Voltas Ltd: Intrinsic Value & Share Price Analysis

Q: What is the intrinsic value of Voltas Ltd and is it undervalued?

As of 19 June 2026, Voltas Ltd's intrinsic value is 411.01, which is 67.81% lower than the current market price of 1,277.00, suggesting the stock is overvalued. Calculated using the PE ratio method factoring in ROE (6.10 %), book value (193), dividend yield (0.31 %), and 5-year EPS CAGR.

Q: What is the current share price and 52-week range of Voltas Ltd?

Voltas Ltd is trading at 1,277.00 as of 19 June 2026, with a FY2026-2027 high of 1,582 and low of 1,187. The stock is currently near its 52-week low. Market cap stands at 42,264 Cr..

Q: Is Voltas Ltd financially healthy?

Key indicators: ROCE of 9.04 % is on the lower side. Dividend yield is 0.31 %.

Q: Is Voltas Ltd profitable and how is the profit trend?

Voltas Ltd reported a net profit of 834 Cr in Mar 2025 on revenue of 15,413 Cr. Compared to 506 Cr in Mar 2022, the net profit shows an improving trend.

Fair Value

₹1,020.34Overvalued by 20.10%vs CMP ₹1,277.00

P/E (108.0) × ROE (6.1%) × BV (₹193.00) × DY (0.31%)

₹411.01Overvalued by 67.81%vs CMP ₹1,277.00

MoS: -210.7% (Negative)Confidence: 68/100 (Moderate)Models: All 9: Overvalued

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹1,019.00	22%	Over (-20.2%)
Graham Number	Earnings	₹256.32	16%	Over (-79.9%)
Earnings Power	Earnings	₹52.36	11%	Over (-95.9%)
DCF	Cash Flow	₹132.81	13%	Over (-89.6%)
Net Asset Value	Assets	₹192.65	7%	Over (-84.9%)
EV/EBITDA	Enterprise	₹351.46	9%	Over (-72.5%)
Earnings Yield	Earnings	₹151.30	7%	Over (-88.2%)
ROCE Capital	Returns	₹286.63	9%	Over (-77.6%)
Revenue Multiple	Revenue	₹698.55	5%	Over (-45.3%)
Consensus (9 models)		₹411.01	100%	Overvalued

Key Drivers: P/E of 108 makes PE-ROE unreliable — asset/earnings models are better benchmarks. | Wide model spread (₹52–₹1,019) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -0.1%

*Investments are subject to market risks

Analyst Summary

Voltas Ltd operates in the Consumer Electronics segment, current market price is ₹1,277.00, market cap is 42,264 Cr.. At a glance, stock P/E is 108, ROE is 6.10 %, ROCE is 9.04 %, book value is 193, dividend yield is 0.31 %. The latest intrinsic value estimate is ₹411.01, around 67.8% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹15,413 Cr versus the prior period change of 23.5%, while latest net profit is about ₹834 Cr with a prior-period change of 236.3%. The 52-week range shown on this page is 1,582/1,187, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisVoltas Ltd. is a Public Limited Listed company incorporated on 06/09/1954 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L29308MH19…

This summary is generated from the stock page data available for Voltas Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

Voltas Ltd scores 54/100 (Average)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health66/100 · Strong

ROCE 9.0% AverageROE 6.1% AverageD/E 0.05 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent

Smart Money45/100 · Moderate

FII holding down -3.54% (6mo) SellingDII holding up 4.75% MF buyingPromoter holding at 30.3% Stable

Earnings Quality50/100 · Moderate

OPM stable around 5% Steady

Quarterly Momentum40/100 · Moderate

Revenue (4Q): -5% YoY FlatProfit (4Q): -31% YoY Declining

Industry Rank60/100 · Moderate

P/E 108.0 vs industry 100.5 In-lineROCE 9.0% vs industry 13.3% Average3Y sales CAGR: 25% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily.

