MarketFriction

Voltas Ltd

NSE VOLTAS · BSE 500575 · Household Appliances
₹1,053.20 -1.57%
NSE close2026-10-01
52 week range1,066.00 - 1,582.50
Market cap₹36,066 Cr.
P/E77.2
Nifty 200Nifty 500Nifty Midcap 100Midcap 150Nifty Consumer Durables No price band Delivery 39.2%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales2,2932,6264,2034,9212,6193,1054,7683,9392,3473,0714,8884,674
Expenses2,2562,6334,0514,5272,4892,9404,4673,7862,3132,9264,7034,445
Operating Profit37-815239413016530115334145185228
OPM %1.6%-0.3%3.6%8%5.0%5%6%3.9%1.4%4.7%3.8%4.9%
Other Income7158548010559808265224391
Interest111421101416231420312213
Depreciation121312131618141824212121
Profit before tax852417445220519134320354116184285
Tax %58%216%36%26%35%31%31%31%42%27%39%25%
Net Profit36-281113351331312361413284113213
EPS in Rs1.11-0.923.5210.104.053.997.284.241.042.573.516.46
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales5,7206,0336,4047,1247,6587,5567,9349,49912,48115,41314,24414,979
Expenses5,3765,4845,7426,5647,0406,9757,3629,04512,14514,42313,72814,387
Operating Profit344549663560618580572454336990516592
OPM %6%9%10%8%8%8%7%4.8%2.7%6%3.6%4.0%
Other Income261212178174179189188-77253324212221
Interest161612332126263056628786
Depreciation262424243234374048628487
Profit before tax5637208056777447096973074861,191557640
Tax %30%28%28%24%30%25%27%56%49%30%34%
Net Profit393520578514521529506136248834370442
EPS in Rs11.7015.6417.3015.3515.6315.8715.234.087.6225.4311.3613.58
Dividend Payout %22%22%23%26%26%32%36%104%72%28%35%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth10%14%14%4%
Compounded Profit Growth2%-6%17%-28%
Stock Price CAGR11%-2%8%-19%
Return on Equity10%8%8%6%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital333333333333333333333333
Reserves2,0692,7783,2743,8724,0774,2474,9605,4665,4195,7876,4806,343
Borrowings122271171142315219261361651744892992
Other Liabilities2,6622,7882,9913,2493,0913,6573,4023,8744,1715,4305,7027,127
Total Liabilities4,8865,8696,4697,2967,5158,1568,6559,73410,27411,99413,10814,496
Fixed Assets2692763002973433803883845255489731,080
CWIP41141626959983688222
Investments1,0941,9752,2682,7542,3862,3433,0463,6153,1093,5083,2432,762
Other Assets3,5193,6173,9014,2424,7715,4065,2125,6766,5427,5718,80910,632
Total Assets4,8865,8696,4697,2967,5158,1568,6559,73410,27411,99413,10814,496
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity311219428325-321462556584159762-22571
Cash from Investing Activity-104-315-73-199393-210-256-365-82-522158297
Cash from Financing Activity-23648-211-181-18-294-122-10755-116-100-262
Net Cash Flow-29-47143-5553-42179113133123-166105
Free Cash Flow516203405292-402379537537-18473-416-58
CFO/OP101%111%111%87%-9%108%108%140%72%289%9%55%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days948788899287879784705378
Inventory Days88657865769784103797983113
Days Payable156156172174165177161182149140119172
Cash Conversion Cycle26-4-6-19379181491719
Working Capital Days272125324149473831184344
ROCE %22%19%22%22%17%18%15%13%10%9%18%9%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters30.30%30.30%30.30%30.30%30.30%30.30%30.30%30.30%30.30%30.30%30.30%30.30%
FIIs17.84%17.18%14.71%15.08%18.09%21.31%21.95%21.16%20.26%18.41%18.44%16.94%
DIIs35.82%37.00%40.36%40.19%37.25%34.39%32.99%33.15%35.62%37.74%38.28%38.93%
Government0.21%0.21%0.21%0.21%0.21%0.21%0.21%0.21%0.21%0.14%0.11%0.11%
Public15.84%15.32%14.41%14.22%14.16%13.78%14.53%15.17%13.61%13.40%12.86%13.72%
No. of Shareholders2,80,9422,61,0092,41,7942,47,7752,35,0152,39,1302,85,6423,21,3482,84,3552,68,7042,60,0082,71,399

