Copy of the transcript of the Q4 FY25 Results Conference Call held on 8th May, 2025
Awaiting price reaction for this filing.
Voltas reported its highest-ever annual profit of INR 834 crores for FY25, more than tripling from INR 248 crores in FY24, on consolidated total income of INR 15,737 crores (up 24%). Q4 net profit rose to INR 236 crores from INR 111 crores a year ago, driven by a strong summer, 36% volume growth in the Unitary Cooling Products (UCP) segment, and a turnaround in the Projects business from a INR 328 crore loss to a INR 169 crore profit. Voltas became the first AC brand to cross 2.5 million units in a year and holds about 19% market share; air cooler sales topped 0.5 million units and Voltas Beko grew volumes 57%. Management flagged delayed summer onset hurting recent secondary sales, made an INR 40 crore provision on international (GCC) projects, and is dealing with an INR 25 crore custom duty notice on copper tubes. New CFO K.V. Sridhar was introduced during the call.
Record annual profits and a strong Projects turnaround are positive for shareholders, but near-term sentiment may be tempered by delayed summer demand, cautious guidance on industry volume growth, and pending tax/custom duty items worth monitoring. The INR 6,500+ crore order book provides good revenue visibility for the Projects segment going forward.