Share Price and Basic Stock Data

Last Updated: June 12, 2026, 7:48 am

Market Cap	42,264 Cr.
Current Price	1,277
Intrinsic Value	₹411.01
High / Low	1,582/1,187
Stock P/E	108
Book Value	193
Dividend Yield	0.31 %
ROCE	9.04 %
ROE	6.10 %
Face Value	1.00
PEG Ratio	-820.26

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Voltas Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Voltas Ltd	42,264 Cr.	1,277	1,582/1,187	108	193	0.31 %	9.04 %	6.10 %	1.00
Dixon Technologies (India) Ltd	69,461 Cr.	11,371	18,472/9,600	48.3	769	0.07 %	42.0 %	37.4 %	2.00
Havells India Ltd	70,817 Cr.	1,129	1,623/1,124	41.9	151	0.89 %	24.9 %	19.0 %	1.00
Avalon Technologies Ltd	10,474 Cr.	1,568	1,688/777	92.7	108	0.00 %	19.5 %	16.9 %	2.00
Whirlpool of India Ltd	9,761 Cr.	769	1,474/756	31.1	328	0.65 %	11.1 %	7.75 %	10.0
Industry Average	13,760.44 Cr	1,019.72		100.47	130.81	0.23%	13.31%	10.53%	6.44

All Competitor Stocks of Voltas Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	2,006	2,957	3,360	2,293	2,626	4,203	4,921	2,619	3,105	4,768	3,939	2,347	3,071
Expenses	1,962	2,767	3,206	2,256	2,633	4,051	4,527	2,489	2,940	4,467	3,786	2,313	2,926
Operating Profit	44	190	154	37	-8	152	394	130	165	301	153	34	145
OPM %	2%	6%	5%	2%	-0%	4%	8%	5%	5%	6%	4%	1%	5%
Other Income	-107	47	70	71	58	54	80	105	59	80	82	65	22
Interest	6	12	10	11	14	21	10	14	16	23	14	20	31
Depreciation	11	10	11	12	13	12	13	16	18	14	18	24	21
Profit before tax	-80	214	203	85	24	174	452	205	191	343	203	54	116
Tax %	37%	33%	36%	58%	216%	36%	26%	35%	31%	31%	31%	42%	27%
Net Profit	-110	143	129	36	-28	111	335	133	131	236	141	32	84
EPS in Rs	-3.34	4.35	3.91	1.11	-0.92	3.52	10.10	4.05	3.99	7.28	4.24	1.04	2.57

Last Updated: February 3, 2026, 2:46 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 10:46 am

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	5,266	5,183	5,720	6,033	6,404	7,124	7,658	7,556	7,934	9,499	12,481	15,413	14,124
Expenses	5,000	4,773	5,376	5,484	5,742	6,564	7,040	6,975	7,362	9,045	12,145	14,423	13,492
Operating Profit	266	411	344	549	663	560	618	580	572	454	336	990	632
OPM %	5%	8%	6%	9%	10%	8%	8%	8%	7%	5%	3%	6%	4%
Other Income	121	154	261	212	178	174	179	189	188	-77	253	324	249
Interest	23	23	16	16	12	33	21	26	26	30	56	62	88
Depreciation	25	28	26	24	24	24	32	34	37	40	48	62	78
Profit before tax	340	514	563	720	805	677	744	709	697	307	486	1,191	716
Tax %	28%	25%	30%	28%	28%	24%	30%	25%	27%	56%	49%	30%
Net Profit	246	388	393	520	578	514	521	529	506	136	248	834	492
EPS in Rs	7.42	11.62	11.70	15.64	17.30	15.35	15.63	15.87	15.23	4.08	7.62	25.43	15.13
Dividend Payout %	25%	19%	22%	22%	23%	26%	26%	32%	36%	104%	72%	28%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	57.72%	1.29%	32.32%	11.15%	-11.07%	1.36%	1.54%	-4.35%	-73.12%	82.35%	236.29%
Change in YoY Net Profit Growth (%)	0.00%	-56.43%	31.03%	-21.16%	-22.23%	12.43%	0.17%	-5.88%	-68.77%	155.48%	153.94%

