This analysis examines Voltas Ltd. (VOLTAS) through the lens of its financial statements, valuation metrics, and institutional ownership patterns.
Voltas Revenue Trend
Year-over-year, Voltas Ltd. grew revenue by 23.6% — from ₹12,734 Cr in FY2024 to ₹15,737 Cr in FY2025.
On a 10-year view, revenue grew at 11.7% annually from ₹5,183 Cr to ₹15,737 Cr. Healthy growth, and clearly ahead of the broader market.
In terms of scale, Voltas Ltd.'s ₹15,737 Cr in annual revenue positions it as a major engineering company.
It's been 4 years of continuous revenue growth for Voltas Ltd. — a pattern worth noting.
| Year | Revenue | YoY % |
|---|---|---|
| FY2025 | ₹15,737 Cr | +23.6% |
| FY2024 | ₹12,734 Cr | +31.7% |
| FY2023 | ₹9,667 Cr | +19.0% |
| FY2022 | ₹8,124 Cr | +7.5% |
| FY2021 | ₹7,556 Cr | — |
View Voltas Ltd.'s full 10-year revenue trend with CAGR analysis →
Voltas Profitability
A 236.3% improvement in net profit took Voltas Ltd.'s bottom line to ₹834 Cr in FY2025.
On the margin front, there's improvement — net margin went from 1.9% in FY2024 to 5.3% in FY2025.
Per-share earnings moved to ₹25.43 in FY2025 from ₹7.62 in FY2024.
Is Voltas Undervalued
Per the P/E Ratio model, Voltas Ltd. has an estimated intrinsic value of ₹1,903 (54.0% upside).
Voltas Ltd. shares are currently trading at ₹1,235.00.
Craytheon also calculates intrinsic value using the EPS Growth model. The full breakdown with assumptions is available in the detailed analysis.
| Model | Est. Fair Value | vs. Current Price |
|---|---|---|
| P/E Ratio | ₹1,903 | 54.0% upside to fair value |
| EPS Growth | Upgrade | Upgrade |
See all valuation models for Voltas Ltd. with detailed assumptions →
Voltas Shareholding Pattern
At 30.3%, the promoter stake has been flat for the past 4 quarters.
As of March 2026, FIIs own 18.4% of the company — down from 22.0% a year earlier.
Domestic investors held 38.4% of the company as of March 2026, up year-over-year from 33.2%.
| 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 3 Jun 2026. Hover blocks for details.
Assets
Liabilities & Equity
FY2025 total assets: ₹131.52B (up 9.3% YoY from ₹120.36B).
Top categories: Other Assets (23.2%), Investments (21.6%), Inventories (20.6%).
Of the ₹131.52B in liabilities and equity, 49.7% is shareholder equity, 6.8% is interest-bearing debt, and 43.5% is operating liabilities. Over the year, debt is up 19.9% and equity is up 11.7%.
Balance sheet composition — FY 2025
| Category | Value |
|---|---|
| Cash & ST Investments | 10.48B |
| Receivables | 25.11B |
| Inventories | 27.15B |
| Property, Plant & Equipment | 9.02B |
| Investments | 28.45B |
| Intangibles & Goodwill | 757.10M |
| Other Assets | 30.55B |
| Category | Value |
|---|---|
| Equity | 65.40B |
| Short-term Debt | 4.92B |
| Long-term Debt | 4.00B |
| Trade Payables | 38.93B |
| Other Liabilities | 18.27B |
Voltas Key Takeaways
What should investors take away from Voltas Ltd.'s (VOLTAS) latest numbers? Here's the summary.
Revenue of ₹15,737 Cr in FY2025, up 23.6% year-over-year.
Long-term revenue has been compounding at 11.7% annually over 10 years.
The company is profitable, with a net margin of 5.3% and net income of ₹834 Cr.
The P/E Ratio model implies 54.0% upside 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.