Financials Voltas Limited

Equities

VOLTAS

INE226A01021

Electrical Components & Equipment

Market Closed - NSE India S.E. 03:01:53 2024-05-18 am EDT 5-day change 1st Jan Change
1,297 INR +0.65% Intraday chart for Voltas Limited +0.71% +32.54%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 208,275 157,799 331,530 412,084 270,746 429,058 - -
Enterprise Value (EV) 1 208,211 156,893 327,055 409,975 269,822 365,148 420,059 417,033
P/E ratio 41 x 30.5 x 63.1 x 81.8 x 201 x 145 x 54.5 x 42.2 x
Yield 0.64% 0.84% 0.5% 0.44% 0.52% 0.37% 0.55% 0.66%
Capitalization / Revenue 2.92 x 2.06 x 4.39 x 5.19 x 2.85 x 2.93 x 2.99 x 2.61 x
EV / Revenue 2.92 x 2.05 x 4.33 x 5.17 x 2.84 x 2.93 x 2.93 x 2.54 x
EV / EBITDA 34 x 22.8 x 51 x 60.2 x 47.1 x 76.9 x 40.9 x 32.6 x
EV / FCF -51.6 x 42.2 x 61.1 x 76.5 x -1,494 x -224 x 243 x 66.2 x
FCF Yield -1.94% 2.37% 1.64% 1.31% -0.07% -0.45% 0.41% 1.51%
Price to Book 5.07 x 3.69 x 6.64 x 7.49 x 4.97 x 7.54 x 6.76 x 6.07 x
Nbr of stocks (in thousands) 330,885 330,885 330,885 330,885 330,885 330,885 - -
Reference price 2 629.4 476.9 1,002 1,245 818.2 1,297 1,297 1,297
Announcement Date 5/9/19 5/29/20 5/12/21 5/5/22 4/26/23 5/7/24 - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 71,241 76,581 75,558 79,344 94,988 124,812 143,299 164,503
EBITDA 1 6,117 6,867 6,414 6,816 5,724 4,746 10,265 12,807
EBIT 1 5,877 6,547 6,075 6,443 5,328 4,270 9,884 12,193
Operating Margin 8.25% 8.55% 8.04% 8.12% 5.61% 3.42% 6.9% 7.41%
Earnings before Tax (EBT) 1 7,292 8,130 7,092 6,973 3,071 6,244 11,670 14,264
Net income 1 5,079 5,172 5,251 5,041 1,350 2,520 7,879 10,170
Net margin 7.13% 6.75% 6.95% 6.35% 1.42% 2.02% 5.5% 6.18%
EPS 2 15.35 15.63 15.87 15.23 4.080 7.620 23.80 30.72
Free Cash Flow 1 -4,032 3,720 5,353 5,361 -180.6 -1,918 1,731 6,300
FCF margin -5.66% 4.86% 7.08% 6.76% -0.19% -1.61% 1.21% 3.83%
FCF Conversion (EBITDA) - 54.17% 83.46% 78.65% - - 16.86% 49.19%
FCF Conversion (Net income) - 71.92% 101.93% 106.34% - - 21.97% 61.95%
Dividend per Share 2 4.000 4.000 5.000 5.500 4.250 4.748 7.104 8.606
Announcement Date 5/9/19 5/29/20 5/12/21 5/5/22 4/26/23 5/7/24 - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2025 Q1
Net sales 1 19,946 26,517 17,852 16,891 17,936 26,666 27,680 17,684 20,056 29,568 33,599 21,161 56,526 24,190 38,198 46,625
EBITDA 1 1,459 3,307 1,358 1,291 1,556 2,610 1,770 1,008 763.7 2,182 1,854 1,212 2,556 1,016 2,784 3,180
EBIT 1 1,375 - 966 1,007 1,459 2,516 1,685 911.4 653.2 2,078 1,741 1,196 - 1,059 2,829 3,400
Operating Margin 6.89% - 5.41% 5.96% 8.14% 9.43% 6.09% 5.15% 3.26% 7.03% 5.18% 5.65% - 4.38% 7.41% 7.29%
Earnings before Tax (EBT) 1 1,859 3,208 1,681 1,428 1,711 2,474 1,603 134.4 -804.6 2,138 2,029 1,743 - 1,537 3,092 3,413
Net income 1 1,279 2,377 1,218 1,036 959.8 1,827 1,089 -74.1 -1,104 1,439 1,293 1,048 - 818.2 2,179 2,208
Net margin 6.41% 8.97% 6.82% 6.13% 5.35% 6.85% 3.93% -0.42% -5.5% 4.87% 3.85% 4.95% - 3.38% 5.71% 4.74%
EPS 2 3.870 7.180 3.680 3.130 2.900 5.520 3.290 -0.2200 -3.340 4.350 3.910 3.139 - 2.592 5.829 7.895
Dividend per Share 2 - 5.000 - - - 5.500 - - - 4.250 - - - - 7.000 -
Announcement Date 2/12/21 5/12/21 8/6/21 10/29/21 2/11/22 5/5/22 8/2/22 11/1/22 2/9/23 4/26/23 8/11/23 - 10/19/23 - - -
1INR in Million2INR
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - 1,247 - -
Net Cash position 1 64.6 906 4,475 2,108 924 - 8,999 12,025
Leverage (Debt/EBITDA) - - - - - 0.2088 x - -
Free Cash Flow 1 -4,032 3,720 5,353 5,361 -181 -1,918 1,731 6,300
ROE (net income / shareholders' equity) 12.9% 12.3% 11.3% 9.61% 4.44% 7.76% 12.9% 15%
ROA (Net income/ Total Assets) 6.97% 6.6% 6.25% 5.48% 2.43% 4.5% 6.6% 7.22%
Assets 1 72,877 78,390 84,057 92,009 55,605 88,854 119,331 140,864
Book Value Per Share 2 124.0 129.0 151.0 166.0 165.0 172.0 192.0 213.0
Cash Flow per Share 2 -9.710 14.00 16.80 17.70 4.820 16.70 18.90 33.40
Capex 1 818 905 208 482 1,799 2,587 2,885 2,071
Capex / Sales 1.15% 1.18% 0.28% 0.61% 1.89% 2.17% 2.01% 1.26%
Announcement Date 5/9/19 5/29/20 5/12/21 5/5/22 4/26/23 5/7/24 - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
34
Last Close Price
1,297 INR
Average target price
1,296 INR
Spread / Average Target
-0.07%
Consensus
  1. Stock Market
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  3. VOLTAS Stock
  4. Financials Voltas Limited
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