 | 38 | 27 | 27 |
| Profit Growth % | — | -11.08 | 1.40 | 1.49 | -4.31 | -73.08 | 82.14 | 236.25 | -55.65 |
| Gross Margin % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA Margin % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Coverage Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Additional Fields | 638 | 588 | 655 | 508 | 644 | 533 | 427 | 1,054 | 563 |
Voltas segment analysis: revenue and profit mix.
Disclosed business segments at Voltas with their share of revenue and profit, switchable between consolidated and standalone reporting.
Voltas discloses revenue and profit across multiple business segments — toggle between consolidated and standalone views to see the mix.
Segment-wise Financial Analysis
Voltas Ltd investment thesis: bull case, bear case, and the flip lines.
Why someone would buy Voltas Ltd, why someone wouldn't, and the quantitative tripwires that would force the call to flip.
Voltas Ltd's investment case rests on 10 positive markers and 10 flagged concerns drawn from the latest reported filings.
What you're getting.
Robust operational efficiency. ROE 13.50%, ROCE 17.60% for effective capital.
Healthy financial structure. Low 0.14 debt-to-equity ratio indicates manageable debt.
Consistent 30.30% promoter holding signals strong management confidence and alignment.
Diversified business model across cooling, electro-mechanical, and engineering services.
Substantial market capitalization of ₹46,820 crore reinforces strong industry presence.
What can break it.
Significant -58.00% quarterly profit decline indicates considerable earnings volatility.
High P/E ratio of 72.30 suggests potential overvaluation against current earnings.
Declining -20.00% quarterly sales highlights challenges in recent revenue generation.
Zero 5-year CAGR for Free Cash Flow indicates poor cash generation.
FII holdings declined from 24.67% to 20.26%, signaling reduced foreign investor confidence.
What would change my mind.
Trim if P/E re-rates above 148 (~4.4× the sector multiple of 33.6). The valuation cushion thins from there.
Reassess if quarterly profit growth prints below 0% for two consecutive quarters. The bull case relies on compounding earnings.
Watch interest coverage if debt-to-equity climbs above 16.01. Balance sheet risk re-prices growth multiples fast.
Exit if ROE slips below 8%. The operating engine is no longer compounding capital efficiently.
Voltas Ltd peer comparison — same-sector benchmarks.
Same-sector listed peers ranked on P/E, market cap, dividend yield and growth — Voltas Ltd is highlighted for quick read-across.
Quick Compare
Peer Comparison
Voltas Ltd technical analysis: indicators, pivots and CPR.
Live RSI, MACD and moving-average signals plus today's pivot and Central Pivot Range levels for Voltas Ltd — derived from the live tape, not yesterday's close.
Voltas Ltd last traded at ₹1,327.6 with an intraday range of ₹1,318.8–₹1,342.8 — live indicator, pivot and CPR signals below.
Pivot points
Standard pivot — most widely referenced.
Pivot levels · Classic
Live: ₹1327.60| Level | Price (₹) | Distance | % Δ |
|---|---|---|---|
| R4 | 1388.67 | +61.07 | +4.60% |
| R3 | 1364.67 | +37.07 | +2.79% |
| R2 | 1353.73 | +26.13 | +1.97% |
| R1 | 1340.67 | +13.07 | +0.98% |
| PIVOT | 1329.73 | 2.13 | 0.16% |
| CURRENT | 1327.60 | — | — |
| S1 | 1268.67 | -58.93 | -4.44% |
| S2 | 1292.67 | -34.93 | -2.63% |
| S3 | 1305.73 | -21.87 | -1.65% |
| S4 | 1316.67 | -10.93 | -0.82% |
VOLTAS is trading Below CPR, indicating Bearishness
CPR is Average
Day's range: 1322 ~ 1337.9
Trading Inside opening range
Voltas Ltd chart patterns: breakouts, tops and bottoms.
