Margin pressures cast chill over Voltas2 min read 03 Nov 2022, 11:30 PM IST
Against the backdrop of stiff competition and subdued demand, shares of Voltas have declined 29% so far in CY22.
Voltas Ltd’s shares fell by around 5% on Thursday on NSE. Profitability for the September quarter (Q2FY23) was far from inspiring. Many analysts have also reduced earnings estimates for this financial year and the next, factoring in lower margins for the company’s unitary cooling products’ (UCP) business. In the post earnings call, Voltas’ management told analysts that the UCP segment’s margin would be a high single-digit for the next 12-15 months.
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