BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Voltas Ltd. reported a weak set of earnings, with revenue/Ebitda miss of 9%/27%.
The strong show in the electromechanical projects segment failed to offset the weakness in the unitary cooling products segment.
Voltas' ordering intake/outlook for the projects business remained subdued with clients delaying their capex spends.
Air conditioner sales volumes may fall short of FY20 levels, with no sign of pent-up demand this time around during a lean summer.
However, this would still mean some growth in YoY terms.
On a positive note, unlike last time, channel inventory is not high, although brands have higher inventory this time around.
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