Auto-detected classical chart patterns for Voltas Ltd — Double Top/Bottom, Head & Shoulders, Triple Bottom and more — with break levels, targets and quality scores across Intraday, Daily and Weekly timeframes.
Voltas Ltd delivery volume — last 20 sessions of conviction.
Daily traded volume and delivery percentage for Voltas Ltd over 20 sessions — the gap between intraday flipping and genuine accumulation.
Latest session delivery in Voltas Ltd stood at 47.8% of traded volume, against a 20-day average of 42.3%.
Voltas announcements: results, concalls, ratings, M&A.
Filings Voltas sent to the exchanges, sequenced as they hit the tape — concall transcripts, results, credit ratings and presentations.
Voltas files concall transcripts, results, credit ratings and corporate-action notices on the NSE and BSE exchange portals — latest 113 documents below.
Copy of Newspaper Publication
Voltas Limited has informed the Exchange about Copy of Newspaper Publication
Analysts/Institutional Investor Meet/Con. Call Updates
Voltas Limited has informed the Exchange about Schedule of meet
Copy of Newspaper Publication
Voltas Limited has informed the Exchange about Copy of Newspaper Publication
Certificate under SEBI (Depositories and Participants) Regulations, 2018
Voltas Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018
Appointment
Pursuant to Regulation 30 read with Schedule III of the SEBI Listing Regulations read with the relevant SEBI Circulars, we wish to inform that Ms.…
Investor decks & rating reports.
Investor Presentation
Investor Presentation
Investor Presentation
Investor Presentation
Investor Presentation
Voltas dividend history, splits and bonus issues.
Every dividend, stock split and bonus issue Voltas has declared, sequenced by announce and record date.
Voltas corporate-action history below covers all declared dividends, stock splits and bonus issues recorded with NSE and BSE.
About Voltas Ltd: business, sector, key facts.
What Voltas Ltd does, where it operates, the people running it, and the numbers that describe the entity behind the ticker.
Voltas Ltd operates in the Consumer Cyclical, listed as NSE: VOLTAS, BSE: 500575.
Voltas Limited is a prominent Indian multinational company specializing in air conditioning and engineering solutions. Its operations span across India, the Middle East, Africa, and other international markets, focusing on diverse sectors and offering a wide range of products and services.
The company's business is structured into three key segments. The Unitary Cooling Products segment focuses on the manufacturing, sales, and servicing of a comprehensive array of cooling appliances and cold storage solutions. This includes a wide variety of air conditioners (room ACs, ducted ACs, VRF, cassette and tower ACs, chillers), refrigerators, water coolers and dispensers, freezers, cold rooms, and medical refrigeration units, as well as other home appliances like washing machines, microwave ovens, and small kitchen appliances.
The Electro-Mechanical Projects and Services segment provides a broad spectrum of engineering services, primarily in HVAC (heating, ventilation, and air conditioning) systems, electrical work, plumbing, fire safety systems, and low-voltage systems. A significant component of this segment involves facilities maintenance, encompassing operations and maintenance contracts, annual maintenance contracts (AMCs), and retrofitting projects across various industries.
The Engineering Products and Services segment encompasses a diverse portfolio of activities. This includes water treatment solutions for both industrial and domestic applications, contributing to government water supply initiatives. It also involves the sales and servicing of machinery for the textile industry, offering spares and accessories. Furthermore, this segment covers the sales of mining and construction equipment, related operations and maintenance services, and undertaking projects in rural electrification, power augmentation, substations, and industrial electrification, alongside solar projects through engineering, procurement, and construction (EPC) contracts. Additional activities include duct manufacturing, drilling, irrigation, landscaping, and the construction of water treatment plants.
In essence, Voltas Limited presents a diversified business model, combining manufacturing and sales of cooling products with comprehensive engineering, procurement, and construction services across diverse sectors. This breadth of offerings contributes to its significant presence in the Indian and international markets.
Questions investors ask about Voltas Ltd (VOLTAS).
