# Voltas Q1 revenue rises 19% but misses estimates, stock falls

2026-08-18T08:34:05+00:00 | Business & Economy | Indian Opinion Desk

Corroboration: 1 independent outlet

Voltas Ltd reported a 19% rise in operating revenue to Rs 4,765 crore for the June quarter, but the figure was 9% below Nirmal Bang Institutional Equities' estimates. The stock fell 4% on Monday as the Ebitda margin expanded 115 basis points to 5.7%, still short of the management's long-term target of 7-8%. The company's unitary cooling products segment, its largest, posted a 32% revenue jump to Rs 3,794 crore, driven by 45% growth in AC volumes. Voltas regained market share to 17.3% from 15.9% in FY26, widening its lead over competitors. Selective price hikes of 10-12% and higher utilisation helped offset commodity inflation, pushing segment profit margins from 3.6% to 5.3%. Other businesses showed mixed results: electro-mechanical projects revenue fell 27% amid weak execution in West Asia, while engineering products saw double-digit growth. The joint venture with Beko, VoltBek, continued to post losses, with Voltas reporting Rs 37 crore as its share of Q1 losses. The company's progress towards the 7-8% Ebitda margin target remains under watch given high commodity prices and freight costs.

## Coverage

- livemint.com <https://www.livemint.com/market/mark-to-market/voltas-strong-growth-fails-to-impress-operating-revenue-acs-home-appliances-other-businesses-engineering-products-11787031152020.html>

This story was synthesised by AI from the source linked above.

Tags: Beko, Nirmal Bang Institutional Equities, Voltas
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