Fundamentals

Market Cap₹ 36,066 Cr.
Current Price₹ 1,090
Stock P/E77.2
Book Value₹ 193
ROCE9.04 %
ROE6.10 %
Dividend Yield0.37 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)4%
Compounded Profit Growth (TTM)-28%
Consolidated figures.
Valuation
Market capRs 34,849 Cr
Enterprise valueRs 35,060 Cr
P/E (TTM)77.58x
Price to book5.47x
Price to sales2.33x
EV / EBITDA43.14x
EV / EBIT48.30x
EV / sales2.34x
Price to cash flow491.04x
Earnings yield1.29%
Dividend yield0.38%
P/E, 3-year average104.77x
P/B, 3-year average6.76x
P/E, 5-year average119.32x
P/B, 5-year average6.55x
Profitability
Operating margin (excl. other income)3.62%
Operating margin (incl. other income)5.11%
EBITDA margin5.43%
Pre-tax margin4.27%
Net profit margin3.00%
Net margin, latest quarter4.57%
ROE5.83%
ROCE8.72%
ROA2.72%
ROE, 3-year average7.98%
ROCE, 3-year average11.74%
ROA, 3-year average3.90%
ROE, 5-year average7.20%
ROCE, 5-year average10.77%
ROA, 5-year average3.70%
ROIC (approx.)7.32%
Tax rate33.59%
Other income / net worth3.32%
Growth
Sales growth (latest year)-7.58%
Profit growth (latest year)-55.33%
Sales CAGR, 3 years14.46%
Sales CAGR, 5 years13.52%
Profit CAGR, 3 years40.68%
Profit CAGR, 5 years-6.47%
Sales growth QoQ-4.38%
Profit growth QoQ83.99%
Sales growth YoY (latest quarter)18.66%
Profit growth YoY (latest quarter)52.19%
Per share
EPS (TTM)Rs 13.58
EPS (latest year)Rs 11.36
EPS (latest quarter)Rs 6.46
EPS, 3-year averageRs 14.80
EPS, 5-year averageRs 12.74
Book value per shareRs 192.70
Sales per shareRs 452.71
Cash flow per shareRs 2.14
Free cash flow per shareRs -1.75
Dividend per share (latest year)Rs 4.00
Dividend per share, 3-year averageRs 5.50
Dividend per share, 5-year averageRs 5.25
Dividends
Dividend payout35.20%
Dividend payout, 3-year average44.97%
Dividend payout, 5-year average55.03%
Efficiency
Asset turnover0.98x
Fixed asset turnover13.18x
Inventory turnover3.40x
Inventory days107 days
Debtor days78 days
Debtors turnover4.69x
Creditor days172 days
Cash conversion cycle19 days
Working capital days44 days
Leverage
Total debtRs 992 Cr
Cash and bankRs 781 Cr
Net debtRs 212 Cr
Debt to equity0.16x
Net debt / EBITDA0.26x
Interest coverage8.44x
Current ratio (filing 2026-03-31)1.37x
Quick ratio (filing 2026-03-31)0.91x
Trade payables (filing 2026-03-31)Rs 5,228 Cr
Owners' fund to total sources43.99%
Debt to assets6.85%
Cash flow
Cash from Operating Activity (latest year)Rs 71 Cr
Cash from Investing Activity (latest year)Rs 297 Cr
Cash from Financing Activity (latest year)Rs -262 Cr
Net Cash Flow (latest year)Rs 105 Cr
Free cash flow (latest year)Rs -58 Cr
FCFE (approx.: FCF + change in debt)Rs 43 Cr