Quick answers grounded in this page's data — price action, fundamentals, ratios and ownership.
01What is the current share price of Voltas Ltd (VOLTAS)?
The current share price of Voltas Ltd (VOLTAS) is ₹1,327.6. Today, the stock has gained by ₹1.20 (0.09%), trading in a range of ₹1,318.8 to ₹1,342.8. The stock opened at ₹1,328.7 with a trading volume of 9,07,947 shares.
02Is Voltas Ltd stock a good investment for long-term?
Voltas Ltd can be considered for long-term investment based on several factors. The company has a market capitalization of ₹43,885.24 crores, P/E ratio of 113.49, ROE of 5.72%, and ROCE of 17.60%. The dividend yield stands at 0.31%. However, investment decisions should be based on your financial goals, risk appetite, and thorough research. It's recommended to consult with a SEBI-registered financial advisor before making investment decisions.
03What is the 52-week high and low price of Voltas Ltd stock?
The 52-week high price of Voltas Ltd (VOLTAS) is ₹1,582.5, while the 52-week low is ₹1,186.8. Currently trading at ₹1,327.6, the stock is 35.6% away from its 52-week low and 16.1% below its 52-week high. These levels help investors understand the stock's price volatility and trading range over the past year.
04Should I buy Voltas Ltd stock at the current price?
Whether to buy Voltas Ltd stock at ₹1,327.6 depends on multiple factors. The stock is currently trading with a P/E ratio of 113.49 and P/B ratio of 6.71. Today's performance shows a gain of 0.09%. Consider analyzing the company's fundamentals, technical indicators, industry trends, and your investment horizon. Compare these metrics with industry peers and consult a financial advisor for personalized advice.
05What is the dividend yield of Voltas Ltd and when is the next dividend?
Voltas Ltd offers a dividend yield of 0.31%, which means for every ₹100 invested at the current price of ₹1,327.6, you can expect to receive approximately ₹0.31 annually as dividends. The face value of the stock is ₹1.00. For information about the next dividend announcement and ex-dividend date, please check the company's official announcements or visit the BSE/NSE websites.
06What are the key financial ratios and metrics of Voltas Ltd?
Voltas Ltd's key financial metrics include: P/E Ratio: 113.49, P/B Ratio: 6.71, ROE: 5.72%, ROCE: 17.60%, Dividend Yield: 0.31%, EPS: ₹11.31, Book Value: ₹191.31, and Debt-to-Equity: 15.51. The company's market cap stands at ₹43,885.24 crores. These metrics help evaluate the company's valuation, profitability, and financial health.
07How is Voltas Ltd stock performing today in the market?
Voltas Ltd stock opened at ₹1,328.7 and is currently trading at ₹1,327.6, showing a gain of ₹1.20 (0.09%). The intraday high is ₹1,342.8 and low is ₹1,318.8. The trading volume stands at 9,07,947 shares, indicating moderate market participation today.
08What is the P/E ratio of Voltas Ltd and what does it indicate?
Voltas Ltd has a Price-to-Earnings (P/E) ratio of 113.49, which means investors are willing to pay ₹113.49 for every ₹1 of earnings. With an EPS of ₹11.31, this P/E ratio suggests the stock may be trading at a premium, possibly due to high growth expectations. Compare this with industry peers and historical P/E ratios for better context.
The data, ratios and commentary about Voltas Ltd (VOLTAS) on this page are published for educational and informational purposes only and are not investment, legal or tax advice. StockeZee is not a SEBI-registered investment adviser, research analyst or portfolio manager, and no content here should be construed as a recommendation to buy, hold or sell any security. Live and historical market data may be delayed, revised by the exchanges, or contain errors; figures sourced from third-party feeds and corporate disclosures may not always be current. Past performance is not indicative of future results, and equity investments carry the risk of capital loss. Before acting on anything you read here, please consult a SEBI-registered financial advisor and read all scheme-related documents carefully.
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