Voltas Ltd.

NSE: VOLTAS | BSE: 500575 | ISIN: INE226A01021 | Industry: Consumer Electronics
| Mid-range Performer
1372.7000 -3.50 (-0.25%)
NSE Sep 23, 2025 15:31 PM
Volume: 799.8K
 

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Voltas Ltd.
10 Feb 2020
1372.70
-0.25%
Motilal Oswal
Voltas (VOLT) 3QFY20 earnings disappointed, entirely led by weak execution in the EMP segment and provisions impacting margins. We lower our FY20E EPS by 9% on account of lower contribution from the EMP segment, but maintain our FY21/FY22E earnings as strong order book provides comfort. We maintain our Buy rating with unchanged TP of 3QFY20 revenues were muted at INR14.9b and missed our expectation by 8%, attributable entirely to the EMP segment (12% miss). We lower our FY20E EPS by 9% on account of lower contribution from EMP segment, but maintain our FY21/FY22E EPS as strong order book provides comfort. We estimate UCP revenue CAGR at 13.5% over FY20-22, but near- term disruption due to the Coronavirus issue needs to be carefully with unchanged TP of INR785, based on Sep21E Inverter AC accelerated now forms 43% of total AC sales (35-36% last year).
Voltas Ltd. is trading above its 150 day SMA of 1329.4
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