Voltas Ltd. (VOLTAS) is the subject of this analysis, which looks at its financial statements, valuation metrics, and institutional ownership patterns.
Voltas Revenue Trend
Revenue was a soft spot this year: Voltas Ltd. posted ₹14,483 Cr in FY2026, 8.0% below FY2025 levels.
Over 10 years, the 9.5% CAGR reads as middle-of-the-road. In that stretch, Voltas Ltd.'s top line grew from ₹5,857 Cr to ₹14,483 Cr.
At ₹14,483 Cr in annual revenue, Voltas Ltd. qualifies as a major engineering company in terms of scale.
| Year | Revenue | YoY % |
|---|---|---|
| FY2026 | ₹14,483 Cr | -8.0% |
| FY2025 | ₹15,737 Cr | +23.6% |
| FY2024 | ₹12,734 Cr | +31.7% |
| FY2023 | ₹9,667 Cr | +19.0% |
| FY2022 | ₹8,124 Cr | — |
View Voltas Ltd.'s full 10-year revenue trend with CAGR analysis →
Voltas Profitability
Profitability took a step back in FY2026, as net income fell 55.7% to ₹370 Cr.
Net margin slipped from 5.3% to 2.6% in FY2026, a sign that costs outran revenue growth.
Diluted EPS came in at ₹11.36 for FY2026, down from ₹25.43 in FY2025.
Is Voltas Undervalued
Using the P/E Ratio approach, Voltas Ltd.'s intrinsic value works out to ₹887, a 34.3% downside from the current market price.
Shares of Voltas Ltd. currently trade at ₹1,349.50.
Craytheon also computes intrinsic value with an EPS Growth model. That full breakdown, assumptions included, is available in the detailed analysis.
| Model | Est. Fair Value | vs. Current Price |
|---|---|---|
| P/E Ratio | ₹887 | 34.3% downside to fair value |
| EPS Growth | Upgrade | Upgrade |
See all valuation models for Voltas Ltd. with detailed assumptions →
Voltas Shareholding Pattern
Promoter holding hasn't budged, remaining at 30.3% for 4 quarters.
FII ownership sits at 18.4%, down from 22.0% a year earlier.
As of March 2026, DIIs hold 38.4% of the company, up from 33.2% a year earlier.
| Quarter | Promoter | FII | DII | Public |
|---|---|---|---|---|
| Mar 2026 | 30.3% | 18.4% | 38.4% | 12.9% |
| Dec 2025 | 30.3% | 18.4% | 37.9% | 13.4% |
| Sep 2025 | 30.3% | 20.3% | 35.8% | 13.6% |
| Mar 2025 | 30.3% | 22.0% | 33.2% | 14.5% |
Track quarterly shareholding changes for Voltas Ltd. →
Voltas Balance Sheet
Proportional view as of 13 Jul 2026. Hover blocks for details.
Assets
Liabilities & Equity
FY2026 total assets: ₹145.10B (up 10.3% YoY from ₹131.52B).
Top categories: Other Assets (24.1%), Inventories (23.7%), Receivables (20.9%).
Of the ₹145.10B in liabilities and equity, 44.1% is shareholder equity, 6.8% is interest-bearing debt, and 49.1% is operating liabilities. Over the year, debt is up 11.3% and equity is down 2.2%.
Balance sheet composition — FY 2026
| Category | Value |
|---|---|
| Cash & ST Investments | 10.32B |
| Receivables | 30.35B |
| Inventories | 34.33B |
| Property, Plant & Equipment | 9.57B |
| Investments | 24.85B |
| Intangibles & Goodwill | 760.70M |
| Other Assets | 34.92B |
| Category | Value |
|---|---|
| Equity | 63.99B |
| Short-term Debt | 6.02B |
| Long-term Debt | 3.91B |
| Trade Payables | 52.28B |
| Other Liabilities | 18.90B |
Voltas — The Bottom Line
Taken together, the numbers point to this picture for Voltas Ltd. (VOLTAS) heading into the next fiscal year.
₹14,483 Cr in FY2026 revenue, down 8.0% year-over-year.
Over the past 10 years, revenue has compounded at 9.5% annually.
Profitability remains intact, with a net margin of 2.6% and net income of ₹370 Cr.
The P/E Ratio model implies 34.3% downside to fair value from the current price. The remaining two models are worth cross-checking before drawing a conclusion — sign up to see the full analysis.
Unlock Full Analysis
Craytheon's full analysis of Voltas Ltd. goes deeper: three valuation models, growth metrics, and 10 years of financial data.