This analysis examines Voltas Ltd. (VOLTAS) through the lens of its financial statements, valuation metrics, and institutional ownership patterns.
Voltas Revenue Trend
The numbers weren't encouraging on the revenue front: Voltas Ltd. reported ₹14,244 Cr in FY2026, 7.6% below FY2025 levels.
A 9.3% CAGR over 10 years is middle-of-the-road. Voltas Ltd.'s top line moved from ₹5,857 Cr to ₹14,244 Cr in that period.
In terms of scale, Voltas Ltd.'s ₹14,244 Cr in annual revenue positions it as a major engineering company.
| Year | Revenue | YoY % |
|---|---|---|
| FY2026 | ₹14,244 Cr | -7.6% |
| FY2025 | ₹15,413 Cr | +23.5% |
| FY2024 | ₹12,481 Cr | +31.4% |
| FY2023 | ₹9,499 Cr | +19.7% |
| FY2022 | ₹7,934 Cr | — |
View Voltas Ltd.'s full 10-year revenue trend with CAGR analysis →
Voltas Profitability
Voltas Ltd.'s profitability took a step back in FY2026, with net income falling 55.7% to ₹370 Cr.
A drop in net margin from 5.4% to 2.6% in FY2026 suggests costs grew faster than revenue.
On an EPS basis, the company earned ₹11.36 (diluted) in FY2026 versus ₹25.43 in FY2025.
Is Voltas Undervalued
Voltas Ltd. shares are currently trading at ₹1,324.80.
Craytheon calculates intrinsic value using the P/E Ratio and EPS Growth models. Both appear in the Valuation Models cards below.
Valuation Models
Voltas Shareholding Pattern
Promoters haven't moved — their 30.3% holding has been unchanged for 4 quarters.
FII ownership stands at 16.9%, down from the 20.3% recorded a year ago.
As of June 2026, DIIs own 39.0% of the company — up from 35.8% a year earlier.
| Quarter | Promoter | FII | DII | Public |
|---|---|---|---|---|
| Jun 2026 | 30.3% | 16.9% | 39.0% | 13.7% |
| 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% |
Track quarterly shareholding changes for Voltas Ltd. →
Voltas Balance Sheet
Proportional view as of 3 Aug 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
Pulling it all together, here's what the numbers say about Voltas Ltd. (VOLTAS) heading into the next fiscal year.
Revenue of ₹14,244 Cr in FY2026, down 7.6% year-over-year.
Long-term revenue has been compounding at 9.3% annually over 10 years.
The company is profitable, with a net margin of 2.6% and net income of ₹370 Cr.
Unlock Full Analysis
Craytheon's full analysis of Voltas Ltd. goes deeper: three valuation models, growth metrics, and 10 years of financial data.