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Voltas Q4 Review - Delay In Price Hike Hits Unitary Cooling Products Segment Profitability: ICICI Direct

Voltas Q4 Review - Delay In Price Hike Hits Unitary Cooling Products Segment Profitability: ICICI Direct

<div class="paragraphs"><p>A Voltas split AC on wall. (Source: Company website)</p></div>
A Voltas split AC on wall. (Source: Company website)

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ICICI Direct Report

Voltas Ltd. reported flattish revenue growth of ~1% YoY to Rs 2667 crore tracking lower revenues from electro-mechanical projects segment. The EMPS segment revenue declined 21% YoY to Rs 692 crore mainly due to low carry forward order book. The carry forward order book at Rs 5360 crore declined 19% YoY.

Focus on execution of quality orders has led to low order booking of the segment.

Voltas' unitary cooling products division revenue increased by ~10% YoY to Rs 1818 crore led by price hikes (of ~12-15% in FY22).

Increased completion, pandemic led lockdown and extended winter dragged down overall volume offtake. The volume market share of the company declined to ~23% (from 25.6% in Q4 FY21).

Click on the attachment to read the full report:

ICICI Direct Voltas Q4FY22 Result Update.pdf

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