Voltas Limited — Investor Meet, 20-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Voltas' Q2 FY26 financials reported declines in total income and net profit, primarily due to an extended monsoon and GST-related demand deferment. Management projects a strong H2 FY26 rebound, driven by the AC GST rate cut (28% to 18%), upcoming BEE efficiency transition, and pent-up demand. Voltas sustained Unitary Cooling Products (UCP) market leadership (18.5% share in Q2) and its Voltbek appliances business is growing rapidly. The Electro Mechanical Projects & Services (EMPS) segment offers stability with a ₹6,200 Cr+ order book, diversifying into water and solar. The company foresees improved fixed cost absorption and strategic diversification, with Commercial AC as a key growth area. H2 recovery and long-term strategy are key investor takeaways.