Voltas Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	12%
5 Years:	15%
3 Years:	25%
TTM:	3%

Compounded Profit Growth
10 Years:	9%
5 Years:	9%
3 Years:	18%
TTM:	42%

Stock Price CAGR
10 Years:	18%
5 Years:	17%
3 Years:	12%
1 Year:	-21%

Return on Equity
10 Years:	11%
5 Years:	9%
3 Years:	8%
Last Year:	13%

Last Updated: September 5, 2025, 1:51 pm

Balance Sheet

Last Updated: May 19, 2026, 5:30 am

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	33	33	33	33	33	33	33	33	33	33	33	33
Reserves	2,069	2,778	3,274	3,872	4,077	4,247	4,960	5,466	5,419	5,787	6,480	6,343
Borrowings	122	271	171	142	315	219	261	361	651	744	892	992
Other Liabilities	2,662	2,788	2,991	3,249	3,091	3,657	3,402	3,874	4,171	5,430	5,702	7,141
Total Liabilities	4,886	5,869	6,469	7,296	7,515	8,156	8,655	9,734	10,274	11,994	13,108	14,510
Fixed Assets	269	276	300	297	343	380	388	384	525	548	973	1,080
CWIP	4	1	1	4	16	26	9	59	98	368	82	22
Investments	1,094	1,975	2,268	2,754	2,386	2,343	3,046	3,615	3,109	3,508	3,243	2,762
Other Assets	3,519	3,617	3,901	4,242	4,771	5,406	5,212	5,676	6,542	7,571	8,809	10,646
Total Assets	4,886	5,869	6,469	7,296	7,515	8,156	8,655	9,734	10,274	11,994	13,108	14,510

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity +	311	219	428	325	-321	462	556	584	159	762	-225	71
Cash from Investing Activity +	-104	-315	-73	-199	393	-210	-256	-365	-82	-522	158	297
Cash from Financing Activity +	-236	48	-211	-181	-18	-294	-122	-107	55	-116	-100	-262
Net Cash Flow	-29	-47	143	-55	53	-42	179	113	133	123	-166	105
Free Cash Flow	516	203	405	292	-402	379	537	537	-18	473	-416	-58
CFO/OP	101%	111%	111%	87%	-9%	108%	108%	140%	72%	289%	9%	55%

Free Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	266.00	289.00	73.00	378.00	521.00	245.00	399.00	319.00	211.00	-197.00	-408.00	98.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	93	94	87	88	89	92	87	87	97	84	70	59
Inventory Days	85	88	65	78	65	76	97	84	103	79	79	83
Days Payable	154	156	156	172	174	165	177	161	182	149	140	119
Cash Conversion Cycle	24	26	-4	-6	-19	3	7	9	18	14	9	24
Working Capital Days	25	27	21	25	32	41	49	47	38	31	18	43
ROCE %	17%	22%	19%	22%	22%	17%	18%	15%	13%	10%	9%	18%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	30.30%	30.30%	30.30%	30.30%	30.30%	30.30%	30.30%	30.30%	30.30%	30.30%	30.30%	30.30%
FIIs	20.58%	19.08%	17.84%	17.18%	14.71%	15.08%	18.09%	21.31%	21.95%	21.16%	20.26%	18.41%
DIIs	33.14%	33.63%	35.82%	37.00%	40.36%	40.19%	37.25%	34.39%	32.99%	33.15%	35.62%	37.74%
Government	0.21%	0.21%	0.21%	0.21%	0.21%	0.21%	0.21%	0.21%	0.21%	0.21%	0.21%	0.14%
Public	15.78%	16.78%	15.84%	15.32%	14.41%	14.22%	14.16%	13.78%	14.53%	15.17%	13.61%	13.40%
No. of Shareholders	2,73,047	2,99,270	2,80,942	2,61,009	2,41,794	2,47,775	2,35,015	2,39,130	2,85,642	3,21,348	2,84,355	2,68,704