Cash from ops / profit, 5 years0.65x
Sales to cash flow200.71x
Statement figures
Net sales (TTM)Rs 14,979 Cr
Net sales (latest year)Rs 14,244 Cr
Sales (latest quarter)Rs 4,674 Cr
Operating profit excl. other income (latest year)Rs 516 Cr
Operating profit (latest quarter)Rs 228 Cr
Other income (TTM)Rs 221 Cr
EBITDA (TTM)Rs 813 Cr
PBDT (TTM)Rs 727 Cr
Profit before tax (TTM)Rs 640 Cr
Tax (latest year)Rs 187 Cr
Net profit (TTM)Rs 449 Cr
Net profit (latest year)Rs 376 Cr
Net profit (latest quarter)Rs 214 Cr
Depreciation (TTM)Rs 87 Cr
Depreciation (latest quarter)Rs 21 Cr
Interest (TTM)Rs 86 Cr
Cost of goods sold (latest year)Rs 11,672 Cr
Total expenditure (latest year)Rs 13,728 Cr
Total income (latest year)Rs 14,456 Cr
Share capitalRs 33 Cr
ReservesRs 6,343 Cr
Shareholders' fundsRs 6,376 Cr
Total assetsRs 14,496 Cr
Net blockRs 1,080 Cr
Capital work in progressRs 22 Cr
InvestmentsRs 2,762 Cr
ReceivablesRs 3,035 Cr
InventoryRs 3,433 Cr
Other liabilitiesRs 7,127 Cr
Shares outstanding (crore)33.09
Ownership
Promoter holding30.30% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 77.6 is at the 69th percentile of its own 9.4-year range (median 59.5, low 29.2, high 361.4).
P/B 5.47 is at the 40th percentile (median 6.05).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodVOLTASNifty 50Difference
1 week-5.4%-2.8% -2.6 pts
1 month-12.6%-6.8% -5.8 pts
3 months-17.7%-7.6% -10.1 pts
6 months-17.3%+0.4% -17.7 pts
1 year-23.3%-9.9% -13.3 pts
2 years-44.1%-13.6% -30.5 pts
3 years+22.0%+14.2% +7.8 pts
5 years-13.3%+27.9% -41.2 pts
159 mutual fund schemes hold about ₹6,265 Cr. Over three months 130 bought more and 18 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Nippon India Growth Mid Cap Fund1.58%825 +7%
Kotak Mid Cap Fund0.87%620 +8%
Nippon India Multi Cap Fund1.02%575 +10%
DSP Midcap Fund2.07%435 +9%
Nippon India Small Cap Fund0.36%298 +8%
Mirae Asset Midcap Fund1.24%258 +105%
SBI Large & Midcap Fund0.53%224 +10%
Axis Midcap Fund0.53%182 -3%
Aditya Birla SL Focused Fund2.24%178 +12%
Nippon India Value Fund1.46%132 +18%
HDFC Large & Mid Cap Fund0.42%127 +10%
Nippon India Vision Large & Mid Cap Fund1.53%121 +7%
Kotak Arbitrage Fund(M0.15%115 +1321%
Nippon India Power & Infra Fund1.40%113 +12%
SBI Dividend Yield Fund1.12%96 +13%
Axis Large & Mid Cap Fund0.49%85 +8%
Axis Large & Mid Cap Fund0.49%83 +8%
ICICI Pru Multi Cap Fund0.41%79 +6%
ICICI Pru Multi Cap Fund0.41%76 +6%
Tata Mid Cap Fund1.15%72 +7%
Canara Rob Aggressive Hybrid Fund(M0.62%71 +11%
ICICI Pru Mid Cap Fund0.84%70 +6%
ICICI Pru Balanced Advantage Fund(M0.09%69 -29%
ICICI Pru Mid Cap Fund0.84%67 +6%
ICICI Pru Large & Mid Cap Fund0.20%66 +100%

