Voltas misses Q4 estimates with net profit down 21% on shrinking market share

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26 Aug, 2025 12:21

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Consumer durables major Voltas has investors disappointed with its Q4 numbers missing estimates on all fronts. The company's profit has declined 21.2 percent year-on-year at Rs 143.92 crore for the quarter ended March FY23.

The operating performance was weak, revenue grew 10.88 percent year-on-year to Rs 2,957 crore, while EBITDA fell 16.4 percent to Rs 218.2 crore. Margins declined 240 basis points to 7.4 percent for the quarter.

At 12pm, the stock was quoting at Rs 833 on the NSE, lower by 2.5 percent from the previous close. The stock has declined over 34 percent in the past one year.

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Goldman Sachs has a 'sell' rating on the stock, with a target of Rs 840 per share. "The Q4 results missed the EBITDA and net income estimates by 9 percent and 28 percent, respectively," it said.

ICICI Securities has a 'hold' rating on the stock with Rs 855 target.

Both the brokerages have flagged off that Voltas' air conditioners are losing market share to multinational players. Its market share has declined to 21.9 percent against 25.2 percent in FY21.

The company's management is hoping that the seasonally strongest quarter (April-May) will inspire future margin improvement.

That said, ICICI Securities has cut its FY24-25 earnings estimate for Voltas. "We have revised target to Rs 825 from Rs 880 to factor in slowdown in consumer offtake and losses of electro mechanical projects and services," it noted.

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