Voltas Limited (IN:VOLTAS)
:VOLTAS
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Voltas Limited
(VOLTAS)
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Rating:49Neutral
Price Target:
₹1,225.00
▼(-17.57% Downside)
Action:Reiterated
Date:05/16/26
The score is held back primarily by weak cash conversion and profitability pressure despite solid revenue growth and a strong balance sheet. Technicals are bearish with the stock trading below key moving averages, and valuation is demanding (high P/E with low yield), limiting near-term upside unless margins and cash flows improve.
Positive Factors
Conservative balance sheet
Low leverage and rising equity provide durable financial flexibility, reducing refinancing risk and supporting large project execution in EMPS. A conservatively levered balance sheet allows Voltas to bid on capital‑intensive contracts and absorb cyclical pressure without immediate capital raises.
Negative Factors
Weak and volatile cash generation
Volatile operating and free cash flows point to working‑capital swings and project billing/collection mismatches, undermining sustainable internal funding. Persistent weak cash conversion limits reinvestment, raises funding needs for growth, and increases execution risk on large projects.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low leverage and rising equity provide durable financial flexibility, reducing refinancing risk and supporting large project execution in EMPS. A conservatively levered balance sheet allows Voltas to bid on capital‑intensive contracts and absorb cyclical pressure without immediate capital raises.
Read all positive factors
Voltas Limited (VOLTAS) vs. iShares MSCI India ETF (INDA)
Market Cap
₹414.40B
Dividend Yield0.5%
Average Volume (3M)51.73K
Price to Earnings (P/E)112.0
Beta (1Y)1.06
Revenue Growth-7.58%
EPS Growth-55.33%
CountryIN
Employees1,938
SectorConsumer Defensive
Sector Strength42
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)16.55
Shares Outstanding330,884,740
10 Day Avg. Volume117,984
30 Day Avg. Volume51,734
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
₹1,530.00Price Target Upside2.95% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)24.83
Revenue Forecast (FY)₹170.79B
Voltas Limited Business Overview & Revenue Model
Company Description
Voltas Limited operates as an air conditioning and engineering company primarily in India, the Middle East, Singapore, and internationally. It operates through three segments: Unitary Cooling Products for Comfort and Commercial Use; Electro-Mechan...
How the Company Makes Money
Voltas makes money primarily by selling products and executing projects/services across its operating segments. (1) Unitary Cooling Products (UCP): Revenue is generated from the sale of room air conditioners and other cooling products through dist...
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 | 141.26B | 142.44B | 154.13B | 124.81B | 94.99B | 79.34B |
| Gross Profit | 31.52B | 21.52B | 34.49B | 26.48B | 21.06B | 20.26B |
| EBITDA | 8.42B | 6.46B | 11.58B | 4.87B | 5.87B | 6.97B |
| Net Income | 5.48B | 3.76B | 8.41B | 2.52B | 1.35B | 5.04B |
Balance Sheet | ||||||
| Total Assets | 128.75B | 145.10B | 131.52B | 120.36B | 102.79B | 97.46B |
| Cash, Cash Equivalents and Short-Term Investments | 13.98B | 10.58B | 19.19B | 19.72B | 13.68B | 10.48B |
| Total Debt | 17.55B | 9.92B | 8.92B | 7.44B | 6.51B | 3.61B |
| Total Liabilities | 64.81B | 81.11B | 66.12B | 61.82B | 47.85B | 42.09B |
| Stockholders Equity | 63.69B | 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
1486.15
Price Trends
1370.48
Negative
1403.44
Negative
1386.20
Negative
Market Momentum
-35.18
Positive
44.35
Neutral
28.22
Neutral
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 1486.15 is above the 20-day moving average (MA) of 1379.75, above the 50-day MA of 1370.48, and above the 200-day MA of 1386.20, indicating a bearish trend. The MACD of -35.18 indicates Positive momentum. The RSI at 44.35 is Neutral, neither overbought nor oversold. The STOCH value of 28.22 is Neutral, 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 (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹188.60B | -59.47 | ― | 1.16% | 2.95% | -143.51% | |
64 Neutral | ₹138.84B | 44.82 | ― | 0.45% | 6.96% | -2.06% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
60 Neutral | ₹311.17B | 32.72 | ― | 0.52% | 4.11% | 257.30% | |
56 Neutral | ₹108.42B | 107.65 | ― | 0.53% | 2.74% | 4.84% | |
52 Neutral | ₹335.84B | 36.44 | ― | 0.51% | 3.63% | -10.72% | |
49 Neutral | ₹414.40B | 112.04 | ― | 0.50% | -7.58% | -55.33% |
* Consumer Defensive Sector Average
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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.