Name: Latest research reports of Voltas Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: Voltas Ltd.
Rating: 3
Author: ICICI Securities Limited

Summary	Date	Stock	Author	LTP	Target	Price at reco (Change since reco%)	Upside(%)	Type	Report	Discuss
	17 Sep 2025	Voltas	Consensus Share Price Target	1414.60	1367.70	-	-3.32	hold	pdf Detailed Estimates
	27 Apr 2023	Voltas	ICICI Securities Limited Target	1414.60	825.00	854.60 (65.53%)	Target met	Hold	pdf post cache	Broker Report Steep competitive pressures impacting market shares as well as margins ICICI Securities Limited The competitive intensity in air conditioners has increased considerably over past two years. It has resulted in loss of market share as well as margins for incumbents. Voltas reported consolidated EBITDA margin of 6% in FY23, lowest in past nine years and its market share has declined to 21.9% in Feb’23 (YTD) vs 25.2% in FY21. pdf Copy Link Share on Share on Share on Share on Alert
	16 Feb 2023	Voltas	Geojit BNP Paribas Target	1414.60	938.00	862.85 (63.95%)	Target met	Hold	pdf post cache	Broker Report VOLTAS LTD Geojit BNP Paribas pdf Copy Link Share on Share on Share on Share on Alert
	12 Feb 2023	Voltas	ICICI Securities Limited Target	1414.60	880.00	849.85 (66.45%)	Target met	Hold	pdf post cache	Broker Report Focus on protecting market shares at the cost of margins amidst steep competitive pressures ICICI Securities Limited With steep increase in competitive intensity, Voltas has decided to protect market shares even it costs it margins in short term. We consider this strategy as DCF accretive. We model Voltas to focus more on differentiated launches, distribution expansion and steady rollout of exclusive brand outlets. pdf Copy Link Share on Share on Share on Share on Alert
	11 Feb 2023	Voltas	BOB Capital Markets Ltd. Target	1414.60	910.00	849.85 (66.45%)	Target met	Hold	pdf post cache	Broker Report Voltas (HOLD): Subpar quarter as EMP losses deepen BOB Capital Markets Ltd. UCP revenue up 11% YoY but EBIT margin band seems to have softened to 7-9% from 12-14% earlier pdf Copy Link Share on Share on Share on Share on Alert
	10 Feb 2023	Voltas	Prabhudas Lilladhar Reco Target	1414.60	980.00	849.85 (66.45%)	Target met	Buy	pdf post cache	Broker Report VOLTAS LIMITED Prabhudas Lilladhar pdf Copy Link Share on Share on Share on Share on Alert
	12 Dec 2022	Voltas	BOB Capital Markets Ltd. Target	1414.60	950.00	841.15 (68.17%)		Hold	pdf post cache	Broker Report Voltas (HOLD): Competition weighing on margins BOB Capital Markets Ltd. Management does not anticipate return to double-digit RAC EBIT margins in medium term amid rising competition pdf Copy Link Share on Share on Share on Share on Alert
	03 Nov 2022	Voltas	ICICI Securities Limited Target	1414.60	950.00	909.25 (55.58%)		Hold	pdf post cache	Broker Report Weak performance in tough macro environment ICICI Securities Limited Voltas reported revenue growth of 4.7% YoY in Q2FY23 as there was deferment of purchases by consumers due to steep inflation. pdf Copy Link Share on Share on Share on Share on Alert
	03 Nov 2022	Voltas	ICICI Direct Target	1414.60	1005.00	890.00 (58.94%)		Hold	pdf post cache	Broker Report Voltas Ltd ICICI Direct pdf Copy Link Share on Share on Share on Share on Alert
	12 Aug 2022	Voltas	Geojit BNP Paribas Target	1414.60	1058.00	1007.40 (40.42%)		Hold	pdf post cache	Broker Report VOLTAS LTD Geojit BNP Paribas pdf Copy Link Share on Share on Share on Share on Alert
	05 Aug 2022	Voltas	Edelweiss Target	1414.60	1134.00	972.95 (45.39%)		Buy	pdf post cache	Broker Report Voltas Ltd. \| Q1FY23 Result Update Edelweiss Market share regain amid margin contraction pdf Copy Link Share on Share on Share on Share on Alert
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27.27% Fall from 52W High

Voltas Ltd. share price target

Voltas Ltd. has an average share price target of 1400.14. The consensus estimate represents a downside of -1.02% from the last price of 1414.60. View 16 reports from 7 analysts offering long-term price targets for Voltas Ltd..

Steep competitive pressures impacting market shares as well as margins

VOLTAS LTD

Focus on protecting market shares at the cost of margins amidst steep competitive pressures

Voltas (HOLD): Subpar quarter as EMP losses deepen

VOLTAS LIMITED

Voltas (HOLD): Competition weighing on margins

Weak performance in tough macro environment

Voltas Ltd

VOLTAS LTD

Voltas Ltd. | Q1FY23 Result Update

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