Voltas Q4 Review - Robust Room Air Conditioner Performance Continues: Dolat Capital
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Dolat Capital Report
Voltas Ltd.'s Q4 saw good performance across all metrics, ahead of estimates, with room air conditioner volumes growing 18%, strong double digit Ebit margins at 15.6% and leadership position with a ~26% market share.
The project business also had a good quarter in terms of execution and margins.
It continues to focus on its distribution and reach. It has sufficient margin cushion as well as cash to protect against market share loss.
It is also splitting its business into business-to-consumer and business-to-business, which will give it a sharper focus on the durables business.
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