Voltas Ltd announced its fiscal first-quarter earnings on Monday, reporting a significant profit growth of 158.5% to Rs 334.23 crore, compared to Rs 129.29 crore in the same period of the previous financial year. This marks the highest quarterly profit in the company’s history.
The revenue from operations rose by 46.5% to Rs 4921.02 crore, up from Rs 3359.86 crore in the corresponding quarter last year. The company’s EBITDA stood at Rs 424 crore. A key highlight of the quarter was Voltas achieving a milestone of selling 1 million air conditioners, along with a 67% volume growth in Unitary Cooling Products. The company reported that this segment continued to outperform the market, with overall volume increasing by 67%.
Voltas maintained its market leadership in both split and window air-conditioners, holding an Exit Market Share of 21.2% as of June 2024. Revenue for the segment grew by 51% to Rs 3,802 crore, up from Rs 2,514 crore in the same period last year, with segment results rising by 58% to Rs 327 crore.
In the Electro-Mechanical Projects and Services segment, which includes both domestic and international projects, Voltas saw significant growth. The domestic business, which covers MEP, water, electrical, and solar projects, benefited from a strong order book and improved project execution, resulting in robust bottom-line growth.
The company also noted that international projects in the UAE and Saudi Arabia performed well, contributing to revenue growth. Segment revenue for the quarter increased by 40% to Rs 949 crore, compared to Rs 679 crore in the previous year. The segment result was Rs 68 crore, a marked improvement from a loss of Rs 52 crore in the same quarter last year.
The Engineering Products and Services segment continued its steady performance, supported by a solid order backlog and disciplined execution. Revenue for the quarter increased to Rs 161 crore, up from Rs 142 crore in the same period last year, while segment results were Rs 45 crore, compared to Rs 54 crore in the previous year.
Voltas Ltd, is known for its expertise in air conditioning and cooling technology. Established in 1954, the company has grown into a market leader in the air conditioning sector, offering a wide range of products, including air conditioners, air coolers, and commercial refrigeration solutions. Voltas has also diversified its portfolio to include engineering projects and services, providing electro-mechanical solutions for infrastructure development both in India and internationally.
The company has a strong presence in markets like the Middle East and Africa, where it undertakes significant projects in HVAC (Heating, Ventilation, and Air Conditioning), water management, and electrical services. Voltas is recognized for its innovation, customer-centric approach, and commitment to sustainability, maintaining a leadership position in the consumer electronics and engineering services industry.
