Manufactures room air conditioners, deep freezers, reciprocating compressors and provides electronics manufacturing services (EMS), with FY26 consolidated revenue of ₹823.6 cr. Air conditioners are the largest contributor at roughly 60% of FY26 revenue (down from ~75% earlier), with the segment shifting from pure OEM toward ODM execution (ODM already 40-50% of AC revenue). The compressor vertical started commercial production in January 2026 via subsidiary VCPL; ~50% of FY27 capacity is already booked and the segment benefits from a government mandate requiring 60% domestic sourcing of reciprocating compressors. EMS and refrigeration capacity are also being expanded. Customer concentration in AC on Voltas is being reduced from 100% toward 40-60% in FY27 as other OEM and ODM customers are added. Materials dominate the cost structure at 83.9% of revenue (copper a key input for ACs), followed by depreciation at 3.4% and employee cost at 3.6%. EBITDA margin was 10.4% in FY26 with net profit of ₹15 cr. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Air Conditioners (60%), Compressors, Electronics Manufacturing Services (EMS), Refrigeration / Deep Freezers. Diversified, asset-heavy consumer durables manufacturer with backward integration across AC, refrigeration, compressors and EMS
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 531 | 698 | 824 |
| EBITDA (ex other income) | — | — | 83 |
| margin % | — | — | 10.1 |
| Owners' profit | — | — | 0 |
| EPS, as reported (₹) | 4.40 | 5.30 | 5.00 |
| ROE % · ROCE % | — · 12.5 | — · 13.4 | 3.6 · 9.5 |
| Debt / equity (x) | — | — | 0.67 |
| Cash from operations | 14 | 31 | 3 |
| Capex | — | (163) | (152) |
| ₹ crore | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 293 | 310 | 240 | 203 | 301 | 206 | 317 | 376 |
| Profit before tax | 9 | 12 | 8 | 9 | 7 | 12 | 6 | 13 |
| Net profit | — | — | — | 6 | 3 | 8 | 4 | 9 |
| EPS (₹) | 2.88 | 3.26 | 0.93 | 2.18 | 2.20 | 2.60 | 1.46 | 2.84 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| VIRTUOSO OPTOELECTRONIC L ◆ | 1,643 | 56.7 | 3.98 | 22.3 | 3.6 | 4.0 | — | 9.3 |
| SWISS MILITARY CON GOOD L | 352 | 46.6 | 2.58 | 27.4 | 5.5 | 6.8 | — | 3.4 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 56.7 | 25.4 | 165 of 205 | 20% |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 9 Sept 2026 · 11th AGM set for September 30 with remote e-voting from September 27 | compliance | minimal | — | — |
| 8 Sept 2026 · Annual Report FY 2025-26 and 11th AGM Notice | board shareholder meetings | medium | — | — |
| 8 Sept 2026 · Notice of 11th AGM on Sep 30, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Virtuoso Optoelectronics clarifies Q1 FY27 results filing with NSE, revenue up 85% | compliance | low | — | — |
| 3 Sept 2026 · NSE seeks clarification on June 2026 quarter results | regulatory legal | medium | — | — |
| 2 Sept 2026 · Virtuoso Optoelectronics EGM notice published in newspapers | compliance | minimal | — | — |
| 1 Sept 2026 · EGM on Sept 24 2026 to approve Rs 85 crore preferential equity issue | board shareholder meetings | low | — | — |
| 30 Aug 2026 · Virtuoso Optoelectronics to meet Nuvama PCG analysts on September 2 | board shareholder meetings | low | — | — |
| 29 Aug 2026 · Board approves Rs 85 crore preferential equity issue to three investors | fund raising | high | — | — |
| 26 Aug 2026 · Board meeting on Aug 29 for preferential issue; trading window closed | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| P/B | 4.0 | 2.4 | 126 of 189 | 34% |
| ROCE | 4.0 | 7.0 | 141 of 224 | 37% |
| ROE | 3.6 | 5.8 | 124 of 199 | 38% |
| Debt / Equity | 0.7 | 0.1 | 163 of 200 | 19% |
| EBITDA margin | 9.3 | 9.3 | 97 of 193 | 50% |
| Revenue growth | 85.0 | 16.4 | 18 of 189 | 91% |
| Profit growth | 40.9 | 16.8 | 68 of 183 | 63% |
| Market cap | 1643 | 230 | 77 of 227 | 66% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
