Hold Voltas; target of Rs 1120: ICICI Direct

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ICICI Direct's research report on Voltas

Voltas is a home appliances company specialising in air conditioning and air cooling technology in the B2B and B2C space. The company is a market leader with ~26% market share in RAC • Healthy b/s reflected by strong return ratios (RoE: ~11%, RoCE: ~15%).

Outlook

We maintain our HOLD rating on stock. We value Voltas at Rs 1120 using SOTP i.e. 9x P/E for EMPS, 9x P/E for EPS and 50x P/E for UCP on FY24E EPS for each.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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