Voltas Limited Earnings Summary — Q1 FY2027
Voltas Strengthens RAC Leadership with Robust Q1 Earnings and Million-Unit Milestone
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue declined 4.4% sequentially in Q1 FY2027.
- Revenue of ₹4,674 Cr is 18.7% higher year-on-year.
- Revenue has compounded at 4.8% annualised over the last 10 quarters.
- Net profit of ₹214 Cr is 52.2% above the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Net profit has compounded at 31.0% annualised across the period.
- Operating margin stands at 4.9% in Q1 FY2027.
- Operating margin expanded by 100 bps year-on-year.
- Over the last two years operating margin has contracted by 314 bps.
- PBT margin is 6.1%.
- Expense growth of 17.4% remained below revenue growth of 18.7%.
- Operating profit of ₹228 Cr is 49.5% higher year-on-year.
- Operating leverage continues to improve.
- 3 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 63/100 (Healthy) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Accelerating | 4,674 | 4,888 | 3,071 | 2,347 | 3,939 | 4,768 | 3,105 | 2,619 | 4,921 | 4,203 |
| Expenses | Accelerating | 4,445 | 4,703 | 2,926 | 2,313 | 3,786 | 4,467 | 2,940 | 2,489 | 4,527 | 4,051 |
| Operating Profit | Volatile | 228 | 185 | 145 | 34 | 153 | 301 | 165 | 130 | 394 | 152 |
| Operating Margin | Volatile | 4.9% | 3.8% | 4.7% | 1.4% | 3.9% | 6.3% | 5.3% | 5.0% | 8.0% | 3.6% |
| Other Income | Volatile | 91 | 43 | 22 | 65 | 82 | 80 | 59 | 105 | 80 | 54 |
| Interest | Improving | 13 | 22 | 31 | 20 | 14 | 23 | 16 | 14 | 10 | 21 |
| Depreciation | Improving | 21 | 21 | 21 | 24 | 18 | 14 | 18 | 16 | 13 | 12 |
| Profit Before Tax | Volatile | 285 | 185 | 116 | 54 | 203 | 343 | 191 | 205 | 452 | 174 |
| Tax | Volatile | 73 | 71 | 31 | 23 | 62 | 107 | 60 | 73 | 117 | 63 |
| Net Profit | Volatile | 214 | 116 | 85 | 34 | 140 | 241 | 132 | 134 | 334 | 116 |
| Net Margin | Volatile | 4.6% | 2.4% | 2.8% | 1.5% | 3.6% | 5.1% | 4.3% | 5.1% | 6.8% | 2.8% |
Key Takeaways
- Voltas achieved a landmark milestone by selling 1 million Room Air Conditioners in just 81 days during Q1 FY27.
- Strengthened market leadership in the RAC segment with a 17.3% secondary market share, widening the gap to 4% over the nearest competitor.
- The Unitary Cooling Products (UCP) segment delivered robust 33% revenue growth, with RAC volumes specifically growing by 45% YoY.
- Voltbek achieved its highest-ever quarterly sales in both value and volume, reaching a 9.4% market share in washing machines.
- Electro-Mechanical Projects order book stands at ₹6,345 crores, providing healthy revenue visibility despite geopolitical delays in international segments.
- Announced a strategic Joint Venture with Atomberg Innovation Private Limited to develop and manufacture indigenous AC compressors.
- Successfully defended a legal matter in Qatar involving ₹432.66 crores in bank guarantees, which have now been cancelled following a court order.
Management Guidance
Management is focusing on indigenous technology through its new JV with Atomberg to reduce global supply chain dependence. They aim to consolidate market leadership in cooling while scaling home appliances (Voltbek) into a comprehensive portfolio. Growth is expected to be supported by high utilization at Chennai and Pantnagar facilities and continued expansion into Tier II/III markets.
Sentiment Shift
Improving
Significant margin recovery in the core cooling segment and record-breaking volume sales indicate a strong turnaround from the margin compression seen in previous fiscal years.
Outlook
The company maintains a strong outlook for the cooling segment driven by its 'Vertis' AI-powered series and 'True 1.5 TR' capacity campaign. Strategic localization of compressor manufacturing and healthy project order books provide a balanced growth trajectory for the remainder of FY27.
From the Annual Report (Key Quotes)
“Q1 FY27 has been a defining quarter for Voltas... reinforced its position as the undisputed market leader.”
“Achieving the landmark milestone of selling 1 million Room Air Conditioners in just 81 days is a clear validation of the trust consumers place in the Voltas brand.”
“Voltas is better positioned than ever to capitalise on emerging opportunities with a healthy balance sheet and clear focus on profitability.”
Official Quarterly Documents
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This summary is AI-generated from Voltas Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.