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Voltas (VOLTAS) investor relations material
Voltas Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 25/26 earnings summary14 Nov, 2025
Executive summary
Consolidated total income for Q2 FY26 was INR 24.11 billion (₹2,412 crores), down from INR 27.24 billion (₹2,725 crores) year-over-year; net profit declined to INR 0.315 billion (₹32 crores) from INR 1.3283 billion (₹133 crores).
Six-month consolidated income was INR 64.32 billion (₹6,433 crores), down from INR 77.25 billion (₹7,726 crores) year-over-year; net profit for the period was INR 1.72 billion (₹172 crores) versus INR 4.67 billion (₹468 crores).
The quarter was impacted by extended/early monsoon, GST-related demand deferment, and high channel inventory, but market leadership and strategic focus were maintained.
Diversification into commercial air conditioning, refrigeration, and home appliances is broadening the business and reducing seasonality.
Strategic investments in product innovation, channel expansion, and new manufacturing facilities continued.
Financial highlights
Q2 FY26 consolidated PBT was INR 0.54 billion (₹54 crores), down from INR 2.05 billion (₹205 crores) last year; H1 FY26 PBT was ₹257 crores, down from ₹657 crores.
Basic and diluted EPS for H1 FY26 stood at ₹5.28, compared to ₹14.15 in H1 FY25.
Total comprehensive income for H1 FY26 was ₹85.62 crores, compared to ₹639.92 crores in H1 FY25.
Margins were temporarily impacted by underabsorption at new facilities and higher marketing support.
Standalone Q2 FY26 net profit was ₹7.33 crores, down from ₹108.78 crores in Q2 FY25.
Outlook and guidance
GST reduction from 28% to 18% and the upcoming BEE energy efficiency transition are expected to drive demand and product upgrades in H2 FY26.
Channel inventory is expected to normalize, with retail momentum and production levels anticipated to improve in the coming months.
Management expects a positive demand trajectory, with December likely to be a growth month and H2 to see easing of margin pressures.
Integrated strategy and diversified portfolio position the company for sustainable growth and value creation.
Impact of new facilities on UCP margins?
Risk of 406 cr Qatar bank guarantee invocation?
Rationale for reclassifying trade receivables?
Drivers for UCP margin recovery in H2
Strategy to grow data center MEP contribution
Key milestones for VoltBek EBITDA breakeven
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Next Voltas earnings date
Q3 25/2629 Jan, 2026
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Frequently asked questions
Voltas Limited is an Indian engineering and manufacturing company specializing in air conditioning and refrigeration products. It operates through segments such as electro-mechanical projects, cooling appliances, and commercial refrigeration. The company also provides engineering solutions for HVAC, water management, and cold chain infrastructure across domestic and international markets. It is headquartered in Mumbai, India, and its shares are listed on the NSE.
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