Please find enclosed herewith Annual Accounts and recommendation of dividend 2025-26.
VOLTAS · price
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Voltas Ltd reported FY2026 consolidated total income of ₹14,483 crore, down from ₹15,737 crore in FY2025, representing an 8% revenue decline. Full-year PAT fell to ₹370 crore from ₹834 crore in the prior year, a steep 56% drop, impacted by subdued summer weather in H1, commodity inflation, and currency volatility. The room AC business recovered in H2, retaining its No. 1 market position. The board recommended dividend of ₹4 per share (400%) for FY2025-26. Auditors issued unmodified opinions with an Emphasis of Matter regarding a Qatar litigation where bank guarantees of ₹433.34 crore were involved, though the Court of Appeal ruled in the company's favour. An exceptional charge of ₹26.49 crore was recorded due to new labour codes.
The sharp profit decline and revenue contraction despite retaining market leadership may create near-term pressure on the stock. However, the Q4 recovery, dividend payout, and favourable court ruling on the Qatar matter provide some support to investor sentiment.