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Voltas Limited
(VOLTAS)
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Rating:50Neutral
Price Target:
₹1,021.00
▼(-23.08% Downside)
Action:Reiterated
Date:08/17/26
Overall score is held back primarily by weak/volatile cash flow and margin compression despite strong revenue growth, plus an expensive valuation (high P/E and low yield). Technicals are broadly neutral with slightly negative momentum (negative MACD and price below the 200-DMA), offering limited near-term support.
Positive Factors
Revenue Growth
Strong multi-year revenue growth indicates continued expansion across Voltas's markets and provides a durable base for future operating leverage. Although profitability has weakened, sustained top-line momentum can support scale benefits, product investment, and broader channel reach over the next several quarters.
Negative Factors
Weak Cash Generation
Weak and inconsistent operating cash flow means reported earnings are not currently converting reliably into cash. Persistently negative free cash flow can constrain internal funding, increase reliance on working-capital management, and reduce flexibility to sustain investment or absorb operating setbacks.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Strong multi-year revenue growth indicates continued expansion across Voltas's markets and provides a durable base for future operating leverage. Although profitability has weakened, sustained top-line momentum can support scale benefits, product investment, and broader channel reach over the next several quarters.
Read all positive factors
Voltas Limited (VOLTAS) vs. iShares MSCI India ETF (INDA)
Market Cap
₹337.83B
Dividend Yield0.39%
Average Volume (3M)62.22K
Price to Earnings (P/E)75.2
Beta (1Y)0.98
Revenue Growth3.80%
EPS Growth-30.64%
CountryIN
Employees1,964
SectorGeneral
Sector StrengthN/A
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)13.57
Shares Outstanding330,884,740
10 Day Avg. Volume61,215
30 Day Avg. Volume62,215
Financial Highlights & Ratios
PEG Ratio-2.03
Price to Book (P/B)6.60
Price to Sales (P/S)2.96
P/FCF Ratio-565.29
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹1,495.00Price Target Upside12.63% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)21.95
Revenue Forecast (FY)₹166.41B
Voltas Limited Business Overview & Revenue Model
Company Description
Voltas Limited, founded in 1954 and headquartered in Mumbai, India, is a leading air conditioning and engineering firm with a significant presence across India, the Middle East, Singapore, and other global markets. Its operations are organized int...
How the Company Makes Money
Voltas makes money mainly by selling products and delivering project-based engineering services through distinct business segments. (1) Unitary Cooling Products (UCP): Revenue is generated from the sale of room air conditioners and associated cool...
Voltas Limited Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
78
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 149.46B | 142.44B | 154.13B | 124.81B | 94.99B | 79.34B |
| Gross Profit | 25.17B | 21.52B | 34.49B | 26.48B | 21.06B | 20.26B |
| EBITDA | 7.91B | 7.28B | 11.67B | 5.02B | 5.99B | 7.07B |
| Net Income | 4.49B | 3.76B | 8.41B | 2.52B | 1.35B | 5.04B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 145.10B | 131.52B | 120.36B | 102.79B | 97.46B |
| Cash, Cash Equivalents and Short-Term Investments | 12.95B | 10.58B | 19.19B | 19.72B | 13.68B | 10.48B |
| Total Debt | 0.00 | 9.92B | 8.92B | 7.44B | 6.51B | 3.61B |
| Total Liabilities | -63.99B | 81.11B | 66.12B | 61.82B | 47.85B | 42.09B |
| Stockholders Equity | 63.99B | 63.76B | 65.13B | 58.20B | 54.52B | 55.00B |
Cash Flow | ||||||
| Free Cash Flow | -11.32B | -745.00M | -4.32B | 4.68B | -205.50M | 5.36B |
| Operating Cash Flow | -10.69B | 582.40M | -2.24B | 7.62B | 1.59B | 5.84B |
| Investing Cash Flow | 3.04B | 2.05B | 1.58B | -5.22B | -816.00M | -3.65B |
| Financing Cash Flow | 5.93B | -1.73B | -997.10M | -1.16B | 550.50M | -1.07B |
Voltas Limited Technical Analysis
Negative
1327.40
Price Trends
1180.89
Negative
1241.45
Negative
1320.25
Negative
Market Momentum
-42.06
Positive
27.53
Positive
6.52
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:VOLTAS, the sentiment is Negative. The current price of 1327.4 is above the 20-day moving average (MA) of 1096.79, above the 50-day MA of 1180.89, and above the 200-day MA of 1320.25, indicating a bearish trend. The MACD of -42.06 indicates Positive momentum. The RSI at 27.53 is Positive, neither overbought nor oversold. The STOCH value of 6.52 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:VOLTAS.
Voltas Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | ₹1.31T | 39.72 | ― | 0.49% | -12.45% | 12.44% | |
75 Outperform | ₹1.46T | 48.62 | ― | 0.57% | 7.92% | 66.43% | |
72 Outperform | ₹126.59B | 47.38 | ― | 1.87% | 8.28% | 1.08% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹394.35B | 62.83 | ― | 0.60% | 4.68% | -11.57% | |
50 Neutral | ₹337.83B | 75.17 | ― | 0.39% | 3.80% | -30.64% | |
50 Neutral | ₹321.77B | 63.36 | ― | 0.54% | 5.90% | -6.28% |
* General Sector Average
IN:VOLTAS
Voltas Limited
1,021.00
-366.29
-26.40%
IN:ABB
ABB India Limited
6,869.10
1,832.73
36.39%
IN:BLUESTARCO
Blue Star Limited
1,564.90
-306.27
-16.37%
IN:INGERRAND
Ingersoll-Rand (India) Limited
4,010.20
227.17
6.01%
IN:SIEMENS
Siemens Limited
3,670.00
578.93
18.73%
IN:THERMAX
Thermax Limited.
3,309.50
218.99
7.09%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.