Archive · 22 Dec 2025
Voltas Faces Revenue Decline Amid Weak Demand
Voltas, a company that makes air conditioners and other cooling products, is having a tough time.
Their sales went down a lot in the first half of the year because summer came late, it rained a lot, and people are waiting to buy because of new rules.
The company's bosses say things are getting a little better, but they're not sure yet.
They're also trying to keep their prices competitive while dealing with higher costs.
The company's stock price has gone down, but some experts think it might go up again next year if things improve.
Investors are waiting to see if the company can bounce back.
Voltas' H1FY26 revenue declined 16.6% to ₹6,286 crore due to weak demand.
Unitary cooling products contributed 65% of revenue, down 24% YoY.
Channel inventory has reduced to 45 days but remains elevated compared to last year.
RAC market share increased to 18.5% in Q2FY26, but Ebitda margin dropped to 3.96%.
Voltas shares have fallen 23% this year, with experts predicting potential recovery in FY27.
- Who
- Voltas Ltd and its investors
- What
- Revenue decline and weak demand for cooling products
- When
- Fiscal Year 2026 (H1FY26 ended September)
- Where
- India
- Why
- Delayed summer, extended monsoon, GST-related demand deferment, and high channel inventory
- Company
- Voltas Ltd
- FY26 Revenue Trend
- Expected to decline
- H1FY26 Revenue
- ₹6,286 crore (down 16.6%)
- Unitary Cooling Products Contribution
- 65% (down 24% YoY)
- Current Channel Inventory
- 45 days
- RAC Market Share (Q2FY26)
- 18.5%
- Ebitda Margin (H1FY26)
- 3.96% (down 380 bps)
- Stock Performance (YTD)
- Down 23% to ₹1,385