Shareholding Pattern Chart

No. of Shareholders

Voltas Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Nippon India Growth Mid Cap Fund	6,909,978	2.16	988.4	N/A	N/A	N/A
Kotak Midcap Fund	5,161,336	1.16	738.28	5,190,211	2026-06-12 01:46:32	-0.56%
Nippon India Multi Cap Fund	4,515,889	1.23	645.95	3,466,711	2026-06-12 01:46:32	30.26%
DSP Mid Cap Fund	3,639,527	2.68	520.6	2,482,559	2025-10-30 04:00:28	46.6%
Nippon India Small Cap Fund	2,493,009	0.49	356.6	2,496,994	2026-06-12 01:46:32	-0.16%
Mirae Asset Midcap Fund	2,031,113	1.58	290.53	1,781,113	2026-06-12 01:46:32	14.04%
Kotak Large & Midcap Fund	1,900,249	0.9	271.81	1,886,750	2026-06-12 01:46:32	0.72%
Axis Midcap Fund	1,755,307	0.78	251.08	1,371,327	2026-03-11 18:33:55	28%
Aditya Birla Sun Life Focused Fund	1,492,987	2.76	213.56	1,393,520	2026-03-29 03:27:06	7.14%
Mirae Asset Large & Midcap Fund	1,415,437	0.48	202.46	2,830,461	2026-03-24 01:55:36	-49.99%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	1.00	1.00	1.00	1.00	1.00
Basic EPS (Rs.)	25.43	7.62	4.08	15.23	15.87
Diluted EPS (Rs.)	25.43	7.62	4.08	15.23	15.87
Cash EPS (Rs.)	30.90	13.13	8.96	19.76	18.85
Book Value[Excl.RevalReserv]/Share (Rs.)	196.89	176.97	166.07	167.40	152.04
Book Value[Incl.RevalReserv]/Share (Rs.)	196.89	176.97	166.07	167.40	152.04
Revenue From Operations / Share (Rs.)	465.92	377.30	287.15	239.86	228.41
PBDIT / Share (Rs.)	43.55	22.00	22.39	26.32	25.10
PBIT / Share (Rs.)	41.68	20.56	21.20	25.20	24.07
PBT / Share (Rs.)	39.81	18.88	12.93	24.41	23.28
Net Profit / Share (Rs.)	29.03	11.69	7.77	18.63	17.83
NP After MI And SOA / Share (Rs.)	25.43	7.62	4.08	15.24	15.87
PBDIT Margin (%)	9.34	5.83	7.79	10.97	10.98
PBIT Margin (%)	8.94	5.45	7.38	10.50	10.53
PBT Margin (%)	8.54	5.00	4.50	10.17	10.19
Net Profit Margin (%)	6.23	3.09	2.70	7.76	7.80
NP After MI And SOA Margin (%)	5.45	2.01	1.42	6.35	6.95
Return on Networth / Equity (%)	12.91	4.32	2.47	9.16	10.51
Return on Capital Employeed (%)	19.31	10.83	12.38	14.64	15.45
Return On Assets (%)	6.39	2.09	1.31	5.17	6.06
Long Term Debt / Equity (X)	0.05	0.03	0.00	0.00	0.00
Total Debt / Equity (X)	0.13	0.12	0.11	0.06	0.05
Asset Turnover Ratio (%)	1.22	1.12	0.77	0.79	0.79
Current Ratio (X)	1.48	1.34	1.40	1.45	1.48
Quick Ratio (X)	1.02	0.97	1.05	1.04	1.12
Inventory Turnover Ratio (X)	6.36	3.64	2.25	2.39	1.91
Dividend Payout Ratio (NP) (%)	21.63	55.80	134.79	32.94	25.20
Dividend Payout Ratio (CP) (%)	20.15	46.94	104.21	30.67	23.67
Earning Retention Ratio (%)	78.37	44.20	-34.79	67.06	74.80
Cash Earning Retention Ratio (%)	79.85	53.06	-4.21	69.33	76.33
Interest Coverage Ratio (X)	23.19	13.03	25.04	33.66	31.75
Interest Coverage Ratio (Post Tax) (X)	16.46	7.92	17.92	24.82	23.55
Enterprise Value (Cr.)	48459.29	36400.13	27016.95	40977.66	32969.91
EV / Net Operating Revenue (X)	3.14	2.92	2.84	5.16	4.36
EV / EBITDA (X)	33.64	50.01	36.47	47.06	39.71
MarketCap / Net Operating Revenue (X)	3.13	2.92	2.85	5.19	4.39
Retention Ratios (%)	78.36	44.19	-34.79	67.05	74.79
Price / BV (X)	7.41	6.27	4.96	7.49	6.64
Price / Net Operating Revenue (X)	3.13	2.92	2.85	5.19	4.39
EarningsYield	0.01	0.01	0.00	0.01	0.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Voltas Ltd. is a Public Limited Listed company incorporated on 06/09/1954 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L29308MH1954PLC009371 and registration number is 009371. Currently Company is involved in the business activities of Manufacture of refrigerating or freezing equipment f industrial use, including assemblies of major components. Company's Total Operating Revenue is Rs. 10537.58 Cr. and Equity Capital is Rs. 33.08 Cr. for the Year ended 31/03/2026.