Red flags

F-score 3 of 8
explainWeak cash conversion Cash from operations was 41% of net profit over the last 3 years
explainReceivables outrunning sales Receivables grew 36% vs sales -8% in 2026
lookInventory outrunning sales Inventory grew 26% vs sales -8% in 2026
lookRegulator order or action Regulator order or action 2026-03-30: Voltas Limited has informed the Exchange about intimation under Regulation 30 of SEBI Listing Regulations
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹4,674 Cr +18.7% vs Jun 2025. Net profit ₹213 Cr +51.1%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-06-12Dividend - Rs 4 Per Share
2025-06-20Dividend - Rs 7 Per Share
2024-06-25Annual General Meeting/Dividend - Rs 5.50 Per Share
2023-06-09Annual General Meeting/Dividend - Rs 4.25 Per Share
2022-06-09Annual General Meeting/Dividend - Rs 5.50 Per Share
2021-08-11 Annual General Meeting/Dividend - Rs 5 Per Share
2020-08-05 Annual General Meeting/Dividend - Rs 4 Per Share
2019-07-17 Annual General Meeting/ Dividend - Rs 4 Per Share
2018-08-03 Annual General Meeting / Dividend- Rs 4 Per Share
2017-08-04 Annual General Meeting/Dividend - Rs 3.50 Per Share
2016-08-05 Annual General Meeting And Dividend Rs.2.60 Per Share
2015-07-10Annual General Meeting/Dividend - Rs 2.25/- Per Share
2014-08-08Annual General Meeting / Dividend - Rs 1.60/- Per Share & Special Diamond Jubilee Dividend - Re 0.25/- Per Share
2013-08-02Annual General Meeting / Dividend - Rs 1.60/- Per Share
2012-08-01Annual General Meeting And Dividend Rs.1.60 Per Share
2011-07-22Annual General Meeting And Dividend Rs.2/- Per Share
2010-07-16Annual General Meeting And Dividend Rs.2/- Per Share
2009-07-10Agm/Div-Rs.1.60 Per Share
2008-06-27Agm/Dividend-135%
2007-07-06Agm/Dividend-100%
2006-09-22Fv Split Rs.10/- To Re.1/0.1000
2006-07-07Agm/Dividend-60%
DateTypeWhat it says
2026-09-21LitigationPendency of Litigation(s)/dispute(s) or the outcome impacting the Company
2026-09-17Concall / analyst meetSchedule of meet
2026-09-01LitigationUpdate on a Pending Material Litigation as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 201...
2026-08-20Concall / analyst meetTranscript
2026-08-14Concall / analyst meetLink of Recording
2026-08-14AgreementsAgreements
2026-08-14Investor PresentationInvestor Presentation
2026-08-14Press ReleaseA press release dated August 14, 2026, titled "Voltas Delivers Strong Q1 FY27 Performance, Outperforming Competition and Widening Market Leadership wi...
2026-08-14Press ReleaseA press release dated August 14, 2026, titled "Voltas and Atomberg Join Hands to Build Room AC Compressors in India".
2026-08-14Board meeting outcomeProposed Joint Venture with Atomberg Innovation Private Limited
2026-08-14Board meeting outcomeVoltas Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-10Concall / analyst meetSchedule of meet
2026-07-28Change in ManagementIntimation under Regulation 30 of SEBI Listing Regulations- Change in Senior Management Personnel
2026-06-30Shareholder meetingShareholders meeting
2026-06-30Shareholder meetingVoting results.
2026-06-21UpdatesPress Release -Voltas Crosses 1 Million AC Sales Milestone In FY 26-27.
2026-06-15AppointmentAppointment of Senior Management Personnel
2026-06-10Regulatory actionAction(s) initiated or orders passed
2026-06-06General UpdatesLetters sent to the shareholders - Notice and Annual Report for the financial year 2025-26
2026-06-06Shareholder meetingNotice of Annual General Meeting to be held on Jun 30, 2026
2026-05-28Concall / analyst meetSchedule of meet
2026-05-26General UpdatesCommunication sent to Shareholders for deduction of Tax on Dividend.
2026-05-25Record DateRecord date for the purpose of Dividend is 12-Jun-2026.
2026-05-25General UpdatesThe 72nd Annual General Meeting of the Company is scheduled to be held on Tuesday, 30th June, 2026 at 3.00PM (IST) through Video Conferencing / Other ...
2026-05-22General UpdatesGeneral Updates
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.75
Max pain (expiry 2026-10-27)1,120
Largest call open interest at1,200
Largest put open interest at1,100
Implied volatility, at the money31.1%
Underlying at snapshot1,053.20
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-295,250
2026-09-28235
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-06-16NCLTVoltas Limited Vs Kelvolt (India) Pvt Ltd
2021-01-05NCLTVoltas Limited Vs A2Z Infraservices Limited
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Scrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of Voltas Ltd?

Voltas Ltd (VOLTAS) has a market capitalisation of Rs 36,066 Cr. at the 2026-10-01 close.

What is the P/E ratio of Voltas Ltd?

Voltas Ltd trades at a P/E of 77.2 on trailing twelve-month profit, at the 2026-10-01 close.

What were Voltas Ltd's latest quarterly results?

In the Jun 2026 quarter, Voltas Ltd sales was Rs 4,674 Cr (+18.7% vs Jun 2025) and net profit was Rs 213 Cr.

What is the 52-week high and low of Voltas Ltd?

The 52-week high is Rs 1,582.50 and the 52-week low is Rs 1,066.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03