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Voltas Q1FY27 revenue rises but falls short of estimates
Operating revenue grew 19% to ₹4,765 crore in the June quarter, but the EBITDA margin stayed below the company’s 7% to 8% long-term target.
Voltas reported June-quarter (Q1FY27) operating revenue of ₹4,765 crore, up 19% from the prior year, but still 9% below Nirmal Bang Institutional Equities’ estimates, according to LiveMint Markets. The stock fell about 4% on Monday after the results.
Profitability improved as EBITDA margin rose 115 basis points to 5.7%, but it remained short of Voltas’ long-term aspiration of 7% to 8%, LiveMint Markets reported. The company said it is seeing signs of recovery in its air-conditioner and home appliances business.
Its unitary cooling products segment, the largest business, delivered revenue growth of 32% year-on-year to ₹3,794 crore, supported by a 45% increase in AC volumes. Voltas also said it regained market share, improving to 17.3% from 15.9% in FY26, widening its lead over the nearest competitor to 4 percentage points.
In other segments, Voltas’ VoltBek joint venture continued to gain market share in washing machines and refrigerators, while losses persisted with Voltas reporting ₹37 crore as its share of losses. For its electro-mechanical projects and services business, revenue declined 27% year-on-year to ₹672 crore due to weak project execution amid geopolitical disruptions in West Asia and delayed international orders, though it noted offsetting strength from domestic demand tied to data centres, manufacturing, and infrastructure. LiveMint Markets added that Voltas has a ₹6,345 crore order book for revenue visibility and expects meaningful improvement in the second half of FY27 as execution picks up.