Voltas (VOLTAS) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 consolidated total income rose to ₹2,746.08 crore from ₹2,411.93 crore YoY; PBT before exceptional items and tax was ₹82.93 crore versus ₹54.12 crore, and net profit was ₹47.71 crore versus ₹31.50 crore.

• RAC volumes grew 32%; YTD September market share reached 17.4%, 4.2 percentage points ahead of the nearest competitor.

• H1 FY27 consolidated total income was ₹7,511 crore, PBT ₹368 crore and PAT ₹260 crore, versus ₹6,433 crore, ₹257 crore and ₹172 crore, respectively, in H1 FY26.

Financial highlights

• Consolidated Q2 revenue from operations was ₹2,706.57 crore versus ₹2,347.32 crore YoY.

• Standalone Q2 total income was ₹1,832.19 crore versus ₹1,496.37 crore; PBT was ₹27.93 crore versus ₹7.57 crore and net profit ₹21.88 crore versus ₹7.33 crore.

Outlook and guidance

• Management expects profitability to improve YoY, with stronger operating leverage in Q3 and Q4; higher Q4 volumes should support overhead absorption.

• October price increases of 5%-7% followed Q2 increases of 14%; cumulative increases were said to cover 18% cost inflation and address the earlier 3%-4% cost-to-price gap.

• Voltbek is targeting EBITDA break-even in FY28; long-term project-segment margins are expected at 4%-6%.

• Priorities include market leadership, innovation, distribution expansion, customer experience, cost competitiveness, profitable growth and working-capital efficiency.