INDUSTRY	ADDRESS	CONTACT
Consumer Electronics	Voltas House `A', Dr. Babasaheb Ambedkar Road, Mumbai Maharashtra 400033	Contact not found

Management
Name	Position Held
Mr. Noel N Tata	Chairman
Mr. Mukundan C P Menon	Managing Director
Mr. Vinayak Deshpande	Director
Mr. Aditya Sehgal	Director
Mr. Saurabh Mahesh Agrawal	Director
Mr. Pheroz Naswanjee Pudumjee	Director
Ms. Sonia Singh	Director
Mr. Arun Kumar Adhikari	Director
Mr. Jayesh Tulsidas Merchant	Director
Mr. Sunil D�Souza	Director

FAQ

What is the intrinsic value of Voltas Ltd and is it undervalued?

As of 19 June 2026, Voltas Ltd's intrinsic value is ₹411.01, which is 67.81% lower than the current market price of ₹1,277.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (6.10 %), book value (₹193), dividend yield (0.31 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Voltas Ltd?

Voltas Ltd is trading at ₹1,277.00 as of 19 June 2026, with a FY2026-2027 high of ₹1,582 and low of ₹1,187. The stock is currently near its 52-week low. Market cap stands at ₹42,264 Cr..

How does Voltas Ltd's P/E ratio compare to its industry?

Voltas Ltd has a P/E ratio of 108, which is above the industry average of 100.47. The premium over industry average may reflect growth expectations or speculative interest.

Is Voltas Ltd financially healthy?

Key indicators for Voltas Ltd: ROCE of 9.04 % is on the lower side compared to the industry average of 13.31%; ROE of 6.10 % is below ideal levels (industry average: 10.53%). Dividend yield is 0.31 %.

Is Voltas Ltd profitable and how is the profit trend?

Voltas Ltd reported a net profit of ₹834 Cr in Mar 2025 on revenue of ₹15,413 Cr. Compared to ₹506 Cr in Mar 2022, the net profit shows an improving trend.

Does Voltas Ltd pay dividends?

Voltas Ltd has a dividend yield of 0.31 % at the current price of ₹1,277.00. The company pays dividends, though the yield is modest.