Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Voltas Ltd
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 2,957 | 3,360 | 2,293 | 2,626 | 4,203 | 4,921 | 2,619 | 3,105 | 4,768 | 3,939 | 2,347 | 3,071 | 4,888 |
| Expenses + | 2,767 | 3,206 | 2,256 | 2,633 | 4,051 | 4,527 | 2,489 | 2,940 | 4,467 | 3,786 | 2,313 | 2,926 | 4,703 |
| Operating Profit | 190 | 154 | 37 | -8 | 152 | 394 | 130 | 165 | 301 | 153 | 34 | 145 | 185 |
| OPM % | 6% | 5% | 2% | -0% | 4% | 8% | 5% | 5% | 6% | 4% | 1% | 5% | 4% |
| Other Income + | 47 | 70 | 71 | 58 | 54 | 80 | 105 | 59 | 80 | 82 | 65 | 22 | 43 |
| Interest | 12 | 10 | 11 | 14 | 21 | 10 | 14 | 16 | 23 | 14 | 20 | 31 | 22 |
| Depreciation | 10 | 11 | 12 | 13 | 12 | 13 | 16 | 18 | 14 | 18 | 24 | 21 | 21 |
| Profit before tax | 214 | 203 | 85 | 24 | 174 | 452 | 205 | 191 | 343 | 203 | 54 | 116 | 184 |
| Tax % | 33% | 36% | 58% | 216% | 36% | 26% | 35% | 31% | 31% | 31% | 42% | 27% | 39% |
| Net Profit + | 143 | 129 | 36 | -28 | 111 | 335 | 133 | 131 | 236 | 141 | 32 | 84 | 113 |
| EPS in Rs | 4.35 | 3.91 | 1.11 | -0.92 | 3.52 | 10.10 | 4.05 | 3.99 | 7.28 | 4.24 | 1.04 | 2.57 | 3.51 |
Financials of Voltas Ltd
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 5,183 | 5,720 | 6,033 | 6,404 | 7,124 | 7,658 | 7,556 | 7,934 | 9,499 | 12,481 | 15,413 | 14,244 |
| Expenses + | 4,773 | 5,376 | 5,484 | 5,742 | 6,564 | 7,040 | 6,975 | 7,362 | 9,045 | 12,145 | 14,423 | 13,728 |
| Operating Profit | 411 | 344 | 549 | 663 | 560 | 618 | 580 | 572 | 454 | 336 | 990 | 516 |
| OPM % | 8% | 6% | 9% | 10% | 8% | 8% | 8% | 7% | 5% | 3% | 6% | 4% |
| Other Income + | 154 | 261 | 212 | 178 | 174 | 179 | 189 | 188 | -77 | 253 | 324 | 212 |
| Interest | 23 | 16 | 16 | 12 | 33 | 21 | 26 | 26 | 30 | 56 | 62 | 87 |
| Depreciation | 28 | 26 | 24 | 24 | 24 | 32 | 34 | 37 | 40 | 48 | 62 | 84 |
| Profit before tax | 514 | 563 | 720 | 805 | 677 | 744 | 709 | 697 | 307 | 486 | 1,191 | 557 |
| Tax % | 25% | 30% | 28% | 28% | 24% | 30% | 25% | 27% | 56% | 49% | 30% | 34% |
| Net Profit + | 388 | 393 | 520 | 578 | 514 | 521 | 529 | 506 | 136 | 248 | 834 | 370 |
| EPS in Rs | 11.62 | 11.70 | 15.64 | 17.30 | 15.35 | 15.63 | 15.87 | 15.23 | 4.08 | 7.62 | 25.43 | 11.36 |
| Dividend Payout % | 19% | 22% | 22% | 23% | 26% | 26% | 32% | 36% | 104% | 72% | 28% | 35% |
Financials of Voltas Ltd
Capital structure and asset base
| 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 |
Financials of Voltas Ltd
Operating, investing and financing cash movement
| 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 | -224 | 71 |
| Cash from Investing Activity + | -104 | -315 | -73 | -199 | 393 | -210 | -256 | -365 | -82 | -522 | 158 | 282 |
| 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 | 90 |
| Free Cash Flow | 516 | 203 | 405 | 292 | -402 | 379 | 537 | 537 | -18 | 473 | -415 | -58 |
| CFO/OP | 101% | 111% | 111% | 87% | -9% | 108% | 108% | 140% | 72% | 289% | 9% | 55% |
Financials of Voltas Ltd
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 94 | 87 | 88 | 89 | 92 | 87 | 87 | 97 | 84 | 70 | 59 | 78 |
| Inventory Days | 88 | 65 | 78 | 65 | 76 | 97 | 84 | 103 | 79 | 79 | 83 | 113 |
| Days Payable | 156 | 156 | 172 | 174 | 165 | 177 | 161 | 182 | 149 | 140 | 119 | 172 |
| Cash Conversion Cycle | 26 | -4 | -6 | -19 | 3 | 7 | 9 | 18 | 14 | 9 | 24 | 19 |
| Working Capital Days | 27 | 21 | 25 | 32 | 41 | 49 | 47 | 38 | 31 | 18 | 43 | 51 |
| ROCE % | 22% | 19% | 22% | 22% | 17% | 18% | 15% | 13% | 10% | 9% | 18% | 9% |